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Adidas says it will offload struggling US fitness brand Reebok as part of a strategic overhaul. The German sportswear company said in a statement on Tuesday that it has decided to begin a formal process “aimed at divesting Reebok” following a review of the business that it announced late last year. “Reebok and Adidas will
Continue ReadingAt this point, there’s nothing particularly special about a fast food chain announcing a new fried chicken sandwich. So, McDonald’s is hoping to differentiate the upcoming launch of theirs with limited edition collection of clothing and music. McDonald’s will sell a limited number of $5 swag packages via a special website on Thursday. The swag
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Parler, the social network favored by conservatives, came back online Monday with a redesigned website one month after it was suspended by Amazon Web Services and effectively driven offline. “Speak freely and express yourself openly, without fear of being ‘deplatformed’ for your views,” Parler’s homepage read. Content from before Parler vanished no longer seems to
Continue ReadingBitcoin topped $50,000 Tuesday, continuing a stunning rise that has sent it soaring about $20,000 this year. The digital currency hit a record $50,602.53 before pulling back somewhat. Bitcoin is still up about 2% over the past 24 hours, and has rallied nearly 260% since the beginning of November. Investors have sent the price of
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When the federal government announced the Payroll Protection Program a few months after the pandemic began in 2020, many microbusiness owners — those with just one to 10 employees — assumed they’d have little problem securing one of the interest-free loans. Many of them were disappointed. In fact, nearly 79% of the PPP funds distributed
Continue ReadingThe carmakers at the heart of Germany’s huge manufacturing industry are facing a new threat: border checks that could delay crucial parts deliveries and force their factories to close. Truck drivers have experienced lengthy delays after Germany introduced stronger Covid-19 checks and immigration rules at its borders with Austria, the Czech Republic and Slovakia on
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Move over, Robinhood, here comes Goldman Sachs. The prestigious investment bank, known mainly for advising the affluent how to manage their money and for helping to engineer big deals on Wall Street, unveiled a new robo-adviser Tuesday for the average investor. Marcus Invest, an offshoot of the company’s Marcus retail banking arm, will let Goldman
Continue ReadingBreaking off a piece of that vegan KitKat bar is now a reality. Nestlé is launching a non-dairy version of the popular candy bar, called KitKat V. The Swiss company is jumping on the the plant-based alternative food trend. Nestlé promises the new candy still has the “perfect balance between crispy wafer and smooth chocolate.”
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Wall Street is expecting the economy to come roaring back to life in the second half of this year. But there’s one crucial question: Are Americans ready to spend the savings they’ve stashed away during the pandemic? What’s happening: In a note to clients this week, Goldman Sachs strategists estimated that Americans are sitting on
Continue ReadingA version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. “We’re back,” Mark Preston said on the phone from Wisconsin Monday night. “The CNN town halls are back.” President Biden will be fielding questions from Wisconsinites at a CNN town hall Tuesday at 9 p.m.
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Elon Musk wants to have a conversation with Vladimir Putin on his new favorite social media app: Clubhouse. On Saturday, the Tesla CEO tagged the Kremlin’s official account to ask if the Russian president would like to join him in a conversation on the audio-only app. “Would you like join me for a conversation on
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HBO Max will feature many big movies this year — all of Warner Bros.’ 2021 film slate, in fact. However, one of the biggest movies hitting the new service isn’t from 2021. It’s not even new; it’s a fresh take on a film from four years ago. On Sunday, the service released the latest trailer
Continue ReadingTesla’s $1.5 billion investment in bitcoin has helped legitimize the cryptocurrency as an investment, leading analysts and traders to ask which blue chip company will be the next to take the plunge, buying bitcoin for its corporate balance sheet. Wall Street analysts have peppered executives at other high-profile companies about possible bitcoin forays during recent
Continue ReadingMany French workers can now eat at their desks without breaking the law. To help curb the spread of Covid-19, the country has suspended a longstanding prohibition on desk lunches, according to a government decree published Sunday. The lunch break, or “la pause déjeuner,” has long been considered sacrosanct in France. Until now, French labor
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People are obsessed lately with trying to find a way to get rich quick through short-term trades. Just look at bitcoin, GameStop or cannabis stocks. Sure, traders can make a fast profit. But many people following the money on Reddit with their Robinhood accounts are engaging in speculative, risky behavior. This isn’t long-term investing a
Continue ReadingNgozi Okonjo-Iweala was confirmed as director-general of the World Trade Organization on Monday, becoming the first woman and the first African to lead the global trade body. Okonjo-Iweala was appointed by the WTO after the last remaining rival candidate, South Korean trade minister Yoo Myung-hee, withdrew from the race. She will take up her post
Continue ReadingJapan’s main stock index soared to its highest level in more than three decades on Monday as investors cheered signs of a rebound for the world’s third largest economy. The Nikkei 225 index jumped 1.9%, crossing the 30,000-point threshold for the first time since August 1990, according to data provider Refinitiv Eikon. Stocks soared after
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China banned BBC World News from airing in the country, according to a statement China’s National Radio and Television Administration released last week. The BBC says China is doing a disservice to its citizens. “China is taking its place on a very short list of countries alongside North Korea and Iran that explicitly and totally
Continue ReadingVolkswagen’s CEO Herbert Diess isn’t intimidated by Apple, even though the tech company potentially has an electric car on the way. “The car industry is not a typical tech sector that you could take over at a single stroke,” Diess said in an interview with German newspaper Frankfurter Allgemeine Zeitung. “Apple will not manage that
Continue ReadingWhen the coronavirus pandemic erupted in early 2020, the ensuing border closures and stay-at-home orders brought travel and tourism to its knees. One year on, governments are using the same playbook, inflicting more pain on a sector that accounts for 10% of global GDP and a similar share of jobs. What’s happening: While some countries such
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