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☆ Rite Aid is planning to close about 150 locations. See if your local store is on the list.
▼ + stars: | 2023-10-17 | by ( Alex Bitter | ) www.businessinsider.com time to read: +9 min

Rite Aid filed plans to close 154 stores on Monday as part of its Chapter 11 bankruptcy. Rite Aid is the smallest of the three major drugstore chains, well behind CVS and Walgreens. Rite Aid was expected to close stores as part of its bankruptcy. Rite Aid told Insider that it considers a variety of factors when deciding to close a store, "including business strategy, lease and rent considerations, local business conditions and viability, and store performance." "We will also strive to transfer associates to other Rite Aid locations where possible," the company said.

Persons: —, Glen, Taylor, Daniel Webster, Merrick, William Penn, Redmond, Lacey Organizations: CVS, Walgreens, Service, Pennsylvania . Rite Aid, Wall Street Journal, Rite Aid, Rite, Crenshaw, Hollywood Way, San, Niguel, Yorba, Santa, Thompson Boulevard, Ventura, Atwater, Overland, Meridian, Main, Bel, Bel Air South, Park, Main Street, Lafayette, Garfield, Garden, Ford, Flint, Farmington, Whittemore Street, New Jersey :, Marshall, Bridgeton Pike, Whiting, Pike, Huntington, Jericho Turnpike, Jeff, North Street, Cesar, Chavez, Pennsylvania, Stevenson, Bethel, Union, Allentown, Fourth Street, Fifth, Washington Lane, Street, Central Avenue, Grady, Everett Locations: California, New York, Pennsylvania, Los Angeles, Rock, Centinela, Downey, Beach, Burbank, Hollywood Way Covina, Puente, Alhambra, Oceanside, San Diego, Yorba Linda, Santa Ana, Thompson, Thompson Boulevard Oxnard, Cupertino, Santa Clara, Cruz, Bellevue, Sacramento, Boulevard Ontario, Irvine, Monterey, Alvarado Street Connecticut, Bethel, Greenwood, Delaware, Newark, Hill, Wilmington, Idaho, Boise, Maryland, Elkton, Pulaski, Baltimore, Glen Burnie, Baltimore Annapolis Boulevard Massachusetts, Webster, Main Street Michigan, Fremont, Greenville, Clinton, Macomb, Sturgis, Centerville, Clinton Township, Gratiot, Shelby Township, Dyke, Jackson, Michigan, Manistee, Garden City, North, Detroit, Farmington Hills, St, Johns, Whittemore Street Lansing, Hampshire, Merrimack, New Jersey, New Jersey : West Milford, Mantua, Bridgeton, Irvington, Somerset, Williamstown, Pike New York, Brooklyn, Shore, Merrick, East Northport, Jericho, Jericho Turnpike Medford, Patchogue, West Patchogue, Kenmore, Rochester, Flushing, Levittown, Ohio, Massillon, East New Carlisle, Dayton, Youngstown, Springfield, North Street Bellefontaine, Oregon, Portland, Kensington, Brighton, Bethel Park, Pittsburgh, Greensburg, Bethlehem, Fourth Street Philadelphia, Venango, Washington, Conshohocken, Hanover, Mechanicsburg, Erie, Abington, York, Johnstown, Ardmore, Lancaster, Pittston, Wyoming, Yardley, Chester, Street Titusville, Central Avenue Virginia, Chesapeake, Pleasant, Seattle, Graham, Renton

☆ A tennis center owner in Santa Monica changed his entire business to capitalize on the pickleball surge in America. It was a 'huge risk' but his revenue numbers have doubled and his court has never be
▼ + stars: | 2023-10-14 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +16 min

Former collegiate coach Jon Neeter bought a tennis center in Santa Monica, CA for $40,000 in 2010. He converted his single tennis court into four pickleball courts and business is booming. Plus, he liked the idea of his work being concentrated in one place, rather than scattered at various tennis courts all over LA. A standard pickleball court is 20 feet wide by 44 feet long, much smaller than a tennis court. Plus, he was unsure about how he was going to replicate the Santa Monica Tennis Center anywhere else in LA.

Persons: Jon Neeter, —, Neeter, Jon Arend, Arend, who's, he'd, Sam Querrey, didn't, I'd, they'd, He's, there's, he's Organizations: Service, beachy Santa, Santa, Duke University, Palisades Tennis Center, LA, Santa Monica Tennis Center, Santa Monica Pickleball Center, Neeter Locations: Santa Monica , CA, Wilshire, Los Angeles, LA, Santa Monica, New Jersey, California, West LA, Southern California, pickleball

3 Ohio State rout Purdue 41-7 on Saturday. Purdue (2-4, 1-3) has lost two straight and four of five, this one against a severely short-handed Ohio State offense. McCord opened the scoring with a 14-yard TD pass to Marvin Harrison Jr., Brown added a 2-yard TD run on Ohio State's second series. After Brown fumbled the ball away at the goal line, McCord hooked up with Cade Stover on a 4-yard scoring pass to make it 20-0. ... Ohio State rushed for 4.2 yards per carry one week after averaging 1.9 against Maryland.

Persons: — Kyle McCord, Dallan Hayden, Ade, TreVeyon Henderson, Miyan Henderson, Emeka, Chip Trayanum, Hayden, Xavier Johnson, Devin Brown, McCord, Marvin Harrison Jr, Brown, Cade Stover, Deion Burks, Harrison, Stover, Devin Mockobee, Ryan Walters, Purdue's, Luke Griffin, Ryan Day, Burks Organizations: WEST LAFAYETTE, Ohio State, Purdue, Buckeyes, Ross, Ohio, Boilermakers didn't, Hudson Card, Boilermakers, . Ohio State, Maryland, Penn State, Division, AP Locations: Ind, Ohio, Georgia, Michigan, ., Nebraska

☆ Putin's plan to wear down support for Ukraine in a war of attrition seems to be working, though it's not risk-free
▼ + stars: | 2023-10-06 | by ( Tom Porter | ) www.businessinsider.com time to read: +6 min

Putin is seeking to wear down Western support for Ukraine with a war of attrition. AdvertisementAdvertisementAt the Valdai Club conference Thursday, Russian President Vladimir Putin gloated over the potential impact of Western support for Ukraine ebbing. Meanwhile, Ukraine's economy is struggling under the weight of the conflict and it is heavily dependent on Western aid. Wagner fighters deployed in Rostov-on-Don REUTERS/StringerPutin faces threats of his ownBut there are also risks for Putin in an attrition strategy. AdvertisementAdvertisementA notable series of successes could lead to a new wave of public support for Ukraine, and damage Putin's internal credibility.

Persons: Putin, —, Vladimir Putin gloated, Kevin McCarthy, Joe Biden's, George Beebe, Beebe, Wagner, Don, Stringer Putin, –, Lawrence Freedman, Yevgeny Prigozhin Organizations: Ukraine, Putin, Service, Valdai, Republicans, Don REUTERS, King's College London, New Statesman Locations: Ukraine, Slovakia, Germany, Russia, Kyiv, Europe, Rostov, Russian, —, Moscow, Lviv

☆ Rep. Ayanna Pressley says GOP presidential candidate Vivek Ramaswamy isn't 'occupying any real estate in my mind' after he compared her to 'modern grand wizards' of the KKK
▼ + stars: | 2023-08-28 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

Ayanna Pressley on Sunday hit back at Vivek Ramaswamy after he compared her to a KKK grand wizard. In making his comments last week, Ramaswamy argued that Pressley and Kendi didn't embrace diversity of opinion among members of minority groups. Al Sharpton, Pressley firmly rejected Ramaswamy's remarks, calling his words "dangerous." … We don't need any more brown faces that don't want to be a brown voice," Pressley said during the event. "We don't need any more Black faces that don't want to be a Black voice."

Persons: Ayanna Pressley, Vivek Ramaswamy, Ramaswamy, Ibram, Ramaswamy —, United States —, Pressley, Kendi, Al Sharpton, Ramaswamy's, Sharpton, brutalized, Ali Velshi Organizations: Service, Republican, Democratic Rep, Ayanna Pressley of Massachusetts, Capitol, Boston City Council, Representatives, Ku Klux, MSNBC Locations: Iowa, Wall, Silicon, Ayanna Pressley of, India, United States, Charlottesville, Virginia

☆ Kenneth Chesebro, alleged architect of fake electors’ plot, followed Alex Jones around Capitol grounds on January 6th
▼ + stars: | 2023-08-18 | by ( Andrew Kaczynski Em Steck Yahya Abou-Ghazala | Andrew Kaczynski | Em Steck | ) edition.cnn.com time to read: +8 min

But a CNN investigation has placed him outside of the Capitol at the same time as his alleged plot to keep Trump in office unraveled inside it. CNN was able to place Chesebro at the protest through publicly available databases with photos and videos from that day. Shroyer, who had previously signed a deferred prosecution agreement in another case saying he would not engage in disorderly conduct on the Capitol grounds, was charged with four misdemeanors. Later, the group, including Chesebro, make their way halfway up the steps of the Capitol Building before heading down. Chesebro follows members of the group as they depart the Capitol grounds close to 3 p.m.Later, Chesebro can be seen walking near the Peace Monument at the front of the Capitol.

Persons: Alex Jones, riling, Jones, Donald Trump’s, Kenneth Chesebro, Chesebro, ”, Jared Holt, Lawrence Tribe, Jim Troupis, Biden, John Eastman, —, “, Infowars –, Owen Shroyer, Shroyer, Ryan Goodman, ” Goodman Organizations: CNN, Capitol, Trump, Institute for Strategic, Harvard, Republican, New York Times, New York University, Department of Defense, Committee, Trump International Hotel Locations: Fulton County , Georgia, Georgia, cryptocurrency, Wisconsin, Washington , DC, DC

The law also prohibits funding recipients from expanding semiconductor manufacturing in China or other countries deemed a national security risk by the United States government. A year after President Joe Biden signed the CHIPS and Science Act into law, the U.S. semiconductor industry is still waiting on the windfall. The potential for federal funding has spurred some potential huge investments in the semiconductor sector. "The back-end semiconductor manufacturing sector that Integra participates in, operates on very thin margins that just don't make it possible without the CHIPS Act support to do this," Integra CEO Brett Robinson said. Intel, Taiwan Semiconductor Manufacturing Co. and silicon carbide producer Wolfspeed have all hired workers and started construction despite not receiving any federal CHIPS Act funding.

Persons: Raimondo, Gina Raimondo, Joe Biden, Brett Robinson, Robinson, Tom Sonderman, I've, Brian Harrison, It's Organizations: Department of Commerce, United, UAW, Integra Technologies, Integra, SkyWater Technology, of Commerce, Intel, Taiwan Semiconductor Manufacturing Co, Commerce Department Locations: America, China, United States, U.S, Taylor , Michigan, Wichita , Kansas, West Lafayette , Indiana, Arizona

☆ Adidas plans to keep 'carefully' moving more Yeezy stock after making $437 million from its first post-Kanye West sale
▼ + stars: | 2023-08-04 | by ( Polly Thompson | Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Adidas said it made $437 million from the first sales of Yeezy shoes since cutting ties with Kanye West. A second batch of Yeezy items dropped Wednesday as Adidas keeps trying to shift leftover stock. The company kicked off another round of Yeezy sales Wednesday, including the popular sneakers Yeezy Boost 250 V2, 500, 700 and the Yeezy Slide and Foam Rnr lines. Demand for the remaining Yeezy stock has helped to bring the company's expected annual loss down from $764 million forecast in March to $491 million. In line with Gulden's promise that the company will "continue to carefully sell off more of the existing Yeezy inventory", a second batch of Yeezy sneakers went on sale this week.

Persons: Bjørn Gulden, Robert Kraft's, Ye, Gulden Organizations: Adidas, Kanye, Service, Associated Press, Fox News, Defamation League, Keeta Floyd Institute for Social, Robert Kraft's Foundation, Combat Locations: Wall, Silicon, German

☆ Turkey eyes recalibration with the West as Russia’s isolation grows
▼ + stars: | 2023-07-12 | by ( Zeena Saifi | ) edition.cnn.com time to read: +6 min

His delicate balancing act has given Turkey a unique position of being the only NATO nation whose ear Russia has. “By backing Sweden’s NATO bid…Ankara is signaling a recalibration in ties with the West, which have been strained for a while now,” said Memet Celik, editorial coordinator for the pro-government Daily Sabah newspaper. “In a larger sense, Russia’s unjustified war against Ukraine reminded the West of the importance of geography, hard military power, and alliance commitments – and thus the value of Turkey,” he said. Turkey, however, is likely to continue to be relevant to both Russia and the West. “Due to proximity, power, and relations with both Kyiv and Moscow, Turkey will be a key player in conflict resolution and whatever peace deal ultimately emerges,” said Outzen.

Persons: CNN —, Recep Tayyip Erdogan, Erdogan, ”, Memet Celik, Joe Biden, Washington, Biden, Tuesday’s, ” Erdogan, Rich Outzen, –, “, ” Viktor Bondarev, Volodymyr Zelensky, Russia’s ‘, Yevgeny Prigozhin, Wagner, Putin’s, Outzen, Russia’s “, Ukraine ”, Sinan Ulgen, Erdogan’s, Russia aren’t Organizations: CNN, Nordic, European Union, NATO, …, Daily, West, White House, Atlantic Council, Ukraine, “, Ankara, Russia’s Federation, Committee, Defense, Security, Putin, Kyiv Locations: NATO, Russia, Moscow, Ukraine, Turkey, Turkish, … Ankara, Daily Sabah, Vilnius, Lithuania, Ankara, “, “ Ankara, Istanbul, “ Turkey, Celik

At least seven analysts trimmed their fiscal 2024 expectations for Nike's earnings per share since the beginning of June and 10 slashed their price targets on the company's stock, ahead of its fourth-quarter results. "Coming into this current calendar year ... wholesale orders are weak at the moment," said Morningstar analyst David Swartz, adding that declines in these orders will have a negative impact on Nike. Reuters GraphicsTHE CONTEXTIn March, Nike warned of earnings pressure amid its attempts to get rid of excess inventory through heavy discounts. In May, retailer Foot Locker, which has touted its 'renewed' relationship with Nike, also flagged declining sales, particularly for fashion-oriented sneakers. Barclays analysts noted Nike could see "moderation, and potentially negative, wholesale channel growth" in the fourth quarter.

Persons: David Swartz, Jane Hali, Jessica Ramirez, Kanye, Ananya Mariam Rajesh, Krishna Chandra Organizations: Nike, Wall, Associates, Adidas, Jordan Retro, LeBron, Nike Brand, Barclays, Reuters, Refinitiv, Thomson Locations: United States, China, Bengaluru

☆ Asia inflation has peaked, region's growth to overtake U.S. and Europe, Morgan Stanley says
▼ + stars: | 2023-06-15 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +3 min

Citing reasons for his optimism, he said Asia is expected to deliver healthier growth rates while the West lags behind. Asia inflation 'not as intense'"We're definitely expecting growth in these two economies to be constrained by the fact that they have had this significant inflation problem," Ahya said in reference to the U.S. and Europe. The U.S. inflation rate has been holding well above the Fed's 2% annual target. Chetan Ahya Chief Asia Economist at Morgan StanleyChina's consumption 'on track'Another driver of Asia's growth is China's projected recovery in the second half of the year. "We're expecting China's recovery to broaden out in second half of this year," Ahya said.

Persons: Kazuhiro Nogi, Morgan Stanley, Chetan Ahya, Ahya, We're Organizations: Mount Fuji, Afp, Getty, Federal Reserve, Asia, Nurphoto, People's Bank of China Locations: U.S, Europe, Asia, India, Indonesia, Japan, Central, China, Jakarta

☆ Left-wing philosopher Cornel West launches long-shot 2024 presidential bid
▼ + stars: | 2023-06-05 | by ( Tim Reid | ) www.reuters.com time to read: +2 min

[1/2] Political activist Cornel West announces his candidacy for the U.S. presidency via social media, as the candidate for the People's Party, June 5, 2023, in this still image obtained from a social media video. CornelWest via REUTERSJune 5 (Reuters) - Cornel West, a progressive political activist and philosopher, announced on Monday that he is launching a third-party 2024 bid for the U.S. presidency. "I want to reintroduce America to the best of itself – the dignity, courage and creativity of precious everyday people," West declared on his People's Party website. Bush to Democrat Bill Clinton, as Perot siphoned off a chunk of Republican voters in the nearly 20 million votes he received. In 2000, many analysts believe Democratic presidential candidate Al Gore would have beaten Republican George W. Bush if Green Party candidate Ralph Nader had not run.

Persons: Cornel West, West, Joe Biden, Ross Perot's, George H.W, Bush, Bill Clinton, Perot, Al Gore, Republican George W, Ralph Nader, Nader, Tim Reid, Alistair Bell Organizations: U.S, People's Party, REUTERS, Twitter, White, Democratic, Party, Republican, Green Party, Union Theological Seminary, Harvard, Princeton, Thomson Locations: America, Florida, New York

One is about the possibility that we’re going to have this super intelligent AI that’s capable of great destruction. casey newtonI think that’s right. But it’s just like — I don’t think — I don’t think about to do these things in the moment like Dan. I don’t think that there’s an ethical issue with doing what he wants to do. And yeah, I just think it’s going into an area that’s going to be uncomfortable for the friend.

Persons: kevin roose, casey newton, we’re, ” casey newton I’ve, kevin roose It’s, Kevin Roose, ” casey newton, Casey Newton, clowned, New York Times ’, Kate Conger, Casey, Ajeya Cotra, kevin roose Totally, Sam Altman, Demis Hassabis, Dario Amodei, Elon Musk, Steve Wozniak, They’re, Kevin, Dan Hendricks who’s, “, “ I’m, don’t, you’re, I’m, — casey newton, it’s, ChatGPT, casey newton I’m, I’ve, Martinez, Varghese, kevin roose Tyler, —, Steven A, Schwartz, ”, they’re, it’ll, there’s, Mr, Bean, We’ve, James Vincent, It’s, Jensen Huang, Harry Potter, Harry Potter of, kevin roose —, casey newton Parallelelizable, Parallelizable, — casey newton Let’s, that’s, who’s, NVIDIA —, casey newton Well, doesn’t, katie cogner, Kate Conger who’s, katie cogner Hi, katie cogner I’m, Dan, what’s, Getty, casey newton Kate, let’s, John, Here’s John, john, kevin roose That’s, Kate, he’s, He’s, he’ll, casey newton That’s, There’s, we’ve, “ I’ve, ” Kate, cogner, Prince Harry, katie cogner Doesn’t, Harry, casey newton We’re, We’re, kevin roose Kate, they’ve, Joni Mitchell, Chris Vecchio, Chris, kevin roose I’m, You’d, casey newton “, you’ll, casey newton Oh, ” kevin roose Organizations: The New York Times, NVIDIA, New York Times, Safety, Google, AI, ChatGPT, Avianca Airlines, Delta Airlines, China Southern Airlines, KLM Royal Dutch Airlines, Royal Dutch Airlines, “, Bar Association, Texas, M University Commerce, Apple, Microsoft, Netflix, Harry Potter of Kentucky Christian, Facebook, eBay, “ New York Times, Boston, Garden, MetLife, TED, AIs Locations: British, Avianca, Durden, ChatGPT, Taiwan, Kentucky, Hogwarts, Harry Potter of Kentucky, California, Madison, —

☆ Bankman-Fried hints at blame-the-lawyers defense in criminal case
▼ + stars: | 2023-05-31 | by ( Alison Frankel | Thomson Reuters | Alison Frankel Has Covered High-Stakes Commercial Litigation As A Columnist For Reuters Since A Dartmouth College Graduate | ) www.reuters.com time to read: +7 min

The plaintiffs' lawyer who filed that case, Kerry Miller of Fishman Haygood, told me on Wednesday that he plans to monitor the Bankman-Fried criminal case for any Fenwick & West documents that might boost the class allegations. Companies are typically reluctant to waive privilege for fear that their lawyers’ documents might be used in other cases. That assertion seems to hint that Bankman-Fried will claim that he can personally waive privilege over some Fenwick & West communications. The strongest defense case, Sandick said, would probably feature testimony from a Fenwick & West witness to bolster testimony from Bankman-Fried about his reliance on advice from FTX lawyers. But contradictory testimony from a law firm witness could undermine Bankman-Fried’s advice-of-counsel defense.

Persons: Sam Bankman, Gresser, Fenwick, Fried, West, FTX, “, ”, Bankman, District Judge Lewis Kaplan, Kaplan, Kerry Miller, Fishman Haygood, Cohen, Sullivan, Cromwell, Harry Sandick, Patterson Belknap Webb, Tyler, ” Sandick, Sandick, ‘, ’ ”, Alison Frankel Organizations: Cohen, Fenwick & West, Alameda Research, Silvergate Bank, West, U.S, Prosecutors, Alameda, District, District Judge Lewis Kaplan of, Fenwick &, Manhattan U.S, Companies, Defense, Thomson, Reuters Locations: Fenwick, FTX, Alameda, Manhattan, California, District Judge Lewis Kaplan of Manhattan

☆ Stanford Golf Star Rose Zhang Is Ready for Her Professional Debut
▼ + stars: | 2023-05-30 | by ( Alan Blinder | ) www.nytimes.com time to read: +1 min

Not long before Rose Zhang clutched a microphone on Tuesday, Michelle Wie West laughingly made an observation: Zhang might have logged more weeks as the world’s No. 1 amateur women’s golfer than Wie West spent as an amateur, period. It was an exaggeration — even though Wie West became a professional at 15 years old and Zhang spent more than 140 weeks in the top spot — but it also wryly underscored how Zhang’s rise in women’s golf is playing out differently from how other ascending stars built their careers. In Zhang, who will make her professional debut this week at the Mizuho Americas Open in Jersey City, N.J., women’s golf is getting the rare prodigy who has played for an American college. “So I wanted to see how I fared in college golf, and it turned out well.”

Persons: Rose Zhang clutched, Michelle Wie West laughingly, Zhang, Wie, you’re, ” Zhang, “ Organizations: Mizuho Locations: Jersey City, N.J

☆ FBI search of home of a journalist and a Tampa Bay councilwoman related to alleged leaks at Fox News: report
▼ + stars: | 2023-05-26 | by ( Sonam Sheth | ) www.businessinsider.com time to read: +3 min

The FBI is investigating alleged leaks at Fox News linked to unaired footage of Tucker Carlson's interview with rapper Kanye West. The feds executed a search warrant at the home of a Tampa Bay city councilwoman and her husband, a media consultant and ex-journalist, earlier this month. Potential crimes being investigated include unauthorized computer access and conspiracy, The Tampa Bay Times reported. That's according to The Tampa Bay Times, which reported that as part of the investigation, the FBI executed a search warrant on the home of city councilwoman Lynn Hurtak and her husband, Tim Burke, earlier this month. A Tampa Bay prosecutor sent a letter to Fox News informing the network of the ongoing criminal investigation into the alleged hacks, The Times reported.

Persons: Tucker Carlson's, Kanye, —, Lynn Hurtak, Tim Burke, Burke, Carlson, Jay Trezevant, Fox, Hurtak's, Hurtak Organizations: FBI, Fox News, Kanye West, Tampa Bay Times, Service, Times, West, Voting Systems, Media, America, The Times, Dominion, Tampa Bay, Current Locations: Tampa Bay, councilwoman, Tampa

☆ Debt conundrum gives Italy weak hand in EU talks
▼ + stars: | 2023-05-18 | by ( Lisa Jucca | ) www.reuters.com time to read: +6 min

After inflation hit 40-year highs in the West last year, global rate-setters, including the European Central Bank, launched a dramatic series of interest rate hikes. Unless there is a sudden series of interest rate cuts, the cost of servicing Italy’s debt could stay well above 4% of GDP for years. To fight that, Meloni’s government will have to shrink the public deficit and bring Italy back to the healthy pre-pandemic habit of keeping a primary budgetary surplus excluding debt interest payments. As long as Italy’s debt is not spiralling out of control, markets won’t worry too much. Yet even if Meloni chooses a milder approach, Italy’s unresolved debt challenge risks giving her a weak negotiating hand in Brussels.

☆ Adidas’s New CEO Shows Good Form
▼ + stars: | 2023-05-05 | by ( Jinjoo Lee | ) www.wsj.com time to read: 1 min

Adidas Chief Executive Bjørn Gulden joined in January after the company suffered some major injuries. Photo: Marco Rosi/Getty ImagesAdidas ’s new chief executive officer, Bjørn Gulden , can’t quite hit the ground running yet, but his first move—setting a low bar—is turning out to be a pretty solid strategy for the company’s stock. These are still early days for the new CEO, who joined in January after the company suffered some major injuries: The fallout with Chinese consumers in 2021 from a dust-up over Xinjiang forced-labor allegations, and then a breakup with Kanye West last year. Mr. Gulden called 2023 a year of transition before the company can hit its stride again. One key goal is to reduce inventories—especially the piles of Yeezy products that Adidas has left over from its terminated partnership with Mr. West—and to lower discounts.

The remarks brought a strong retort from Washington, where a White House spokesman accused Lula of "parroting Russian and Chinese propaganda." Lula is a pragmatic politician," one of the diplomats told Reuters, requesting anonymity to discuss the sensitive matter. Lula has suggested Ukraine needs to make concessions to end the war and Russia could return recently invaded territory but keep Crimea. The European Union has also rejected Lula's suggestion that both Ukraine and Russia are to blame for the war. Earlier this year, Lula turned down a reported German request to supply artillery ammunition to Ukraine.

London CNN —Europe’s air traffic control authority says it has been battling an ongoing attack, claimed by pro-Russian hackers, since Wednesday. There hasn’t been any impact on flights, though access to its website has been affected, according to the European Organization for the Safety of Air Navigation, or Eurocontrol. “There has been no impact on European aviation.”The International Air Transport Association also said air traffic was operating normally. “There has been no inconvenience to commercial air traffic, no disruption and no delays because of the cyberattack,” the industry group said. European countries have provided military assistance to Ukraine and imposed a raft of sanctions on Russia aimed at crippling its ability to wage war.

☆ A small business owner with all of her money in SVB says the company was 'jerked around' by the 'failures of the American banking system'
▼ + stars: | 2023-03-18 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +5 min

Silicon Valley Bank's collapse had startup founders and venture capitalists in a panic last weekend. Vanessa Pham said the bank's collapse threatened small businesses, in addition to rich VC firms. The news threw Pham into a spiral: All of Omsom's money was in SVB, a bank widely used by startups and venture capitalists. On Friday morning, Pham tried to wire the company's money out of SVB, but it was unsuccessful. In a follow-up Instagram post, the Pham sisters wrote that the weekend caused them to reflect on how "the failures of the American banking system jerked all of us around, both small business + consumers alike."

☆ How this former Adidas executive is tackling the biggest problem in footwear with biodegradable sneakers
▼ + stars: | 2023-03-10 | by ( Matthew Kish | ) www.businessinsider.com time to read: +5 min

"It's a first of its kind," Liedtke told Insider. The Unless shoe, which retails for $139, was made in partnership with Natural Fiber Welding, which makes various materials from natural products, including plants and minerals. Jonathan Leibson/Getty Images for ADIDAS"This is a game changer," industry analyst and ARCH-USA founder Chris Burns previously told Insider. "What's unique about what Eric has done in the footwear industry is paid attention to every single component of the shoe," Natural Fiber Welding President Steve Zika previously told Insider. Last April, Natural Fiber Welding announced an $85 million Series B investment round.

☆ Biden's clean energy factory jobs may elude U.S. union workers
▼ + stars: | 2023-03-06 | by ( Nichola Groom | ) www.reuters.com time to read: +9 min

Right to work laws allow employees to work in union-represented workplaces and be covered by collective bargaining agreements without joining a union or paying dues. American products, he vowed, would be made with union labor. Union labor. Many of the jobs created will be union jobs, the official added. "It's not a favorable environment, but we can still organize," Samantha Smith, senior adviser for clean energy jobs at the AFL-CIO, said in an interview.

☆ Inside the private meeting at Jack Ma's apartment where he plotted to take on Silicon Valley with a trusted 'ragtag bunch' of early employees
▼ + stars: | 2023-01-24 | by ( Brian A. Wong | ) www.businessinsider.com time to read: +8 min

In one apartment, Jack, Lucy Peng, and a few other leaders worked alongside the firm's engineers. Everyone's enthusiasm flowed from their strong identification with the company's mission and Jack's vision, and if it was part of our mission, all believed, it was certainly achievable. In fact, in time, I would grow to better understand and more deeply embrace Alibaba's mission, vision, and values and the way they motivated our people. That's what Savio Kwan, Alibaba's first COO, did, codifying Jack's ideas into our company mission, vision, and values. Their efforts would form the basis of Alibaba's core mission, vision, and values statement— the guiding force or beliefs for Alibaba's development then and now.

☆ Oil companies sue Los Angeles over ban on oil and gas drilling
▼ + stars: | 2023-01-11 | by ( Emma Newburger | ) www.cnbc.com time to read: +1 min

An oil company with a drilling operation in the Wilmington neighborhood of Los Angeles has filed a lawsuit against the city over its law to ban new wells and phase out all drilling within city limits. Warren Resources, which operates the 10-acre, oil-extraction site, filed a lawsuit on Tuesday in LA Superior Court seeking to stop the ordinance from taking effect. The company argued the city failed to conduct an adequate environmental review of the potential impacts of halting extraction. There are 26 oil and gas fields and more than 5,000 active and idle wells in LA, in areas like Wilmington, Harbor Gateway, downtown, West LA, South LA and the northwest San Fernando Valley. Ian Thompson, a spokesperson for the LA City Attorney's office, declined to comment on the lawsuit.

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