Temporary working capital

Cancer drug startup Valo latest to sign billion-dollar PSPC deal

POLITICS

AG Healey calls on business leaders to support electoral reforms

Massachusetts Attorney General Maura Healey on Wednesday urged business leaders to support national voting reform laws in a speech she gave to the Greater Boston Chamber of Commerce via a live broadcast. Healey, a Democrat from Charlestown, called on the business community to join her in defending federal reforms pushed by Democrats in Congress, including the For the People Act and the John Lewis Voting Rights Act. Federal bills would essentially make it easier for citizens to vote in certain situations and in some cases override more restrictive state-level laws. She noted that more than 360 bills have been introduced in 47 states to impose voting restrictions of some sort; she highlighted legislation being considered by the New Hampshire legislature, saying it would impose stricter voter identification measures and limits on student voting rights. “There are two forces in our country: those who fight to protect our democracy and those who try to undermine it,” Healey said. “I don’t think you can have a stable, predictable economy and successful businesses if these fundamental American principles and institutions fail, and they are really under threat today.” – JON CHESTO

MOTTO

Chinese users are unable to search popular crypto exchanges on the country’s internet services amid reports of possible censorship. Keyword searches for online trading platforms such as Binance, OKEx, and Huobi on popular internet services such as Baidu, Sogo, Zhihu, or Weibo do not return any results. Other media, including CoinDesk, first reported the possible blockage. The Chinese government recently renewed a regulatory crackdown on crypto mining and trading, helping to drop Bitcoin by about 45% since its peak in April. The exchanges that appear to be affected are among the largest in the digital asset world, with users based in Asia among the early adopters. Binance is the world’s largest crypto platform, with a trading volume of $ 30 billion in the past 24 hours, according to CoinMarketCap.com, a site owned by Binance. The Chinese government has tightened its cryptocurrency regulations since 2017 in an effort to control capital outflows and avoid speculative bubbles. BLOOMBERG NEWS

RETAIL SELLING

Brooks Brothers Goes Laid In Post-Bankruptcy Overhaul

A year of remote working has forced many to rethink what office life will be like after the pandemic, including the retailer who has been dressing businessmen for 200 years. This is the idea behind a series of initiatives from Brooks Brothers as it prepares a relaunch after exiting bankruptcy last year. There is a new athleisure line, a mix of products with other casual items and a mascot: Henry the sheep. That decision is overdue, said Ken Ohashi, who took over as chief executive in January with a plan to further capture spending from regular Brooks Brothers customers. Even before the pandemic, buyers’ tastes were shifting away from dressier clothes to more casual offerings. However, changing a centuries-old image is not easy. New York-based Brooks Brothers will try to add more casual shirts, suits and bottoms, with items like knits and sweaters. It’s alongside new lines of men’s and women’s sports including hoodies and sweatpants. Brooks Brothers filed for bankruptcy last year, part of a wave of retailers seeking court protection as the pandemic took Americans away from office life. Even before that, Brooks Brothers, which considers itself the nation’s oldest clothing retailer, struggled to keep up with changing consumer tastes and struggled with expensive leases. It now operates more than 630 stores worldwide, including 170 in the United States. Authentic Brands Group has acquired Brooks Brothers from bankruptcy with SPARC Group, a joint venture with mall owner Simon Property Group, adding it to a portfolio of other formerly bankrupt retailers, including Forever 21. Authentic is preparing for an IPO. on the stock market, Bloomberg reported last month. BLOOMBERG NEWS

AUTOMOTIVE

GM relaxes strict auto pollution standards

The nation’s largest automaker said on Wednesday it could support greenhouse gas emission limits other automakers have negotiated with California – if they are met primarily by promoting vehicle sales entirely. electric. It’s a new stance for General Motors, which had backed the Trump administration’s efforts to end California’s ability to set its own limits. The change brings GM closer to the 2019 California accord signed by five other automakers. Details of GM’s amended position came in a letter from CEO Mary Barra to EPA administrator Michael Regan, who met with automakers this week ahead of the agency’s release of its proposed standards for the matter. exhaust pipe pollution and fuel economy, set for later this month. An EPA spokesperson said on Wednesday that negotiations with automakers remained fluid but constructive as the agency seeks to meet the July target set by President Joe Biden for emissions standards. In his letter to Regan dated Tuesday, Barra wrote that GM now supports the demands of a 2019 agreement between California and five of its competitors: Ford, Volkswagen, Honda, BMW and Volvo. GM’s proposal is much less stringent than what Senator Tom Carper proposed to the EPA to meet climate targets. The Delaware Democrat urged the agency in April to follow the California accord throughout the 2026 model year, then set targets to end sales of new gasoline vehicles by 2035. The shift to electric vehicles is already happening, but slowly. Experts said it would be difficult to replace the 279 million passenger vehicles currently on U.S. roads – most of which run on gasoline – with electric vehicles in less than 15 years. ASSOCIATED PRESS

TRIP

Delta rehires agents to tackle phone call waiting hours for reservations

As customers face hours of phone waiting for customer service, Delta Air Lines has reminded some former employees of reservations at work on a temporary basis to help manage the load. Delta’s reservation lines are overcrowded as travelers return to the skies and seek to use credits from flights canceled at the start of the pandemic. Atlanta-based Delta has cut about 18,000 from its 90,000-strong staff as travel plummets 60% in 2020 due to COVID-19, and more than 40,000 employees have taken voluntary unpaid time off Last year. According to the most recent federal statistics, Delta had 65,659 employees in April, including full-time and part-time workers. This is down 27% from the previous year. The airline is now increasing its workforce as the summer travel season accelerates, bringing back hundreds of booking agents who have worked for the airline in the past. Delta has already seen a strong rebound in domestic leisure travel this month, driving more queries from travelers. “We are seeing a higher volume of calls as more and more clients start to travel, so we are adding staff through more planned hours and overtime for our specialists, hiring contract workers from been temporary and accelerate technology upgrades to strengthen existing self-service options. to meet travel needs, ”Delta said. The airline also plans to hire 1,300 new employees this year to help manage the workload. Delta recommends that customers first try using the airline’s online tools to book or change flights or to inquire about travel requirements. COX NEWSPAPERS

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