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Aug 16, 2019
Rupert Hogg, Cathay Pacific's CEO, announced that he is resigning after a long week of intense protests in Hong Kong. The news is coming just a few days after the airline fired two pilots and warned its staff that they could get fired if they were part of "illegal demonstrations, protests, and violent attacks." Hogg released a statement saying that it was an honor to lead the airline for three years, but he needs to take responsibility for the "challenging weeks." The chief executive of Hong Kong Aircraft Engineering Company, Augustus Tang, will be taking the role of CEO of Cathay.
Aug 16, 2019
Instagram announced that it would be implementing a new feature to allow users to report if they believe there's false information in any post. The pictures flagged with "misinformation" will not be removed from the platform, but they will not be added to the hashtag, explore or search pages once "fact-checkers" review them. The feature will be available at the end of the month, and Instagram added that the feedback received will be used to create artificial intelligence technology to improve the addition and stop the spread of false facts.
Aug 16, 2019
Share trading was delayed for over an hour in the FTSE 100 and FTSE 250 indexes due to a technical issue this morning. Smaller stocks were able to start trading at the usual time, 8:00 am, while the mentioned FTSEs were resumed at around 9:40 am. The London Stock Exchange revealed that it had delayed the start while they evaluated a potential issue with trading services because the platform had experienced a technical software problem. The issue originated the longest closure since 2011.
Aug 16, 2019
Huawei is causing controversy on social media for implying that Taiwan is an independent territory and not part of China. The default language in its smartphone settings was labeled as traditional Chinese, listing Taiwan as an independent country. The social media backlash is coming shortly after large companies such as Givenchy, Coach, and Swarovski have been involved in similar scandals for referring to Hong Kong and Macau as independent territories as well. Some users have reported that the error was fixed, but Huawei has declined to make any comments.
Aug 16, 2019
Twitter users are accusing Amazon ambassadors of being paid to lie online. The ambassadors program started as a way for Amazon employees to share their personal experiences working at the fulfillment centers on their social media, but according to Twitter users, their posts appear to be "scripted" and "robotic." The ambassadors seem to be praising their work conditions a little too much, which seems unrealistic to their readers because, in the past, Amazon's employees have accused the company of providing poor work conditions and low payments.
Aug 15, 2019
Macy's CEO, Jeff Gennette, announced during a call with analysts that it is teaming up with Google to power its backstage distribution center located in Columbus. The facility is set to open this Thursday, and Google Cloud will improve the department store's speed, scale, and efficiency. Gennette added that the Google-owned platform would be introduced to other centers in 2020. Macy's is not the first company that looks for assistance in Google, as other retailers such as Target, Kohl's, and Home Depot have also sought help to improve their supply chains.
Aug 15, 2019
Doug McMillon, the CEO of Walmart, said that the retailer is working to strengthen their processes and improve their technology to create a safer environment in their stores. The news came after the devastating shootings that took place last week at a Walmart store in El Paso. McMillon added that understanding the roots that caused the shootings are essential to taking measures to stop them in the future. The measures are being taken at the same time the company is facing pressure for being a big part of the gun market.
Aug 15, 2019
Revlon shares went up 7% after a source revealed that the company is considering a sale. The news came after the cosmetics company obtained a senior secured loan for $200 million as a fund at the same time it is facing $3 billion in dept. No further details were revealed as the company continues to explore other alternatives, however, even if Revlon is put up for sale, there's no guarantee that it will find a buyer due to the challenges in the market.
Aug 15, 2019
J.C Penney reported its second-quarter results that showed that the company's sales are dropping faster than expected by analysts. The mixed results showed a net loss of $48 million, less than the $101 million that the company lost a year earlier. There was also revenue of $2.62 billion, lower than the expectations of $2.69 million. The sales in the department stores decreased by 9%, which according to the company, is a consequence of removing sales of furniture and appliances. The report came at the same time the retailer is closing 18 of its locations.
Aug 15, 2019
The LGBTQ community filed a lawsuit against Youtube, claiming that they are being affected by "content regulations, distribution, and monetization practices that stigmatize, restrict, block, demonetize, and financially harm them." Some of the members of the community that spoke up about being affected by the situation are Bria Kam, Chrissy Chambers, Brett Somers, Chase Ross, and Lindsay Amer, as well as a news show called "GNews!" A spokesman for the platform, Alex Joseph, said that the policies involved are subjected to every content creator no matter their gender identity or sexual orientation.
Aug 15, 2019
Muller, a UK-based dairy giant, announced that due to a review of operations in Aberdeen, about 50 jobs would be at risk. According to a statement, the staff members of Muller were "devastated" with the news. Muller also announced that it would be creating about 22 new jobs after the upgrade of its Bellshill dairy. The company added that it understands its employees' position and that for the meantime, it will be providing them with support, advice, and the representation they need at this challenging time.
Aug 15, 2019
A software developer named Paige Thompson is being accused of allegedly stealing data from Capital One and possessing breached information of over 30 organizations. The U.S. Department of Justice said that Thompson had "terabytes" of breached data that belonged to several different government agencies, businesses, and schools. Thompson, who used to be an Amazon employee, is being investigated as the FBI is putting its efforts into identifying the over 100 million people who had their data breached to alert them about the delicate situation.
Aug 15, 2019
A lot more retailers are starting to implement services on their websites and their apps that allow customers to visit their physical stores and have a much seamless experience. This is the case of Nike, which recently designed a new flagship location in New York City for members of its NikePlus mobile app, where they have the option to reserve items on the app and pick them up at stores. Another company that has implemented a similar feature is Reformation, which displays one of each product in its showrooms, and customers can use their tablets to request the items they are interested in trying on.
Aug 15, 2019
Aggreko, a company that is in charge of supplying temporary power generators for global events such as the Glastonbury music festival and the Olympics, has been facing a lot of pressure from its customers to cut its carbon footprint. Although the company uses diesel power to operate, it announced that it will be putting 10% of its profits towards creating and implementing new technology. An executive of the firm, Robert Wells, said that the technology in the field is evolving quickly, and the company's goal is to reduce carbon footprint due to its customers' insistence, which includes the Open golf competition and the Rugby World Cup.
Aug 15, 2019
Microsoft warned its Windows 10 users to update their system due to issues that could affect their computers by spreading viruses. The director of Incident Response of the company revealed the news in a post this Tuesday. Pope encouraged customers to do the manual update as quickly as they can due to the "wormable vulnerabilities" that would affect millions of computers. However, users that already have automatic updates activated are safe from the virus, as well as those that use other systems such as Windows XP.
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