Xorte logo

News Markets Groups

USA | Europe | Asia | World| Stocks | Commodities



Add a new RSS channel

 

Keywords

E-Commerce

2025-07-25 17:23:48| Fast Company

President Donald Trump on Thursday signed an executive order mandating that federal authorities clarify whether college athletes can be considered employees of the schools they play for in an attempt to create clearer national standards in the NCAA’s name, image and likeness era.Trump directed the secretary of labor and the National Labor Relations Board to clarify the status of collegiate athletes through guidance or rules “that will maximize the educational benefits and opportunities provided by higher education institutions through athletics.” The order does not provide or suggest specifics on the controversial topic of college athlete employment.The move comes after months of speculation about whether Trump will establish a college sports commission to tackle some of the thorny issues facing what is now a multibillion-dollar industry. He instead issued an order intended to add some controls to “an out-of-control, rudderless system in which competing university donors engage in bidding wars for the best players, who can change teams each season.”“Absent guardrails to stop the madness and ensure a reasonable, balanced use of resources across collegiate athletic programs that preserves their educational and developmental benefits, many college sports will soon cease to exist,” Trump’s order says. “It is common sense that college sports are not, and should not be, professional sports, and my administration will take action accordingly.”There has been a dramatic increase in money flowing into and around college athletics and a sense of chaos. Key court victories won by athletes angry that they were barred for decades from earning income based on their celebrity and from sharing in the billions of revenue they helped generate have gutted the amateurism model long at the heart of college sports.Facing a growing number of state laws undercutting its authority, the NCAA in July 2021 cleared the way for athletes to cash in with NIL deals with brands and sponsors deals now worth millions. That came mere days after a 9-0 decision from the Supreme Court that found the NCAA cannot impose caps on education-related benefits schools provide to their athletes because such limits violate antitrust law.The NCAA’s embrace of NIL deals set the stage for another massive change that took effect July 1: The ability of schools to begin paying millions of dollars to their own athletes, up to $20.5 million per school over the next year. The $2.8 billion House settlement shifts even more power to athletes, who have also won the ability to transfer from school to school without waiting to play.At Big Ten Conference football media days in Las Vegas, Purdue coach Barry Odom was asked about the Trump order.“We’ve gotten to the point where government is involved. Obviously, there’s belief it needs to be involved,” he said. “We’ll get it all worked out. The game’s been around for a hundred years and it’s going to be around 100 more.”The NCAA has been lobbying for several years for limited antitrust protection to keep some kind of control over this new landscape and avoid more crippling lawsuits but a handful of bills have gone nowhere in Congress. Trump’s order makes no mention of that, nor does it refer to any of the current bills in Congress aimed at addressing issues in college sports.NCAA President Charlie Baker and the nation’s largest conferences both issued statements saying there is a clear need for federal legislation.“The association appreciates the Trump administration’s focus on the life-changing opportunities college sports provides millions of young people and we look forward to working with student-athletes, a bipartisan coalition in Congress and the Trump administration,” said Baker, while the conferences said it was important to pass a law with national standards for athletes’ NIL rights as soon as possible.The 1,100 universities that comprise the NCAA have insisted for decades that athletes are students who cannot be considered anything like a school employee. Still, some coaches have recently suggested collective bargaining as a potential solution to the chaos they see.It is a complicated topic: Universities would become responsible for paying wages, benefits, and workers’ compensation and schools and conferences have insisted they will fight any such move in court. While private institutions fall under the National Labor Relations Board, public universities must follow labor laws that vary from state to state and it’s worth noting that virtually every state in the South has “right to work” laws that present challenges for unions.Trump’s order also: Calls for adding or at least preserving athletic scholarships and roster spots for non-revenue sports, which are those outside football and basketball. The House settlement allows for unlimited scholarships but does impose roster limits, leading to a complicated set of decisions for each program at each school that include potential concerns about Title IX equity rules. Trump said “opportunities for scholarships and collegiate athletic competition in women’s and non-revenue sports must be preserved and, where possible, expanded.” Asks the Justice Department and Federal Trade Commission to “preserve college athletics through litigation” and other actions to protect the rights and interests of athletes a stance that could influence ongoing lawsuits filed by athletes over eligibility and other issues. Directs White House staff to work with the U.S. Olympic and Paralympic Committee to protect the collegiate pipeline feeding Team USA. College sports programs produce around three-quarters of U.S. Olympians at a typical Summer Games, but some are on uncertain footing as schools begin sharing revenue with athletes and the lion’s share going to football and basketball. Will Weissert, Associated Press AP National Writer Eddie Pells contributed.

Category: E-Commerce
 

2025-07-25 15:47:49| Fast Company

U.S. stocks are hanging around their records on Friday and coasting toward the close of another winning week.The S&P 500 was edging up by 0.1% in early trading, coming off its latest all-time high, and is on track to finish its fourth winning week in the last five. The Dow Jones Industrial Average was up 71 points, or 0.2%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was drifting around its record set the day before.Deckers, the company behind Ugg boots and Hoka shoes, jumped 16.6% after reporting stronger profit and revenue for the spring than analysts expected. Its growth was particularly strong outside the United States, where revenue soared nearly 50%.Edwards Lifesciences rose 8% after likewise topping Wall Street’s expectations for profit in the latest quarter. It said it saw strength across all its product groups, and it expects profit for the full year to come in at the high end of the forecasted range it had given earlier.They helped offset drop of 8.8% for Intel, which fell after reporting a loss for the latest quarter, when analysts were looking for a profit. The struggling chipmaker also said it would cut thousands of jobs and eliminate other expenses as it tries to turn around its fortunes. Intel, which helped launch Silicon Valley as the U.S. technology hub, has fallen behind rivals like Nvidia and Advanced Micro Devices while demand for artificial intelligence chips soars.The pressure is on companies to deliver solid growth in profits after their stock prices rallied to record after record in recent weeks. Wall Street has zoomed higher on hopes that President Donald Trump will reach trade deals with other countries that will lower his stiff proposed tariffs, along with the risk that they could cause a recession and drive up inflation. Trump has recently announced deals with Japan and the Philippines, and the next big deadline is looming on Friday, Aug. 1.Besides potential trade talks, next week will also feature a meeting by the Federal Reserve on interest rates. Trump again on Thursday lobbied the Fed to cut rates, which he has implied could save the U.S. government money on its debt repayments.Fed Chair Jerome Powell, though, has continued to insist he wants to wait for more data about how Trump’s tariffs will affect the economy and inflation before the Fed makes its next move. Lower interest rates can help goose the economy, but they can also give inflation more fuel.Lower rates also may not lower the U.S. government’s costs to borrow money, if the bond market feels they could send inflation higher in the future. In that case, lower short-term rates brought by the Fed could actually have the opposite effect and raise the interest rates that Washington must pay to borrow money over the long term.The widespread expectation on Wall Street is that the Fed will wait until September to resume cutting interest rates.In the bond market, Treasury yields held relatively steady following Trump’s latest attempt to push Powell to cut interest rates. Trump also seemed to back off on threats to fire the Fed’s chair.“To do that is a big move, and I don’t think that’s necessary,” Trump said. “I just want to see one thing happen, very simple: Interest rates come down.”If Trump fired Powell, he’d risk freaking out financial markets by raising the possibility of a less independent Fed, one unable to make the unpopular choices that are necessary to keep the economy healthy.The yield on the 10-year Treasury edged down to 4.42% from 4.43% late Thursday. The two-year Treasury yield, which more closely tracks expectations for what the Fed will do, held steady at 3.91%.In stock markets abroad, indexes slipped across much of Europe and Asia.Stocks fell 1.1% in Hong Kong and 0.3% in Shanghai. U.S. Treasury Secretary Scott Bessent has said he will meet with Chinese officials in Sweden next week to work toward a trade deal with Beijing ahead of an Aug. 12 deadline. Trump has said a China trip “is not too distant” as trade tensions ease. AP Writers Teresa Cerojano and Matt Ott contributed. Stan Choe, AP Business Writer

Category: E-Commerce
 

2025-07-25 14:57:55| Fast Company

College admissions are at a critical juncture. Enrollment patterns are changing, with the enrollment cliff now in full view. AI is transforming how students apply to college and how schools evaluate their potential. Additionally, institutions are navigating a complex maze of funding and policy requirementsand, at times, increased political pressures. Amid these challenges, many higher education institutions are realizing that traditional recruitment playbooks no longer cut it. This year, admissions leaders are rethinking how to attract, evaluate, and support students, while answering a fundamental question: How do we demonstrate the value of a college degree in a world that keeps questioning its worth? These seismic shifts were made clear in a new report by the company I cofounded, Acuity Insights. Our survey of admissions leaders across the U.S., Canada, the U.K., and Australia found that admissions teams are under greater pressure to not only react to changes but actively rebuild for the future. From revamping how they assess applicants to retooling how they build lasting, student-centered strategies, schools need to lay the groundwork for long-term resilience and success. Enrollment, policy, and technology changes are keeping admissions leaders on their toes Lets start with the elephant in the room: Enrollment is down, and its only expected to get worse. With the demographic cliff expected to hit in earnest by fall 2025, admissions leaders are bracing for an even steeper drop in high school graduates entering the pipeline. Its no surprise that 41% of admissions leaders cited competition from other institutions as their top challenge, followed closely by 36% who pointed to the declining interest in traditional college education. These concerns have sparked a new focus on student retention and career readiness; schools need to not only get students in the door, but also support their students success all the way to graduation. Layered on top of enrollment concerns are significant policy shifts. Nearly half (46%) of U.S. admissions leaders say they feel fully prepared to navigate changes in financial aid, affirmative action, and DEI policies. However, a near equal percentage (45%) only feel moderately prepared for these changes, which will require updates in admissions criteria and renewed efforts around compliance. At the same time, todays applicants are evolving just as rapidly. Digitally native students are bringing AI into the admissions process. Our fall 2024 survey of 1,000 recent higher education applicants found that 35% used AI tools like ChatGPT during the application process (and thats just the ones who were willing to admit it). Its no surprise that 78% of admissions leaders are concerned about how AI might compromise the authenticity and integrity of student submissions, especially as generative tools become more sophisticated and harder to detect. These combined shifts demand a careful balancing act. Admissions teams must weigh innovation with integrity, speed with substance, and institutional competitiveness with their core mission of educating and preparing students for success beyond graduation. 3 areas where admissions is adapting the most Its encouraging to see that many admissions leaders are rolling up their sleeves and making real changes to the admissions process. Here are three key areas in which were seeing admissions teams adapt their practices to todays landscape: 1. Increased reliance on AI AI isnt just transforming how students complete their college applications, its transforming how institutions evaluate and select applicants. In response, more than half (51%) of admissions leaders believe AI will significantly change the evaluation and selection process. AI is making it easier to maintain a more holistic review process without sacrificing efficiency. Half of admissions leaders said their teams are using AI to identify key noncognitive factors (such as leadership, resilience, and civic engagement), and 38% report using it to predict students’ success based on various academic and personal criteria. Beyond evaluation, AI is also being used to improve student communication and engagement, with 38% of leaders seeing value in its ability to provide more personalized support throughout the admissions journey. 2. Greater emphasis on the value of higher education With public skepticism on the rise, students and their families are carefully weighing the cost and career outcomes of a college degree.  As a result, admissions teams are increasingly focused on proving value and communicating why a degree is still a worthwhile investment. According to our survey, 34% of schools are emphasizing career readiness and employability in their messaging. Another 33% are doubling down on experiential learning opportunities that give students real-world context for what theyre studying. Alumni success stories are also becoming a key tactic. Nearly a quarter of admissions teams are leveraging their graduates journeys to illustrate the long-term value of a degree, both professionally and personally. Demonstrating the tangible benefits of higher education doesnt just apply to attracting students, its also crucial in retaining them. With fewer students entering the pipeline, institutions simply cant afford to lose students midway through their programs. Thats why many schools are doubling down on highlighting academic support, advising, and career services that ensure students stay enrolled, engaged, and on track to graduate. Moving beyond traditional metrics Admissions teams are also rethinking what makes a student qualified. Standardized test scores are no longer the be-all and end-all: 57% of admissions leaders are placing greater emphasis on personal qualities and life experiences during application reviews, while 31% are expanding how they evaluate extracurriculars and community impact. This shift is part of a broader move away from rigid, one-size-fits-all admissions processes toward more holistic practices, where applicants life experiences and nonacademic skills are considered alongside academic knowledge. Instead of relying solely on standardized tests, personal essays, and GPAs, admissions teams are leveraging personalized and student-focused pathways that account for the unique backgrounds, personal achievements, and soft skills that applicants bring to the table. In todays complex world, qualities like leadership, civic engagement, and creative thinking can be just as predictive of a students potential as GPA or test scoresand its encouraging to see institutions’ amissions processes evolve to match. Rebuilding admissions for a new era This is a watershed moment for admissions. As enrollment declines, policy shifts, and technology evolves, institutions are being called on to reimagine their most fundamental processes. Ultimately, by embracing innovative technology, better demonstrating real-world value, and revamping admissions practices, institutions are working to rebuild trust in higher education and remind students why its still a powerful pathway forward. More than anything, these transformations reflect a bold commitment to progress and the long-term vitality of higher education. The institutions that adapt now will define what opportunity looks like for the next generation.

Category: E-Commerce
 

2025-07-25 14:48:52| Fast Company

Lawmakers on Maui passed legislation Thursday aimed at eliminating a large percentage of the Hawaiian island’s vacation rentals to address a housing shortage exacerbated by the wildfire that destroyed most of Lahaina two years ago.It’s the latest action by a top global tourist destination to push back against the infiltration of vacationers into residential neighborhoods and tourism overwhelming their communities. In May, Spain ordered Airbnb to block more than 65,000 holiday listings on its platform for having violated rules. Last month, thousands of protesters in European cities like Barcelona and Venice, Italy, marched against the ills of overtourism.The Maui County Council’s housing committee voted 6-3 to pass the bill, which would close a loophole that has allowed owners of condos in apartment zones to rent their units for days or weeks at a time instead of a minimum of 180 days. The mandate would take effect in the West Maui district that includes Lahaina in 2028. The rest of the county would have until 2030 to comply.The council still needs to vote on the bill, but the committee’s result is a strong indication of the final outcome because all nine council members sit on the housing panel. The mayor is expected to sign the bill, which he proposed.“Bill 9 is a critical first step in restoring our commitment to prioritize housing for local residents and securing a future where our keiki can live, grow, and thrive in the place they call home,” Maui Mayor Richard Bissen said in a statement, using the Hawaiian word for children. Vacation rentals take up one-fifth of Maui’s housing Vacation rentals currently account for 21% of all housing in the county, which has a population of about 165,000 people.An analysis by University of Hawaii economists predicted the measure would add 6,127 units to Maui’s long-term housing stock, increasing supply by 13%.Opponents questioned whether local residents could afford the condos in question, noting that many of the buildings they are in are aging and their units come with high mortgages, insurance payments, maintenance and special assessment costs.Alicia Humiston said her condo is in a hotel zone so it won’t be affected. But she predicted the measure will hurt housekeepers, plumbers, electricians and other small business owners who help maintain vacation rentals.“It’s not what’s best for the the community,” said Humiston, who is president of the Rentals by Owner Awareness Association.Bissen proposed the legislation last year after wildfire survivors and activists camped out on a beach popular with tourists to demand change. Mayor says tourism will continue but must not ‘hollow out our neighborhoods’ The University of Hawaii study said only about 600 new housing units are built in the county each year so converting the vacation rentals would be equivalent to a decade’s worth of new housing development. Condo prices would drop 20-40%, the study estimated.The report also predicted one-quarter of Maui County’s visitor accommodations would vanish and visitor spending would sink 15%. It estimated gross domestic product would contract by 4%.The mayor said such economic analysis failed to tell a full story, noting families are torn apart when high housing costs drive out relatives and that cultural knowledge disappears when generations leave Maui.The mayor told the council the bill was one part of a broader housing strategy that would include building new housing, investing in infrastructure and stopping illegally operated vacation rentals. He said there were limits to how much new housing could be built because of constraints on water supplies and sewer infrastructure.Tourism would continue on Maui but must do so in a way “that doesn’t hollow out our neighborhoods,” the mayor said.The mayor’s staff told council members that visitor spending would decline with the measure but most of the drop would be on lodging. Because 94% of those who own vacation rentals in apartment zones don’t live on Maui, they said much of this income already flows off-island. They predicted the county budget could withstand an estimated $61 million decline in annual tax revenue resulting from the measure. Audrey McAvoy, Associated Press

Category: E-Commerce
 

2025-07-25 14:30:00| Fast Company

Apple says the upcoming iOS 26, expected in a polished release version in September, will support devices back to the iPhone 11 from September 2019 and second-generation iPhone SE from April 2020both with A13 Bionic processors. For those who don’t want to wait, the iOS26 public beta release is now available.  It previews many updates, including call and text spam filtering, and revamped designs for apps such as Camera, Wallet, and especially CarPlay. Apple has revived the translucent look of the Liquid Glass interface after toning it down in the third beta released for app developers on July 7. Some of the biggest changes in iOS 26 are for the newest modelsstarting with the iPhone 15 Prowith upgrades to the Apple Intelligence AI suite, such as live translation and visual search across apps. iOS 26 on older iPhones: mostly positive signs But how well will iOS 26 support older devices? To get a sense, I ran formal tests with an SE2 running developer beta 3, and also lived with it as my personal phone for over a week. I then upgraded to developer beta 4 and finally the public beta this week. It’s common for such early versions to be buggy. Much to my surprise, even the experience with developer beta 3 was very smooth, with no major issues in performance and none in battery life. The public beta brought some incremental improvements, especially in graphics performance. These are good signs for September’s release version. Of course, that’s not a guarantee. Online discussions of the developer beta 3 were mixed, with some testers reporting battery issues and sluggish performance. Some issues diminished in beta 4, but other random bugs with apps, such as CarPlay compatibility, emerged. The iOS 26 public beta appears to be very close to or even the same as the latest developer beta, but all its fixes and foibles won’t be clear until a lot of people try it for a while. And the Apple Beta Software Agreement exempts the company from any responsibility if things go south. The ideal way is to use an old phone you don’t need; the next best is to first back up your phone and learn how to restore it if things go wrong. However, my positive experiences with the iOS 26 betas jibe with early impressions from several pros whose job includes testing new software on old devices. Tom Quinlan, a longtime technician at Apple-authorized service provider Charlotte Street Computers in Asheville, North Carolina, tried Developer Beta 3 on an iPhone 11 and came away impressed. I must say it did NOT feel sluggish, he writes in an email. I am very surprised. Used-device sellers are another early indicator. A few of our team members are running the [Developer Beta 3] for iOS 26 on their devices and are fans of the new release, says Michael Lipson, director of technology at Swappa, an online marketplace. They ran the software on an iPhone 12 and a third-gen iPhone SE.  Performance comparison: iOS18.5 versus iOS 26 beta In my tests with the SE2, shows played just as smoothly in the Amazon Prime Video app on iOS 18.5 and iOS 26 developer and public betas. Response times when tapping, scrolling, or opening apps (Photos, Camera, Mail, Reminders, Clock) were comparable at first. Over the week, though, I did notice occasional sluggishness in the interface of developer beta 3. I will keep an eye on the public beta in the coming days. My tests with the 3DMark Wild Life graphics benchmark showed insignificant differences, with average scores of 6,082 on iOS 18.5 vs. 5,766 on iOS 26 public beta. For real-world perspective: Average frame rates dropped from 36.4 fps to 34.5 fps. Battery life was unchanged. I tested the SE2 (which had 88% of its original battery capacity) by playing shows in the Apple Podcasts app, with a half-light/half-dark screen. I set brightness at 50% and disabled low power mode. Running the battery from 80% to zero took close to five hours with all OS versions. Is it safe to install iOS 26 public beta now? Beta versions carry risks, but so do release builds. Last years iPadOS 18 bricked some iPads with M4 processors, prompting Apple to rush out version 18.0.1 with fixes. If you’re not prepared for possible glitches, the public beta may not be for you. And it won’t hurt to wait a few days after the release version drops to see how it shakes out. Predictions for September are favorable for all iPhones. Based on past versions [of iOS], it should run perfectly, and theres no reason not to update to iOS 26, writes Kewin Charron, senior lead refurbishment operations manager at Back Market, a Swappa competitor. But hes not committing to a time frame for their sellers, saying it will depend on how stable they find the nearly final beta version, called release candidate, to be. Sellers really want to avoid support headaches, and you may, too.

Category: E-Commerce
 

2025-07-25 14:11:00| Fast Company

TikTok has become obsessed with an alleged shoplifter who spent seven straight hours in a Target before being detained by security on her way out. Now, people are making pilgrimages to the Target store in Illinois. The woman, a tourist visiting the U.S., allegedly stole approximately $1,300 worth of merchandise from Target on May 1. After body camera footage of her detainment was uploaded to the Body Cam Edition YouTube channel last week, it quickly went viral, thanks in part to her now-infamous defense: But if Im paying for it, what is the harm? The 20-minute video has since been clipped and shared widely across social media, with segments racking up millions of views. How is it even logistically possible for someone to spend seven consecutive hours in one store? one YouTube commenter asked. Do you just walk around in circles? Some have dubbed her an icon, with videos ranking the best moments from the footage. Others within driving distance of the Target have taken it upon themselves to visit the location, the Daily Dot reported. Target lady Target tour, one TikTok user posted, adding they have nothing better to do. A true historical landmark, another wrote, showing footage of the actual door behind which the woman was detained. Following the viral story, the U.S. embassy in India issued a statement about the Target shoplifter, the Independent reported. Committing assault, theft, or burglary in the United States wont just cause you legal issuesit could lead to your visa being revoked and make you ineligible for future U.S. visas, it stated. The United States values law and order and expects foreign visitors to follow all U.S. laws.

Category: E-Commerce
 

2025-07-25 13:43:48| Fast Company

The $8.4 billion merger between Paramount Global and Skydance Media won approval from U.S. regulators on Thursday, clearing the way for a sale that evolved into a clash over press freedom in the era of President Donald Trump. The deal will put well-known entertainment properties including the CBS broadcast television network, Paramount Pictures, and the Nickelodeon cable channel under the ownership of tech scion David Ellison. Paramount this month paid $16 million in a controversial move to settle a lawsuit Trump filed against the company and CBS News, sparking accusations it effectively had paid for approval of the merger. The Federal Communications Commission approved the deal in a partisan 2-1 vote that allows the transfer of CBS television stations. FCC Chairman Brendan Carr, an appointee of Republican Trump, said the agency had received assurances from the incoming owners that they were committed to unbiased journalism. Democrat Anna Gomez, the FCC’s dissenter, accused Paramount of “cowardly capitulation” to the Trump administration. She also said the FCC was imposing “never-before-seen controls over newsroom decisions.” CBS News was one of several news organizations Trump attacked for what he viewed as unfavorable coverage. Paramount paid Trump to end a lawsuit he filed over CBS’ editing of a “60 Minutes” interview with his Democratic opponent, Kamala Harris. Trump, who often accuses media outlets of liberal bias and “fake news,” argued that the editing was designed to make Harris look good. First Amendment lawyers said the suit was without merit. Carr has said the agency’s review of the proposed merger was not connected to the lawsuit. Senators Edward Markey of Massachusetts and Ben Ray Luján of New Mexico said the merger “reeks of the worst form of corruption,” coming on the heels of Paramount’s settlement. The commission received pledges from Skydance that it would appoint an ombudsman to evaluate complaints of editorial bias or other concerns about CBS. Skydance also told the FCC it would not establish any diversity, equity, and inclusion initiatives, which Trump believes are discriminatory. “These commitments, if implemented, would enable CBS to operate in the public interest,” Carr said, who also hailed “another step forward in the FCC’s efforts to eliminate invidious forms of DEI discrimination.” “The Late Show” host Stephen Colbert had called Paramount’s settlement “a big fat bribe.” His show was canceled days later in what Paramount called a financial decision unrelated to politics. It marks the end of an era for the family of the late Sumner Redstone, who transformed the family’s chain of drive-in movie theaters into a media empire that once spanned broadcast and cable television, film, radio and publishing. His daughter Shari Redstone became chair of Paramount in 2019. At the time, she hoped to better position the company to compete with the world’s entertainment giants. Paramount has since shed billions of dollars in market valuation as it struggled to navigate an entertainment business upended by the streaming video revolution. The FCC approved the transaction after a review of more than 250 days, longer than the commission’s target of completing such reviews within 180 days. Skydance CEO David Ellison, son of Oracle co-founder Larry Ellison, is poised to become chair and chief executive of the new Paramount. Jeff Shell, former chief executive of Comcast’s NBCUniversal, will be its new president. Chris McCarthy, one of Paramount’s current trio of CEOs has decided to depart the company once the merger is completed, a source with knowledge of the matter said. Paramount’s stock rose about 1.4% in after-hours trading to $13.45. Dawn Chmielewski, David Shepardson and Lisa Richwine, Retuers

Category: E-Commerce
 

2025-07-25 13:04:51| Fast Company

The female executive who was caught on camera embracing the CEO of her company at a Coldplay concert in a moment that went viral has resigned, according to news reports.Multiple news outlets reported that Kristin Cabot, the executive in charge of human resources at tech company Astronomer, has resigned.Her departure follows the resignation of CEO Andy Byron, who quit after the company said he was being put on leave pending an investigation.The episode resulted in endless memes, parody videos and screenshots of the pair’s shocked faces filling social media feeds.Cabot and Byron were caught by surprise when singer Chris Martin asked the cameras to scan the crowd for his “Jumbotron Song” during the concert last week at Gillette Stadium in Foxborough, Massachusetts.They were shown cuddling and smiling, but when they saw themselves on the big screen, Cabot’s jaw dropped, her hands flew to her face and she spun away from the camera while Byron ducked out of the frame.“Either they’re having an affair or they’re just very shy,” Martin joked in video that spread quickly around the internet.When the video first spread online it wasn’t immediately clear who they were, but online sleuths rapidly figured out their identities. The company has previously confirmed the identities of the couple in a statement to the AP.Both of their profiles have been now removed from Astronomer’s website and a November press release announcing her hiring has also been deleted.Astronomer was a previously obscure tech company based in New York. It provides big companies with a platform that helps them organize their data.Online streams of Coldplay’s songs jumped 20% in the days after the video went viral, according to Luminate, an industry data and analytics company. Associated Press

Category: E-Commerce
 

2025-07-25 12:50:11| Fast Company

President Donald Trump locked horns with Federal Reserve Chair Jerome Powell during a rare presidential visit to the U.S. central bank on Thursday, criticizing the cost of renovating two historical buildings at its headquarters and pressing the case for lower interest rates. Trump, who called Powell a “numbskull” earlier this week for failing to heed the White House’s demand for a large reduction in borrowing costs, wrapped up his visit to the Fed’s $2.5 billion building project in Washington by saying he did not intend to fire Powell, as he has frequently suggested he would. “To do so is a big move and I just don’t think it’s necessary,” Trump told reporters after the visit. In a post on his Truth Social media site, Trump later said of the renovation, “it is what it is and, hopefully, it will be finished ASAP. The cost overruns are substantial but, on the positive side, our country is doing very well and can afford just about anything.” The visibly tense interaction at the Fed’s massive construction site marked an escalation of White House pressure on the central bank and Trump’s efforts to get Powell to “do the right thing” on rates. It happened less than a week before the central bank’s 19 policymakers are due to gather for a two-day rate-setting meeting, where they are widely expected to leave their benchmark interest rate in the 4.25% to 4.50% range. The president has repeatedly demanded Powell slash rates by 3 percentage points or more. “I’d love him to lower interest rates,” Trump said as he wrapped up the tour, as Powell stood by, his face expressionless. Powell typically spends the Thursday afternoon before a rate-setting meeting doing back-to-back calls with Fed bank presidents as part of his preparations for the session. The encounter between the two men became heated as Trump told reporters the project was now estimated to cost $3.1 billion. “I am not aware of that,” Powell said, shaking his head. Trump handed him a piece of paper, which Powell examined. “You just added in a third building,” the Fed chief said, noting that the Martin Building had been completed five years ago. White House budget director Russell Vought and Trump’s deputy chief of staff, James Blair, who have spearheaded criticism of the renovation as overly costly and ostentatious, later told reporters they still have questions about the project. The two men, who joined Trump during the visit, have suggested poor oversight and potential fraud in connection with it. Senate Banking Committee Chair Tim Scott, a Republican who sent Powell a letter on Wednesday demanding answers to his own questions about the renovation, also took part in the visit. Elevated by Trump to the top Fed job in 2018 and then reappointed by former President Joe Biden four years later, Powell last met with the current president in March when Trump summoned him to the White House to press him to lower rates. The visit on Thursday took place as Trump battles to deflect attention from a political crisis over his administration’s refusal to release files related to convicted sex offender Jeffrey Epstein, reversing a campaign promise. Epstein died in 2019. The Fed, in letters to Vought and lawmakers backed up by documents posted on its website, said the project the first full rehab of the two buildings since they were built nearly a century ago ran into unexpected challenges including toxic materials abatement and higher-than-estimated costs for materials and labor. Speaking outside of the construction site, Trump said there was “no tension” at his meeting with Powell and that they had a productive conversation about rates. FED INDEPENDENCE Ahead of Trump’s visit, Fed staff escorted a small group of reporters around the two construction sites. They wove around cement mixers and construction machines, and spoke over the sound of drills, banging, and saws. Fed staff pointed out security features, including blast-resistant windows, that they said were a significant driver of costs in addition to tariffs and escalations in material and labor costs. The project started in mid-2022 and is on track to be completed by 2027, with the move-in planned for March of 2028. A visit to the roof of the Eccles Building, a point of particular scrutiny by critics like Scott, who has complained about “rooftop garden terraces,” revealed an impressive view of the Lincoln Memorial and the National Mall, according to the pool report. Staff explained that rooftop seating, although inexpensive, had been removed because of the appearance of it being an amenity and was one of only two deviations from the original plan. The other was the scrapping of a couple of planned fountains. Market reaction to Trump’s visit was subdued. The yield on benchmark 10-year Treasury bonds ticked higher after data showed new jobless claims dropped in the most recent week, signaling a stable labor market not in need of support from a Fed rate cut. The S&P 500 equities index closed largely flat on the day. Trump’s criticism of Powell and flirtation with firing him have previously upset financial markets and threatened a key underpinning of the global financial system that central banks are independent and free from political meddling. His trip contrasts with a handful of other documented presidential visits to the Fed. Then-President Franklin Delano Roosevelt visited the central bank in 1937 to dedicate the newly-built headquarters, one of the two buildings now being renovated. Most recently, former President George W. Bush went there in 2006 to attend the swearing-in of Ben Bernanke as Fed chief. Ann Saphir, Jasper Ward and Kanishka Singh, Retuers

Category: E-Commerce
 

2025-07-25 12:41:00| Fast Company

In the midst of an ongoing turnaround effort, Intel Corp. reported $12.9 billion in revenue as part of its second-quarter financial results on Thursday, matching year-over-year (YOY). The sum beat Wall Street forecasts, according to consensus estimates cited by CNBC, but it wasnt enough to offset news about higher losses, additional layoffs, and the scaling back of Intel’s foundry business.  The chip manufacturer saw its stock price (Nasdaq: INTC) briefly rise as the market closed, but shares have since tumbled about 8% in after-hours and premarket trading, as of this writing.  What did Intel report? Lets start with the money: Intel reported a $2.9 billion loss (67 cents per share), compared to $1.6 billion (38 cents per share) YOY. At the same time, CEO Lip-Bu Tan announced that Intel intends to lay off around 15% of its workers, leaving it with about 75,000 employees worldwide by the end of 2025. This news follows layoffs of 15% and 20% of Intels headcount last year and in April, respectively.  Intels foundry business is also getting a shakeup after investing too much, too soonwithout adequate demand, Tan stated.  He continued, In the process, our factory footprint became needlessly fragmented and underutilized. We must correct our course. Going forward, we will follow a systematic approach to growing our factory footprint thats fully aligned with the needs of our customers. We will be judicious and disciplined as we allocate capitalbecause thats what great foundries do. Pulling back on projects, or abandoning them altogether A large part of this course correction involves slowing or completely eliminating already planned projects. According to Tan, initiatives in Germany and Poland will no longer occur, while Costa Ricas assembly and test operations will be integrated into Intels Vietnam and Malaysia sites.  In the United States, Intel is slowing construction of planned factories in Ohio to ensure our spending is aligned with demandwhile maintaining flexibility to accelerate based on new customer wins, Tan added. Intel previously delayed the Ohio factories operations by at least half a decade. 

Category: E-Commerce
 

Sites: [22] [23] [24] [25] [26] [27] [28] [29] [30] [31] [32] [33] [34] [35] [36] [37] [38] [39] [40] [41] next »

Privacy policy . Copyright . Contact form .