New story in Business from Time: Companies Are Losing Millions After #MeToo Allegations Like Kate Upton’s Claim Against Guess’ Paul Marciano

Hours after Kate Upton used Twitter Thursday to accuse Guess co-founder Paul Marciano of using his power to “sexually and emotionally harass women,” the company’s shares dropped almost 18%. Guess lost more than $250 million in market value in one day. Despite the company issuing […]

Apple gets two downgrades due to ‘dramatically’ slowing iPhone X demand

Wall Street analysts are retracting their bullish calls for Apple due to slowing iPhone sales. Apple reported weaker than expected December quarter iPhone unit sales on Thursday. The company also gave a lower than expected revenue forecast for the March quarter. KeyBanc Capital Markets lowered […]

Fashion subscription service Le Tote ventures into China’s competitive luxury retail market

China has already been one of the fastest-growing luxury retail markets in the world for years. As their spending power increases, consumers are becoming pickier, demanding premium brands at better prices, with better service. Now Le Tote, the fashion rental service backed by Andreessen Horowitz, […]

Alphabet is tumbling after a fourth quarter whiff and names John Hennessy as new board chair

Google parent company Alphabet’s big run over the past few months came to a screeching halt today after it came out with its fourth-quarter results, which fell beneath expectations set by Wall Street for the advertising giant — sending the stock down around 5 percent […]