Macy's, Inc. has agreed to stop selling fur in its Macy's and Bloomingdale's stores by the end of the 2020 fiscal year, according to a press release from the Humane Society of the United States Monday.
What they're saying: "We have been closely following consumer and brand trends, listening to our customers and researching alternatives to fur," Jeff Gennette, chairman and CEO of Macy’s, Inc., said in a statement. "We’ve listened to our colleagues. ... Macy’s private brands are already fur free so expanding this practice across all Macy’s, Inc. is the natural next step."
The social media app TikTok has banned around two dozen accounts for pushing Islamic State, or ISIS, propaganda, the Wall Street Journal reports.
The big picture: The Chinese app, whose appeal has skyrocketed in popularity among young people, is populated largely by short dance videos, pranks, musical covers and other lighthearted content. Just as many companies have begun using the platform as a way to connect with younger consumers, ISIS has evidently seen an opportunity too.
TikTok overtook YouTube and Instagram in U.S. downloads last year, and news organizations are now trying to cash in on its audience. Dan digs in with Dave Jorgenson, who runs the Washington Post's TikTok channel.
As the 2020 election inches closer, Republicans continue to enjoy the digital edge they seized in 2016.
Why it matters: Online ad spending offers President Trump an efficient way to target sympathetic voters with fundraising pitches and barrage them with inflammatory messages on issues ranging from immigration to impeachment.
The lifespans of companies on the S&P 500 are expected to continually decrease to the point that time spent on the index could drop by five years on average in 2030 compared to 2019, research from QAD finds.
The state of play: The reduced time period is largely due to increased disruption, analysts say. A previous study from Innosight projected that nearly 50% of the current S&P 500 would be replaced over the next decade.
A growing number of market analysts are voicing concerns that the repo market shock in September may have been the first signal of a wide-ranging liquidity shortage, and now those warnings are being echoed by the heads of major banks.
The state of play: "Despite the fact that bank balance sheets are quite strong, I think you’ll see more moments like this going forward," Ron O'Hanley, president and CEO of State Street, said during the Institute of International Finance's annual membership meeting on Saturday.
As part of a trend of increased corporate activism, JPMorgan Chase will announce Monday a new public policy agenda that includes an expanded effort to help people with criminal backgrounds re-enter the workforce.
Why it matters: JPMorgan Chase Chairman and CEO Jamie Dimonsaid providing second chances helps businesses "reduce recidivism, hire talented workers, and strengthen the economy."
President Trump's unpredictability is "hurting" trade and his dispute with China is "going to give a big haircut" to the world economy, incoming European Central Bank president Christine Lagarde told CBS News' "60 Minutes" Sunday.
"The biggest key that President Trump has is in relation to predictability and, and certainty of the terms of trade. It's the unknown which is hurting, because you can't adjust to the unknown. So what do you do? You build buffers. You build savings. You wonder what comes next. That's not propitious to economic development. ... The United States is at risk of losing leadership."
— Lagarde to CBS News' "60 Minutes"
The big picture: The IMF, which Lagarde led until September, said last week it expects the world economy to grow 3% this year — the weakest pace since the 2008 global financial crisis. The IMF pointed to the U.S.-China trade war as being the biggest factor. It forecast the dispute would cost 0.8% in global GDP losses this year.
Acting White House Chief of Staff Mick Mulvaney said on "Fox News Sunday" that reporters misinterpreted comments he made on Oct. 17 about President Trump conditioning $400 million in aid to Ukraine on its government opening political investigations.
