Business

12

Apr

By Dorothy Brand

Business

Boeing CEO’s penchant for cost-cutting doesn’t apply to his trips on the company jet

When it comes to building planes, Boeing CEO Dave Calhoun is all about streamlining costs. An accountant by training, Calhoun has prioritized fiscal discipline over his four years at the helm, tightening the belt to free up cash flow and put the company on better financial footing. But when it comes to living the CEO lifestyle, that thriftiness goes right out the window. See here: Boeing reported in a regulatory filing that four top executives, including Calhoun, got an extra half-million dollars worth of personal private jet travel on the company’s dime that had previously been improperly recorded as business…

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06

Apr

By Dorothy Brand

Business, Technology

iPhone sales are plunging. Here’s why

Apple’s smartphone sales tumbled a stunning 10% last quarter, according to market research firm IDC. The main cause: iPhone sales in China fell sharply. The company has lost momentum in China as nationalism, a rough economy and increased competition have hurt Apple over the past several months. “It’s a steep drop for Apple, but if you think of where we have been in the past four years, Apple has probably been the most resilient brand, overcoming supply chain issues and macro challenges, more than other brands,” said Nabila Popal, research director at IDC, told CNN. Samsung had been the top…

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21

Sep

By Dorothy Brand

Business

Montgomery Co. Developing Community Guide to Prevent and Address Flooding

Residents are being asked to share their experiences with flood situations by filling out a brief and confidential questionnaire. You don’t have to live along a river, coastline or in a place prone to severe weather to be impacted by flooding — and Montgomery County, Maryland, is developing a flood management plan it wants residents to help inform. Residents are being asked to share their experiences with flood situations by filling out a brief and confidential questionnaire that will lend insight into potential strategies to eliminate or minimize the risks of flooding. For example, the survey asks what people know…

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21

Sep

By Dorothy Brand

Business

Marriott to open Edition property in Italy’s Lake Como

Marriott International plans to bring its Edition Hotels brand to Italy’s Lake Como in 2025. The Lake Como Edition will be located within a 19th century building on the western shore of the well-known lake, and feature 145 guest rooms, including two penthouse suites, along with a lobby bar, pool and multiple restaurants and bars overlooking the lake. The hotel group has signed an agreement with Bain Capital Credit and Omnam Group for the forthcoming property. Josh Fluhr, senior VP and managing director at Edition Hotels, Marriott International “We are excited to work with Bain Capital Credit and Omnam Group…

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21

Sep

By Dorothy Brand

Business

Sweco to Explore Floating Solar Power for Uganda

The floating solar farm will be installed upstream of a hydro-electric dam The floating solar farms will diversify Uganda’s energy mix, which currently comprises mainly hydroelectric power. Sweco will also deliver a detailed design of a pilot plant.The solar panels will float on reservoirs upstream of one of the hydroelectric dams – Sweco will conduct a preliminary assessment of four dames to determine which one is most suitable for the project.  After the dam has been chosen, Sweco will carry out a detailed study and produce a design and specifications to enable the procurement of contractors.  The study will also…

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21

Sep

By Dorothy Brand

Business

Reliance Retail Plans ‘Fast Fashion’ Stores to Take Fight to Zara

Reliance Retail is planning to launch a new clothing and accessories brand store chain to compete directly with fast fashion brands Zara and H&M in India. “The new format, internally called Regalia, will be spread across 20,000-30,000 square feet, and the company could open six stores initially. They have finalized their store locations in Mumbai and Gurgaon (Gurugram) and have also signed properties in Hyderabad and Bangalore,” said two people privy to the launch. The name of the brand will be announced at the time of the launch. The company will start store fit-outs in some cities and the brand…

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21

Sep

By Dorothy Brand

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Business

MyPillow’s Mike Lindell sues Justice Department, FBI over Seized Cellphone

MINNEAPOLIS — MyPillow chief executive Mike Lindell has sued the Department of Justice and the FBI, demanding the return of a cellphone agents seized from him outside a fast food restaurant in southern Minnesota last week, apparently as part of an investigation into an alleged scheme to breach voting system technology. Lindell alleges in the complaint, filed Tuesday in federal court in Minnesota, that the confiscation of his iPhone violated his constitutional rights against unlawful search and seizure and an attempt to chill his freedom of speech. Lindell, a prominent promoter of false claims that voting machines were manipulated to…

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21

Sep

By Dorothy Brand

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Business

Hyatt to Expand Presence in Latin America and the Caribbean

Hyatt plans to open 20 new hotels in the Latin America and Caribbean region through 2024. The expansion will be focused on the group’s luxury, lifestyle, and resort brands, owing to the leisure travel demand. Highlighted openings include the first Park Hyatt hotel in Mexico in 2024 (Park Hyatt Los Cabos and Residences) and the first Andaz hotel in Mexico City (Andaz Mexico City Condesa) this autumn. Camilo Bolanos, senior vice president of development, Latin America and the Caribbean, Hyatt, commented: “Latin America and the Caribbean are top leisure destinations for global travelers, and we continue to grow Hyatt’s brand…

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21

Sep

By Dorothy Brand

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Business

FTX in talks with investors to raise $1B for further acquisitions — Reports

Sam-Bankman Fried’s crypto exchange FTX is reportedly engaged in talks with investors to raise $1 billion in new funding, as it looks to utilize extra capital for financial acquisitions during the bear market.  According to a Sept. 21 report from CNBC which cites sources close to the matter, the talks are still ongoing and the details could still be subject to change. If found to be true, the funding amount would keep the FTX’s current valuation of roughly $32 billion intact.  The potential $1 billion funding round would add to the $400 million FTX raised in January and could signal…

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21

Sep

By Dorothy Brand

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Business

Citizens Financial Group Enters the New York Market with Living Portraits of NYC with Beth Johnson

Citizens Financial Group is one of the nation’s oldest and largest financial institutions founded in 1828 and headquartered in Providence, Rhode Island offering a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations, and institutions with more than 1,200 branches in 14 states including New York, and New Jersey.  Beth Johnson, Chief Experience Officer and Head of Environmental and social & Governance of Citizens Financial Group, Inc. leads an organization focused on building the capabilities to deliver excellent experiences for customers in a rapidly changing banking environment including working to enact…

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