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The South African unit of Unilever will set up an advisory board and a diversity committee after apologizing for a hair care ad it admitted was “racist,” the consumer group said Friday. The advertisement by its TRESemmé brand, was posted on drugstore Clicks website last Friday, and described images of black women’s hair as “frizzy …
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The New York Stock Exchange has indicated that it will move its electronic trading systems out of New Jersey if the state implements a proposed tax on financial transactions, according to an internal memo seen by Reuters. The NYSE plans to announce that it will run one of its exchanges from a backup site in …
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Fanatics, which runs the sports merchandising for all the pro sports leagues, has just acquired the largest maker of college sports caps in a deal that’s saved 200 jobs from the coronavirus pandemic. The Jacksonville, Fla., firm said Tuesday it has purchased the cap-making operations of Top of the World, a $100 million company that …
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Wall Street could soon become a home office and a computer. The big brokerage firms and banks that are headquartered in New York City aren’t going to admit this publicly, at least not yet. With the COVID pandemic waning here in the Big Apple, banks have announced that their return-to-work plans will begin roughly after …
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The mystery player behind the unprecedented summer-long rally in tech stocks appears to be the colorful billionaire CEO of Japanese conglomerate Softbank. Masayoshi Son, known for making big plays in tech giants like Alibaba and Uber, has spent billions of dollars buying options on individual tech stocks starting in the spring, according to multiple reports …
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The world’s top tech tycoons lost nearly $44 billion in wealth Thursday as the stock market suffered its worst day in months. The massive losses for the industry’s 10 richest people followed a dizzying rally in tech stocks that helped the Nasdaq index hit an all-time high this week even though the coronavirus pandemic has …
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Technology stocks took a tumble on Wall Street Thursday, giving back some of their spectacular gains over the past several months and dragging the rest of the market down with them. The S&P 500 was down 3.4 percent as of 11:20 a.m. Eastern time, and the tech-heavy Nasdaq fell 4.8 percent. Both indexes had set …
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Robinhood Markets faces a probe by the Securities and Exchange Commission over its early failure to fully disclose its practice of selling clients’ orders to high-speed traders, the Wall Street Journal reported Wednesday. The investigation is at an advanced stage and the company could pay a fine exceeding $10 million, the report added, citing people …
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Macy’s just put mall owners on notice. Over the next two years the largest department store in the world will build new, smaller stores outside of malls, chief executive Jeff Gennette said on an earnings call. “We continue to believe that the best malls in the country will thrive. However, we also know that Macy’s …
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The wild ride that is Kodak’s stock market performance appears far from over. The company’s stock shot up by 65 percent on Tuesday after news broke that New York-based hedge fund D.E. Shaw had built up a 5.2 percent stake in the moribund camera technology firm. Word of D.E. Shaw’s stake, disclosed in a regulatory …
The South African unit of Unilever will set up an advisory board and a diversity committee after apologizing for a hair care ad it admitted was “racist,” the consumer group said Friday. The advertisement by its TRESemmé brand, was posted on drugstore Clicks website last Friday, and described images of black women’s hair as “frizzy …
