Nike’s viral ‘You Can’t Stop Us’ ad is winning big on social media

Nike’s latest viral ad is garnering praise online for its message of inclusiveness and perseverance at a time when organized sports have been upended the coronavirus pandemic. The video, called “You Can’t Stop Us,” features a split screen stitching together footage of Black, White, Asian and Muslim athletes. Since it launched on Thursday, it has…MORE

Qatar is coming to the rescue of British Airways and Iberia

Qatar Airways has promised to pump hundreds of millions of dollars into British Airways and Iberia as they fight to survive the coronavirus pandemic. International Airlines Group, which owns both European carriers said Friday that it plans to raise as much as €2.75 billion ($3.3 billion) from shareholders, including Qatar’s state-owned airline, to help weather…MORE

Australia wants to force Facebook and Google to pay media companies for news

Australia is moving to impose sweeping new rules that would require Facebook and Google to pay media organizations for the use of their news content. Regulators on Friday released draft legislation that would let news publishers in the country negotiate compensation with the two tech companies for sharing or displaying their stories. It would allow…MORE

Big Tech’s ‘staggering’ earnings live up to market hype

Think the Nasdaq has rallied too high, too fast? The biggest tech companies in the world have this to say: Check our numbers. What’s happening: One day after the CEOs of Amazon, Facebook, Apple and Google were grilled by Congress about whether their companies are too powerful, the businesses posted earnings that showed they’re only…MORE

Chevron and Exxon post huge losses as oil prices plummet

Exxon Mobil and Chevron both reported huge losses for the second quarter that were even worse than what Wall Street was expecting — yet another sign of how the Covid-19 pandemic has wrecked the global economy. Shares of Exxon and Chevron were each lower in early trading Friday after announcing the results. On Thursday both…MORE

Bankrupt Pier 1 becomes a walking zombie

Bankrupt Pier 1 Imports is winding down its brick-and-mortar operation, but its brand name will survive online. Retail Ecommerce Ventures (REV), an investment firm that buys beleaguered brands, is paying $31 million for the moribund home goods retailer’s name and intellectual property. The aim is to reboot Pier 1 online and create “robust ecommerce future…MORE

Europe’s economy suffers record 11.9% slump in GDP

Europe’s economy shrank by 11.9% in the second quarter as the coronavirus pandemic plunged the region into a deep recession. The quarter-on-quarter slump in EU GDP is the worst on record, and follows a fall of 3.2% in the first three months of the year. Compared with the same period a year ago, the drop…MORE

Alcohol delivery service Drizly hit by data breach affecting 2.4 million accounts

Drizly confirmed it suffered a massive breach earlier this month, saying data from 2.5 million accounts may have been stolen. The alcohol delivery service confirmed Wednesday that a hacker acquired some of its customer data, including emails, date-of-birth information, passwords, and in some cases, addresses. The breach was first reported by TechCrunch. Drizly discovered the…MORE

California Pizza Kitchen files for bankruptcy

California Pizza Kitchen is the latest fast casual chain to file for bankruptcy as the pandemic and its debt burden hampers its operations. The 35-year-old pizza chain filed for Chapter 11 Thursday, explaining that the process will help it “reduce its long-term debt load, and quickly emerge from bankruptcy as a much stronger company.” It…MORE

Coca-Cola is launching a Topo Chico hard seltzer

Coca-Cola is launching a hard seltzer under the cult-favorite brand Topo Chico. The drink will initially be available in select cities in Latin America. This is the company’s first move into the hard seltzer space. The beverage giant purchased Topo Chico in 2017 for $220 million. “The Coca-Cola Company is committed to exploring new products…MORE

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