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The parent company for Gap and Banana Republic announced Friday that they would close more than 225 stores globally to "further advance its long-term strategic priority of a smaller healthier fleet."The closures are expected to occur this year with more stores closing in 2021, Gap Inc. said in its earnings report.According to the New York Post, many of the stores closing are located in malls.Also stated in its earnings report, the company closed 25 Old Navy's, 87 Gap's, 50 Banana Republic's, two Athleta's, one Intermix, and eight Janie and Jack stores in the quarter ending Aug. 1.Aug. 1 had 3,814 stores worldwide, which is 100 fewer stores that they had on Feb. 1, which was 3,919.Due to them temporarily closing their stores due to COVID-19, the company stated that they began the quarter with an 18% decline in net sales. 839
The popular video-sharing app TikTok, its future in limbo since President Donald Trump tried to shut it down earlier this fall, is asking a federal court to intervene. TikTok’s Chinese owner, ByteDance, has until Thursday to sell off its U.S. operations under an executive order that Trump signed in August. Trump in September gave his tentative blessing to a ByteDance proposal that would place TikTok under the oversight of American companies Oracle and Walmart. But TikTok said this week it’s received “no clarity” from the U.S. government about whether its proposals have been accepted.ByteDance is now asking the U.S. Court of Appeals to review the actions of the Trump administration's Committee on Foreign Investment in the United States (CFIUS), who is overseeing the sale.“For a year, TikTok has actively engaged with CFIUS in good faith to address its national security concerns, even as we disagree with its assessment,” TikTok says in a statement to The Verge. “In the nearly two months since the President gave his preliminary approval to our proposal to satisfy those concerns, we have offered detailed solutions to finalize that agreement – but have received no substantive feedback on our extensive data privacy and security framework.”“Facing continual new requests and no clarity on whether our proposed solutions would be accepted, we requested the 30-day extension that is expressly permitted in the August 14 order. Today, with the November 12 CFIUS deadline imminent and without an extension in hand, we have no choice but to file a petition in court to defend our rights and those of our more than 1,500 employees in the US. We remain committed to working with the Administration — as we have all along — to resolve the issues it has raised, but our legal challenge today is a protection to ensure these discussions can take place.” 1863
The pandemic has turned even more people into gamers. About one in three people worldwide play video games, according to the Entertainment Software Association.But it’s more than just fun.“And we've been able to make sure that we were producing things that not only brought people together in ways that made them enjoy the games, but connected them to each other because today 65% of people in America who play games play with other people,” said Stanley Pierre-Louis, President and CEO of the Entertainment Software Association.Video game popularity was already on the rise before COVID-19, supporting more than 425,000 jobs directly and indirectly related to the industry last year.It generated more than 90 billion in economic output, according to the Entertainment Software Association impact report.It includes jobs in engineering, coding, video game design, storyline and even professional players.“What that's meant is that within schools, you now have esports scholarships and in fact there are over 200 varsity sports programs around the nation, creating new opportunities for people to play professionally,” said Pierre-Louis.Education and jobs related to gaming can also lead to other opportunities outside the industry. The graphic design and visual elements that go into video games are as in demand in other fields.“So, if you learn video game design, you're able to also help with airlines simulations and so it's creating opportunities across many sectors,” said Pierre-Louis.Advancements rooted in the video game industry have found their way into other areas, including medical imaging and robotics, military training and simulation, and education.Those directly employed by the video game industry make on average 1,000 a year. 1757
The Mid-American Conference announced on Saturday that it would be canceling the fall season for all sports due to COVID-19 concerns. They become the first league competing at college football's Division I level to cancel their fall season over Covid-19 concerns. The Council of Presidents unanimously voted to cancel the fall season, citing the health and safety of the student athletes, coaches and communities as its top priority.With the MAC’s 12 schools facing a significant financial burden by trying to maintain costly coronavirus protocols, the conference’s university presidents made the decision to explore a spring season for football.MAC schools rely heavily on revenue from playing road games against power conference teams. Most of the power conference football games were canceled when other conferences went to exclusively or mostly in-conference games. Without the out-of-conference games, the strain of trying to implement all that it would take to keep players and staff safe during a pandemic became too much.Football isn't the only sport being canceled. All fall sports in the MAC, including men's and women's cross country, field hockey, men's soccer, women's soccer and women's volleyball, will not be played this season.Kent State University sent a message to its student's athletes regarding the MAC's decision to cancel fall sports this season, stating that all student athletes who receive a scholarship will get to keep it and that the school is reaching out to the NCAA to request an additional year of eligibility for those who would like it.Nine of 13 conferences at Division I’s second-tier of football, the Championship Subdivision, have already postponed their fall football seasons, with an eye toward making them up in the spring.The MAC has not announced a decision for winter sports at this time.The conference is working to plan for the 2021 spring semester and said it will continue to consult with its Medical Advisory Panel and will monitor COVID-19 developments as it makes its decision. 2038
The House Intelligence Committee on Saturday released a Democratic memo in redacted form that seeks to undercut Republican claims of FBI surveillance abuses.The committee made the Democratic memo public after the White House signed off following negotiations between the FBI and the committee's top Democrat, Rep. Adam Schiff of California, over what in the document should be redacted.Earlier this month, the White House objected to releasing the memo, saying that sensitive material had to be removed first. 523