When athleisure brand Vuori launched in 2015, it was headquartered in a garage, sold only men’s shorts and couldn’t get investors to give it the time of day. Now, the Carlsbad, California, retailer is expanding globally, backed by a string of marquee investors including General Atlantic, SoftBank and Norwest Venture Partners, after raising $825 million in November in a funding ...
The fate of President Joe Biden’s landmark climate legislation, the Inflation Reduction Act, is in the hands of the incoming Republican-controlled White House, Senate and House of Representatives. At the White House level, President-elect Donald Trump has already nominated three people to posts in his administration who are likely to be key to the future of the IRA, if they are confirmed by ...
Starbucks Workers United said Tuesday that 98% of union baristas have voted to authorize a strike as they seek a contract with the coffee giant. Bargaining delegates are set to return to negotiations with Starbucks on Tuesday in the last scheduled session of the year with the goal of agreeing on a “foundational framework.” Starbucks and Workers United have spent hundreds ...
McKinsey & Company agreed to pay $650 million in a deferred prosecution agreement that will resolve a federal criminal probe into the company’s consulting work advising Purdue Pharma on how to increase sales of its opioid painkiller OxyContin, a court filing said Friday. A former top partner at McKinsey, Martin Elling, also agreed to plead guilty to obstruction of justice next month in the probe by the ...
Grubhub will pay $25 million to settle charges it misled customers about the cost of their delivery and drivers about how much they could earn on the food-delivery platform. The Federal Trade Commission and the attorney general for the state of Illinois accused Chicago-based Grubhub of engaging ‘in an array of unlawful practices’ designed to ‘deceive’ diners and workers alike ...
McKinsey & Company agreed to pay $650 million in a deferred prosecution agreement that will resolve a federal criminal probe into the company’s consulting work advising Purdue Pharma on how to increase sales of its opioid painkiller OxyContin, a court filing said Friday. A former top partner at McKinsey, Martin Elling, also agreed to plead guilty to obstruction of justice next month in the probe by the ...
Startup basketball league Unrivaled announced on Monday it’s closed a Series A funding round, raising an additional $28 million before its inaugural season. “Our players haven’t even taken the court yet and the foundation we are building with our partners unites unparalleled expertise, strategic insight, and an incredible product,” Unrivaled President Alex Bazzell said in a press release. “Together, we’re setting the ...
CrowdStrike moved Monday evening to dismiss Delta Air Lines’ lawsuit around the July cybersecurity outage that led to canceled flights and stranded passengers, arguing that the airline’s litigation was an attempt to circumvent the contract between the two companies. The agreement between CrowdStrike and Delta includes a clause limiting CrowdStrike’s liability and a cap on damages, which the cybersecurity provider says Delta is ...
Walmart has started giving store-level associates body cameras to wear as part of a pilot program at some of its U.S. locations, CNBC has learned. It’s not clear how many of Walmart’s stores have the recording devices, but some locations now have signs at entry points warning shoppers that it has “body-worn cameras in-use,” according to witnesses and photos posted online. ...
The former head of Ozy Media has been sentenced to 10 years in prison for his role in an alleged fraud involving the failed content startup. Carlos Watson was facing a maximum of 37 years in prison after his July conviction on securities and wire fraud charges. Prosecutors had sought a 17-year sentence and multimillion-dollar forfeiture to the government. “The ...