As some brands shy away from LGBTQ+ campaigns because of boycotts, others, including Glamour and The North Face, are embracing the community for Pride Month despite the potential backlash. For years, brands have honored Pride Month with LGTBQ+-friendly campaigns and sponsorships. But, Pride Month is coming on the heels of a successful boycott of Bud […]
Category: Business
US will be putting billions into high speed rail
Six decades after Japan debuted its shinkansen bullet trains, high-speed railconnects major cities in Europe, South Korea, Taiwan and especially China, which has a sprawling 26,000-mile system. Other regions are embracing it as well: trains race across Morocco, the Saudi Arabian desert and a high-speed line spanning Indonesia’s Java island opens in June. The one […]
Disney ditches ‘Star Wars Hotel’ with $300m loss
On May 18, when Disney announced that it was shutting down its ambitious Star Wars-themed Galactic Starcruiser hotel in Orlando at the end of September, just 19 months after opening, company executives did not immediately elaborate on what went wrong, framing the closure as merely “a business decision.” A somewhat fuller explanation came four days […]
US inflation accelerated in April
A key index of U.S. prices ticked higher in April, and consumer spending rebounded, a sign that inflationary pressures in the economy remain high. The index, which the Federal Reserve closely monitors, showed that prices rose 0.4% from March to April, much higher than the 0.1% rise the previous month. Measured year over year, prices […]
Satan, Gay Pride items anger Target customers
Target has found itself in hot water again over its gay pride collection, this time because of its partnership with a controversial designer. The major retailer partnered with U.K.-based brand Abprallen to sell merchandise with pro-LGBTQ messages to celebrate Pride month. A search on Target’s website finds some of the items. While the company was […]
Unsold Expired Bud Light going flat in stores
Bud Light has reportedly informed wholesalers it would buy back unsold beer once it expires as the company continues to face backlash from its polarizing pact with transgender influencer Dylan Mulvaney. The Wall Street Journal published a lengthy feature on the company’s struggles after conservatives across America have ditched Bud Light over the saga that […]
Facebook fined 1.2 Billion for user data misuse
Facebook’s owner, Meta, has been fined 1.2 billion for mishandling people’s data when transferring it between Europe and the United States. Issued by Ireland’s Data Protection Commission (DPC), it is the largest fine imposed under the EU’s General Data Protection Regulation privacy law. GDPR sets out rules companies must follow to transfer user data outside […]
Montana’s TikTok ban has hurt some businesses
Keri Williams wouldn’t have her business without TikTok. She launched The Branded Pinto, her custom hat shop, about two years ago after a video she shared of one of her creations “blew up” on TikTok. Nearly all of her business still comes from the platform. But earlier this week, Montana Gov. Greg Gianforte signed a […]
US credit card debt to hit 1 Trillion this year
American credit card debt remains at record-breaking heights, according to fresh government data, as consumers turn to plastic amid stubbornly high prices on everyday items and housing. U.S. credit card debt was $986 billion in the first quarter of this year, according to the latest report on household debt from the Federal Reserve Bank of […]
US bank bosses call collapse ‘unimaginable’
The former bosses of two US banks that collapsed in March, sparking global fears over the state of the financial industry, say the failures were caused by “unprecedented” circumstances. The remarks come in testimony prepared for a hearing in Washington on Tuesday. Lawmakers are examining the episode amid debate over what should have been done […]
Americans are holding on to their older cars
With new and used cars still painfully expensive, Ryan Holdsworth says he plans to keep his 9-year-old Chevy Cruze for at least four more years. Limiting his car payments and his overall debt is a bigger priority for him than having a new vehicle. A 35-year-old grocery store worker from Grand Rapids, Michigan, Holdsworth would […]
Will another bank bite the dust? Pacwest seeks help
Another regional bank is reportedly considering a sale or other moves. Bloomberg reported Wednesday that PacWest Bancorp is mulling those options. The California-headquartered bank has not seen an official process for an auction kickoff so far, according to the report. The outlet attributed the information to unnamed sources “familiar with the matter.” Those sources reportedly […]