The closure of the Delaware College of Art and Design has brought to light the challenges faced by many independent art and design schools. These challenges stem from a variety of factors, including declining enrollment, a shrinking pool of college-age students, rising costs, and issues with the Free Application for Federal Student Aid (FAFSA) form.
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Jim Chanos, a well-known short seller, has vehemently denied accusations of embezzling funds for personal use. In response to a lawsuit filed by Conlon Holdings, Chanos called the allegations “false, baseless and defamatory.” The lawsuit, filed in New York state court, claimed that Chanos used his firm, Chanos & Co., as a “piggy bank” and
Nissan has issued a serious warning to owners of older vehicles that are equipped with recalled Takata airbags. The National Highway Traffic Safety Administration (NHTSA) emphasized the urgency of the situation, urging owners to immediately stop driving these cars. The “Do Not Drive” alert specifically applies to 83,920 cars, including models such as the 2002-2006
Stellantis, the parent company of Jeep, has ambitious plans to introduce a $25,000 all-electric Jeep vehicle to the U.S. market in the near future. This move is aimed at appealing to mainstream consumers and accelerating the adoption of electric vehicles, which has been slower than expected. The CEO of Stellantis, Carlos Tavares, recently shared this
Abercrombie & Fitch shocked the retail world with its exceptional first-quarter performance, marking its strongest quarter in history. The company reported a remarkable 22% increase in sales compared to the previous year, with profits soaring nearly seven times higher than anticipated by Wall Street analysts. This unprecedented success has propelled Abercrombie & Fitch as a
Clean Energy Ventures has recently raised $305 million for their second fund, showcasing a growing appetite for companies focused on decarbonization in private markets. The oversubscribed fund, with an initial target of $200 million, attracted interest from limited partners like The Grantham Foundation, Builders Vision, and Carbon Equity, leading to a higher raise than anticipated.
Cathie Wood’s ARK Invest has been making waves in the investment world with its strategic bets on disruptive technologies. One such area of focus is artificial intelligence, and recently, ARK Venture Fund has taken a stake in Elon Musk’s startup xAI. This move signifies Wood’s deepening interest in AI innovation and the potential it holds
Recently, there has been a noticeable increase in mortgage rates after a brief period of decline in May. The average contract interest rate for 30-year fixed-rate mortgages rose to 7.05% from 7.01%. While this may seem like a small adjustment, it had an immediate effect on mortgage demand in the market. Rates had dropped to
Dick’s Sporting Goods has reported a significant increase in sales and earnings compared to analyst expectations. The big-box sports retailer experienced a 5.3% growth in comparable sales during its fiscal first quarter, surpassing the 2.4% growth forecasted by analysts. This growth was attributed to a rise in transactions and higher average ticket values, indicating that
The International Monetary Fund recently announced an upgrade to China’s growth forecast for the year 2021, raising it to 5% from the previous 4.6%. This adjustment is attributed to the “strong” first quarter figures and recent policy measures implemented by the Chinese government. The IMF also anticipates further growth in the coming years, with a
