The driver in a Chevy Suburban seemed intent on testing a Waymo robotic car on the streets of downtown Los Angeles this week.While playing chicken against the wheeled robot in Silicon Valley, he darted sharply into the next lane toward Waymo. The driverless white Jaguar swerved to avoid the larger car crossing the line and colliding with it. The human driver sped in front of the robot taxi and suddenly braked in front of it. The machine slowed just in time to avoid a collision, shifted into the next lane and the Chevy drove off, ending a brief but troubling…
Author: ricardofrancois
LONDON — Adidas said Wednesday that it has donated or plans to donate more than $150 million to groups fighting anti-Semitism and other forms of hate from sales of Yeezy shoes last year after it cut ties with rapper Ye, formerly known as Kanye West.The German sportswear brand had $1.3 billion worth of its iconic Yeezy sneakers stacked up in warehouses after it cut its partnership with Ye in October 2022 over his anti-Semitic and other offensive comments on social media and in interviews. Adidas decided to sell some of the remaining shoes in batches, with two releases last year…
C. B. Morgan Chase Endorsed by CEO Jamie Dimon Disney CEO Bob Iger in his proxy battle with activist Trian Partners, as CNBC's David Faber has learned.Damon gave the following statement about Iger to Faber:“Bob is a first-class executive and outstanding leader that I have known for decades. He knows the media and entertainment industry and has the proven track record of success to prove it. It is a complex industry full of creative talent, and requires unique expertise and engagement skills that Bob possesses. Appointing people to the board of directors unnecessarily can hurt the company. “I don't know…
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.Arm has unveiled its first designs for cars capable of powering self-driving cars as the UK-based chip designer seeks to fuel growth beyond the mobile processors it is best known for. SoftBank-backed Arm on Wednesday launched its high-power “Neoverse” class of chip designs, typically used in data centers, for automotive applications for the first time, along with a host of new systems aimed at automakers and their suppliers. The twin trends of electrification and assisted or autonomous driving systems are making software…
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.Stripe is in no rush to go public after the $65 billion payments company returned to positive cash flow and raised its valuation on the private market.The company, a Silicon Valley leader, told its investors on Wednesday that it processed more than $1 trillion in payments last year, up 25 percent from 2022, helping it recover from a painful period during which its valuation was cut in half.“2023 was a big year. We hit the double milestone of $1 trillion in payments…
Check out the companies making headlines before the bell: Dollar Tree – Shares fell 7% after the discount retailer reported disappointing quarterly results and announced several store closures. Dollar Tree reported adjusted earnings of $2.55 per share. However, it was not clear whether this number was similar to StreetAccount's estimate of $2.66 per share. Dollar Tree also said it plans to close approximately 1,000 stores. Dollar General – Shares of the discount retailer fell 2% after rival Dollar Tree's earnings announcement. Dollar General is scheduled to report earnings on Thursday before the open. Petco Health & Wellness – Shares rose…
Employee-focused mental health company Journey has acquired Felt, a startup formerly known as Mine'd that specializes in matching individuals with therapists using artificial intelligence. The financial terms of the deal were not disclosed. Journey, which offers mental health employee assistance software used by companies like Walgreens and Universal Music Group, says the acquisition aligns with its mission to revolutionize employee well-being and mental health support while harnessing the power of artificial intelligence. Aaron Albert, co-founder and CEO of Felt, told TechCrunch that the startup's acquisition is a natural evolution of its vision because it increases the company's ability to make…
A For Sale sign is placed in front of a home for sale in San Marino, California on September 6, 2023. Frederick J. Brown | AFP | Getty ImagesMortgage rates fell slightly last week, leading to a big jump in mortgage demand for the second week in a row. Total application volume rose 7.1% compared to the previous week, according to the Mortgage Bankers Association's seasonally adjusted index.The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) fell to 6.84% from 7.02%, with points falling to 0.65 from 0.67 (including origination fees) for low-interest…
Adidas shoes are on display at the DSW store on January 31, 2024 in Novato, California. Justin Sullivan | Getty ImagesAdidas company The German sportswear company warned Wednesday of declining sales in the crowded North American market in 2024, as the German sportswear brand continues to sell off its remaining Yeezy stock.Currency-neutral sales in North America are expected to decline to a mid-single-digit rate in 2024, but are expected to achieve mid-single-digit growth worldwide despite ongoing “macroeconomic challenges and geopolitical tensions,” the company said. .Adidas confirmed its 2023 operating profit reached €268 million ($292.9 million) on the back of flat…
In the month after former President Trump left office in 2021, Matt Pottinger, who was the point man on China on Trump's National Security Council, told me in an interview that if Trump had stayed in office for a second term, he might have moved to a position of “all-hands-on-deck” of the economy. America about China.However, John Bolton, who served as Trump's third national security adviser, predicted in early 2021 that if Trump were re-elected, he “may have returned to friendly relations and a disastrous trade deal.” [with China]Only for beginners.These conflicting statements indicate the unpredictability of Trump's actions regarding…