Business

(NEW YORK) — Emma Grede, a British entrepreneur and the mastermind behind brands like SKIMS and Good American is sharing her secrets on how she built a successful career.

Grede is CEO of Good American, a fashion line on which she partners with Khloé Kardashian, serves as chairperson of the nonprofit 15 Percent Pledge and has also made her mark on ABC’s hit series Shark Tank.

The 41-year-old businesswoman, also a mentor on and executive producer of Side Hustlers on The Roku Channel, told Good Morning America that one secret to her success is thinking about her failures as much as she thinks about her accomplishments.

“I think often we don’t talk about those failures. I’m the opposite. I do [it] all the time,” she explained. “Because I know that everything that I’ve done, that hasn’t worked, I’ve taken a bit of those learnings and spun them into something new.”

Grede also added of her success, “It’s been a mixture of unbelievable hard work and an unbelievable ability to learn from every single mistake that I’ve had.”

Read below for six more tips for success from Grede:

1. Define what you want.

“I’ve been very, very clear about what it is that I want,” she said. “And then I chart a path of how to get there. This is what will make me happy, this is the success that I want. And here are all the incremental steps I’m going to need to get there.”

“Because we all have jobs, we all have a past. And you can take anything that you’re doing and make that situation work for your next situation, so long as you’re focused on what it is that you want. And I often think people are not clear about what it is that they want, you know, I want to be happy, I want to be successful. What does that mean to be happy? What does it mean to be successful, and I’m a real person that has relied my entire life on having a plan,” she added.

2. Reframe your thoughts.

“I honestly think that my greatness is, really, it kind of comes down to mindset,” Grede said, “It starts like first thing in the morning, and I wake up and my day is just chocked full of problems, but I can think, ‘oh my goodness, I have so many issues today’ or I can think, ‘I get to do this.'”

She continued, “And when I say mindset, I mean, how you think – the stories that you tell yourself, right, we have a constant conversation going on in our own head often. And the difference between success and failure in my life is really so much down to the way that I think and how I control those stories and the way I approach every day, and how that mindset leads you into certain habits and rituals around your life and your work that really, really set you up for success.”

3. Make gratitude part of your routine.

Grede said she reinforces a gratitude mindset shift every day, like when brushing her teeth.

“In the morning, I wake up, and it’s like, the first thing I do is not reach for my phone, but it’s really to go into this moment of gratitude,” Grede said. “And when you practice gratitude, it shifts your focus.”

Grede added, “You can talk yourself up and into anything or out of it, and so if you can start to change the way you think, you change the way you act.”

“What you think you become,” she continued. “In my career, and in my life, it’s literally what’s going on [in my mind] and how I speak to myself every day that’s really made the difference.”

4. Remember the ‘rule of thirds’

“My mom would say to me, ‘Emma, you’re not better than anybody else, but nor is anyone better than you.'” Grede recalled. “I think that’s been just really important for me to think about and to play out in my life every day, but I was also really raised with this idea that not everything should go well for you all the time.”

Grede said she lives her life in a way where she expects the “high highs” as well as the “low lows.”

Grede likened what she calls the “rule of thirds” to chasing a dream, completing a task that was hard or the unexpected.

“You’re going to be happy about one-third of the time, the other third of the time, you’re going to feel like kind of okay, and the other third of the time, you’re going to feel pretty terrible,” Grede said. “You have to expect that you’ll have those really, really difficult days.”

She continued, “The rule of thirds has really helped me to figure out, how do I balance those things? How do I think about it? How do I set my expectations up?”

5. Put ambitions ahead of fears.

“Fear is something that can really hold you back — fear of failure, fear of embarrassment, fear of leaving the security of whatever it is that you have,” Grede said. “I think that you have to put your ambition ahead of your fear. You have to make sure that you can grab on to what it is that you really want.”

Grede acknowledged that fear can sometimes be a motivator, as long as it stays in perspective.

“Sometimes, it’s good to have some [fear] in the back of your head, but it’s got to stay in the back,” she said. “You can’t put it in your future.”

6. Stay true to your dream.

“I honestly believe that anyone can achieve greatness if they’re really true to themselves,” Grede said. “If you make a decision, a clear decision, about what it is that you want, and what you believe is important to you, you have to create and make every single decision you make and every move you make going towards that one decision.”

“And that is one of the most important things: be clear about what it is that you want,” she added. “Be intentional about what it is that you want, and go after it without apology.”

The Walt Disney Co., is the parent company of ABC and ABC News.

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(NEW YORK) — AT&T has announced that the company believes a hacker stole records of calls and texts from nearly all of AT&T’s wireless customers, according to a financial filing from the company.

“The data does not contain the content of calls or texts, personal information such as Social Security numbers, dates of birth, or other personally identifiable information,” AT&T said in their statement released early Friday morning. “These records identify the telephone numbers with which an AT&T or MVNO wireless number interacted during these periods, including telephone numbers of AT&T wireline customers and customers of other carriers, counts of those interactions, and aggregate call duration for a day or month.”

AT&T says it has taken “additional cybersecurity measures” in response to this incident including closing off the point of unlawful access.

AT&T confirmed that it will provide notice to its current and former impacted customers.

“AT&T is working with law enforcement in its efforts to arrest those involved in the incident,” the company said. “Based on information available to AT&T, it understands that at least one person has been apprehended. As of the date of this filing, AT&T does not believe that the data is publicly available.”

AT&T says the incident has not had a “material impact on AT&T’s operations,” and AT&T does not believe that the incident is “reasonably likely to materially impact AT&T’s financial condition or results of operations.”

This is a developing story. Please check back for updates.

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(WASHINGTON) — Consumer prices rose 3.0% in June compared to a year ago, extending a monthslong stretch of progress in the fight to slow price increases. The latest inflation reading outperformed economists’ expectations.

Inflation has cooled for four consecutive months, reversing a surge in prices that took hold at the outset of 2024.

Price increases have slowed significantly from a peak of more than 9%, but inflation remains more than a percentage point higher than the Fed’s target rate of 2%.

The prices increases last month marked a slowdown from the 3.3% rate recorded in May.

Despite the cooldown of prices in recent months, the Federal Reserve has opted to keep its benchmark interest rate highly elevated. The Fed Funds rate remains between 5.25% and 5.5%, matching its highest level since 2001.

A further reduction of inflation could heighten pressure on the Fed to move forward with a set of interest rate cuts that the central bank forecasted late last year.

Speaking to House members in Washington, D.C., on Wednesday, Fed Chair Jerome Powell touted “modest further progress” in the fight to slow price hikes over recent months.

Still, he added, the Fed will not lower interest rates until it has “gained greater confidence that inflation is moving sustainably toward 2%.”

While the economy has proven resilient this year, recent performance suggests that high interest rates have begun to slow activity.

A jobs report released on Friday showed that the economy added a robust 206,000 jobs in June. However, downward revisions for hiring over the previous two months brought the three-month average to its lowest level since January 2021. The unemployment rate has ticked up this year from 3.7% to 4.1%.

Economic output has slowed markedly at the outset of 2024, though it has continued to grow at a solid pace.

Interest rate cuts would lower borrowing costs for consumers and businesses, potentially triggering a burst of economic activity through greater household spending and company investment.

But the Fed risks a rebound of inflation if it cuts interest rates too quickly, since stronger consumer demand and higher wages could lead to an acceleration of price increases.

On the other hand, recent data suggesting an economic slowdown heightens the risk of keeping interest rates too high for too long, since the borrowing costs could ultimately tip the economy into a recession.

The Fed is guided by a dual mandate to keep inflation under control and maximize employment. Addressing lawmakers at the Capitol on Wednesday, Powell said recent progress in the fight against inflation has allowed the central bank to bring greater attention to its role in employment.

“Elevated inflation is not the only risk we face,” Powell told lawmakers on Wednesday. If the Fed opts to lower interest rates “too late or too little,” he added, it could “unduly weaken economic activity and employment.”

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(WASHINGTON) — A monthslong stretch of progress in the fight against inflation will face another test on Thursday when a U.S. government agency releases fresh data on price increases.

Inflation has cooled for three consecutive months, reversing a surge in prices that took hold at the outset of 2024.

Price increases have slowed significantly from a peak of more than 9%, but inflation remains more than a percentage point higher than the Fed’s target rate of 2%.

Economists expect consumer prices to have increased 3.1% over the year ending in June. That figure would mark a modest slowdown from the 3.3% rate recorded a month prior.

Despite the cooldown of prices in recent months, the Federal Reserve has opted to keep its benchmark interest rate highly elevated. The Fed Funds rate remains between 5.25% and 5.5%, matching its highest level since 2001.

A further reduction of inflation could heighten pressure on the Fed to move forward with a set of interest rate cuts that the central bank forecasted late last year.

Speaking to House members in Washington, D.C., on Wednesday, Fed Chair Jerome Powell touted “modest further progress” in the fight to slow price hikes over recent months.

Still, he added, the Fed will not lower interest rates until it has “gained greater confidence that inflation is moving sustainably toward 2%.”

While the economy has proven resilient this year, recent performance suggests that high interest rates have begun to slow activity.

A jobs report released on Friday showed that the economy added a robust 206,000 jobs in June. However, downward revisions for hiring over the previous two months brought the three-month average to its lowest level since January 2021. The unemployment rate has ticked up this year from 3.7% to 4.1%.

Economic output has slowed markedly at the outset of 2024, though it has continued to grow at a solid pace.

Interest rate cuts would lower borrowing costs for consumers and businesses, potentially triggering a burst of economic activity through greater household spending and company investment.

But the Fed risks a rebound of inflation if it cuts interest rates too quickly, since stronger consumer demand and higher wages could lead to an acceleration of price increases.

On the other hand, recent data suggesting an economic slowdown heightens the risk of keeping interest rates too high for too long, since the borrowing costs could ultimately tip the economy into a recession.

The Fed is guided by a dual mandate to keep inflation under control and maximize employment. Addressing lawmakers at the Capitol on Wednesday, Powell said recent progress in the fight against inflation has allowed the central bank to bring greater attention to its role in employment.

“Elevated inflation is not the only risk we face,” Powell told lawmakers on Wednesday. 

If the Fed opts to lower interest rates “too late or too little,” he added, it could “unduly weaken economic activity and employment.”

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(NEW YORK) — Costco’s warehouse retail competitor Sam’s Club has recently ramped up efforts for customer retention.

Both big-box stores are beloved for selling high-quality items at lower price points, which offers shoppers an easy way to buy in bulk and save some money.

Now, Sam’s Club has slashed its sign-up price to just $25 until the end of August to entice first-time members. The newly dropped rate is more than half off the annual membership of the store’s biggest competitor, Costco.

“By them slashing the price of their membership, especially for new members, this is one way to try to get people are excited about the offerings of Sam’s Club,” retail analyst Hitha Herzog told ABC News’ Good Morning America.

But the wholesale giant has also caught some backlash after removing a key perk that is typically available to its plus members.

Starting mid-August, free shipping will only be available on qualifying purchases of $50 or more, pre-tax.

“In the last few years shipping and logistics around shipping has become extremely expensive,” said Herzog, the chief research officer at H Squared Research. “Sam’s Club is making an effort to cut costs by not offering free shipping on orders that are under a certain amount, but they are adding other benefits for members.”

Costco’s Gold Star and Business memberships, on the other hand, cost $60 a year, while an Executive membership that comes with added benefits such as travel rewards and roadside assistance, costs $120 annually.

Warehouse clubs also offer savings on more than just bulk items: From the pharmacy to travel programs, the other perks can add up and help members make more sense of the annual fees.

“You’re getting discounts on gasoline, on prescriptions and optical services,” Herzog said. “So, overall, you may feel like you’re paying more for that membership, but the perks actually give you added discounts that make it worth it.”

Top Costco savings tips

Whether you’re a newly minted Costco member or a seasoned sampler, here are some simple ways to save at the warehouse store.

Buy travel gift cards: Some airlines sell gift cards at slightly discounted price points, including $50 off for a $500 Southwest card.

Everyday essentials boast big savings: When it comes to savings at Costco, The Joy of Costco authors David and Susan Schwartz know a thing or two on the best-priced products thanks to more than five years of global research on Costco. They previously told GMA that two items are always on the top of their cost-effective shopping list, “paper towels and bath tissue.”

Travel deals from rental cars to vacation packages: The Schwartzes also encouraged fellow members to rent cars through Costco, which works with major car rental companies, offering 20% discounts on rates.

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(NEW YORK) — McDonald’s has a new frozen treat on its menu that’s perfect for customers looking to beat the heat.

On Tuesday, the Golden Arches announced the newest McFlurry flavor hitting McDonald’s menus nationwide, Kit Kat Banana Split.

The fast food chain said the new dessert is made with a base of vanilla soft serve that’s “blended with real banana, strawberry clusters plus chocolatey, crunchy pieces of Kit Kat wafer bars in every bite.”

The limited time treat is available starting July 10 while supplies last at participating McDonald’s restaurants nationwide.

Garlic sauce and more new menu additions at McDonald’s this summer

On Monday, McDonald’s launched its first-ever garlic sauce in collaboration with a hit anime series for a limited time that will be available to customers exclusively via the app.

The new Special Grade Garlic Sauce, inspired by the Black Garlic Sauce from McDonald’s Japan, has “notes of garlic and soy sauce, balanced with a slight tangy sweetness.”

The new packaging features eight unique lid designs starring fan-favorite characters from the hit anime series Jujutsu Kaisen.

Customers can get the sauce for free with any Chicken McNuggets order placed through the McDonald’s app.

Next up, the Smoky BLT Quarter Pounder with Cheese — and its larger Double Quarter Pounder iteration with two patties — which first debuted in 2022, will return to McDonald’s menus on Tuesday for a limited time.

The sandwich is made with 100% beef, two slices of American cheese, three half strips of thick cut Applewood smoked bacon, fresh Roma tomatoes, shredded lettuce and a special, smoky BLT sauce on a toasted sesame seed bun.

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(NEW YORK) — The high volume of travelers in the United States passing through airport security after their Fourth of July getaways helped set a new single-day screening record for the Transportation Security Administration.

On Sunday, July 7, TSA officers screened 3,013,413 people at checkpoints nationwide, which surpassed the previous record of 2.99 million set on June 23, 2024, the agency announced Monday.

More people flew on an airplane in a single day in the U.S. on Sunday than on any other day in history since TSA was founded in November 2001.

Secretary of Homeland Security Alejandro Mayorkas hailed the agency’s work as “an extraordinary achievement” in a congratulatory message on Monday.

“TSA fully, unerringly, and efficiently checked 35 passengers every second, along with all their luggage and carry-on baggage, while demonstrating unwavering professionalism and respect for travelers during the intensely busy holiday weekend,” he said. “Congratulations to the entire TSA workforce and Administrator David Pekoske.”

As air travel continues to skyrocket at “record-breaking” rates, which Mayorkas said is “expected to continue in the months ahead,” he urged lawmakers to consider the compensation of its agents.

“… It is imperative that Congress ensure pay fairness for TSA permanently,” he said. “It is the smart thing to do for everyone who depends on TSA to keep our skies and our country safe, and it is the right thing to do for these great public servants.”

He added that “for decades, TSA officers received less pay for their service than their government counterparts did,” citing that last year in partnership with Congress, DHS “secured long-overdue pay fairness” which he said has helped cut TSA workforce attrition in half, as well as increased recruitment rates, along with “improved morale and job satisfaction across the agency.”

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(NEW YORK) — There’s still plenty of time to plan more fun in the sun summer getaways, but if you haven’t yet booked travel for shoulder season — or winter holidays — experts are sharing why now may be the sweet spot time of year to scope out savings.

What is shoulder season? How to save on travel during off-peak months

Jesse Neugarten, founder and CEO of Dollar Flight Club, understands the importance of finding the best offers on airfare and told Good Morning America that travelers can find “significant savings” during shoulder season.

“It refers to the periods between peak and off-peak travel times when destinations are less crowded and travel costs are generally lower,” she said.

The upcoming shoulder season in Europe, for example, during early autumn — September to October — “offers favorable weather without the high prices and large crowds of peak season,” she said.

“Traveling during shoulder season allows you to take advantage of reduced airfare and accommodation rates due to decreased demand, leaving more money in your wallet,” Neugarten explained.

Her company has sent out deal alerts on both domestic and international travel during this time period “such as round-trip flights to Europe for under $400 and within the U.S. for as low as $250.”

Neugarten added that “prices are on average 15% cheaper when looking at U.S. to Europe routes during the off season, but can be up to 25% cheaper on particular routes.”

“Additionally, some regions experience a brief shoulder season in January, following the holiday season,” she said. “As tourists head home, hotels and airlines often reduce prices, encouraging travelers to take advantage of quieter winter getaways.”

Fellow industry expert Daniel Green echoed her sentiments, adding that travel dates set just after the very end of summer typically come with price drops, since hotels and airlines alike “can’t guarantee that the weather will be what you expect,” depending on the destination.

Green, the co-founder and chief technology officer at Faye Travel Insurance, told GMA to think of it “like booking a ski vacation the day the slopes are due to open, even though it may not be snowing yet.”

“Because you’re taking that risk that your ski vacation will be spent entirely in the lodge — or your beach vacation might be spent under the wrong type of umbrella — there’s less demand for flights and accommodation, so you can save,” he said.

Like many in the space, Green also encouraged people to utilize tools like Google Flights, which he said “will often show you the price for an entire month, so you can easily see if the week before you intended to fly is half the price.”

Save on travel by booking now for the opposite season

Scott Keyes, another proponent of tracking flight prices, has regularly emphasized the importance of booking trips for the opposite season if you want to save on airfare. He previously told Good Morning America about the “Goldilocks window,” which is the ideal time to book a flight because “it’s not too early or too late” for the price to be just right.

“If you book 11 months in advance, you don’t see many cheap flights, but also, if you wait until a week or two before, your likelihood of a cheap flight at that point is gonna be very low,” the Going.com founder said.

Tips for booking cheap flights for winter during summer

Neugarten’s first suggestion is to start early: “Begin your search several months in advance to catch early bird deals. We recommend at least three months prior.”

Next, be flexible. “Flexibility with travel dates and destinations increases your chances of finding cheaper flights,” she said. “Keep an open mind for new places you haven’t explored yet.”

Like Green and Keyes, Neugarten said travelers should “sign up for free fare alerts,” whether it’s with her company or by utilizing tools like Google Flights and Hopper “to receive insights on optimal booking times and notifications of price drops.”

“Consider nearby airports — sometimes flying into or out of a nearby airport can be significantly cheaper,” Neugarten said. “Don’t be afraid to drive a little further to a different airport. You might save hundreds on the flight.”

Once you’re ready to book, she suggested going directly through the airline, because carriers “occasionally offer exclusive deals on their websites that are not available through third-party booking sites.”

“Also, make sure to keep an eye on points and miles deals during shoulder season,” she added.

What’s the 21-day rule for airfare bookings?

Keyes also reminded travelers to follow his golden rule of air travel, back-timing when to book based on your departure date in order to align with an airline’s “advanced purchase requirement,” found in the fine print of the fare terms and conditions.

“Pull up a calendar and circle 21 days before your travel date,” he said. “That needs to be your sort of drop-dead date to get your flights booked by.”

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(FORT WORTH, Texas) — The Boeing Company has agreed in principle to a deal with the Department of Justice that will include a guilty plea to conspiracy to defraud the U.S. related to the company allegedly misleading the Federal Aviation Administration during the evaluation of the 737 MAX, according to a court filing from the DOJ.

“We can confirm that we have reached an agreement in principle on terms of a resolution with the Justice Department, subject to the memorialization and approval of specific terms,” Boeing said in a statement to ABC News early Monday morning.

In addition to the guilty plea, the agreement includes Boeing paying the maximum statutory fine and investing at least $455 million in its compliance and safety programs.

The deal is not yet final, and families of the victims of the MAX crashes in 2018 and 2019 have expressed their intention to oppose this plea agreement. The families have asked for an opportunity to file their opposition with the court, according to a court filing in U.S. District Court in Fort Worth, Texas.

According to the DOJ’s court filing late Sunday night, the parties are “proceeding expeditiously to document and memorialize the terms and understandings into a written plea agreement and expect to file the agreement with the Court by no later than July 19, 2024.”

Some 189 people died when a Boeing 737 MAX 8 plunged into the Java Sea off Indonesia on Oct. 29, 2018. Black box data from the Lion Air jet revealed the pilots struggled to fight the plane’s malfunctioning safety system from takeoff to the moment it nose-dived into the water.

Ethiopian Airlines Flight 302 — another Boeing 737 MAX 8 — crashed five months later near Addis Ababa airport six minutes after takeoff, killing all 157 people on board.

In a separate court filing late Sunday night, attorneys for families of victims of the two MAX crashes indicated that they intend to exercise their rights under the Crime Victims’ Rights Act to be heard in opposition to the proposed plea.

“The families intend to argue that the plea deal with Boeing unfairly makes concessions to Boeing that other criminal defendants would never receive and fails to hold Boeing accountable for the deaths of 346 persons. As a result, the generous plea agreement rests on deceptive and offensive premises,” the attorneys wrote.

“At the upcoming hearing regarding the plea, families intend to ask the Court to reject the plea,” the filing states.

The families have asked that the court not set a scheduling order for the hearing until at least July 12 to give them ample time to file a briefing with their reasons why the court should reject the plea.

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(WASHINGTON) — The economy appears to be holding steady, with the arrival of the Labor Department’s latest jobs report.

Employers hired 206,000 workers in June, making for 42 consecutive months of growth, according to new data from the U.S. Bureau of Labor Statistics. Still, the unemployment rate ticked higher to 4.1%, reaching that level for the first time since November 2021.

The strongest gains last month, occurred in government as well as the health care, social assistance and construction industries. 

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