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☆ Gucci Launches Sustainability Drive as European Fashion Regulation Looms
▼ + stars: | 2023-02-22 | by ( Joshua Kirby | ) www.wsj.com time to read: +6 min

It will boost transformation in the Italian fashion industry’s production models, said Gucci in a joint release with French parent Kering. “Luxury brands generally have strong and transparent supply chains and an opportunity to better communicate sourcing quality,” they said. “Luxury brands have the burden to stand for our better selves, as they embody people’s aspirations and ideals,” Mr. Solca said. In 2018, U.K. luxury fashion house Burberry said it would stop burning unsold inventory amid pressure from environmental groups, but some peers continue the practice. The hub’s activities will later be extended to Kering’s other brands, before opening to the wider fashion sector.

☆ Burger King Parent Names New CEO, Aiming to Turn Around Chain
▼ + stars: | 2023-02-14 | by ( Heather Haddon | ) www.wsj.com time to read: 1 min

Burger King used to be the second-largest U.S. hamburger chain. Burger King owner Restaurant Brands International Inc. named a new chief executive Tuesday, saying the company needs to do more to help its restaurant owners improve their profits. The Toronto-based fast-food chain operator said Joshua Kobza , the company’s chief operating officer, will take over as CEO March 1. Mr. Kobza previously served as Restaurant Brands’ chief financial officer and chief technology officer in his 11 years with the company.

☆ Stocks making the biggest moves premarket: Palantir, Coca-Cola, Marriott and more
▼ + stars: | 2023-02-14 | by ( Jesse Pound | ) www.cnbc.com time to read: +4 min

Here are the stocks making notable moves before the opening bell on Tuesday, Feb. 14. Palantir — Shares of the software company surged 18% in extended trading after Palantir reported it made a profit in the fourth quarter, the first GAAP profit in the company's history. Marriott — The hotel stock rose nearly 2% in premarket trading after Marriott beat estimates on the top and bottom lines for the fourth quarter. Cadence Design Systems — The electronics design stock rose 5% premarket after Cadence beat estimates on the top and bottom lines for the fourth quarter, according to StreetAccount. Amkor Technology — The semiconductor stock fell about 3% premarket after Amkor's fourth quarter earnings per share came in at 67 cents, three cents below estimates, according to StreetAccount.

☆ Restaurant Brands International posts strong fourth quarter, names new CEO
▼ + stars: | 2023-02-14 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +4 min

In this photo illustration, a Burger King Whopper hamburger is displayed on April 05, 2022 in San Anselmo, California. Restaurant Brands International on Tuesday posted a strong fourth quarter and named Chief Operating Officer Joshua Kobza as its new chief executive, effective March 1, replacing José Cil. Restaurant Brands reported overall same-store sales growth of 8% during the fourth quarter and system-wide sales growth of nearly 12%. Its flagship burger chain, Burger King, saw same-store sales growth of 8.4% during the period. At the end of the fourth quarter, the company said it had funded $30 million of that turnaround plan.

☆ I asked an AI chatbot to give me advice on how to manage finances with my spouse
▼ + stars: | 2023-02-14 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

Managing finances with a significant other isn't the sexiest thing to talk about, but it's an important topic to breach. If you're unfamiliar with Replika, it's an AI chatbot similar to ChatGPT, with one big exception. After a brief intro, I explained my problem: I needed help managing finances with my wife. Maintain separate accounts: It's also a good idea for each spouse to have their own personal account for individual expenses and financial independence. For example, if one spouse makes significantly more than the other, they may contribute a larger portion to joint expenses.

☆ Joshua Kushner's $3 billion Thrive Capital VC fund has lost 31% in the past year, according to a major endowment backer
▼ + stars: | 2023-02-13 | by ( Ben Bergman | ) www.businessinsider.com time to read: +3 min

Thrive announced at the beginning of last year it closed a massive $3 billion fund. By the end of the year, one of the fund's major investors marked down its stake by 31%. Thrive Capital, the New York-based venture firm founded in 2009 by Joshua Kushner, announced at the beginning of last year it closed a massive $3 billion fund, with $500 million earmarked for early-stage startups and another $2.5 billion devoted later-stage companies. Thrive is also in talks to make another $1 billion investment in Stripe, Bloomberg recently reported. And Thrive is also in talks to invest in OpenAI through a tender offer, the Wall Street Journal reported.

☆ Private venture-capital returns from one of the largest endowments reveal Union Square Ventures has been wildly successful. Sequoia and Y Combinator have lost money so far.
▼ + stars: | 2023-01-23 | by ( Ben Bergman | ) www.businessinsider.com time to read: +6 min

USV's 2004 fund returned more than $305 million in cash from a $22 million UTIMCO investment, with an IRR of 66%. Thrive Capital, the venture firm Joshua Kushner founded in 2009, has delivered -34% IRR on two funds from late 2021. UTIMCO's $6.7 million invested has been marked down to $4.6 million. Two funds UTIMCO invested in the VC firm Initialized at the beginning of 2022 have a -5.5% IRR. Upfront Ventures, the most prominent early-stage firm in Los Angeles, has returned only $31 million though UTIMCO invested $110 million since 2015.

Prosecutors will need a mountain of evidence to cast Alec Baldwin as a criminally negligent gunman, skeptical defense criminal lawyers said Friday, as Hollywood appeared to rally around the oft-polarizing actor. But prosecutors insist they have FBI lab reports that show Baldwin did fire the fatal round. "Is there some intentional act that placed that live round there that we know nothing about? She urged prosecutors to stop "blaming the victim" and rhetorically asked "how about investigating who put the live round into the gun?" "Nobody is asking who put the live round into the prop gun," tweeted Fisher, best known for her role in "Titanic."

☆ Health insurance upstarts that grew fast while bleeding money now say they want to turn a profit. They're raising premiums, exiting markets, and leveraging their size to get there.
▼ + stars: | 2023-01-13 | by ( ) www.businessinsider.com time to read: +6 min

Newly public health insurers Bright, Clover, and Oscar historically have prioritized fast growth. Now that it's become harder to raise capital from investors, the insurers Bright Health, Clover Health, and Oscar Health have shifted their strategies toward making money. Bright Health, in particular, was forced to take extreme measures that will see it cover members in just one state this year, after serving people in 17 states in 2022. Here's what Bright, Clover, and Oscar said they're doing to reach a profit, from raising the premiums of their health plans to exiting the markets they once bet big on. Clover slashed its participation in a federal programClover Health CEO Andrew Toy Clover HealthClover also slashed its footprint in a major program to bring down costs.

☆ Liquor Brands Bet Thrifty Drinkers Will Keep Making At-Home Cocktails
▼ + stars: | 2023-01-07 | by ( Joshua Kirby | ) www.wsj.com time to read: 1 min

Many Americans took to mixing cocktails at home during the pandemic, boosting liquor sales. Now, with inflation squeezing disposable incomes, big distillers are betting on another round of home drinking as consumers economize. Historically, around 80% of all U.S. alcoholic drinks sales were for home drinking, according to IWSR, a drinks market-research firm. That level rose to 90% during the pandemic, and sales at bars aren’t likely to return to pre-Covid levels for another four to five years, IWSR says.

☆ Brigham Young University offensive lineman dies in construction accident
▼ + stars: | 2023-01-01 | by ( The Associated Press | ) www.nbcnews.com time to read: +1 min

HONOLULU — Brigham Young University offensive lineman Sione Veikoso was killed in a construction accident in his hometown in Hawaii, family members said. Veikoso, 22, died Friday after a retaining wall he was helping repair during holiday break from school collapsed, his family confirmed. He was reliable and caring,” Veikoso’s cousin Joshua Kava said in a written statement to the Honolulu Star-Advertiser. Rescuers called them off because of the wall’s instability and manually removed rocks to free two of the men in about 15 minutes. After high school, Veikoso spent two years as a missionary for the Church of Jesus Christ of Latter-Day Saints in Manaus, Brazil, before enrolling in college.

☆ Companies Must Reduce Impact on Biodiversity Under New U.N. Rules
▼ + stars: | 2022-12-19 | by ( Joshua Kirby | ) www.wsj.com time to read: +5 min

Companies will have to show they are reducing their impact on the world’s natural life, though not to a specific level, under a global plan agreed to Monday. Under the agreement—officially called the Kunming-Montreal Global Biodiversity Framework, or GBF—governments between now and 2030 will introduce laws and policy measures requiring large companies and banks to disclose and reduce the damage done to ecosystems from their operations, supply chains and portfolios. The rules aim to take into account the connection between climate and nature, including cultivated and natural biodiversity, deforestation and water use, the ISSB said. Such measures are “critical to addressing the dangerous loss of biodiversity and restoring natural ecosystems,” COP15 organizers said. Even with the framework agreed upon by nations, assessing companies’ biodiversity impact could be a headache.

Companies’ impact on biodiversity and ecosystems would become an integral part of sustainability reporting under new plans that aim to create a more complete assessment of how businesses harm the environment. Corporations should explain to investors how they are managing resources sustainably, according to reporting rules proposed Wednesday by the International Sustainability Standards Board, an arm of the International Financial Reporting Standards Foundation, an accounting-standards body. The trial could act as a beacon for such reporting and make other companies more comfortable with the idea of reporting their biodiversity impact voluntarily, Ms. Saint-Laurent said. Overcoming reporting challengesGathering data on biodiversity still poses a challenge for corporations and can often involve expensive teams of dozens of experts. “We’re not quite at the point where we’re able to have one single number,” she said, adding, “it’s multiple numbers that show performance.” Unlike carbon-emissions reporting, biodiversity assessment can be complicated and expensive.

☆ Companies Face Prospect of New Biodiversity Rules From U.N.’s COP15 Summit
▼ + stars: | 2022-12-08 | by ( Dieter Holger | Joshua Kirby | ) www.wsj.com time to read: +3 min

Participants at a United Nations biodiversity summit under way in Montreal hope to hash out an agreement to help protect nature by pushing countries and businesses to minimize their environmental impact. Unlike the 2015 deal, the proposed biodiversity framework targets companies as well as nations. Biodiversity reporting would add to the challenge, particularly as the metrics are more varied and complex than carbon-emissions data. Biodiversity reporting has been done in different forms for many years. For instance, mining companies often enlist experts to produce an environmental impact report for governments before they start a project.

Police arrested two people in connection with the slaying of renowned Migos rapper Takeoff, who was "an innocent bystander" when he was fatally shot last month, Houston authorities said Friday. News of the arrests came one month after Kirshnik Khari Ball, known professionally as Takeoff, was killed on Nov. 1 outside a downtown Houston bowling alley. Officials said Takeoff and Quavo, 31, another member of Migos, were at a private party at 810 Billiards & Bowling. Police would not discuss if Clark and Joshua knew Takeoff, or if they were invited to the private party. The group had four Top 10 hits on the Billboard Hot 100, although Takeoff was not on its multiweek No.

☆ Germany crash out of World Cup despite 4-2 win over Costa Rica
▼ + stars: | 2022-12-01 | by ( Karolos Grohmann | ) www.reuters.com time to read: +4 min

[1/7] Soccer Football - FIFA World Cup Qatar 2022 - Group E - Costa Rica v Germany - Al Bayt Stadium, Al Khor, Qatar - December 1, 2022 Germany's Thomas Muller and Antonio Rudiger look dejected after the match as Germany are eliminated from the World Cup REUTERS/Wolfgang RattayAL KHOR, Qatar, Dec 1 (Reuters) - Four-time champions Germany sensationally crashed out of the World Cup despite a 4-2 victory over Costa Rica in their last Group E match on Thursday, tumbling out at the first hurdle for the second consecutive time. Germany finished third in the standings, behind Spain on goal difference, with Japan top following their 2-1 win over the Spaniards. It was the first time in their illustrious World Cup history that Germany had failed to win any of their first two group matches and despite bagging a win on their last attempt, they will be departing Qatar with dropped heads. Germany were eager to make amends for their bad tournament start with teenager Musiala repeatedly taking on the entire Costa Rican defence. They were almost punished when Keysher Fuller benefitted from a double defensive blunder but his shot was tipped over the bar by Neuer, whose 19th appearance at the tournament was a World Cup record for goalkeepers.

A defeat against Spain after Germany's shock 2-1 opening loss to Japan would have left Hansi Flick's men facing a huge challenge to get into the knockout phase. Spain coach Luis Enrique said he was left ruing his side's failure to hold on to their lead. Spain top the standings with four points and now need only a draw in their final Group E game against Japan to progress. They need to win against Costa Rica on Thursday and their hopes then depend on Japan losing. If Japan draw it would come down to goal difference or goals scored by Germany and Japan.

☆ Germany salvages draw against Spain but World Cup hopes still hang in the balance
▼ + stars: | 2022-11-27 | by ( Matias Grez | ) edition.cnn.com time to read: +3 min

CNN —Niclas Füllkrug’s late strike was enough to salvage a point for Germany against Spain as qualification from Group E goes down to the wire. Germany needs to beat Costa Rica and hope Spain defeats Japan or, if Japan earns a draw, ensure it has a superior goal difference. Álvaro Morata celebrates after scoring the opening goal against Germany. But just when it looked as though Germany was growing into the match, Spain found the breakthrough thanks to substitute Morata, who ran onto Jordi Alba’s low cross and poked the ball past Neuer. Germany will know only a victory against Costa Rica will do – but even that might not be enough.

☆ Spain make one change in defence, Germany replace Havertz
▼ + stars: | 2022-11-27 | by ( Steve Keating | Hritika Sharma | ) www.reuters.com time to read: +1 min

AL KHOR, Qatar, Nov 27 (Reuters) - Spain coach Luis Enrique made one change to his starting lineup against Germany in their World Cup Group E on Sunday following their opening 7-0 demolition of Costa Rica, with Dan Carvajal replacing Cesar Azpilicueta in defence. The Spaniards, who will all but qualify with a win over the Germans, were otherwise unchanged in attack with Dani Olmo, Feran Torres and Marco Asensio. Germany, who suffered a shock opening loss to Japan and are in desperate need of points, brought on fullback Thilo Kehrer in the place of Nico Schlotterbeck. Coach Hansi Flick also dropped forward Kai Havertz, boosting his midfield with Leon Goretzka. Reporting by Karolos Grohmann; Editing by Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.

☆ World Cup 2022 - Germany 1-2 Japan: Late Ritsu Doan and Takuma Asano goals earn shock victory
▼ + stars: | 2022-11-24 | by ( Charlotte Marsh | ) www.cnbc.com time to read: +11 min

Japan celebrates during a FIFA World Cup Qatar 2022 Group E match against Germany at Khalifa International Stadium on Nov. 23, 2022 in Doha, Qatar. Marc Atkins | Getty Images Sport | Getty ImagesEach Japan goal was greeted with a team bundle at the corner flag, and there were joyous celebrations at full-time. For Germany, their poor World Cup form continues, having finished bottom of their group at the 2018 tournament. After having two earlier efforts blocked, Gundogan stepped up and expertly dispatched his spot-kick to see the four-time World Cup winners in front. We made mistakes that we should never commit especially in a World Cup and those are the things that we need to improve on."

☆ "Extreme blackmail" forced federations to drop armbands-German FA
▼ + stars: | 2022-11-22 | by ( Karolos Grohmann | ) www.reuters.com time to read: +3 min

DOHA, Nov 22 (Reuters) - Soccer federations who had planned to wear "OneLove" armbands to protest against discrimination during the World Cup in Qatar were faced with "extreme blackmail" that led to them dropping the gesture, the German Football Association (DFB) said on Tuesday. "We were in an extreme situation, in an extreme blackmail and we thought we had to take that decision without wanting to do so." "I want to be able to be happy playing in a World Cup even if it is held here. We want to play a good tournament and win tomorrow and it is not our fault where the World Cup is held." "We have a lot of respect for what the Iran team did yesterday.

☆ Wall Street titan Apollo has a new class of dealmakers. Here's how 3 rose to partner while in their 30s.
▼ + stars: | 2022-11-17 | by ( Casey Sullivan | Hayley Cuccinello | ) www.businessinsider.com time to read: +23 min

He persevered through the brutal all-nighters, the perplexing spreadsheets, and the temperamental bosses who walked the halls of the midtown Manhattan investment firm. At Apollo, executives tend to grow up quickly. Some of their former colleagues have tried to make more money elsewhere, such as the hedge funds run by billionaire personalities that Apollo's executives quietly root against. Associates sometimes dealt with burnout from heavy workloads and demanding bosses by escaping for a walk through Central Park to let off steam, according to the former firm associates. We're Rayman Apollo!'"

☆ Teenager Moukoko, veteran Goetze in Germany's World Cup squad
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +3 min

FRANKFURT, Nov 10 (Reuters) - Germany handed a surprise call-up to Borussia Dortmund teenager Youssoufa Moukoko in their World Cup squad on Thursday as 2014 World Cup winner Mario Goetze marked a sensational return to the national team set up after five years. "Mario Goetze is there. Bayern Munich provided a strong midfield core with Thomas Mueller, teenager Jamal Musiala, Leroy Sane, Serge Gnabry, Leon Goretzka and Joshua Kimmich. Keeper Manuel Neuer will lead the team and remains first choice for the fourth consecutive World Cup. Reus had also missed the 2014 World Cup after suffering an injury on the eve of their departure for Brazil where they won the title.

☆ Every World Cup 2022 squad announced: USMNT, Germany, Belgium and more
▼ + stars: | 2022-11-10 | by ( Ben Morse | ) edition.cnn.com time to read: +13 min

CNN —‘Tis the season for wall charts and fans gathering around to pick their starting teams for the 2022 Qatar World Cup. “It’s always difficult when a guy helps you get to the World Cup, he scores three goals in World Cup qualifying and isn’t going to be a part of the program. Again, it’s more about who we did add that we felt good about.”All but one of the 26 will be making their World Cup debut at this year’s tournament and, according to the USMNT, it will be the youngest team to qualify for the World Cup. Octavio Passos/Getty Images Europe/Getty ImagesGhanaManager: Otto AddoThe final squad has not been announced yet. READ: Meet Otto Addo, the coach responsible for guiding some of Europe’s brightest young talents (2021)—–PortugalManager: Fernando SantosThe final squad has not been announced yet.

The challenge facing Adidas is how to cushion the financial blow from ending its Yeezy label partnership with Kanye West. Adidas AG again cut revenue and earnings guidance for the year to account for the end of its Yeezy label partnership with musician and designer Kanye West. The German sporting-goods giant now expects 2022 revenue to increase by a low-single-digit percentage at constant currency, from previous guidance in the mid single digits, it said Wednesday. Net profit from continuing operations should come in at around 250 million euros, equivalent to $251.9 million, half what it previously expected, with a gross margin of 47% and an operating margin of just 2.5%, Adidas said.

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