IlluMyFi

Boss of bicycle maker says discounting after Covid boom means ‘sad state of affairs’ in global market is likely to go on

The boss of Brompton Bicycle has predicted that 2025 will be another year of turmoil for the bike industry after profits at the British folding bicycle maker dived by more than 99% amid a wave of discounting by rivals.

Profits fell from £10.7m to £4,602 in the year to the end of March 2024 – less than the cost of Brompton’s top-of-the-range T Line Explore bike – as riders sought cheaper options during a cost of living squeeze.

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-0.59

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04.01.25 07:09

by theguardian.com

Asian American woman sues PayPal for racial bias in investment program

Nisha Desai is part of growing conservative push to curtail diversity, equity and inclusion initiatives in corporate US

PayPal has been sued by an Asian American businesswoman who accused the digital payments company of racial bias for restricting part of a $535m investment program to Black and Hispanic applicants, costing her millions of dollars.

Thursday’s complaint by Nisha Desai and her New York-based venture capital firm Andav Capital is part of a growing push among some conservatives to curtail diversity, equity and inclusion initiatives in corporate America.

United States of America