Category Archives: Yahoo

Even pizza prices are headed higher amid elevated inflation.

Papa John's said this week that the company increased prices 7% in the first quarter to help offset inflationary pressures. Despite the price increase, Papa John's still saw North America same-store sales gain 1.9%.

"We have got great demand for our products [and] positive comparable sales in the first quarter despite the most challenging operating environment we have ever seen," said Papa John's CEO Rob Lynch on Yahoo Finance Live (video above). "We do see some improvement, at least a plateau on some of the inflation on both the food costs as well as maybe some of the wage inflation starting to normalize. I wouldn't say it's going down yet but staffing levels have sequentially improved throughout the year. January was by the far the toughest month for us."

The price increases on pizza reflect several factors inherent to most fast-food chains: Labor costs for everything from the person prepping the pizza to the person delivering it are on the rise amidst a tight job market, transportation costs are on the rise owing to higher fuel costs, and ingredient costs are the rise notably wheat, chicken and cheese.

U.S. President Joe Biden eats pizza as he meets with U.S. Army soldiers assigned to the 82nd Airborne Division at the G2 Arena in Jasionka, near Rzeszow, Poland, March 25, 2022. REUTERS/Evelyn Hockstein

Besides price hikes, Papa John's has leaned into its more premium brand positioning by offering a new "Epic" stuffed crust pizza with pepperoni in the crust. The price of the pizza: about $14.

Papa John's is not alone in regards to price hikes on food that has long been seen as a big value to families due to its sharing component and affordable sticker price.

Domino's lifted the price of its entry level pizza to $6.99 from $5.99 for a delivered pizza, an increase of 16%. Consumers appeared to balk at the increase unlike at Papa John's Domino's U.S. same-store sales fell 3.6% in the first quarter.

The company is also exploring other price increases, execs hinted to analysts on a late April earnings call.

Story continues

"I think what we have to do is be cognizant of the fact that today we are dealing with a highly inflationary economy," Domino's CFO Sandeep Reddy told analysts on the call. "And so the food basket is up double digits, the labor costs have actually gone up significantly, and in this environment, I think we just want to make sure that while we keep in mind the consumer value proposition and we're making sure that the demand continues to flow, we still find a way to ensure the profitability of the franchisees is where it needs to be to drive that long-term growth for them and for us. And that's as simple as it is."

Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

Read the latest financial and business news from Yahoo Finance

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and YouTube

View original post here:

Inflation is hammering Big Pizza - Yahoo Finance

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe

Tuesday, May 10, 2022

Today's newsletter is by Brian Cheung, an anchor and reporter covering the Fed, economics, and banking for Yahoo Finance. You can follow him on Twitter @bcheungz.

It has been a brutal 2022 for investors.

Since we rang in the new year, the S&P 500 has fallen over 16% and the Nasdaq has lost about 25%. Across the board, other asset classes have struggled as well.

U.S. Treasuries have fallen in value (as yields continue to rise). And bitcoin has lost about a third of its value.

But hey, at least theres the greenback. The U.S. dollar has strengthened by 8.3% so far this year, as measured by the U.S. dollar index. At about 104, the U.S. dollar has not been this strong against the worlds currencies since 2002.

ING Economics says that the rip higher is the result of three key drivers: Fed tightening, the war in Ukraine, and the economic slowdown in China.

All three themes are showing no signs of reversing, wrote ING strategists on Monday.

Theres not much to be made of all of this for asset allocation, since stuffing bands of bills into your mattress is likely a poor strategy given the current levels of high inflation.

Still, the strength of the U.S. dollar appears to show global investors favoring the United States over growth prospects anywhere else.

That is a bizarre take in an economic environment where investors are increasingly talking about recession.

But everything is relative. The Russian invasion of Ukraine is bogging down economic activity across the European continent. And the Chinese governments zero-COVID policy has led to extended shutdowns that have throttled growth in the worlds second-largest economy.

That makes the U.S. economy among the prettiest of the bunch, spurring a global hunger for greenbacks.

That storyline is being boosted by the Feds messaging on raising interest rates quickly. A 0.50% interest rate increase last week (the largest single move since 2000) makes deposits in the U.S. more attractive than other advanced economies of the world that are slower to raise rates.

Story continues

The widening interest rate differential between the United States and other countries is causing flight to, and subsequent strengthening of, the U.S. dollar, analysts at the Wells Fargo investment Institute wrote Monday.

Still, the waters remain exceptionally choppy given the risk that the Fed could pay the ultimate price of being too late to high inflation: having to raise interest rates so high it dramatically curbs economic activity to the point of recession.

We are not going to pretend that its all sunshine and rainbows," wrote Alejo Czerwonko, UBS chief investment officer for emerging markets Americas. "The near-term outlook for markets remains very uncertain.

Economy

Earnings

Pre-market

7:00 a.m. ET: Norwegian Cruise Line Holdings (NCLH) is expected to report an adjusted loss of $1.53 per share on revenue of $739.85 million

Hyatt Hotels (H) is expected to report an adjusted loss of $0.38 per share on revenue of $1.11 billion

Warner Music Group (WMG) is expected to report adjusted earnings of $0.21 per share on revenue of $1.37 billion

Peloton (PTON) is expected to report an adjusted loss of $0.80 per share on revenue of $971.5 million

Planet Fitness (PLNT) is expected to report adjusted earnings of $0.28 per share on revenue of $190.06 million

Post-market

Roblox (RBLX) is expected to report an adjusted loss of $0.03 per share on revenue of $648.31 million

Occidental Petroleum (OXY) is expected to report adjusted earnings of $2.05 per share on revenue of $8.22 billion

Coinbase (COIN) is expected to report adjusted earnings of $0.20 per share on revenue of $1.48 billion

Sofi Technologies (SOFI) is expected to report an adjusted loss of $0.14 per share on revenue of $284.91 million

Allbirds (BIRD) is expected to report an adjusted loss of $0.12 per share on revenue of $62.19 million

Rocket Cos. (RKT) is expected to report adjusted earnings of $0.19 per share on revenue of $2.14 billion

Wynn Resorts (WYNN) is expected to report an adjusted loss of $1.21 per share on revenue of $979.92 million

Electronic Arts (EA) is expected to report adjusted earnings of $1.43 per share on revenue of $1.77 billion

Most Americans think they can afford their retirement

Reid Hoffman: Warren Buffett 'doesn't understand' the potential for crypto technology

Three things to watch in D.C. this week

Stock market investors are getting very worried about a recession: Goldman Sachs

Read the latest financial and business news from Yahoo Finance

Follow Yahoo Finance on Twitter, Instagram, YouTube, Facebook, Flipboard, and LinkedIn

See original here:

There is an asset class that is doing well: Morning Brief - Yahoo Finance

The West has hit Russia with a range of economic sanctions including a promise this weekend from the G-7 nations to reduce their dependence on the country's oil. But one type of sanction, so-called "export controls," has attracted less attention than other high-profile penalties like seizing oligarchs' yachts.

Export controls ban companies from sending crucial products like semiconductors to Russia with the goal of gradually starving its economy. But a top Biden administration official told Yahoo Finance on Monday that certain export controls may hurt Vladimir Putins army in the immediate future.

Because of the export controls weve already put in place, Russias top two manufacturers of tanks are no longer in business, Deputy Secretary of the Treasury Wally Adeyemo said Monday. Russia today has far fewer tanks than they had going into this invasion, and they can't make more because of the action that we're taking with sanctions.

The White House says the controls have left Russias two major tank plants the Uralvagonzavod Corporation and Chelyabinsk Tractor Plant idle due to a lack of foreign components. And observers noticed fewer tanks than normal at the annual military parade on Moscows Red Square on Monday.

A child stands on a destroyed Russian tank, amid Russia's invasion of Ukraine, near Makariv, Kyiv region. (REUTERS/Mikhail Palinchak)

Meanwhile, images of destroyed Russian tanks felled by U.S.-made Javelin missiles have become a rallying cry for Ukrainians and their allies.

On Sunday, the White House announced additional export controls on items like wood products, industrial engines, bulldozers, and more to further limit Russias access to items and revenue that could support its military capabilities.

The EU moved in tandem with new controls on items like chemicals.

A senior administration official told reporters over the weekend that export control efforts had begun on specialized products like microchips and now were broadening into industrial products that have a similar effect, we think, on Putins ability to prosecute his war ambitions.

Story continues

As Adeyemo told Yahoo Finance on Monday, the goal is to "reduce the resources to Russia in order to make sure they have less resources to fight their war on Ukraine."

Adewale "Wally" Adeyemo is the Deputy Secretary of the Treasury. (Greg Nash/Pool via REUTERS)

The Export Administration Regulations (EAR) as laid out in U.S. government documents apply not just to items produced in the U.S. but also claims foreign-produced items located outside the United States are subject to the EAR when they are a direct product of industries like U.S. technology, software, or manufacturing."

The moves on export controls come as part of a host of new actions against Russia announced Sunday, including sanctions against Russian individuals and businesses and an attempt by G7 nations to stop importing Russian oil. The U.S. Commerce Department also said Monday that the U.S. would temporarily suspend tariffs on Ukrainian steel for one year.

Ben Werschkul is a writer and producer for Yahoo Finance in Washington, DC.

Read the latest financial and business news from Yahoo Finance

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, YouTube, and reddit.

Visit link:

Russia 'can't make more' tanks because of this key sanction, Biden official says - Yahoo Finance

Dont expect inflation to pass over very quickly, even with Fed rate hikes, a new ING report (ING) warns.

The report, which was published by INGs Financial and Economic Analysis team, analyzed the latest Labor Department jobs report and noted that consumers and businesses alike being burned by inflation will likely have to wait a while before seeing any real relief from inflation.

In an environment of decent corporate pricing power where firms can pass cost increases onto customers, this is a key reason why we believe inflation will be very slow to fall back to the 2% Target, INGs Chief International Economist James Knightly wrote in the report.

Job growth continued to be a bright spot for the economy as markets struggled with news of ongoing interest rate hikes.

Aprils job report released last Friday showed that the national unemployment rate remained stationary at 3.6% while the economy added 428,000 jobs vs. 380,000 expected. The report also yielded concerning information regarding the increase in departures from the labor market, much to the chagrin of businesses already struggling with labor shortages. In April, more than 360,000 workers left the workforce.

WASHINGTON, DC - MAY 04: Federal Reserve Chairman Jerome Powell speaks at a news conference following a Federal Open Market Committee meeting on May 04, 2022 in Washington, DC. Powell announced the Federal Reserve is raising interest rates by a half-percentage point to combat record high inflation. This is Powell's first in-person news conference since the pandemic began. (Photo by Win McNamee/Getty Images)

Fed Chair Jerome Powell this week talked of optimism that labor supply will return, but we have seen little sign so far and we are skeptical that things will change soon, Knightly explained. As such we continue to expect a tight labor market that will keep upward pressure on employment costs.

The Federal Open Market Committee unanimously agreed to raise interest rates by a half percentage-point last week in the most aggressive rate hike in over twenty years. Along with the rate increase, the Fed also detailed its plan for reducing its balance sheet over the next few months in an effort to further slow inflation.

While the Fed is currently targeting interest rates between 0.75% and 1.00%, there have been concerns among businesses and consumers alike regarding how markets will react to potential rate hikes.

Story continues

With over 11 million job vacancies, businesses are still desperately understaffed in many sectors. Several of the key factors keeping the labor market tight, including a declining labor participation rate and low job satisfaction, remain unaddressed, data suggests.

The US labor force participation rate fell to 62.2% from 62.4% as 363,000 left the workforce last month alone. Consequently, Knightly noted in the report, the slower wage growth number might not last long as we know demand for workers remains intense.

Though some companies have increased incentives in a bid to attract more workers, job satisfaction hit a twenty-year low in the United States, MetLifes (MET) 20th annual U.S. Employee Benefit Trends Study found. The insurance provider conducted a survey of over 3,000 full-time employees of various companies and also found that 37% of employees reported feeling stressed while working more than half the time.

Similarly, a separate Pew Research survey found that low pay, lack of opportunities for advancement, and lack of respect were the largest factors contributing to employee resignation in 2021.

Ihsaan Fanusie is a writer at Yahoo Finance. Follow him on Twitter @IFanusie.

Follow Yahoo Finance on Twitter, Instagram, YouTube, Facebook, Flipboard, and LinkedIn

Read the original:

Inflation will be very slow to return to 2% amid labor shortage: ING - Yahoo Finance

Subscribe to You Pod to Win the Game

It's nice to have your next job lined up before you leave your current one. Especially if that job pays $37.5 million per year Tom Brady's next gig as lead analyst for FOX whenever he decides to hang up the cleats.

Charles Robinson is joined by Wall Street Journal's Andrew Beaton to react to this morning's mind blowing report that TB12 will be heading to the booth for some serious change that is sure to change the landscape of the television talent market and potentially lure some others like Peyton Manning, Russell Wilson and more into television if they can approach a payout like Brady's.

Next, Charles & Andrew discuss the recent news out of Las Vegas, where interim team president Dan Ventrelle was fired for whistleblowing on alleged workplace misconduct within the Raiders organization. With another ownership controversy in the news this offseason, will Roger Goodell's legacy be errant owner behavior?

Wrapping up the podcast, the guys chat about Andrew's hometown New York Jets and Giants, and how both franchises hope they are on the path to turn around their recent years of bad performance.

Stay up to date with the latest NFL news and coverage from Yahoo Sports on Twitter @YahooSportsNFL.

Follow Charles @CharlesRobinson

Please support Terez Paylor's legacy:

Buy an All-Juice Team hoodie or tee from BreakingT.com/Terez. All profits directly fund the Terez A. Paylor scholarship at Howard University.

Donate directly at giving.howard.edu/givenow. Under Tribute, please note that your gift is made in memory of Terez A. Paylor. Under Designation, click on Other and write in Terez A. Paylor Scholarship.

Donate directly to the PowerMizzou Journalism Alumni Scholarship in memory of Terez Paylor

Check out the rest of the Yahoo Sports podcast family at https://apple.co/3zEuTQj or at yahoosports.com/podcasts

Tampa Bay Buccaneers QB Tom Brady agreed to a reported 10-year, $375 million deal to become the lead analyst at FOX once he retires from football. (Photo by Drew Angerer/Getty Images)

See the original post here:

Tom Brady lines up his next gig & allegations of misconduct within Raiders ownership - Yahoo Sports

Netflix (NFLX) investors are still reeling after the tech-heavy Nasdaq Composite Index (^IXIC) posted its worst month since 2008. The stock once a big winner from the pandemic is down roughly 75% from its November peak, and its once $300 billion market cap now sits south of $80 billion.

The streaming giant's subscriber drop in April spurred speculation on Wall Street about its next big move, which could involve a lower-priced ad-supported option or even a clamp-down on password sharing. In the meantime, it's worth reviewing the storied history of the company that arguably put an entire movie-rental industry out of business.

Dial back to 1997 when Reed Hastings and Marc Randolph founded Netflix. According to Britannica, Hastings got the idea for Netflix after racking up a large fee for a video cassette he returned late. Unfortunately, streaming wasn't an option yet since web surfers were still dealing with painfully slow dial-up internet connections. The founders settled on a new Japanese technology that would soon supplant bulky VHS cassettes the digital video disk.

The same size as its compact disc cousin, the DVD drastically improved video quality and proved sturdy enough to survive the post office. It was the mail-ability of DVDs that made Hastings think Netflix would work in the first place, according to Britannica. The two were no strangers to Silicon Valley, and with seed money in hand they started the company that would change the media landscape in less than a decade.

Netflix soon made inroads in the video rental space, capitalizing on the pain points of the video rental giants at the time. You didn't have to "be kind and rewind," and Netflix dispensed with the other great hassle of the rental age: due dates and ballooning late fees.

The video-rental-as-a-service model was born. For $15.95 a month, you could fire Blockbuster (BB), though the corner video store would still have a place for years.

Story continues

The Blockbuster movie rental store is open for business in the Denver suburb of Broomfield, Colorado April 6, 2011. REUTERS/Rick Wilking (UNITED STATES - Tags: BUSINESS)

By the time the tech bubble imploded in 1999, the still-private company already boasted 239,000 subscribers with a library of 3,100 titles. Netflix hit the 1 million subscribers mark in 2001 and went public the next year at $15 per share.

As dial-up internet gave way to broadband, the streaming model finally became feasible. In 2007, Netflix launched its online streaming service, and five years later Hastings & Co. jumped into the content business with political thriller "House of Cards" and "Lilyhammer," a story of a New York mobster hiding in rural Norway.

Netflix now spends $17 billion per year on content and projects a loss of 2 million subscribers in the current quarter. It's back to the drawing board for shell shocked Netflix investors who are also grappling with tech stocks that collectively lost $1.8 trillion in April. Not only is Netflix a victim of the latest tech sector plunge, but it's also facing more competition now than it ever has in its 23-year history. The streaming competition now includes Hulu, YouTube, Disney+, Apple TV, HBO Max, Peacock, and Paramount, to name a few.

Meanwhile, networks like NBC and CBS have been pulling back their own content to bring eyeballs to their streaming platforms. Shows like "The Office" and "Friends" departed Netflix to return to NBC's Peacock. Meanwhile, Marvel parent company Disney reclaimed popular Marvel Netflix originals like "Daredevil" and "Jessica Jones."

Amid such headwinds, Piper Sandler downgraded Netflix to "neutral" last month and lowered its price target to $293 from $562, contending it's unlikely the company will return to its prior subscriber growth. Weighing in on Netflix's options, Piper Sandler analysts noted, "Password sharing and ad-supported tiers look promising, but implementation is more than two years away."

Wells Fargo isn't finding any clarity in the results either. Negative [subscription] growth and investments to reaccelerate revenues are the nail in the NFLX narrative coffin, the firm wrote. The bank's analysts added that Netflix's outlook is now clear as mud.

The stock was trading at $173.10 at market close on Monday, down from a peak of $700 a share in November 2021.

Jared Blikre is a reporter focused on the markets on Yahoo Finance Live. Follow him @SPYJared. Devan Burris is a producer with Yahoo Finance Live.

Sign up for Yahoo Finance Plus

Read the latest financial and business news from Yahoo Finance

Follow Yahoo Finance on Twitter, Instagram, YouTube, Facebook, Flipboard, and LinkedIn

Read the original:

How Netflix went from a Blockbuster killer to a company whose future is 'clear as mud' - Yahoo Finance

The Biden economy is still doing okay, but there was a notable deterioration from April to May in the Yahoo Finance Bidenomics Report Card.

President Bidens grade on the economy dropped from A- in April to B in May, because of the tumbling stock market and a dip in wages. Yahoo Finance uses data provided by Moodys Analytics to measure the presidents performance on the economy in six areas, compared with seven prior presidents at the same point in their term, going back to Jimmy Carter in the 1970s. We created the presidential report card when Donald Trump took office in 2017 and continued when Biden became president last year.

Compared with prior presidents, Biden has the top marks on total employment, GDP growth and exports. Thats not surprising, given that Biden took office as the economy was rebounding from the sharp but brief COVID recession. Even with the first-quarter decline in GDP, Biden still ranks first in growth per capita. Biden ranks second for growth in manufacturing employment, which was higher only under Jimmy Carter.

Source: Yahoo Finance, Moody's Analytics

Biden ranked second-best for stock market returns in April, but that has fallen to fourth-best amid the recent stock-market selloff. The S&P 500 stock index is still up by about 8% since Biden took office, but thats lower than the S&Ps performance under Donald Trump, Barack Obama and George H. W. Bush at the same point in their presidencies.

Bidens worst marks are on average hourly earnings, where he ranks last out of eight presidents. Nominal wage growth under Biden has been strong, but we adjust for inflation. By that measure, real wages have fallen by about 2% since Biden took office.

In fact, the biggest threat to the Biden economy is inflation, now running at a painful 8.5%. We did not include inflation as one of the six metrics in our report card for a couple of reasons. When we developed the methodology in 2017, inflation hadnt been a problem in nearly 40 years, and we didnt think it would vary much or tell us much about the economy. We also felt inflation would show up in other metrics if it did become a problem which it has, in Bidens poor earnings numbers.

Story continues

If inflation becomes serious enough to cause a recession, that would also show up in declining GDP and employment numbers. The Federal Reserve has begun raising interest rates to tamp down inflation, and most economists dont yet foresee a recession. GDP fell by 1.4% in the first quarter, but Moodys Analytics foresees annualized growth of 3.6% in the second quarter and 2.8% for the full year. Russias invasion of Ukraine and the resulting surge in energy and food prices are wild cards that could make a recession more likely if price hikes persist, or produce a burst of optimism is theres some kind of resolution.

A B economy is still pretty good. President Trump ended his presidency with a C grade, due to steep job losses and a contraction in GDP in the aftermath of the COVID pandemic. President Obama ended his first term with a B- economy, hobbled by weak employment and GDP growth. Biden is doing better than both, for now.

Consumers dont feel it, however. Consumer confidence is at a 10-year low and far below pre-pandemic levels. The gathering gloom coincides with the onset of inflation last year, and doesnt reflect a hot job market or near-record-low unemployment of 3.6%. Bidens approval rating has taken a hit, falling from 56% when he took office to about 42% now.

For what its worth, Bidens grade on the Yahoo Finance report card is more likely to improve than to decline further. A single tick upward in earnings, stocks or manufacturing employment would put Biden in the B+ range. The most likely way for that to happen would be a modest improvement in earnings, a drop in inflation (which could indirectly boost earnings) or a robust stock market recovery. All would be welcome.

Rick Newman is the author of four books, including Rebounders: How Winners Pivot from Setback to Success. Follow Rick on Twitter, sign up for his newsletter or send in your thoughts.

Read the latest financial and business news from Yahoo Finance

Follow Yahoo Finance on Twitter, Instagram, YouTube, Facebook, Flipboard, and LinkedIn

Originally posted here:

Bidens grade on the economy falls by two notches - Yahoo Finance

Meta (FB) may be too early on investing so much to build the metaverse, says early Facebook investor Reid Hoffman.

"Metaverse is one of the [technologies] where it's inevitable it happens, but when and how is a very big question," the LinkedIn founder and "The Startup of You" author said on a new episode of Yahoo Finance Presents (video above), later adding: "I don't see the signs yet that tell me that the metaverse is going to happen."

Hoffman explained that "the signs I look for are: Which application really starts taking off? ... I think entertainment is the first thing that you're going to really see. And obviously, the proponents of the metaverse will say: 'No, no... the pandemic has accelerated into it. We're doing, you know, video interviews in it. We're doing, you know, work in it. We're doing our shopping in it, we're doing our dating, and we're doing all this stuff.' And I think that's still a fair ways away."

General view of the Etro Fashion Show during Metaverse Fashion Week on March 25, 2022. (Photo by Vittorio Zunino Celotto/Getty Images)

After shocking investors in early February by outlining $90-$95 billion in expense spending this year as the social media giant builds out Zuckerberg's futuristic metaverse, the company is pulling back on that target amid slowing top line growth.

The new goal, which reflects more of an effort to protect profit margins, is now $87-$92 billion.

"These investments are going to be important for our success and growth over time," Zuckerberg told Wall Street analysts on a recent earnings call. "I continue to believe that we should see them through. But with our current business growth levels, we are now planning to slow the pace of some of our investments."

The pullback on spending comes after a mixed quarter for Meta, one where it rebounded from a terrible fourth quarter but was still not showing the same growth rates as in the past.

Meta's stock is down 41.6% so far in 2022 amid the larger rout in risk assets.

Story continues

Hoffman said that he has confidence in Facebook getting its investment spending right given its track record.

"Facebook is an extremely capable company," Hoffman said. "They have done a lot of smart investing and building of things."

That said, the tech investor then expanded on his initial question: "If you're building the technology because you think the scale go to market with is three-to-five years from now, you have to be building really hard right now. ... if it's not five years from now, maybe seven, then it's technology that you should be building four years from now."

Asked if Facebook was early on building so rapidly for the metaverse today, Hoffman replied: "They might be. That's the primary question."

Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

Read the latest financial and business news from Yahoo Finance

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and YouTube

Here is the original post:

There's 'a very big question' surrounding the metaverse, early Facebook investor Reid Hoffman says - Yahoo Finance

Yahoo Japan has revealed that it plans to go passwordless, and that 30 million of its 50 million monthly active users have already stopped using passwords in favor of a combination of FIDO and TXT messages.

A case study penned by staff from Yahoo Japan and Google's developer team, explains that the company started work on passwordless initiatives in 2015 but now plans to go all-in because half of its users employ the same password on six or more sites.

The web giant also sees phishing as a significant threat, and has found that a third of customer inquiries relate to lost credentials.

From a security perspective, eliminating passwords from the user authentication process reduces the damage from list-based attacks, and from a usability perspective, providing an authentication method that does not rely on remembering passwords prevents situations where a user is unable to login because they forgot their password, the case study states.

Yahoo Japan's replacement is either authentication by one-time codes sent by SMS, or the Fast Identity Online (FIDO) standard.

When using SMS, the company is fond of using techniques that allow Apples iOS and Googles Chrome browser to read and enter incoming one-time passwords so that users have nothing to do to arrange authentication.

Users are encouraged to use authenticator apps that work with FIDO and WebAuthn, with one-time codes generated on the device used to access Yahoo Japan.

The greatest difficulty for offering passwordless accounts is not the addition of authentication methods, but popularizing the use of authenticators, the case study states. User experience is therefore paramount.

Yahoo Japan has therefore used tricky moments to promote adoption when users sign up for services like e-commerce that have high fraud potential, or reset forgotten passwords, they receive suggestions to adopt authentication methods that are more secure and easier to use.

Users are encouraged to use the same authentication method on all their devices, but Yahoo ! Japan recognizes thats not easy or possible for all, and so will tolerate mixed methods. The company also envisages operating multiple methods for the foreseeable future.

The companys efforts have worked, in two dimensions.

The percentage of inquiries involving forgotten login IDs or passwords has decreased by 25 percent compared to the period when the number of such inquiries was at its highest, the case study explains. Yahoo Japan has also seen a decline in unauthorized access as its number of passwordless accounts rises.

See the original post:

Yahoo Japan strives for universal passwordless authentication - The Register

Fit is critical when it comes to the NFL draft.

Sure, there are myriad factors that determine whether players will find NFL success. But the matching of talent, scheme, surrounding cast and expectations can be a massive determinant on whether players work out or dont.

Landing spots are simply crucial to the equation. Some prospects just seem to end up in tough spots. Maybe the team drafting them thinks they know how best to employ them but ultimately dont. Perhaps the head coach and/or general manager is/are on the hot seat, and the next regime wont be as high on their ability.

Its not always an indictment of the players themselves. Although thats also a possible factor in how they develop or dont.

So lets examine a few higher picks from the 2022 NFL draft to see which ones might be entering trickier situations to navigate, and whether theyll be hurt by the situations in which they landed.

It starts right at the top with Walker, who was the unconventional pick at No. 1 over Aidan Hutchinson and the field. This was not a draft class with a clear-cut option at one, but Walkers combination of thrilling athletic traits and minimal production will make this whether he fails or succeeds a fascinating draft litmus test for years to come.

Walkers performance also will be scrutinized against what Hutchinson does with the Lions, fairly or not. Even if theyre different players with varying skill sets, and they might not even play similar roles on their prospective units.

Which brings us to how the Jaguars plan to use Walker. Its interesting because they clearly valued his length and versatility, and the plan appears to be using him as a stand-up rusher opposite Josh Allen and perhaps kick Walker to the interior in pass-rush situations.

"He played all the way up and down the line of scrimmage, anywhere from a 0-technique all the way to a 7-technique, Jaguars GM Trent Baalke said recently. (He also) played in the two-point (stance) off the edge, which he's going to be used a lot in our scheme."

Story continues

Travon Walker could face outsized expectations as the No. 1 overall pick of the Jacksonville Jaguars. (Photo by Todd Kirkland/Getty Images)

Walker was known to stand up in Georgias system. But he was almost always a rusher in those situations. On occasion when he dropped into coverage, maybe two or three plays per game, the results were inconclusive. The Kentucky game in particular was one where Walker looked less than fully comfortable when asked to cover instead of rush.

For a young player such as Walker, it will be important for him to use his rookie season to grow as much as possible as a playmaker and make tangible strides. But there will be a lot of pressure on him early on even some unfair pressure.

This should be viewed as a two- or three-year development period, but we all know that wont be how Walker is judged this season if hes not filling up box scores the way he seldom was able to in college. Occupying blocks for others to make plays is noble, valuable work, but its not typically how No. 1 overall picks are judged.

Just as Walker will be judged against every other highly rated defender, London will be compared to the top receivers in the 2022 draft and the next three off the board just so happened to be picked almost immediately after he was at No. 8 overall.

London was a bit of a surprise to some as the top wideout selected. That always tends to skew public perception a bit, and that tends to slant toward more pressure on the player to prove his worth in that spot, even if thats a pretty tough way to view it. After all, the team made that pick, not the player.

And realistically, he should be a pretty good fit, scheme-wise, in Atlantas offense. Theres a WR1 void he steps into immediately, and having Kyle Pitts on the field should help ease the coverage attention that London will receive.

Head coach Arthur Smith appears to want to use London similarly to how he was used in college, both inside and out, not too vastly different from what Smith asked of A.J. Brown as a rookie when they were together with the Tennessee Titans. Brown surpassed the 1,000-yard receiving mark, scored nine total TDs and finished third in the Offensive Rookie of the Year balloting.

Expectations must be managed for Falcons first-round WR Drake London early on. (Photo by David Becker/Getty Images)

At split end, London could be used as a 50-50 ball winner and on slants and deep outs; in the slot, he might be featured more on hitches, crossing routes and screens. Hell also be asked to block in the run game. All are areas where the gifted London can win.

But just how prolific will Marcus Mariota and the passing game be? Thats hard to say. And if you go back to 2019 (the last time we really saw the QB in any extensive action) and look at how Mariota worked with Brown, the relationship took time to brew.

Mariota started the first six games of the season, and Brown averaged 2.3 receptions per game (on 3.8 targets) for 45.5 yards and 0.3 TDs. Over the Titans final 10 games that year, all with Ryan Tannehill at QB, Browns per-game averages went up noticeably: 3.8 receptions (on 6.1 targets), 77.8 yards and 0.6 TD catches.

With Mariota starting early on, he targeted Corey Davis and Adam Humphries (27 targets apiece) more than he did Brown (23), with journeyman Dion Lewis and 35-year-old Delanie Walker not far behind on the pecking order (21).

We also must remember that London wont turn 21 years old until July. Not every rookie is JaMarr Chase or Justin Jefferson, after all. After all, look no further than another 21-year-old (Jerry Jeudy) as an example of a highly productive college producer who endured a somewhat frustrating rookie season, for different reasons.

London has the chops to be good right away. But it also wouldnt be shocking if his QB situation and some unrealistic expectations could mar his Year 1 experience.

The Saints behavior this offseason largely has pointed toward a belief that management views this team as a contender. You could argue that allowing Terron Armstead to walk belies that notion a bit, but they aggressively positioned themselves to fill their biggest immediate holes including and especially left tackle.

Sure, they moved up first for WR Chris Olave, another player facing some pressure to contribute in a fairly big way immediately. But the pressure on Penning to step right on the all-important blind-side spot could have a pretty big say on how New Orleans season will pan out.

Plus, both of their first-round picks came collectively at a very steep price.

Trevor Penning, who was drafted by the New Orleans Saints, is expected to fill some big shoes early at left tackle. (Photo by Jeff Speer/Icon Sportswire via Getty Images)

The jump in competition is another factor for Penning that cant be glossed over. Sure, he held his own at the Senior Bowl against higher-level prospects after spending college at the FCS level. But theres a jump beyond that when facing rushers such as Brian Burns and Shaq Barrett multiple times per season.

Pennings gnarly style should make him a popular player with Saints fans at some point. Heck, he could develop into the next Kyle Turley in time for all we know. But hes also a penalty-prone player until further notice, and the first time hes guilty of a 15-yard personal foul (and God forbid it wipes out a touchdown or big gain), Penning will come into the crosshairs.

Its been said that with the best offensive linemen, the less you hear about them, the better. We dont wholly believe thats true, but when it comes to pass-block whiffs and yellow hankies, it certainly is.

Penning doesnt profile as a player whom well not notice; whether thats a good or a bad thing remains to be seen. We can envision him being an instant hit or a player who suffers some fairly big hiccups as a rookie. The middle ground doesnt feel all that likely.

From the first time we laid eyes on Smiths ups and downs in two big games last season against Oklahoma State and Ohio State.

The two biggest takeaways after those initial viewings: 1. Wow, this kid is talented. 2. But, boy, hes raw.

Once the 2021 college season was over and we were able to view Smith in later games (albeit against lesser competition), we did feel as if Smith had improved markedly. For one, cut way down on his penalties from 15 flags in the first eight games to only one in the final four games. And after struggling as a pass blocker (especially against Oklahoma State), we thought Smith was far, far more confident and dominant in that regard later in the year.

Still, there is a whole lot of projection involved with Smith, especially in Year 1. In addition to dealing with quicker rushers and stronger run defenders, he likely will be asked to kick inside to guard a position where he played exactly two game snaps at Tulsa.

The Dallas Cowboys say they're thrilled to have drafted Tyler Smith, even if there are potential causes for concern. (Amanda McCoy/Fort Worth Star-Telegram/Tribune News Service via Getty Images)

Guard might end up being Smiths best home in the long run. He was taxed by edge speed more than once, struggled with balance on the outside and might be better able to harness his raw power in more of a phone-booth role. Having Tyron Smith on his outside hip cant hurt, either.

But learning a new position is tricky business for some offensive linemen, especially those as young (21 years old) and raw as Smith is. Plus, grabbers tend to be grabbers whether theyre playing inside or out; some of that feels like habitual muscle memory when you watch Smith panic and divert to that tactic. Ditching that habit will be key to his development.

On top of everything, playing in the cauldron of Dallas isnt for the faint of heart. If Smith struggles out of the gate (or worse yet, cant win the wide-open left guard job initially), the wolves will come out in packs.

The surprising trade of A.J. Brown left the Titans in a tricky spot for this season. It could end up hurting Burks as much as anyone in Tennessee.

Robert Woods addition from the Rams certainly helps deaden the blow a bit, but hes coming off a torn ACL and is expected to miss part of the offseason. Plus, the situation with Ryan Tannehill is getting a bit awkward. Its clear theres some tension between team and quarterback, and thats never a great thing.

But the worst thing that could have happened to Burks was being compared (by some) to A.J. Brown during the pre-draft process, mostly for size comparisons, and then landing in the void the team created by trading Brown.

Comparing Burks to Brown isnt fair or accurate, from our vantage point. Brown entered the NFL having played more outside in college (34.9% of his snaps) than Burks was (14.2%) and being used more on vertical routes. Theyre just different players, as we see it, even if their dimensions are somewhat similar. Brown was also a measurably more dynamic athlete coming out.

How the Titans plan to use Treylon Burks early could define whether he's successful long term or not. (Photo by Wesley Hitt/Getty Images)

Expecting a one-for-one replacement for Brown is just thoughtless wishcasting, and we hope the Titans show some patience with his early expectations. There was a reason Burks was slotted inside its where the Arkansas coaches felt he was best. Maybe this is how the Titans must use him, as well as on his patented trick plays. Wed absolutely sign up for a backfield formation with Burks, Derrick Henry and Malik Willis and see how defenses respond.

But simply handing the underdeveloped Burks a starting role outside and asking him to master it in Year 1 might be the worst imaginable version of throwing the kid in the deep end of the pool as a way of teaching them to swim. Thats one way you can ruin a talented player.

Will Titans coaches and fans exercise some patience for Burks Year 1 returns after the team earned a No. 1 conference seed and crashed and burned in the playoffs? If not, Burks could be made into a scapegoat if the results dont come close to matching what Brown did early on.

Follow this link:

NFL draft: 5 first-round picks entering tricky situations in Year 1 - Yahoo Sports