Fred Segal, a pillar of California’s retail landscape, has officially closed its last two stores in Los Angeles and shuttered its website, according to owner Jeff Lotman. This move reflects ongoing struggles within the retail industry, exacerbated by challenges from the pandemic. “The shift to online shopping, economic uncertainties, and decreased foot traffic have made […]
Sustainability Consultancy Eco-Age Closes
Sustainability consultancy Eco-Age has announced its closure after facing financial difficulties exacerbated by criminal activities. Livia Firth, the company’s founder, expressed her sorrow on social media, stating, “Tragically, the business was targeted by criminals, and despite our best efforts, we have been unable to recover financially from the impact.” Eco-Age was established 17 years ago […]
Balmain Appoints Bruna Scognamiglio Chief Marketing Officer
Balmain has made headlines with the appointment of Bruna Scognamiglio as its new Chief Marketing Officer, effective September 9, 2024. Scognamiglio steps into this pivotal role following the departure of Txampi Diz, who had dedicated nearly twenty years to the luxury fashion house owned by Mayhoola. Reporting directly to the newly appointed Chief Executive Officer, […]
Hundreds of merchants protest against Temu fines
Hundreds of merchants are protesting against the fines imposed by Temu, an online shopping platform that has recently come under scrutiny. These penalties, introduced in April, can reach up to five times the value of a sale, creating a significant financial burden for small businesses. The protests have drawn attention to the adverse effects these […]
Blake Lively Launches Hair Care Line
Blake Lively is set to enter the beauty industry with the launch of her new hair care line, Blake Brown, debuting on August 4th. The collection will exclusively feature a range of products at Target, including two sets of shampoo and conditioner, along with a variety of hair masks. This move aligns Lively with other […]
Russia fines Google and TikTok over banned content
In a recent crackdown on digital platforms, Russia has levied substantial fines against global giants Google and TikTok for failing to comply with local content regulations. These penalties serve as a stark reminder of the increasing pressure on international tech companies to adhere to national laws concerning online content censorship. The fines come as part […]
US agency says Amazon to be held accountable for hazardous products
Amazon has recently come under scrutiny from US regulatory agencies for its accountability regarding hazardous products sold on its platform. The Consumer Product Safety Commission (CPSC) has asserted that Amazon must take action to ensure the safety of its inventory. This unprecedented move emphasizes the growing responsibility of e-commerce giants not only for their own […]
Microsoft boosts AI spending amid cloud growth slowdown
In a significant pivot aimed at navigating a slowdown in cloud growth, Microsoft has upped its artificial intelligence (AI) investments. The company reported a remarkable 77.6% increase in capital expenditures for the fourth quarter, soaring to $19 billion. This jump pushed its total capital spending for fiscal 2024 to a staggering $55.7 billion, emphasizing a […]
Intel to cut jobs to fund recovery
Intel is making headlines with its recent decision to cut jobs as part of a strategic maneuver to restore its status as a leader in the semiconductor sector. The company faces fierce competition from industry giants, which has prompted these cost-cutting measures deemed essential for recovery. As part of this initiative, Intel is poised to […]
AMD boosts AI chip sales forecast
AMD has declared a significant increase in its sales forecast for AI chips, a move that has resonated well within the market. Following this announcement, AMD’s shares surged by 7.5% in after-hours trading. This notable price movement showcases investor confidence in AMD’s strategy to bolster its position in the competitive AI chip landscape, currently dominated […]