Dillon Brooks became an anchor for the Phoenix Suns with his gritty play. That led to the club using the Bird exception to extend him for three seasons.
SUCCESS
Pandora opens unexpected box as silver price drops
Pandora (PNDORA) just told investors it will keep replacing silver in its jewelry, even though silver’s price has fallen significantly from its record high.That decision surprised some market watchers. When the price of a material drops, most companies take the cost savings and move on. Pandora is doing the opposite.The Danish jeweler wants to stop letting one metal decide how its business performs. Silver made up the bulk of its products, and wild price swings kept dragging its results and its share price around.So its management is building a plan that holds up whether silver rises or falls. That plan, paired with a strong second-quarter report, pushed the stock sharply higher this week.Here is what Pandora is actually doing, why it matters for the share price, and where there is still risk for anyone holding the stock.Why Pandora is moving off silver even as prices fallSilver used to be the metal that determined the results of a Pandora quarter. It sat in most of the company’s products, so every price spike affected profit margins.That became a problem. Silver climbed past $120 an ounce in January before dropping back toward $65, CNBC reported. Pandora’s stock moved with it.More Retail Coverage:Big Lots struggles as new ownership keeps closing stores2 retail giants close 100s of stores and 1 faces bankruptcy riskCostco makes a pricing promise members need to knowCEO Berta de Pablos-Barbier wants that connection gone. She told Reuters the company has to separate its performance and share value from the commodity, adding that Pandora is a jewelry brand, not a silver trader.The fix is platinum plating. Pandora will move at least 50% of its relevant silver assortment to platinum-plated designs by 2027, and cut silver’s share of its lineup toward 20% over time.Platinum costs far more per ounce than silver, but Pandora uses only a thin plated layer, which keeps the finished product affordable.
Pandora plans to move at least half of its silver jewelry to platinum-plated designs by 2027.winhorse / Getty Images
How the platinum switch protects Pandora’s profit marginsThe whole point of the switch is steadier costs. When one metal determines your input bill, a price spike affects earnings and there is little you can do about it. By spreading across more materials, Pandora reduces how much any single metal can affect its earnings. That gives the company’s management clearer visibility into future costs.The plan is already in effect. Pandora launched platinum-plated bracelets in stores across Northern Europe and online, with a wider global launch planned for the second half of 2026, National Jeweler reported.There is also a demand argument. In a July study of23,000 shoppers, 78% recognized platinum as a precious metal, compared with 69% for sterling silver.Pandora says platinum-plated pieces will cost about the same as its silver jewelry.What the strong second quarter changed for the stockThe material plan landed alongside a second-quarter report that beat expectations and gave investors a reason to buy.Pandora posted 3% organic growth and raised its full-year outlook, according to a press release. Related: Dollar General copies Costco with a discount twistNet income reached DKK 875 million, well above the DKK 640 million analysts expected, Newsquawk reported.Management now expects 0% to 3% organic growth for 2026, up from the prior range of -1% to 2%. It also lifted its full-year EBIT margin target to a range of 22% to 23%, from 21% to 22%.The higher margin target is not purely operational. Pandora said it reflects a one-time gain from a U.S. tariff refund, according to a press release. Strip that out, and the underlying beat was closer to 3%, Investing.com reported.How Pandora locked in its silver costs through next yearPandora did not stop at the product switch. It also locked in the price on nearly all of its remaining 2027 silver needs.The company has now secured contracts covering 90% to 100% of its 2027 silver supply at about $65 an ounce, Investing.com noted. Its prior planning assumed roughly $82 an ounce.That lower locked-in price adds about 200 basis points to Pandora’s earlier 2027 margin assumptions. In plain terms, a lower fixed silver price means more profit falls through next year.This is the part that aligns with the platinum plan. One move cuts long-term reliance on silver, and the other controls the cost of the silver Pandora still uses in the meantime.What Pandora is doing with dividends and buybacksCapital returns shifted too, and the direction tells you where its management’s cash is going.Pandora raised its ordinary dividend by 10% to DKK 22 per share, Yahoo Finance reported. That is a direct payout increase for shareholders.At the same time, it paused its share buyback program. The company said it will resume buybacks once the platinum transition has progressed further.For investors, the tradeoff is simple. You get a bigger dividend now, and buybacks return later once the mineral switch frees up working capital.Where the risk still sits for Pandora investorsThe stock reacted strongly to the earnings report and news of the silver shift. Shares jumped after the results, though they gave back about 1.8% in August 14 trading.Even so, there is a need for caution. Pandora trades at about 14 times forward earnings, according to Yahoo Finance, against modest single-digit growth. The stock also carries a Neutral analyst consensus, Investing.com reported.The bigger question is whether shoppers accept platinum-plated pieces over the sterling silver they know. The U.S. accounts for about a third of Pandora’s sales, and consumer sentiment there is weak, de Pablos-Barbier told CNBC.If shoppers do not warm to the new platinum-plated pieces during the holiday season, Pandora could be stuck with unsold inventory. It would likely need to cut prices to move that stock, and that would eat into profit. That is the real risk for anyone holding the stock right now.Three things that must go right for the platinum planShoppers buy platinum-plated pieces at similar rates to silver, especially in the U.S. and Europe.The global rollout in late 2026 lands without supply or pricing problems.Organic growth stays inside the new 0% to 3% guidance range till the end of the year.Pandora has made its choice clear. It would rather control its own cost structure than wait for silver to behave.Related: Iconic supermarket chain closes more stores and facilities
Amazon is selling a dehumidifier with 1,000 square feet of coverage for just $57
TheStreet aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.Why we love this dealHot summer days can be uncomfortable with the heat alone, but adding high humidity on top of the high temperatures makes it downright miserable. It’s not just the outdoors that are susceptible to these increased moisture levels. In humid regions like Florida or Louisiana, these conditions can make their way indoors even when the air conditioner is working overtime, making a dehumidifier a must-have appliance for these homes. If your home has too much humidity and could use some help from a dehumidifier, the Bedred 95-Ounce Dehumidifier is an affordable choice. Normally, this dehumidifier retails for $80, which is already a budget-friendly price point given its size and features, but it’s an even better deal with 29% off currently, which brings the total down to just $57. As a bonus, the essential summer appliance comes in two colors, including black or white, so you can match it to any room. Bedred 95-Ounce Dehumidifier, $57 (was $80) at Amazon
Courtesy of Amazon
Shop at AmazonWhy do shoppers love it?Removing moisture from the air with a dual-dehumidifying condenser, this dehumidifier is powerful enough to cover a 1,000-square-foot space. All the moisture is collected in a large 95-ounce water tank, so you can potentially go for days without emptying the reservoir. Once the tank is full, the machine will automatically shut off, so you can have peace of mind that you’re not wasting electricity or overflowing the tank. When you do want to change the settings, the dehumidifier is user-friendly with three touch-control buttons built into the top. “I noticed a big difference in the humidity level, especially in smaller spaces,” raved one shopper. They continued to praise the dehumidifier, writing, “It helps the room feel fresher, cleaner, and less stuffy.” They weren’t alone in their appreciation for the machine, as over 2,700 shoppers have rated this dehumidifier a perfect five stars.Related: Walmart’s bestselling $300 dehumidifier is now 77% offFor a fun touch of color that indicates it’s powered on, the dehumidifier has ambient lighting with your choice of seven color modes. You can turn off these lights at nighttime by switching the dehumidifier into sleep mode. It will also begin operating at whisper-quiet levels that produce only 28 decibels of sound, so you won’t have to worry about it interrupting your slumber.Details to know Tank size: 95 ounces.Floor area coverage: 1,000 square feet.Special features: Automatic shut-off and ambient lighting.With 1,000 square feet of coverage, this humidifier can cover the entirety of a smaller apartment. If you have a larger house, it will be better to have multiple units for the living room, basement, and bedroom. Shop more dealsNineSky Dehumidifier, $60 (was $80) at AmazonOnsekin Dehumidifier, $99 at AmazonBreezome 60-Ounce Dehumidifier, $44 (was $60) at AmazonEnjoy a crisper, more refreshing environment with the help of the Bedred 95-Ounce Dehumidifier for just $57 at Amazon. To secure this lower price point, don’t wait to add this deal to your shopping cart.
Iran Embassy Claims Karoline Leavitt Resigned Because Of Decoy Plane ‘Betrayal’—But It’s Unlikely She Was On Jet
Leavitt said Wednesday she is stepping down at the end of the month to spend more time with her family.
An eval harness found what qualitative review couldn’t: AI models are most confident when wrong
There is a step in the development process for large language model (LLM)-assisted tooling that most teams skip because it’s tedious, time-consuming, and doesn’t produce results visible to end users: Verifying that what the model is saying is actually correct. Not fluent, not coherent, not topically relevant — correct in the sense of accurately identifying the right answer to the specific problem the tool was built to solve.The gap between “this output sounds right to me” and “this output is verifiably correct” is where most LLM-assisted enterprise tools fail quietly. They pass internal review because the output sounds right. They fail in production because those people weren’t reviewing against ground truth — they were reviewing against their intuition about what a good answer looks like.This distinction matters more as LLM-assisted tools move from productivity accessories to components that influence real business decisions. If your AI-assisted tool is shaping how an analyst investigates a data quality issue, how a compliance reviewer decides whether to escalate a flagged record, or how an operations team triages a validation failure — the accuracy of its output has real consequences. “Seems reasonable” is not an adequate evaluation standard for that.What qualitative evaluation actually catchesThe standard evaluation approach for LLM output in enterprise tooling is qualitative: A sample of outputs is reviewed by someone with domain knowledge, judged against a mental model of what a good answer looks like, and the prompt is adjusted if too many outputs seem off.This catches a specific class of problems: Outputs that are obviously wrong, poorly formatted, or off-topic. These are real issues worth catching. They’re also the easy ones.What qualitative evaluation consistently misses is the class of outputs that are wrong in ways that are difficult to see without checking against something external. An explanation that confidently identifies the wrong root cause, in language that sounds authoritative, based on reasoning that sounds plausible — this passes qualitative review. It fails the moment someone with the right context checks it against what actually happened.In a system whose value proposition depends on accuracy, “sounds plausible” is not the same as “correct.” The two can diverge significantly, and qualitative review won’t tell you when they have.What an actual eval harness looks likeThe alternative is building an evaluation harness that scores model output against labeled ground truth — a set of cases where the correct answer is known, against which you can measure accuracy rather than coherence.I built this while developing a root-cause explainer for data migration drift: A tool that takes a detected drift event and generates a ranked explanation of what most likely caused it. The first prototype produced fluent, specific-sounding explanations that passed qualitative review. When I tested it against cases where I already knew the root cause, the explanation was wrong often enough to matter.The eval harness I built works in three parts.First, a synthetic ground truth dataset: Cases where the correct answer is known by construction. This meant introducing specific, controlled causes into a test pipeline — schema changes, transformation logic bugs, source system behavioral shifts — recording exactly what I introduced, and running the model against the resulting drift events. The correct answer for each case was the cause I had deliberately introduced.Getting the synthetic scenarios realistic enough to be useful required more care than I expected. Early versions were too clean — the drift signal was obvious in ways that real production drift events aren’t. Adding realistic noise, overlapping signals, and cases where multiple plausible causes were present simultaneously was what made the synthetic set actually predictive of real-world performance.Second, a scoring function that evaluates ranked output. Binary correct/incorrect isn’t sufficient when the model produces a ranked list of likely causes rather than a single answer. An explanation that correctly identifies the root cause as the third most likely candidate is meaningfully different from one that identifies it as the most likely. The scoring function evaluated two dimensions: Presence — did the correct answer appear in the output at all — and rank — how prominently was it featured relative to incorrect candidates. These were combined into a weighted score that rewarded both finding the right answer and ranking it appropriately.Third, systematic evaluation across the full synthetic dataset rather than spot-checking. Running the harness across the complete set reveals patterns that spot-checking misses: Which categories of problem the model handles reliably, which it consistently gets wrong, and which combinations of signals produce the highest rate of confident incorrect explanations.What the evaluation revealedThe results were more informative than any qualitative review could have been.Schema change scenarios scored well — the model was reliable at identifying upstream schema changes when the evidence was present and distinctive. Transformation logic bugs were harder — the model consistently identified the right general category but misattributed the specific change that caused the problem, particularly when multiple changes had been made close together. Overlapping-signal scenarios were the hardest — cases where two different causes occurred close in time produced the highest rate of confidently wrong explanations.That last finding is the one that qualitative review would never have surfaced. The model’s expressed confidence didn’t correlate with its accuracy — it was most confident in the cases where it was most wrong. Without the eval harness measuring against ground truth, that pattern would have been invisible.The practical implication for enterprise AI deploymentFor teams deploying LLM-assisted tools in enterprise contexts — particularly tools that influence how people investigate problems, triage alerts, or make routing decisions — the eval harness question to answer before production deployment is: Have we measured accuracy against cases where we know the right answer, or have we only reviewed whether the outputs seem reasonable?If the answer is the latter, the tool has been tested for fluency and coherence but not for correctness. Those are different properties. For tools that shape business decisions, correctness is the one that matters.Building the synthetic ground truth dataset is the hard part and the part most worth investing in. It forces you to define precisely what “correct” means for your specific use case — which turns out to be a useful exercise independent of the evaluation itself. The scoring function and the harness infrastructure are relatively straightforward once you have that definition. Without it, you’re measuring something other than what you’re trying to guarantee.Arun Mishra is an enterprise architect.
Owning a home is overrated. Renting is now often a much better money move.
There are better ways to think about investments than homeownership.
NYT ‘Connections’ #1162 Hints And Answers For Sunday, August 16
Looking for today’s NYT Connections hints? Some help and the answers for today’s game are right here to help keep your streak alive.
Historic retailer gets lifeline after warning it could collapse
Once a destination for some of the world’s most selective luxury shoppers, an iconic retailer is facing one of the biggest turning points in its nearly two-century history.Years of financial losses and mounting challenges have put the business under serious pressure, with its owner warning that it could not survive much longer without new investment. Now, after months of uncertainty, the retailer’s future is once again hanging in the balance.Founded in 1831, Harvey Nichols is a British luxury department store chain known for its upscale designer fashion, beauty products, fine wines, and gourmet food. The company operated 12 stores worldwide.Harvey Nichols warned it could shut down next yearHarvey Nichols’ financial challenges intensified this year, prompting its owner, Hong Kong luxury goods businessman Dickson Poon, to put the retailer up for sale in June 2026.Poon acquired Harvey Nichols in 1991 for £53 million from Debenhams and the Burton Group. After 35 years of ownership, he began seeking a buyer or a new investor as the retailer struggled with mounting losses and a lack of profitability.The retailer had not returned to profit since the Covid pandemic and warned that it could collapse within a year without new investment.Harvey Nichols reported a £105 million ($142 million) loss after tax for the year ended March 29, 2025, after writing off inter-company loans, according to the company’s annual report and financial statements.Revenue fell from £204.8 million ($277 million) to £184.8 million ($250 million) in the year, while pre-tax losses widened from £34 million ($46 million) to £49 million ($66 million). The retailer’s accumulated pre-tax losses had reached more than £140 million ($189 million) over five years.The figures highlight the depth of the retailer’s financial problems as it faced weaker consumer demand, higher operating costs, online competition, and changes in international shopping patterns. The end of tax-free shopping for tourists in the U.K. has also weighed on luxury retailers that rely on international visitors.Harvey Nichols attracted interest from multiple potential buyers during the sale process, although some prospective bidders withdrew. Frasers Group ultimately emerged as the successful buyer.Harvey Nichols is acquired by Frasers GroupAfter months of uncertainty, Harvey Nichols was acquired by Mike Ashley’s Frasers Group on Aug. 13 through a pre-pack administration.The deal allows Frasers Group to take control of Harvey Nichols’ operating assets, while the retailer’s existing liabilities are addressed through the administration process.The transaction includes Harvey Nichols’ six U.K. stores in Manchester, Birmingham, Bristol, Leeds, Edinburgh, and the Knightsbridge flagship in London, as well as its online business, existing inventory, and more than 1,000 employees. International franchise agreements are also included, with those locations continuing to operate under existing licensing arrangements.The future of the Dublin location remains under discussion, while the OXO Tower restaurant in London was excluded from the transaction.Frasers Group has not officially disclosed the purchase price. However, multiple reports have put the transaction value at approximately £40 million ($54 million), according to Forbes.The acquisition marks the end of Poon’s 35-year ownership of Harvey Nichols and gives Frasers Group control of one of Britain’s best-known luxury retail names.”The turnaround will require tough choices, and we are prepared to make those decisions, even if that means a smaller business in the near term, to create a stronger and more sustainable Harvey Nichols for the long term,” said Frasers Group CEO Michael Murray in a statement.
Harvey Nichols is acquired out of insolvency by Frasers Group.Bloomberg / Getty Images
What the acquisition means for Harvey Nichols’ futureThe acquisition does not mean Harvey Nichols’ problems are over.Frasers Group said it will review and potentially rationalize Harvey Nichols’ store portfolio, organizational structure, operating model, and cost base as it works to create a sustainable business.That could eventually mean a smaller Harvey Nichols, with Frasers Group warning that significant changes will be necessary to return the retailer to profitability.Here’s some of my previous coverage of retail business news:Retail shoe giant closes 41 stores under multiple big-name brandsFormerly bankrupt retailer overhauls 48-year-old offeringGlobal sportswear brand closing 15 stores, laying off workersThe approach is consistent with Frasers Group’s history of acquiring distressed retailers and attempting to restructure them.Frasers Group previously acquired House of Fraser out of administration, closing at least 28 of its 59 stores as it reorganized its business. According to the BBC, the company also reported a £150 million ($203 million) loss on its investment in Debenhams, which entered administration in 2019.The group acquired Matches Fashion in December 2023, The Guardian reported, but the online luxury retailer entered administration just three months later.That history adds an additional layer of uncertainty to the Harvey Nichols acquisition. Frasers Group has experience in restructuring distressed retailers, but Harvey Nichols presents a different challenge because its value is closely tied to its luxury positioning, customer base, and physical stores.The broader luxury market has also become more challenging. Luxury retailers have faced weaker consumer spending, changing shopping habits, higher costs, and a slowdown in international demand, putting pressure on businesses that once benefited from strong post-pandemic spending.According to the McKinsey & Company State of Fashion 2026 Report, the global fashion industry is projected to grow at a low single-digit rate in 2026 amid macroeconomic volatility, tariff pressures, and weaker consumer sentiment.Frasers Group believes its existing luxury portfolio and retail expertise can provide Harvey Nichols with a platform for a turnaround. But the company’s own warning that the business may need to become smaller underscores the scale of the challenges.For Harvey Nichols, the acquisition marks the end of one era and the beginning of another. The retailer has avoided an immediate shutdown, but its next chapter will likely involve significant changes as Frasers Group decides which stores, operations, and investments can support the business for the long term.Related: Sportswear giant continues store closures nationwide
Think interest rates are high now? These charts offer a different perspective.
Also in Weekend Reads: 10 remarkable housing markets, stock picks, and health-insurance battles.
Amazon has a spacious 4-tier storage cabinet with adjustable shelves for $70
TheStreet aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.Why we love this dealMore storage space is always ideal. Storing kitchen items, finding a spot for office supplies, getting into a new hobby that requires various tools and items — whatever you need extra storage for, finding a sturdy option that both looks good and keeps your items secure is important. Adjustable shelves are useful for ever-changing households, and an easy-to-clean material allows you to keep almost anything stored without worrying about scuffs or spills. That’s why the Ristern 4-Tier Metal Storage Cabinet is such a great storage option. The metal material is made to fit in with most household aesthetics while offering an easy-to-care-for option that holds up day after day. This solid storage unit is just $70 at Amazon, saving shoppers 22% off the original price. Ristern 4-Tier Metal Storage Cabinet, $70 (was $90) at Amazon
Courtesy of Amazon
Shop at AmazonWhy do shoppers love it?The cold-rolled steel construction is waterproof, wear-resistant, durable, and coated with electrostatic powder that offers a much stronger, harder surface that lasts. This provides a rust-resistant option that works well not only in the pantry or bedroom, but also in the laundry room, garage, or bathroom, where humidity can be an issue. The double-door pantry design offers easy access to your items, and keeps everything clean and secure. The doors each have magnetic suction devices that keep them closed, and the pantry features adjustable feet that make it easy to level it out on uneven flooring. Related: Walmart’s bestselling $200 farmhouse shoe cabinet is now 47% offWith four tiers of shelving, there’s a good amount of storage space for tools, beauty products, kitchen utensils, and more. Three of these shelves can be height-adjusted or fully removed, and the unit can hold up to 100 pounds, providing room and stability for larger items like kitchen appliances. The closed storage also makes this a great option for front entryway storage, offering room for shoes, bags, or dog-walking accessories that can easily be hidden from view. It measures 47.3 inches tall, 11.8 inches deep, and 23.6 inches wide, offering plenty of space while still keeping a smaller footprint that can fit in smaller areas. Details to knowSize: It measures 47.3 inches tall, 11.8 inches deep, and 23.6 inches wide.Weight capacity: The full unit can hold up to 100 pounds.Easy to clean: The smooth metal finish is easy to wipe off.One reviewer said, “It’s so beautiful, and it looks like solid wood. It’s well made with a straightforward assembly. Not flimsy metal at all. It’s a great price! I left out the shelves so I can use it as a broom closet, and it’s still very sturdy. I’m so pleased.”Another buyer said, “It’s very stable, holding tools and pressure cookers, among so many other things. Magnets hold the doors closed, and it has elegant-looking handles. It’s a winner!”Shop more dealsYfxcvsl 4-Tier Stackable Storage Bins, $30 (was $49) at AmazonYizosh Metal Storage Cabinet, $99 (was $110) at AmazonGdnvbrds Narrow and Tall Storage Cabinet, $90 (was $100) at AmazonThe Ristern 4-Tier Metal Storage Cabinet is a fantastic option for anyone who needs some sturdy storage that fits into smaller spaces. The coating keeps rust away and makes it easy to clean off, and the adjustable shelves offer room for different-sized items. Shoppers can save 22%, getting this cabinet for just $70.