H&M and Lululemon back fund to cut fashion supply chain’s carbon emissions
June 8, 2022
H&M Group and Lululemon Athletica are among a group of backers of a $250 million fund to cut carbon emissions in the fashion industry’s supply chain. The non-profit Apparel Impact Institute’s Fashion Climate Fund is also looking to raise $2 billion to scale solutions. “The urgency to address the climate issues has never been more acute. Early-stage innovations and new solutions play a critical role, but the impact does not happen before they can be scaled, and the industry starts adopting and implementing them,” said the H&M Foundation’s Christiane Dolva.
Recent News
Saudi Aramco Launches $12 Billion Secondary Share Sale
Saudi Aramco, the world’s largest oil company by daily crude production and market capitalization, launched a substantial secondary public offering on Sunday, aiming to raise around $12 billion. This move comes as part of the Saudi Aramco’s strategy to generate additional funds, following its record-breaking initial public offering in 2019, which raised $29.4 billion by selling 1.5% of the company.
Nvidia Unveils Cutting-Edge AI Chips to Assert Market Dominance
Nvidia has once again made headlines with the announcement of its next generation of artificial intelligence processors. At the Computex conference in Taipei, CEO Jensen Huang unveiled the “Rubin” processors, a successor to the “Blackwell” chips for data centers that were announced in March. This surprise reveal comes even before the Blackwell chips have begun shipping to customers, signaling Nvidia’s aggressive strategy to dominate the AI processor market.
Rubio’s Coastal Grill Shutters 13 San Diego Locations
Rubio’s Coastal Grill has announced the closure of 13 locations in San Diego by the end of Friday. The closures are part of a broader strategy to address the rising operational costs in California.
Boeing’s First Astronaut Flight Postponed Due to Last-Minute Computer Glitch
In a turn of events, Boeing’s highly anticipated first astronaut flight was called off at the last minute due to a computer glitch. This setback adds to a series of delays that have plagued the program over the years. The launch, which was scheduled to take place at Cape Canaveral Space Force Station, was intended to send NASA astronauts Butch Wilmore and Suni Williams to space aboard Boeing’s Starliner capsule.