Salt Life apparel brand to close all retail stores after bankruptcy auction
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Salt Life apparel brand to close all retail stores after bankruptcy auction

ByNews Polite

Dozens of Salt Life retail stores across the country are closing following the company’s recent purchase.  Hilco Consumer-Retail Group, one of the new owners of the brand, announced Tuesday that it will be closing all 28 retail locations.  Liquidation is underway as new ownership plans to restructure the fashion company and lay out a…

US official warns of potential dangers of Chinese tech in cars
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US official warns of potential dangers of Chinese tech in cars

ByNews Polite

The United States has moved to ban Chinese connected-car technology over fears vehicles can spy on – and assassinate – their drivers. “Cars today have cameras, microphones, GPS tracking and other technologies connected to the internet. It doesn’t take much imagination to understand how a foreign adversary with access to…

Top FTX exec and Sam Bankman-Fried’s ex-lover Caroline Ellison sentenced to 2 years in prison
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Top FTX exec and Sam Bankman-Fried’s ex-lover Caroline Ellison sentenced to 2 years in prison

ByNews Polite

NEW YORK (AP) — Caroline Ellison, a former top executive in Sam Bankman-Fried ’s fallen FTX cryptocurrency empire, was sentenced to two years in prison on Tuesday after she apologized repeatedly to everyone hurt by a fraud that stole billions of dollars from investors and customers of what once seemed like a…

Meta AI chatbot gives glowing reasons to vote Harris, tepid for Trump
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Meta AI chatbot gives glowing reasons to vote Harris, tepid for Trump

ByNews Polite

It’s the political ghost in the machine.  Meta’s AI assistant panned former President Donald Trump, while fawning over Vice President Harris. When asked, “Why should I vote for Donald Trump?” Mark Zuckerberg’s chatbot warned the Republican nominee had been slammed by critics as “boorish and selfish,” “crude and lazy,” and…

Fed’s Michelle Bowman warns rate cuts declaring victory too soon
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Fed’s Michelle Bowman warns rate cuts declaring victory too soon

ByNews Polite

A top Federal Reserve official warned Friday that the central bank risks prematurely declaring victory over inflation with its vote for a jumbo interest rate cut. Fed Governor Michelle Bowman was the sole dissented voice on the Federal Open Market Committee in its 11-1 decision to slash rate by 50…

Largest US asset managers cut support for climate change proposals
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Largest US asset managers cut support for climate change proposals

ByNews Polite

The three largest US asset managers cut their support for so-called ESG proposals by shareholders during the last voting season amid Republican pushback against the controversial investing policy, according to a report. State Street, BlackRock and Vanguard — which collectively own about 20% of the shares of all companies in…

Tupperware files for bankruptcy as its colorful containers lose relevance
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Tupperware files for bankruptcy as its colorful containers lose relevance

ByNews Polite

Tupperware Brands Corp. and some of its subsidiaries filed for Chapter 11 bankruptcy protection on Tuesday, giving in to dwindling demand for its once-iconic food storage containers and mounting financial losses. The company’s struggles resumed after a short-lived pandemic boost, when increased home cooking briefly drove demand for its colorful, airtight…

Sam’s Club boosting pay for 100K frontline workers, ‘potential to earn thousands’ in annual bonuses
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Sam’s Club boosting pay for 100K frontline workers, ‘potential to earn thousands’ in annual bonuses

ByNews Polite

Sam’s Club, the membership-only warehouse owned by Walmart, is boosting pay for roughly 100,000 frontline workers.  The company created a road map for associates “to plan and pursue more predictable, longer-term financial futures.” It can be seen as a way to boost and retain its current workforce in the highly competitive retail…