Sam Bankman-Fried, the former CEO of cryptocurrency platform FTX, orchestrated a years-long fraud by diverting investors’ funds to his private hedge fund and using them to make venture investments, lavish real estate purchases and large political donations, the U.S. Securities and Exchange Commission alleged Tuesday in a complaint. Bankman-Fried was arrested Monday in the Bahamas, where...
Commerce
Lanvin’s IPO: Can the Chinese Group Make a Name for Itself in Luxury?
Lanvin Group has another party betting on its success. In the wake of Meritz Securities Co. committing $50 million in a private placement ahead of Lanvin Group’s NYSE listing this month, the Shanghai-based fashion group announced on Monday that Handsome Corp. – which has been the exclusive distributor of the Lanvin brand in South Korea since 2007 – will...
Volatile Pay for Gig Workers Linked to Health Problems
Gig workers, waiters, salespeople and others who rely on fluctuating income may be paying for wage volatility with their health, according to research published by the American Psychological Association. In three studies spanning several industries in the U.S., workers who experienced more volatile pay reported worse physical health symptoms, including poor sleep quality, headaches, stomach...
Co-Working Spaces Limit Creativity in the Long Run, Finds New Study
Co-working spaces can limit the creativity and innovation of new businesses, a study has found. These shared spaces, which have boomed in popularity since the pandemic, may offer initial opportunities to collaborate but, before long, they ultimately inhibit the emergence of collaborative practices. The study, co-authored by Bayes Business School, investigated how collaborative practices emerge in...
In Negotiations, Hoodwinking Others Has a Cost, Study Finds
Lying to another person to get the better of them in a financial negotiation might win you more money, but you are likely to end up feeling guilty and less satisfied with the deal than if you had been honest, according to research published by the American Psychological Association. Study author Alex Van Zant, PhD,...
Stock Running Low? Consumers Want to Know
Retailers can reduce the number of incidents where they run out of certain products – known as stockouts – by telling shoppers supply is low, a strategy that can help retain customers over the long term, according to new research by Boston College Assistant Professor of Business Analytics Dmitry Mitrofanov. Traditionally, retailers have been reluctant...
Targeting Serial Returners to Stem a Growing Problem for Retailers
This holiday season is expected to set another record for online sales, according to the National Retail Federation. But if consumer habits mirror previous years, 20% to 30% of the merchandise will be returned. It’s a big financial hit and logistical challenge for retailers that cover all the shipping, sorting and processing. “Supply chain managers...
Musk’s Twitter Ownership Is More Complicated Than He Might Have Anticipated
Elon Musk’s purchase and overhaul of Twitter since October has raised more questions about the social media platform’s future. Cliff Lampe, professor and associate dean for academic affairs at the University of Michigan’s School of Information, said the company has struggled financially in recent years, seen numerous employees fired, and had many followers leave the...
Q&A: How ‘Buy Now Pay Later’ Impacts Financial Health
“Buy Now Pay Later” platforms, such as Afterpay and Affirm, offer consumers almost instant access to credit for retail purchases without a hard credit check. While BNPL spending is projected to reach $1 trillion globally by 2025, little is known about its effects. BNPL, which typically appears as an option during checkout on a retailer’s website, most...
‘Uncertain’ Economic Outlook Includes Negative Growth in 2023; Recession Not Ruled Out
With inflation at a 40-year high and an economy that is growing at a sluggish pace, concerns about a recession are real. But it may be avoided if consumer spending continues to persist and if more workers enter the labor force, according to a forecast released today by the Indiana University Kelley School of Business. Economists...