Aussie anti-plastic company Phantm raises $2m and eyes global expansion
The seed round was led by Blacknova VC, Salus Ventures and CoVentures. Phantm works Starbucks Australia and MECCA to replace plastic with sustainable alternatives.
Investing
Adidas could write off value of unsold Yeezy stock – worth $500 million
Chief executive Bjorn Gulden said the scenario is “financially the worst case.”
Nike claims New Balance and Skechers stole technology for sustainable shoes in new lawsuit
Nike claims New Balance and Skechers stole its Flyknit technology, a fiber used to make shoes lightweight and supportive while being sustainable.
TikTok is about to stop paying creators for videos under 60 seconds
TikTok will discontinue its US$1 billion (AU$1.6 billion) Creator Fund, which launched in 2020 in a bid to incentivise creators onto the platform, from the 16th of December.
WeWork shares halted amid reports of bankruptcy
Shares for the office-sharing company have fallen nearly 99% this year.
Get ready for a Melbourne Cup day rate rise
Get ready for a Melbourne Cup-day rate rise was the consensus opinion from an economics panel at the Forbes Business summit in Sydney.
Beauty giant Estée Lauder’s stock crashes 19% to 6-year low—Heirs lose nearly $3 billion
The five billionaire Lauder heirs correspondingly lost a combined $2.9 billion Wednesday.
WeWork stock plummets 50% after impending bankruptcy reports
WeWork, a company once valued at $47 billion, now sells for around $1.12 per share at a market capitalization of $59 million.
Forget ‘crushing it,’ startup founders open up about mental health problems
From therapy and peer groups to vulnerability and psychedelic drugs, entrepreneurs open up about their strategies for dealing with mental health challenges.
Alphabet Earnings: Google parent stock slides despite profit, sales beats
Alphabet brought in a robust $59.6 billion in ad revenue last quarter but Wall Street soured on weaker than anticipated profits in the company’s cloud business.