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OpenAI raises 110 billion dollars in record funding round

OpenAI announced Friday a massive $110 billion funding round valuing the ChatGPT maker at $730 billion, with SoftBank, Nvidia and Amazon each making multi-billion-dollar commitments as the artificial intelligence company races to meet surging global demand. The investment round - one of the largest in Silicon Valley history - includes $30...

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Ebay to cut 800 roles across global workforce to realign structure with goals

Marketplace giant Ebay has said it is slashing around 800 roles across the business, representing 6 percent of its global workforce. The platform confirmed the news in a statement shared with various media outlets, including WSJ, to which it said: “We are taking steps to reinvest across our business and align our structure with our strategic...

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EU-Mercosur trade deal to take effect despite legal hurdles

The free trade agreement between the EU and the South American Mercosur bloc will soon move into provisional application, despite an ongoing review by the European Court of Justice (ECJ). European Commission President Ursula von der Leyen announced the move in Brussels following ratification by Uruguay and Argentina on Thursday. Provisional...

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Textile Exchange continues to rollout membership model with Action Cohort pathway

On the back of its pivot to a membership model, Textile Exchange has now outlined a new Action Cohort to run alongside its Community Cohort, this time with a focus on standardising progress reporting for brands, retailers, and raw material producers. This new cohort is structured around a three-step pathway that the organisation’s chief...

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The RealReal achieves record 2 billion dollar GMV amid luxury resale surge

The US-based luxury resale platform The RealReal reported a transformative fiscal year ended December 31, 2025, surpassing the 2.13 billion dollar mark in gross merchandise value (GMV). This represents a 16 percent increase compared to the previous year, while total annual revenue rose 15 percent to 693 million dollars. Rati Levesque, the...

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Back on the podium: Puma's strategy for a top-tier comeback

In 2025, Puma recorded the highest net loss in its corporate history. The Herzogenaurach-based sporting goods manufacturer is in the midst of a profound strategic shift. This shift is painful in the short term but is intended to enable a return to the top tier in the long run. During a press call on Thursday, CFO Markus Neubrand confirmed the...

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Fashion group SMCP returns to profit in 2025

Paris - Following a significant loss in 2024 and years of shareholder turmoil, the French ready-to-wear group SMCP (Sandro, Maje, Claudie Pierlot and Fursac) generated a net profit of 16.6 million euros (19.62 million dollars) in 2025, it announced on Thursday. “It’s starting to get a little brighter,” said Isabelle Guichot, the group’s chief...

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Young French designers struggle amid financial instability and skills shortages

On the eve of Paris Fashion Week, several young French designers — including Mossi, Jeanne Friot, Pierre-François Valette, Phileo Landowski and Steven Passaro — spoke at La Caserne to discuss the difficulties they face in their business. Precarious economic conditions, competitive imbalances, inadequate training and a shortage of technical...

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Warby Parker reaches profitability milestone while navigating quarterly earnings miss

The US-based eyewear brand Warby Parker has reported its financial results for the fourth quarter and full fiscal year ended December 31, 2025, achieving its first full year of positive net income. Total annual revenue reached 871.90 million dollars, representing a 13 percent increase compared to the previous year. However, the fourth quarter...

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Wolverine Worldwide's strategic initiatives drive margin improvement in FY25

The US-based footwear group Wolverine Worldwide reported financial results for the fourth quarter and full fiscal year 2025, which ended January 3, 2026. The company exceeded its forecast across all key metrics for the final quarter, supported by global growth in its primary brands and continued improvements in the direct-to-consumer (D2C)...

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Gildan doubles scale with HanesBrands acquisition and record quarter

The Montreal-based apparel manufacturer Gildan Activewear has reported record fourth-quarter net sales from continuing operations of 1.08 billion dollars, representing a 31.3 percent increase over the prior year. This performance was significantly bolstered by the completion of the HanesBrands acquisition on December 1, 2025, which added 217...

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How useful are grievance mechanisms for garment workers? Insights from Bangladesh’s Amader Kotha helpline

After the Rana Plaza building collapse on 24th April 2013 in Savar near Dhaka in Bangladesh, two initiatives emerged that were tasked with improving situations in the country’s ready-made garment (RMG) sector: the Bangladesh Accord on Fire and Building Safety (Accord) and the Bangladesh Alliance for Worker Safety (Alliance). The loss of more...