Sboll is Your Go-to Source for the Latest Finance News, Covering Markets, Banking, Investments, Economy and Stocks.
⎯ 《 Sboll • Com 》
American Airlines cuts adjusted profit forecast for third quarter
American Airlines cuts adjusted profit forecast for third quarter
American Airlines Group on Wednesday cut its third-quarter adjusted profit forecast, to account for higher fuel costs and
2023-09-13 19:57
PIF-Backed Medical Procurement Firm Nupco Plans Saudi IPO
PIF-Backed Medical Procurement Firm Nupco Plans Saudi IPO
Saudi Arabia’s sovereign wealth fund is exploring an initial public offering of the kingdom’s largest medical procurement firm,
2023-10-23 16:46
A Twitter user found that some airline phone numbers on Google Maps link to scammers
A Twitter user found that some airline phone numbers on Google Maps link to scammers
Google is working to fix false contact information for some major airlines on Google Maps after a Twitter user found a phone number actually connected callers to scammers.
2023-07-19 04:49
Marketmind: Canadian cloud, rates markets checked
Marketmind: Canadian cloud, rates markets checked
A look at the day ahead in U.S. and global markets from Mike Dolan Wildfire smoke wasn't the only cloud
2023-06-08 18:18
China says its economy is 'resilient', rejects Western concerns
China says its economy is 'resilient', rejects Western concerns
BEIJING China's economy is resilient and has not collapsed, the Chinese foreign ministry said on Tuesday, rejecting claims
2023-09-12 17:16
Fed coming up snake eyes in its battle with spend-happy consumers
Fed coming up snake eyes in its battle with spend-happy consumers
By Howard Schneider DANVILLE, Virginia The new Caesars casino in Danville, Virginia, is a temporary facility reminiscent of
2023-08-24 18:27
'RHOC' Season 17: Meet Jennifer's ex-husband William Pedranti who sold his biotech company for $70M
'RHOC' Season 17: Meet Jennifer's ex-husband William Pedranti who sold his biotech company for $70M
William and Jennifer Pedranti who were married for over 18 years before filing for divorce have six children together
2023-06-08 07:15
Popular Otome Game Obey Me! & US’s Top-Class Online Manga Store MangaPlaza to Exhibit at Anime Expo 2023
Popular Otome Game Obey Me! & US’s Top-Class Online Manga Store MangaPlaza to Exhibit at Anime Expo 2023
OSAKA, Japan--(BUSINESS WIRE)--Jun 19, 2023--
2023-06-19 20:19
Prime Day Is Back This July 11 & 12, With Big Savings, New Amazon-Exclusive Deals, and Celebrity Product Launches
Prime Day Is Back This July 11 & 12, With Big Savings, New Amazon-Exclusive Deals, and Celebrity Product Launches
SEATTLE--(BUSINESS WIRE)--Jun 21, 2023--
2023-06-21 13:28
ECB's Holzmann leaning towards September rate hike
ECB's Holzmann leaning towards September rate hike
The European Central Bank may need to raise interest rates further, Austrian central bank chief Robert Holzmann said
2023-08-31 18:21
Fast fashion retailer Shein accused of racketeering and copyright infringement in lawsuit
Fast fashion retailer Shein accused of racketeering and copyright infringement in lawsuit
Fast fashion retailer Shein has been accused by independent designers of infringement-related racketeering activities in a new lawsuit. According to The Fashion Law, a lawsuit was filed on Tuesday (11 July) in California federal court that accused the clothing giant of using a “secretive algorithm” to identify trending art and allegedly reproducing the independent designs for its fast fashion website. The three independent artists suing Shein – Krista Perry, Larissa Martinez, and Jay Baron – claimed both Shein and its parent company, Zoetop Business Company, Ltd, engaged in “produc[ing], distribut[ing], and selling exact copies of their creative works,” which they allege is “part and parcel of Shein’s ‘design’ process and organizational DNA.” In the suit, Perry, Martinez and Baron claim Shein replicated “truly exact copies of [their] copyrightable graphic designs” such as Berry’s artwork titled “Make It Fun” and Blintz’s “Orange Daises” design. Barron’s “Trying My Best” artwork, which they claim was also copied by Shein, is not only a registered copyright but the phrase was also trademarked by Barron. As a result, the plaintiffs argue that they “have suffered and will continue to suffer substantial damage” to their businesses and “a diminishment in the value of their designs and art, their rights, and their reputations”. In the complaint, the plaintiffs allege that Shein created a “secretive algorithm” to identify growing fashion trends and “produce very small quantities of [its] item for sale” – as 100-200 units per SKU – in the case that an artist claims “the design was stolen”. “The brand has made billions by creating a secretive algorithm that astonishingly determines nascent fashion trends – and by coupling it with a corporate structure, including production and fulfillment schemes, that are perfectly executed to grease the wheels of the algorithm, including its unsavory and illegal aspects,” the artists argue in the suit. “When Shein copies a small or independent designer, the most likely outcome (without brand protection specialists and specialized software on the lookout) is that the infringement will go unnoticed,” the complaint reads. The lawsuit named Chris Xu as the maker behind the algorithm, a “mysterious tech genius” who has allegedly made Shein “the world’s top clothing company through high technology, not high design.” While Shein has faced many lawsuits in recent years, the newest complaint is notable for its Racketeer Influenced and Corrupt Organizations Act (RICO) claim. RICO is a federal law designed to combat organized crime in the United States, and individuals or organisations can use the RICO Act to file civil claims against racketeering activities performed as an ongoing criminal enterprise. Another requirement to file a RICO claim is that the offending party is not just an individual or business but a criminal organization, as the suit claims Shein’s alleged infringement activity is “committed not by a single entity, but by a de-facto association of entities.” The plaintiffs claim that Shein’s “confusing corporate structure” allows the company to “avoid liability” in the case of intellectual property infringement, adding that the brand’s “first line of defense” when facing a copyright or trademark cease and desist is “removing the product from its sites with blaming the misconduct on another [Shein entity] actor (implying such actor is independent).” As a result, the artists have accused Shein of “multiple acts of racketeering and criminal copyright infringement” and are seeking past and future damages, as well as compensation for legal fees and injunctive relief to “prevent further racketeering activity”. This is not the first time Shein has faced accusations of infringement. In May, artist Maggie Stephenson settled with Shein for an undisclosed amount after she filed a $100 million lawsuit last year. That same month, Italian fashion designer Giuliano Calza claimed the retailer stole shoe designs from his streetwear label, GCDS. The new lawsuit comes after a Shein-sponsored influencer trip made headlines for promoting Shein’s factory in Guangzhou, China. The influencers were invited to tour Shein’s “innovation factory”, as they posted videos showing a clean, brightly lit factory with automated bots assisting in processing and packaging orders. However, the influencer trip faced backlash as many pointed out the fast fashion company’s accusations of labour abuse and its negative impact on the environment. The Independent has contacted Shein for comment. Read More Italian designer launches scathing attack on Shein over ‘stolen ideas’: ‘Maybe I am the fool’ Influencers face backlash for promoting Shein factory during PR trip in China Parent company of fast-fashion brand Shein to pay New York state $1.9m for data breach Shein accused of racketeering and copyright infringement in lawsuit Barbie premiere: All the best pink carpet looks as Margot Robbie film shows in London Why these women are – and aren’t – shaving their armpits this summer
2023-07-14 13:52
Sam Bankman-Fried wants his case thrown out of court
Sam Bankman-Fried wants his case thrown out of court
Lawyers for FTX founder Sam Bankman-Fried on Monday filed motions to dismiss the US government's fraud charges against him.
2023-05-09 11:55