Friday, 25 Sep 2020

Pinterest to announce new board member as employees stage virtual walkout over gender, racial discrimination claims

Stock Alert: Ebang International Rises 24% On Forming Singapore Subsidiary

Shares of Ebang International Holdings Inc. (EBON), a China-based manufacturer of Bitcoin mining machines and telecommunication products, are rising more than 24 percent or $1.17 in Friday’s morning trade at $5.91.

Friday, Ebang International said it has established a wholly-owned subsidiary in Singapore in preparation for establishing a cryptocurrency exchange. The company plans to seek the relevant governmental approval and license to operate the cryptocurrency exchange and related business.

Ebang International has traded in a range of $3.80 to $8.00 in the past 52 weeks.

Impossible Foods raises another $200M as burger demand soars

Plant-based burger maker Impossible Foods is beefing up its coffers — again.

The Silicon Valley based company just raised $200 million — and that’s on top of the $500 million it raised in March — as demand for its veggie burgers increases and it rushes to expand its manufacturing capabilities.

Its latest funding round was led by hedge fund Coatue along with existing investors Mirae Asset Global Investments and Temasek, valuing the privately held company at more than $4 billion, according to reports.

Impossible Foods has raised $1.5 billion, counting among its investors Jay-Z and Katy Perry among its investors, since it was founded in 2011.

Impossible Foods is now in some 2,000 Walmart stores among thousands of other supermarkets, including Kroger and restaurant chains like Starbucks and Burger King, which has been selling an Impossible Whopper.

“The overall theme here is about unprecedented demand for our products,” chief financial officer David Lee told MarketWatch. “There are great signs that our product is being accepted by meat eaters, who are voting with their stomachs.”

Demand soared during the pandemic when beef was in short supply this spring due to work stoppages at some of the largest slaughter houses. 

It’s publicly held rival, Beyond Meat, has been on a tear as well.

The plant-based company reported revenue growth 69 percent to $113.3 million in its second quarter ended June 27.

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U.S. Seizes Four Tankers Carrying Iranian Oil to Venezuela

The U.S. seized four tankers carrying Iranian oil bound for Venezuela in violation of sanctions, the Justice Department announced.

The four tankers were carrying 1.116 million barrels of petroleum, which is now in U.S. custody after help from “foreign partners,” according to a statement Friday from the department.

“These actions represent the government’s largest-ever seizure of fuel shipments from Iran,” according to the statement, which said the shipment was undertaken by the Islamic Revolutionary Guard Corps.

The four ships were the M/T Bella, M/T Bering, M/T Pandi and M/T Luna. The Wall Street Journal reported that the ships are being directed toward Houston in the coming days.

RTD suspended L Line operations Friday morning

RTD suspended L Line operations Friday morning because of Denver Fire Department activity.

The alert, issued around 8:30 a.m., did not say what kind of fire activity is happening or where it is.

Trains are holding at the 20th/Welton Station, RTD said on its website. The line is closed until further notice.

— RTD (@RideRTD) August 14, 2020

Donald Trump’s Brother Robert Hospitalized In New York

President Donald Trump’s younger brother, Robert Trump, is hospitalized in New York.

White House press secretary Kayleigh McEnany confirmed the news to ABC News. The outlet described Robert’s condition as “very ill.”

Donald Trump is expected to visit his brother Friday ― he was already scheduled to spend time at his nearby country club in New Jersey.

Donald and Robert are reportedly quite close. A senior administration official told CNN “his brother is very special to him.”

Robert Trump, 72, spent more than a week at Mount Sinai hospital’s neurosciences intensive care unit in June, The Daily Beast reported at the time.

Two days after he was discharged he sued his niece, Mary Trump, in an attempt to stop the publication of her tell-all book on the Trump family.

“I and the rest of my entire family are so proud of my wonderful brother, the president, and feel that Mary’s actions are truly a disgrace,” Robert Trump said in a statement at the time.

In addition to Robert, the President has three other siblings, including the late Fred Trump, Jr.

This is a breaking news story. Check back for updates.

RELATED…


Pinterest to announce new board member as employees stage virtual walkout over gender, racial discrimination claims

  • Pinterest said it is planning to announce a new board member as its employees mobilize a protest against gender and racial discrimination at the company.
  • Theboard member announcement comes days after former Pinterest chief operating officer Francoise Brougher brought a lawsuit against the company for gender discrimination.
  • Pinterest employees have organized a virtual protest scheduled to take place on Friday.

Pinterest on Friday said it is planning to announce a new board member as its employees mobilize a protest against gender and racial discrimination at the company.

"We can confirm a board announcement is coming soon, but have no further details to share at this time," a company spokeswoman told CNBC. 

Bloomberg was first to report the upcoming board member announcement. 

The board member announcement comes days after former Pinterest chief operating officer Francoise Brougher brought a lawsuit against the company for gender discrimination. Brougher also published a 4,000-word blog post in which she described a discriminatory, misogynistic and hostile work environment at the company. 

Pinterest employees have organized a virtual walkout scheduled to take place on Friday. Employees will sign off from work early in protest of the gender and racial discrimination at the company, according to a website and a petition for the protest.

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