Archive | business

H&M Expects to Shrug off Coronavirus Losses

H&M, like so many other fashion companies, posted significant losses during the early days of the coronavirus pandemic, but the ever-agile fast fashion behemoth is readying itself for a major comeback by year’s end. Like similarly-minded low-cost retailers, the fast fashion giant lost money but is planning a major revival before 2021.With expected pre-tax profit […]

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U.S. Customs and Border Protection Mistakes OnePlus Buds for “Counterfeit Apple AirPods”

The United States‘ Customs and Border Protection has seized “counterfeit Apple AirPods” that, as reports and images show, turned out to be likely legitimate OnePlus wireless earbuds. In its tweet, the CBP says, “CBP officers at JFK Airport recently seized 2,000 counterfeit Apple AirPods from Hong Kong, valued at $398K had they been genuine.” A […]

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Nikola “Is an Intricate Fraud Built on Dozens of Lies” According To Hindenburg Research Report

North American automotive company Nikola has come under fire following claims reported by Hindenburg Research earlier this month in a well-documented filing it called, “How to Parlay An Ocean of Lies Into a Partnership With the Largest Auto OEM in America.”Hindenburg Research claimed that “Nikola is an intricate fraud built on dozens of lies over […]

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NVIDIA Acquires Chip Design Giant Arm Limited in $40 Billion USD Deal

Shortly unveiling its highly-anticipated “Ampere” RTX 3000 series of graphics cards just earlier this month, NVIDIA has now announced that it intends to acquire chip design firm Arm Limited from its current owner SoftBank for a staggering $40 billion USD. The board of all three companies have already agreed on an outline of the acquisition, […]

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J.Crew Successfully Emerges From Chapter 11 Bankruptcy With New Owner

J.Crew has now emerged successfully from its Chapter 11 bankruptcy with plans for long-term growth put in place after restructuring. Anchorage Capital Group has become its new majority owner following an equitization of more than $1.6 billion USD of secured indebtedness. Along with a new owner, the fashion brand has obtained a $400 million USD […]

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Jon Wexler Shares the Most Important Thing He Learned From Kanye West

Jon Wexler is no stranger to sending shockwaves through the world of street culture. The man affectionately known as “Wex” did so once again when it was announced earlier this month that he’d be leaving his position as GM of adidas YEEZY to join Shopify as Vice President of the company’s creator and influencer program. […]

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LVMH Counter-Sues Tiffany & Co. After Collapse of Acquisition Deal

Only a day after Tiffany & Co. initiated a lawsuit against LVMH, the French conglomerate has struck back with its own counter suit. In its response, LVMH accused Tiffany of slander, misdirection and mismanagement, particularly in relation to the coronavirus pandemic.The the $16.2 billion USD acquisition crumbled after LVMH reported another delay, which may have […]

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LVMH Cancels Tiffany & Co. Acquisition

After news emerged last month of a delay until late November, LVMH has now cancelled its much-heralded acquisition of Tiffany & Co. The $16.2 billion USD deal was agreed between the two parties in November last year, and is described by Business of Fashion as “luxury’s biggest-ever deal,” however a trade dispute between the U.S. […]

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LVMH Cancels Tiffany & Co. Acquisition

After news emerged last month of a delay until late November, LVMH has now cancelled its much-heralded acquisition of Tiffany & Co. The $16.2 billion USD deal was agreed between the two parties in November last year, and is described by Business of Fashion as “luxury’s biggest-ever deal,” however a trade dispute between the U.S. […]

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Former Paradox Testers Say “We Were Severely Underpaid” Before Being Laid Off

Paradox Interactive, one of the biggest developers and publishers of PC strategy games—they’re responsible for this month’s Crusader Kings III—closed their internal Quality Assurance (QA) department last year, and a report on Rock Paper Shotgun alleges it was done in about the worst way possible.Read more… Continue Reading at https://kotaku.com

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