The consequences for Kyrie Irving are piling up after the Brooklyn Nets guard’s tweeting of an antisemitic video last week. A day after Irving was suspended at least five games without pay by the Nets, sports apparel giant Nike announced it was suspending its relationship with Irving effective immediately and canceling the launch of his Kyrie 8 signature shoe, per CNBC’s Sara Eisen. Nike denounced antisemitism in its statement: At Nike, we believe there is no place for hate speech and we… Source link
Read More »The Federal Reserve just hiked interest rates — here’s the next shoe to drop
The Federal Reserve entering an interest-rate hiking cycle will have ramifications for the U.S. economy over time, stresses former Fed economist Vincent Reinhart. “Mortgages will be a little more expensive. You may see some increases in loan rates. It will be harder to buy a car on credit. That is the slowing,” Reinhart, who is now chief economist at Dreyfus and Mellon, said on Yahoo Finance Live. One could officially start the clock on these things happening. The Fed widely delivered its first… Source link
Read More »Roger Federer invested early in this shoe company — its stock has skyrocketed out of the gate
Tennis great Roger Federer has reason to smile this week, not because he has a ton of money and 20 Grand Slam titles. Back in 2019, Federer inked a partnership with high-end running sneaker brand On Holding. Federer also invested an undisclosed sum (at an undisclosed valuation) in the maker of sneakers with “cloud” soles, and has since worked alongside the brand to develop his own footwear line dubbed “The Roger.” Federer’s stake is very likely worth multiples more amid an enthusiastic… Source link
Read More »Here’s the next shoe to probably drop on battered investors
Lordstown Motors (RIDE) looks like one hot uninvestable mess right now, plainly put. But the rollercoaster of a ride for beleaguered investors (what is left of them, anyway) is likely far from over. Lordstown Motors said Monday that CEO and founder Steve Burns and CFO Julio Rodriguez have resigned. Angela Strand — its lead independent director — will assume the CEO position until a permanent leader is found. Becky Roof — an outside hire with extensive finance function experience —… Source link
Read More »Washington’s next antitrust shoe to drop: Google
With help from Leah Nylen and John Hendel Editor’s Note: Morning Tech is a free version of POLITICO Pro Technology’s morning newsletter, which is delivered to our subscribers each morning at 6 a.m. The POLITICO Pro platform combines the news you need with tools you can use to take action on the day’s biggest stories. Act on the news with POLITICO Pro. — Competition case a-comin’: On the tail end of a stretch of antitrust lawsuits against Facebook and Google, the search giant could… Source link
Read More »Tony Hsieh, Zappos Luminary Who Revolutionized the Shoe Business, Dies at 46
Tony Hsieh, the brilliant and big-hearted Zappos.com luminary who revolutionized the shoe business and built one of the most innovative companies in modern history, has died. He was 46. Hsieh’s family confirmed his death tonight in a text message to friends, noting that Tony’s generous spirit touched the lives of countless people and that he left an indelible mark on the world. The executive died from injuries sustained in a Connecticut house fire, according to press reports citing a… Source link
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