Forever 21, the fast fashion clothing chain anchoring shopping malls across the United States, filed for bankruptcy protection on Sunday, reporting more than $1 billion in liabilities. The New York Times reported that the company would end its operations in 40 countries, including Canada and Japan, and could close as many as 350 of its more than 800 stores worldwide.
Shares of Peloton Interactive Inc, the fitness startup known for on-demand workout programs on its exercise bikes, slid as much as 7% in their market debut on Thursday, indicating that investors are becoming increasingly skeptical of money-losing startups. The New York-based company’s shares opened at $27.00, down from its initial public offering price of $29.00 that raised about $1.16 billion at a valuation of $8.1 billion.
Bulgarian economist Kristalina Georgieva was confirmed on Wednesday as managing director of the International Monetary Fund, the IMF said, becoming the first person from an emerging economy to head the global lender. A center-right politician who grew up in Bulgaria under communism, Georgieva has built a reputation during her time at the World Bank as a tenacious straight-shooter and leader in the global fight against climate change.
British prime minister Boris Johnson has called for the immediate release of Nazanin Zaghari-Ratcliffe and other dual nationals imprisoned in Iran during a meeting with Iran’s President Hassan Rouhani in New York, a Downing Street spokesperson said in a statement. Johnson also “raised our deep concern about Iran’s destabilizing activity in the region, including the attacks on the Aramco oil facilities, and insisted this must stop,” the spokesperson said.
Graphic photos of the bloodied victims of what appear to be gunshot wounds have emerged after another day of violence in West Papua, which has seen at least 26 people killed and 70 injured. Four people were killed, including a military officer, and several others injured when Indonesian security forces opened fire on students following a protest about racism at a university in Jayapura on Monday.
More than 1,000 United Nations employees have called for the global body to reduce its carbon footprint, including through curbs on their own diplomatic perks like business-class flights and travel handouts, a letter obtained by Reuters showed. The United Nations calls climate change the “defining issue of our time” and is hosting a New York summit on it next week.
New Zealand will reprise its starring role as Middle Earth with confirmation Amazon Studios will film its new Lord of the Rings television series on its shores. The country – where Sir Peter Jackson filmed the original Lord of the Rings and Hobbit movies – beat rival Scotland to be named the production location for the series, set to be the most expensive TV show ever made.
National Security Agency whistleblower Edward Snowden has appealed to France’s government to grant him asylum so he can avoid prosecution in the United States. “Protecting whistleblowers is not a hostile act,” he said, in an appeal to French President Emmanuel Macron. “Welcoming someone like me is not an attack on the United States.” Presently, Snowden lives in Russia, where he has been able to safely avoid prosecution in the U.S.
Australian intelligence determined China was responsible for a cyber-attack on its national parliament and three largest political parties before the general election in May, five people with direct knowledge of the matter told Reuters. Australia’s cyber intelligence agency – the Australian Signals Directorate (ASD) – concluded in March that China’s Ministry of State Security was responsible for the attack.
US doctors are hoping to start offering women vaginal fluid transplants and have set up a program to screen potential donors. They believe some women could benefit from a dose of healthy vaginal microbes to protect against an infection called bacterial vaginosis (BV). The Johns Hopkins University team say they were inspired by the success of fecal or poo transplants.