Adidas has pledged to use only recycled plastics, including polyester, by 2024. Huffington Post reports the company will stop using newly manufactured plastic this year. Polyester makes up about 50 percent of the material in Adidas’ products. The inexpensive material is made from plastic and has sweat-resistant properties. The switch will save an estimated 40 tons of plastic annually Starbucks and American Airlines both announced last week that they are cutting down on plastic straws.
Jason Merrit/Getty Papa John's has booted founder John Schnatter out of its office in the wake of reports that he used a racial slur during a conference call in May. Schnatter, formerly CEO of the company,admitted to using the N-word during the call and apologized last week. Schnatter has resigned as chairman and has been scrubbed from the company's marketing materials. "News reports attributing the use of inappropriate and hurtful language to me during a media training session regarding race are true," Schnatter said in a statement. In a statement released to the press on Sunday, the company announced that it had launched a special committee to deal with the fallout.
(Reuters) - Bank of America Corp (BAC.N) reported quarterly profit above Wall Street expectations as the second-largest U.S. lender kept a tight leash on expenses and benefited from growth in loans and deposits. Total loans increased 2 percent, with the bank’s consumer banking and wealth management businesses both recording growth of about 7 percent. Speaking at a conference in May, the bank’s head of global corporate banking said the pipeline of new loans was better than it was in 2017, but that it was too soon to predict lending demand for the year.
The New York Times is reporting, this week, Goldman Sachs will announce David Solomon to replace CEO Lloyd Blankfein. Yahoo Seana Smith, Andy Serwer, Julia La Roche and Dan Howley discuss.
The FANG stocks, which include Facebook, Amazon, Netflix and Google’s parent Alphabet have led the technology and consumer discretionary sectors back to record high levels in recent days. Reuters reports that one of the big performers in the quartet of the so-called FANG stocks that have fueled the market’s gains in recent years, Netflix has surged 106.2 percent year-to-date, leading the S&P 500 and making it one of Wall Street’s most closely-watched stocks.