Business

Chocolate Giant To Spend $1B Fighting Climate Change

Business Insider reports: Chocolate giant Mars is promising to spend close to $1 billion over the next few years fighting climate change. The $35 billion food giant behind brands like M&Ms, Skittles, and Twix on Wednesday launched its “Sustainability in a Generation” plan, aiming to reduce the carbon footprint of its business and supply chain by more than 60% by ...

Read More »

Former Monk Sues L’Oreal Over Wrinkle Cream Patent

The Associated Press reports: A former Roman Catholic monk has filed a federal lawsuit against cosmetics giant L’Oreal, accusing the company of stealing patented technology in an anti-aging wrinkle cream that his charity was selling to raise money for the poor. Dennis Wyrzykowski and his company, Carmel Laboratories LLC, have been joined in the lawsuit by the University of Massachusetts ...

Read More »

Aetna Hit With Class Action Suit Over HIV Disclosures

STAT News reports: Legal groups on Monday filed a class-action lawsuit against the health insurer Aetna, alleging the company violated the privacy of its customers by sending many of them letters through which the phrase “filling prescriptions for HIV” was visible through envelope windows. The federal suit alleges the breach affected as many as 12,000 Aetna customers living in 23 ...

Read More »

California Bakery Refuses To Serve Gay Couple Because “Our Business Is God’s Business, We Work For Him”

ABC News reports: A Bakersfield bakery is facing controversy after they reportedly refused to serve a gay couple. Posts on social media have criticized Tastries Bakery for refusing to make a wedding cake for a gay couple. The owner of the bakery has said she chose not to create the cakes because of her beliefs. Owner Cathy Miller said, “Here ...

Read More »

Aetna Envelopes Reveal Patients’ HIV Status

STAT News reports: Thousands of people with HIV received mailed letters from Aetna last month that may have disclosed their HIV status on the envelope. The letters, which Aetna said were sent to approximately 12,000 people, were meant to relay a change in pharmacy benefits. Text visible through a small window on the envelopes listed the patients’ names and suggested ...

Read More »

Google Cracks Down On Extremist YouTube Videos

Bloomberg reports: Starting on Thursday, Google will police YouTube like it never has before, adding warnings and disabling advertising on videos that the company determines crosses its new threshold for offensive content. YouTube isn’t removing the selected videos, but is instead setting new restrictions on viewing, sharing and making money on them. A note detailing the changes will go to ...

Read More »

Whole Foods Shareholders OK Amazon Takeover

CNBC reports: Whole Foods shareholders have at last voted to advance Amazon’s acquisition of the grocery chain, moving the proposal one step closer to reality. Gathered at Whole Food’s headquarters in Austin, Texas, the retailer’s shareholders approved a merger with the internet giant on Wednesday morning. Amazon shareholders don’t need to sign off on the deal. Now, completion of the ...

Read More »

AMC Battles Unlimited Movies At $9.99/Month

Well, not quite unlimited. One per day. The New York Daily News reports: A six-year-old entertainment start-up is trying to revolutionize the movie industry: with a price of just $9.95 per month. The New York-based company MoviePass, in existence since 2011, has announced that it is changing its monthly subscription fee to $9.95. It is essentially striving to become the ...

Read More »

Apple Donates $2 Million To Fight Nazis

USA Today reports: Apple CEO Tim Cook said the company would donate $2 million to anti-hate groups, releasing a staff memo that rebuked President Trump and others who claim a “moral equivalence” between white supremacists and the protesters who countered them in last week’s deadly Virginia rally. Cook sent a memo to employees Wednesday pledging the donations to the Southern ...

Read More »

Walmart CEO Rebukes Trump On Nazis: He Missed A Critical Opportunity To Bring Our Country Together

The New York Times reports: Walmart’s chief executive issued a strong rebuke of President Trump’s response to the protests that turned violent in Charlottesville, Va., saying the president “missed a critical opportunity to help bring our country together.” The criticism came in a statement that the retailer’s chief executive, Doug McMillon, emailed to employees Monday evening, which was reviewed by ...

Read More »

Trump Attacks CEO “Grandstanders” For Resigning From Advisory Council Over His Response To Nazi Terrorism

CNBC reports: President Donald Trump on Tuesday slammed the three chief executives who recently left his manufacturing council as “grandstanders.” Since Monday, three CEO have stepped down from their advisory roles. Merck’s Ken Frazier did so on Monday morning, followed by Under Armour’s Kevin Plank and Intel’s Brian Krzanich. Shortly after Trump’s tweet Tuesday, Scott Paul, president of the Alliance ...

Read More »

More CEOs Bail On Trump Over Nazi Response

CNN Money reports: The chief executives of Merck, Under Armour and Intel all quit a presidential manufacturing council on Monday after Trump took two days to denounce white supremacy. Most notable was Kenneth Frazier of Merck, one of the most prominent black executives in the United States, who said the nation’s leaders “must honor our fundamental values by clearly rejecting ...

Read More »

Tiki Brand Denounces Torch Nazis

CNN Money reports: Tiki Brand is distancing itself from white nationalists who used tiki torches in a protest march in Charlottesville, Virginia. “Tiki Brand is not associated in any way with the events that took place in Charlottesville and are deeply saddened and disappointed,” the company said in a statement Monday. “We do not support their message or the use ...

Read More »

Pharma CEO Resigns From Trump Council Over Nazi Terror Response, Trump Attacks His “Ripoff” Prices

The Hill reports: The chairman and CEO of Merck announced he was resigning from President Trump’s American Manufacturing Council. “Our country’s strength stems from its diversity and the contributions made by men and women of different faiths, races, sexual orientations and political beliefs,” Kenneth C. Frazier said in a statement. “America’s leaders must honor our fundamental values by clearly rejecting ...

Read More »

Wall Street Ponders Nuclear War

The Wall Street Journal reports: Here’s a question that’s probably not on the CFA exam: What happens to financial markets if two nuclear-armed nations go to war? After a week of escalating tensions between the U.S. and North Korea, some financial analysts are now taking a stab at it. Strategists at Nordea Markets estimate that in the unlikely event of ...

Read More »

NEW TRUMP YORK TRUMP CITY: Trump Advisor Ivanka Trump To Open Ivanka Trump Store In Trump Tower

CNN Money reports: The Ivanka Trump brand is setting up shop in Trump Tower. The label will open a physical store in the Manhattan building this fall, a brand representative confirmed. The company declined to provide any additional details. Right now, Ivanka Trump clothing and accessories are available through partner stores, such as Bloomingdale’s, Lord & Taylor, Dillard’s, Macy’s, Zappos, ...

Read More »

New Apple Watch To Untether From iPhone

Not quite Dick Tracy, but closer. Bloomberg reports: Apple Inc. is planning to release a version of its smartwatch later this year that can connect directly to cellular networks, a move designed to reduce the device’s reliance on the iPhone, people familiar with the matter said. Currently, Apple requires its smartwatch to be connected wirelessly to an iPhone to stream ...

Read More »

Trump’s First Wife Files TV And Book Trademarks

Bloomberg reports: As Ivana Trump, the fashion model turned businesswoman and ex-wife of U.S. President Donald Trump, prepares for the October release of a new book about raising her children, she’s seeking approval from trademark officials to protect her name in various entertainment and business services. Trump filed a request with the U.S. trademark office in late June to safeguard ...

Read More »

Discovery Buys HGTV Parent In $14.6B Deal

From the Hollywood Reporter: Discovery Communications and Scripps Networks Interactive have made it official, unveiling a $14.6 billion deal that will combine the two cable networks companies known mostly for non-scripted and lifestyle content. Discovery will acquire Scripps in the cash-and-stock deal, which the companies said would bring together two sets of strong brands, including networks popular with women, allow ...

Read More »

Jeff Bezos Becomes World’s Richest Person

At least for today. Bloomberg reports: A surge in Amazon.com Inc. shares Thursday morning in advance of the online retailer’s earnings report has propelled founder Jeff Bezos past Bill Gates as the world’s richest person. Shares of the online retailer rose 1.3 percent to $1,065.92 at 10:10 a.m. in New York, giving Bezos a net worth of $90.9 billion, versus ...

Read More »