The death of the department store has been a sad media narrative all year, as countless chains declared bankruptcy or insolvency against the coronavirus pandemic. Among the national brands filing for bankruptcy was JCPenney, the perennial mall anchor that had 800 national locations as of May.
Asked when he expects his employees to return to the office, Netflix CEO Reed Hastings did miss a beat. “Twelve hours after a vaccine is approved,” he joked in an interview with The Wall Street Journal. Jokes aside, the leader of one of the world’s most...
Kymeta, a satellite tech company based in Redmond, Washington, just garnered $85.2 million in an investment round led by Bill Gates. The investments will help Kymeta develop antenna technology to provide vehicles with greater connectivity. Antenna Tech If you’ve ever...
Apple became the first publicly traded U.S. company to reach a $2 trillion market cap. This comes only two years after the Silicon Valley giant became the first U.S. company to break the $1 trillion ceiling. In just two years, Apple doubled its already enormous valuation.
Robinhood, the mobile app that makes commission-free stock trading easy, is having a run. This week it announced its third investment opportunity in a year, launching a $200 million, Series G funding round. New York-based D1 Capital Partners led the round, which boosts Robinhood's valuation by about...
Beverage company Diageo has acquired Davos Brands in a $610 million deal announced this week. Davos produces such beloved elixirs as Astral Tequila, Sombra Mezcal, and TYKU Sake. But their most notable product is Aviation American Gin, a label owned by actor Ryan Reynold.
Former Google engineer Anthony Levandowski has been sentenced to 18-months in prison for stealing self-driving car technology. After leaving the Google division now known as Waymo, Levandowski founded Otto, his own autonomous trucking company. Levandowski later sold Otto to Uber, steering the car-hailing company down a legal...
McDonald’s is suing former CEO, Steve Easterbrook, as new information emerges about a pattern of sexual misconduct. The company alleges that Easterbrook misled investors when news of his misconduct initially came to light in November. Now, McDonald’s is suing Easterbrook for his severance package, which was worth...
President Trump on Thursday signed an executive order essentially banning the social media apps TikTok and WeChat. The sanctions, which will go into effect in 45 days, will pressure TikTok’s Chinese parent company ByteDance to sell the app to a US company, or face discontinuation in the...
NPR reported Saturday that TikTok is gearing up to file a lawsuit against the Trump Administration. This follows an executive order by President Trump which threatens to ban the Chinese-owned video-sharing app if it does not find an American buyer in the next 45 days. About...
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