The rapid-fire reshuffling at the top of Kylie Jenner’s cosmetic company continued this week with what appears to be the company’s fourth new chief in less than two years. Coty on Wednesday said it’s tapped Andrew Stanleick — Coty’s executive vice president of the Americas since 2017 — to head up Kylie Jenner Beauty Brands....Read More
Amazon is considering the launch of brick-and-mortar pharmacies in the United States, Insider reported on Wednesday, triggering a drop in shares of drugstore chain operators CVS and Walgreens. The talks are mostly exploratory and any meaningful rollout of stores can take more than a year, according to the news site, citing people familiar with the...Read More
Facebook’s photo-sharing app Instagram is launching the option for users globally to hide like counts on posts and the change will soon roll out on Facebook, after years of tests focused on lessening the pressure of using their services. Instagram users will be able to hide like counts on all posts in their feed and on their own posts....Read More
Sen. Elizabeth Warren branded Jamie Dimon “the star of the overdraft show” as she accused him and other Wall street titans of dinging customers with fees while they struggled during the pandemic. At a testy Senate Banking Committee hearing on Thursday, the Massachusetts Democrat noted that financial regulators had eased conditions for banks at the...Read More
The nationwide labor shortage has gotten so bad that a desperate McDonald’s location in Illinois is offering a free iPhone after six months of work to try to lure new employees. A photo of a window display advertising the promotion, which read “free iPhone after 6 months employment & meet employment criteria,” went viral on...Read More
Abercrombie & Fitch reported a bigger-than-expected 61 percent jump in first-quarter sales on Wednesday, as the apparel retailer benefited from shoppers returning to its stores and using its beefed-up online business. Shares of the Hollister and Gilly Hicks owner rose 11 percent as it also posted a surprise quarterly profit and predicted second-quarter net sales to...Read More
German police are investigating whether a fire that broke out overnight at the construction site of Tesla’s first European gigafactory had a political motive, after far-left activists claimed responsibility. The fire at Gruenheide in the eastern state of Brandenburg early Wednesday morning damaged several power cables leading to the Tesla site and an area of...Read More
Federal and state officials have announced plans to develop two wind farm sites off the coast of California. The projects could ultimately generate enough electricity to power about 1.6 million homes, the White House said Tuesday. Wind power is a key part of President Biden’s plan to shift toward renewable energy and reduce greenhouse gas...Read More
General Motors and Lockheed Martin will develop a vehicle to drive NASA astronauts around on the moon’s surface, they said Wednesday, competing for a space project that could also promote their brands on Earth. GM and Lockheed said they would collaborate to make a battery-powered, autonomous Lunar Terrain Vehicle for NASA’s Artemis lunar landing program,...Read More
The feds have a clear message for cryptocurrency users: A crackdown is coming. Federal Reserve vice chair of supervision Randal Quarles told the Senate Banking Committee on Tuesday that the agency is in a “sprint” alongside other US financial regulators to tighten supervision of cryptocurrencies like bitcoin and ethereum, according to Reuters. “We along with...Read More
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