Nike pulls products in China after designer sparks social media outrage

Nike pulls products in China after designer sparks social media outrage

Nike has stopped selling some products in China after a fashion designer’s support for protests in Hong Kong sparked a social media backlash. The US retail giant said in a statement Thursday that it had decided to remove some of its goods “based on feedback from Chinese consumers.” “We have withdrawn from China a small…

G20 approaches; H&M jumps; Nike earnings

G20 approaches; H&M jumps; Nike earnings

1. G20 approaches: US President Donald Trump arrives Thursday in Osaka, Japan — setting the stage for a high stakes weekend of trade talks and diplomacy. Trump’s meeting with Chinese President Xi Jinping on the sidelines of the G20 summit is highly anticipated, though it’s unclear if the two leaders will be able to reach…

Bank of America will no longer do business with companies that run detention centers

Bank of America will no longer do business with companies that run detention centers

Bank of America will end its association with companies that provide prisoner and immigrant detention services at both the state and federal levels. The move comes amid growing public concern about the nation’s border policies. A spokesperson said Wednesday that Bank of America has discussed the issue with its clients that provide those services. While…

How Honda survived a trade war with the US and won over Americans

How Honda survived a trade war with the US and won over Americans

In 1979, 22-year-old Neil Vining spotted a job advertisement that took him by surprise. Japanese automaker Honda was hiring American workers for its first plant on US soil. “It was a bit of shock that Honda decided to come to Ohio,” says Vining, now a chief engineer at Honda’s Marysville auto plant. Back then, Marysville…

Bitcoin surges past $13,000 then sheds about 13%

Bitcoin surges past $13,000 then sheds about 13%

Bitcoin could be headed for another meteoric rise, but it’s clear the cryptocurrency hasn’t shaken the curse of volatility. Its value surged on Wednesday, passing the $13,000 mark, before it shed about $1,000 within minutes. Around 6 pm ET, the currency was back to a $12,400-plus valuation. The reason for the sudden midday sell off…

Meek Mill just became a co-owner of Lids

Meek Mill just became a co-owner of Lids

Meek Mill wears a lot of hats: rapper, criminal justice reform advocate and now a co-owner of Lids — the well known retailer of hats and licensed sports products. He revealed the news Wednesday in an interview with Business Insider, which reported the rapper, whose real name is Robert Williams, will lead the company’s creative…

Wayfair donates $100,000 to the Red Cross after employee backlash

Wayfair donates $100,000 to the Red Cross after employee backlash

Wayfair will donate $100,000 to the American Red Cross after an employee backlash over the sale of bedroom furniture for use in a migrant detention facility. In a letter to employees, Wayfair cofounders Steve Conine and Niraj Shah said the company will donate the money to support the American Red Cross “in their effort to…

Dutch company develops partly solar powered car

Dutch company develops partly solar powered car

The Lightyear One is a car with solar panels stretching across its roof to charge the electric vehicle’s batteries. But whether it’s really a “solar powered car” depends on how you drive it. The car, created by Dutch startup Lightyear, has a charging port to plug into a charger. But the solar panels can charge…