H&M, Lululemon back $250 million Fashion Climate Fund to decarbonize supply chain

H&M, Lululemon back $250 million Fashion Climate Fund to decarbonize supply chain

H&M Foundation, the Schmidt Family Foundation also backers Fund aims to unlock $2 billion as solutions are scaled up LONDON, June 8 (Reuters) – Lululemon Athletica Inc (LULU.O) and H&M Group (HMb.ST) are among backers of a $250 million fund aiming to speed up efforts to cut carbon emissions in the fashion industry’s supply chain, … Read more

Singapore startup Zilingo fires CEO after suspension

Singapore startup Zilingo fires CEO after suspension

SINGAPORE, May 20 (Reuters) – Singapore-based Zilingo said on Friday it had fired Chief Executive Ankiti Bose after an independent investigation into complaints about what the fashion technology startup described as “serious financial irregularities”. Bose, 30, the face of Zilingo at industry forums and investor meetings, told Reuters she was wrongfully dismissed. “The board has … Read more

H&M-backed project pilots CO2-capturing aprons at Stockholm restaurant

H&M-backed project pilots CO2-capturing aprons at Stockholm restaurant

STOCKHOLM, May 20 (Reuters) – A Stockholm restaurant crew is wearing cotton aprons that capture greenhouse gas from the air, in a pilot of a technique developed by H&M-backed researchers as the fashion industry struggles to lower its climate impact. The textile industry has a large carbon footprint, something fashion giants are under increasing pressure … Read more

Russian auto boomtown grinds to halt over Ukraine sanctions

Russian auto boomtown grinds to halt over Ukraine sanctions

Kaluga car plants halt production Car demand falls, food prices soar Some hope Western resolve won’t last Others have seen crises pass before April 5 (Reuters) – Thousands of auto workers have been furloughed and food prices are soaring as Western sanctions pummel the small Russian city of Kaluga and its flagship foreign carmakers, with … Read more

Musk takes 9% stake in Twitter to become top shareholder

Musk takes 9% stake in Twitter to become top shareholder

Stake valued at about $3 billion Twitter shares surge 20% April 4 (Reuters) – Tesla Inc (TSLA.O) top boss Elon Musk revealed a 9.2% stake in Twitter Inc (TWTR.N), worth nearly $3 billion, making him the micro-blogging site’s largest shareholder and triggering a more than 25% rise in the company’s shares. Musk’s move comes close … Read more

China plans to remove hurdle to Sino-US audit cooperation

China plans to remove hurdle to Sino-US audit cooperation

A Chinese national flag flutters outside the China Securities Regulatory Commission (CSRC) building on the Financial Street in Beijing, China July 9, 2021. REUTERS/Tingshu Wang Register now for FREE unlimited access to Reuters.com Register SHANGHAI/BEIJING, April 2 (Reuters) – China on Saturday proposed revising confidentiality rules involving offshore listings, removing a legal hurdle to Sino-US … Read more

New York warehouse workers vote to form first US union at Amazon

New York warehouse workers vote to form first US union at Amazon

NEW YORK, April 1 (Reuters) – Workers at an Amazon.com Inc (AMZN.O) warehouse in New York City voted to form the first union at the second-largest US private employer, a victory that adds to recent grassroots successes by labor activists pushing into new industries. Employees at the online retailer’s fulfillment center in the borough of … Read more

Amazon union has strong lead in NY vote count; losing in Alabama

Amazon union has strong lead in NY vote count;  losing in Alabama

March 31 (Reuters) – Amazon.com Inc (AMZN.O) workers at a warehouse in New York City’s Staten Island have so far voted 57% in favor of unionizing with a final tally due on Friday, a potential landmark victory for organized labor at the second-largest US private employer. But that win contrasted with 53% of Amazon workers … Read more

Cryptoverse: Buoyant bitcoin helps market cruise past $2 trillion

Cryptoverse: Buoyant bitcoin helps market cruise past $2 trillion

Representations of virtual currency Bitcoin are seen in this picture illustration taken taken March 13, 2020. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register March 29 (Reuters) – As a bleak first quarter draws to a close, crypto seems to have the wind in its sails. It has pushed through the $2 … Read more

EXCLUSIVE US boost fines for automakers not meeting fuel economy rules in Tesla win

EXCLUSIVE US boost fines for automakers not meeting fuel economy rules in Tesla win

Traffic is seen on a highway in New York, US, July 2, 2021. REUTERS/Eduardo Munoz Register now for FREE unlimited access to Reuters.com Register WASHINGTON, March 27 (Reuters) – The US National Highway Traffic Safety Administration (NHTSA) on Sunday reinstated a sharp increase in penalties for automakers whose vehicles do not meet fuel efficiency requirements … Read more