Buy-now-pay-later (BNPL) giant Klarna has raised new capital in a deal that not only values it at a massive $45.6bn but gives it a valuation as much as $14bn higher than its last fundraising round as recently as March.
A U.S. senator on Thursday slammed American companies, including Amazon and Nike, for turning a blind eye to allegations of forced labour in China, arguing they were making US consumers complicit in repressive policies.
Lawmakers in the House of Representatives are working on drafts of five antitrust bills, four of them aimed directly at reining in Big Tech, and may introduce them within days, according to three sources.
Gap has confirmed that it’s to close 19 UK and Republic of Ireland stores this summer. It follows a bruising pandemic period and news backs in October that the US firm was launching a review of its European business.
Online sales in the UK fell 9.1% year-on-year last month, although this was against a 61% increase in May 2020. And even with the fall, spend remain strong with sales volumes rising 46% compared to May 2019.
Inditex bounced back with a vengeance in Q1 with the Spanish fashion retail giant reporting higher profits and saying its sales grew 50% year-on-year. Sales in Q2 so far have also exceeded those of Q2 2019.
The outdoor apparel and footwear group has announced that it expects its second-quarter sales to exceed the figures achieved by the company in the same period two years ago, before the impact of the Covid-19 pandemic.