Archive | business

Former Gap CEO Says Kanye West Shouldn’t Have Partnered With the Brand

The former Gap CEO and retail investor often credited with the brand’s success in the 1990s says he told Kanye West not to partner with the fast fashion giant.In an interview with Yahoo Finance Live, Mickey Drexler said that working with the brand long-term “doesn’t work for someone like Kanye.””I probably shouldn’t say this but […]

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Robinhood Stock Soars in Wild Day of Trading

The newly-public no-fee trading app Robinhood saw its stock price soar by about 50 percent on Wednesday, closing at around $70 USD, according to The Wall Street Journal. The app made its debut on the NASDAQ last week at $38 USD a share.According to CNN, the stock was the most popular on Reddit’s r/WallStreetBets, where so-called meme […]

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Do Dealers Have To Pay More For Cars Due To The Inventory Shortage?

As Jalopnik’s resident car-buying expert and a professional car shopper, I get emails. Lots of emails. I’ve picked a few of your questions and will try to help out. This week we are discussing whether or not dealers have to pay more to buy cars from the factory and how long we can expect inflated […]

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Miami Launches Digital Token Called MiamiCoin

Miami is launching digital token called MiamiCoin, which the mayor has said will help the city develop its “tech ecosystem.”The coin was developed through CityCoins, a grassroots initiative which allows users to mine coins for their favorite city while also taking a cut of the yield. The premise is that CityCoins can generate two types […]

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Hermès Reveals Sales Have Returned to Pre-Pandemic Levels

Birkin-maker and French luxury company Hermès has reported that its revenue levels have more than doubled, returning the brand to pre-pandemic sales levels.With a surprising increase of revenue by 127 percent in just the second quarter of the year, Hermès’ estimates surpassed the expectations of analysts. Sales increased 33 percent higher than the same period […]

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Tesla Hits $1 Billion USD in Quarterly Profit and Louis Vuitton Is Releasing NFTs in This Week’s Business and Crypto Roundup

Many brands are starting to see a recovery despite the challenges initially brought on by the pandemic. Some businesses, especially ones that focused efforts on expanding e-commerce ventures, have even seen profits rise even higher than before.HYPEBEAST has rounded up the top business and crypto stories of the week so you can stay in-the-know about […]

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Amazon Reports $7.8 Billion USD in Profit For Second Quarter, Misses Revenue Expectations

Amazon shared its mixed second-quarter financial results on Thursday, falling short of Wall Street’s revenue expectations, but turning over strong net income.The company reported revenue of $113.1 billion USD, a 27 percent increase and a record for Q2, though still missing analyst’s expectations of $115.07 billion USD. Additionally, Amazon reported a net income of $7.8 […]

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Gucci Drives Kering’s Revenue Increase as Luxury Industry Struggles To Recover

French luxury conglomerate, Kering has reported a double increase in revenue for the second quarter of the year. Its sales are largely driven by Gucci, though the luxury industry continues to recover from the pandemic. Prior to the middle of the year, the group’s comparable revenue surged to $4.93 billion USD, which marked a 95 […]

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Google’s Parent Company Alphabet Sees 62% Revenue Surge in Q2 2021

Google’s parent company Alphabet continues to grow throughout 2021, see a staggering 62 percent increase in revenue over the second quarter year-over-year.Bringing in $61.9 billion USD in Q2, the sum also trumps the previous $55.3 billion USD in revenue over the last quarter. Net income rose even more significantly from $7 billion USD to $18.5 […]

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Apple’s Q3 2021 Revenues Hit $81.4 Billion USD

Apple has had yet another stellar quarter over Q3 of 2021, seeing a 36 percent growth in revenues year-over-year.In concrete numbers, the increase brings its revenues up to a staggering $81.4 billion USD, far surpassing the Wall Street-predicted $73. 3 billion USD. The impressive growth was largely driven by exceptional iPhone sales, which increased from […]

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Bitcoin Soars Over $40,000 USD for the First Time Since June

Bitcoin topped $40,000 USD on Monday afternoon, reaching a six-week high.The cryptocurrency jumped to $40,278 USD just before 3:30 p.m. EDT, according to Coindesk, before tapering down to around $37,300 USD at the time of posting. According to Coinbase, the digital coin saw an increase of about 7.5 percent within the last 24 hours, exceeding a market […]

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LVMH’s Second-Quarter Revenue Soars Above Pre-Pandemic Numbers

LVMH — the world’s largest luxury goods group that represents a collection of 70 distinguished Houses across fashion, cosmetics, perfumes and several other industries — announced on Monday a second-quarter revenue of €14.7 billion EUR, or $17.5 billion USD. The new figure is roughly 14 percent higher than numbers reported in the same-period two years […]

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Amazon Appears To Be Expanding Into Cryptocurrency

Amazon appears to be expanding into cryptocurrency and blockchain products, according to a job posting first reported on by Insider.According to the listing, Amazon is looking to hire a “Digital Currency and Blockchain Product Lead” who will “innovate on behalf of customers within the payments and financial system.” The Seattle-based position would be a part […]

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LeBron James Said To Be the First Active NBA Player To Earn $1 Billion USD

LeBron James, a Los Angeles Lakers player, businessman and now movie actor, is the first active NBA player to earn $1 billion USD, according to Sportico.According to Sportico’s sports valuation reporter Kurt Badenhausen, the 36-year-old’s career earnings, which include salaries and endorsements, currently total just over $1 billion USD. Badenhausen says that James is the […]

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