Business Archive

Children's fancy dress costumes still a danger, say British fire chiefs

UK fire chiefs are warning parents of the potential dangers of children’s fancy dress costumes in the run-up to Halloween and Bonfire night. The Chief Fire Officers Association (CFOA) claimed there have been no improvements to safety legislation over the outfits – still classified as toys rather than clothing – despite the torrent of negative publicity triggered by the 2014 fire that seriously injured the …

Flotsam and fashion: recycler of 'ghost' fishing nets makes marine litter trendy

The oceans are choked with discarded fishing nets, or ghost nets, that are estimated to kill 300,000 whales, dolphins and seals each year. It’s a grotesque and avoidable toll on nature, and one that Giulio Bonazzi, CEO of Aquafil, hopes to reduce using an unlikely ally – fashion. The Italian firm is pioneering the use of “ghost” or discarded fishing nets to make a synthetic …

'Clock is ticking' on companies exploiting 'gig economy' says Labour MP

Influential Labour MP Frank Field has said the “clock is ticking” against companies who exploit workers trapped in the gig economy. On Thursday ministers ordered a crackdown on companies using large numbers of self-employed or agency workers following an investigation by the Guardian into low pay at the delivery company Hermes. Field warned that other firms could now face scrutiny, revealing his office had been …

Talking diversity, going global at the TC Meetup + Pitch-off in Seoul

You might have already read about our forthcoming TC Meetup + Pitch-off in Seoul next week. But what you might not know is that we’re integrating more content into the program so you can hear from some of the most intelligent minds in the industry. As per usual, we’ll be holding the TC Pitch-off, where 10 companies will have exactly 60 seconds to pitch their …

Furlenco’s $30 million raise shows furniture rental is working for Indian millennials

The idea of ownership in the American economy has changed so much in recent years that it’s easy to forget the once high level of importance placed on it. If we think back, most of us can remember at-least one conversation with our parents about Uber or Airbnb that resulted in a lecture about the dangers of using other people’s things. Ajith Mohan Karimpana, the founder and CEO …

Karl Lagerfeld to open hotel chain

Karl Lagerfeld announced on Monday that he plans to launch his own branded hotel chain, with the first to open in the Chinese gambling hub of Macau in 2018. His first hotel is being built with a local partner in the luxury Lisboa Palace Complex in Macau but the Lagerfeld group is “in the process of studying other opportunities to open other properties around the …

McDonald’s plan hasn’t transformed its profits

Poor Ronald McDonald. Following the scary clown appearances that shocked people around the globe, the burger chain has decided to cut back on public appearances of its pasty-faced mascot. That is not the only bad news for McDonald’s, which reports third-quarter figures on Friday. According to the Wall Street Journal, an internal memo shows that only one in five millennials has ever tried a Big …

After being outed for massive hack and installing an NSA "rootkit," Yahoo cancels earnings call

What do you do if your ailing internet giant has been outed for losing, and then keeping silent about, 500 million user accounts, then letting American spy agencies install a rootkit on its mail service, possibly scuttling its impending, hail-mary acquisition by a risk-averse, old economy phone company? Just cancel your investor call and with it, any chance of awkward, on-the-record questions. (via /.)  …

Game developers say no to DRM: "hurts our customers"

The developers behind the hotly anticipated Shadow Warrior 2 have gone on record explaining why they didn’t add DRM to their new title: they themselves hate DRM, and understand that DRM disproportionately inconveniences legit customers, not pirates who play cracked versions without DRM. A frequent battle-cry of the copyright maximalist is that “you can’t compete with free.” It’s true that enticing people to …

The pathogens of Wells Fargo's corruption fester in every large corporation

Despite the denials of its new CEO, Wells Fargo had a serious, widespread cultural problem that led it to commit at least 2,000,000 financial crimes. But the crimes and the culture are widespread across America’s banks, and they spread further than that, because the system is rigged to reward financial crime. To understand the systemic enticements to fraud in corporate America, you …