facebook-logo twitter-logo

Menu
  • Parent Category: ROOT

Business News

Why Stitch Fix CEO Katrina Lake turned down a multimillion-dollar offer
Stefanie Keenan/Getty Images for The Business of Fashion (NEW YORK) -- Stitch Fix founder and CEO Katrina Lake made history in 2017 when she became the youngest female founder to take a company public at just 34. Founded in 2011, the online personal styling service became profitable within three years and now serves more than three million clients, generating over $1.5 billion in sales. "The original thesis was marrying humans and data and analytics to build this personalized shopping experience," Lake told ABC News' Rebecca Jarvis on the "No Limits with Rebecca Jarvis" podcast.Her vision was to transform the way...
Read more...
Why SpaceX is blowing up a Falcon 9 rocket for a safety test
Andrei Stanescu/iStock (NEW YORK) -- SpaceX is intentionally blowing up one of its Falcon 9 rockets shortly after it launches Sunday, during what it hopes will be the final unmanned test flight before the private aerospace company can send NASA astronauts to the International Space Station."We are purposely failing a launch vehicle to make sure that our abort system on the spacecraft that will be flying for our crews works, and so that’s a very, very different way for us to normally conduct a mission,” Kathy Lueders, the manager of the Commercial Crew Program at NASA said at a news...
Read more...
New software issues could delay return of Boeing's 737 Max
sanfel/iStock (NEW YORK) -- Boeing potentially faces more delays for the return of its 737 Max jets after another software issue surfaced during an audit meeting with regulators last weekend, sources tell ABC News.The 737 Max has been grounded for almost 10 months after it was connected to two crashes that killed a total of 346 people.Boeing decided to not just rewrite the software for the MCAS flight control system, which is believed to have contributed to both MAX crashes, but the entire flight computer software.The new software intends to have the 737 Max's two separate flight computers communicate with...
Read more...
A fee for rideshares to the airport may be unconstitutional, Arizona AG says
Anatoliy Sizov/iStock (PHOENIX) -- A $4 fee for hailing an Uber or Lyft to or from the airport in Phoenix has garnered a firestorm of reaction from residents and ride-share companies, and now Arizona's attorney general says he believes it's likely unconstitutional. The fee tacked onto any ride to or from the Sky Harbor airport has led Uber and Lyft to threaten to discontinue operating at the international hub, and faced backlash from local politicians.Moreover, Arizona Attorney General Mark Brnovich said Thursday he believes the city of Phoenix violated the state's constitution with it, citing an article that prohibits a...
Read more...
Apple could be forced to abandon its lightning cable by EU regulators
Wachiwit/iStock (NEW YORK) -- European lawmakers are pushing for a universal cellphone charger, arguing it is more environmentally friendly and more convenient for consumers, a move that could bring an end to Apple's exclusive lightning cable. Members of the European Parliament are calling for "binding measures for chargers to fit all mobile phones and other portable devices," according to a statement issued on Monday after a debate.The common charger could be used for "all mobile phones, tablets, e-book readers and other portable devices," the statement added. The policymakers argued the move will reduce electronic waste "and make consumers' life easier,"...
Read more...
Housing starts rise 16.9% in December, marking 13-year high
grandriver/iStock (WASHINGTON) -- More Americans broke ground on new homes last month, pushing housing starts to a 13-year high.The Census Bureau and Department of Housing and Urban Development announced Friday that new home construction rose in December to a seasonally adjusted annual rate of 1,608,000. That’s up 16.9% from November’s estimate, which was revised to 1,375,000. December’s rate is also up 40.8% from the same time period in 2018.Overall, the government reported that an estimated 1,289,800 housing units were started last year, up 3.2 percent from 2018.Copyright © 2020, ABC Audio. All rights reserved.
Read more...
Deaf man sues PornHub over lack of closed captions
domnicky/iStock (NEW YORK) -- A deaf man has sued PornHub and other pornographic websites because he said he “cannot enjoy video content” without closed captioning. Yaroslav Suris, a New York resident, tried to watch videos on PornHub entitled “Hot Step Aunt Babysits Disobedient Nephew,” “Sexy Cop Gets Witness To Talk” and others in October 2019 and January 2020, but was unable to due to the website's lack of closed captioning, according to the lawsuit filed Thursday in the Eastern District of New York. The lawsuit alleges that PornHub, RedTube and YouPorn are in violation of the 1990 Americans with Disabilities...
Read more...
Kat Von D steps down from her popular makeup brand
Jun/iStock (NEW YORK) -- Celebrity tattoo artist Kat Von D has officially announced that she is stepping down from her namesake makeup line. "It's hard to admit this, since I've always said, 'You can do everything and anything.' But I don't think admitting one's limits is a bad thing," she posted on Instagram Thursday. "With that said, I've decided to sell my shares of the brand, turning it over to Kendo, my partners for the past 11 years," she continued. "This was not an easy decision, but after careful consideration, I decided I wanted the makeup line to continue to...
Read more...
PepsiCo Announces 100 Percent Renewable Electricity
PepsiCo (NEW YORK) -- PepsiCo has announced they will use 100 percent renewable energy to power their US direct operations. The beverage and snack giant, whose brands include Gatorade, Tropicana and Lay's, will achieve this using power purchase agreements, virtual power purchase agreements, which finance new renewable energy projects, and renewable energy credits, which are credits that represent proof that electricity was generated by a renewable source. In 2020, PepsiCo will feature more RECs than PPAs and VPPAs, but the company will move to the latter two by 2025. "We have entered a decade that will be critical for the...
Read more...
Microsoft says it will be "carbon negative" by 2030
Lcva2/iStock (NEW YORK) -- Microsoft has announced they will become carbon negative by 2030. In a blog post on the company's website, Microsoft President Brad Smith said climate change is the reason. "The world’s climate experts agree that the world must take urgent action to bring down emissions," Smith wrote. "Ultimately, we must reach “net zero” emissions, meaning that humanity must remove as much carbon as it emits each year. " Microsoft's goal is to become carbon negative, meaning they will remove more carbon from the atmosphere than they emit each year. By 2050, Smith says the company will remove...
Read more...
Lawyer for former Nissan chairman resigns after client flees Japan
eyewave/iStock (NEW YORK) -- After his client jumped bail and fled the country, the lawyer for fugitive former Nissan chairman Carlos Ghosn has resigned. Junichiro Hironaka told reporters that he quit representing Ghosn on Thursday, according to video posted by Japan's national broadcaster, NHK.Ghosn's saga has sparked international intrigue in the weeks since he jumped bail and mysteriously fled to Lebanon while awaiting trial for charges of financial misconduct. He reportedly sneaked out of Japan in a case made to transport audio equipment, prompting Japanese music company Yamaha to issue a warning not to enter musical instrument cases.Ghosn is living...
Read more...
Payless ShoeSource makes a comeback after Chapter 11 bankruptcy
tupungato/iStock (NEW YORK) -- Payless ShoeSource is slated to make a comeback sooner than later after shuttering over 2,000 stores in North America. The popular footwear retailer known for its discount prices filed for Chapter 11 bankruptcy protection in February 2019. However, under the direction of the newly appointed executive team, new strategies are being put in place in an attempt to make the company profitable once again."I am pleased to have the opportunity to lead this iconic retail brand into a new strategic phase with a strengthened balance sheet and clean financial outlook," Jared Margolis, Payless' new CEO, said...
Read more...