deal

Kanye West and Gap agree to a multi-year deal for Yeezy line

Kanye West and Gap (GPS) have agreed to a multi-year deal to create a clothing line for the entertainer’s famed Yeezy line.

The line will consist of hoodies, T-shirts, and joggers and is slated to be sold at Gap retail locations sometime in 2021.

West once worked at a Gap store in the Chicago area, according to Reuters.

“We are excited to welcome Kanye back to the Gap family,” said Mark Breitbard, the Gap brand global head.

Earlier on Friday, West tweeted an image leading some to speculate what the new collection could look like.

The Yeezy footwear line has often been credited with bolstering German apparel maker Adidas. (ADDYY). The brand has not only been lucrative for Adidas but West himself. In April, it was reported that the Grammy Award-winning entertainer had become a billionaire largely off of the brand he created.  

Gap has been a brand in trouble,

Read More

NYC begins road to recovery as AstraZeneca, Gilead deal talk swirls

New York City, once a global epicenter of the coronavirus outbreak, began reopening Monday after 100 days under strict restrictions to help flatten the COVID-19 curve, even as infection rates across other regions continue to climb.

Worldwide, the outbreak has now infected over 7 million people, with the death toll crossing 400,000 over the weekend. Diagnoses continue to climb in the U.S., which has now recorded over 2 million cases and 110,000 casualties.

Once the hardest hit region in the U.S., the Big Apple has turned a corner after grappling with overflowing hospitals at the infection’s peak back in April. With continually declining hospitalizations and daily positive rates across the state, the city is entering the first phase of reopening, which will see some industries get back to work, while retailers will be open for curbside or in-store pickups.

Subway ridership has also begun to recover after a steep plunge

Read More

Zoom in ‘early stages’ of security deal with Google: CFO

Zoom (ZM) is phoning a friend.

The video-conferencing platform is in the “early stages” of inking a deal with Google to boost the security of its popular platform, Zoom CFO Kelly Steckelberg said on Yahoo Finance’s The First Trade. “We will have more to talk about that in the future.”

It was reported earlier this week by The Information that Zoom was in talks with Google’s cloud division for a security deal.

The potential deal is the latest effort by Zoom to quiet concerns on the privacy of its platform.

The explosion in the use of Zoom amid the coronavirus pandemic has exposed privacy issues. Zoom bombing — where hackers inexplicably jump into a Zoom call — have increased in frequency in recent months of heightened consumer and business use.

FILE – In this April 23, 2020 file photo, members of the Vermont House of Representatives convene in a Zoom

Read More

Why launching astronauts to space via SpaceX’s crew capsule is a big deal

The first astronaut spaceflight from U.S. soil in almost a decade is ready for liftoff this Wednesday.

“Human space flight is a big deal,” Chad Anderson, managing partner at Space Capital tells Yahoo Finance. “It is probably one of the most exciting parts of the [space] sector.”

The launch is a huge deal for SpaceX, the private company founded by Elon Musk, contracted by NASA to carry astronauts on the Crew Dragon spacecraft to the International Space Station. The historic liftoff atop a Flacon 9 rocket is a long time coming — with a bit of a storyline of David and Goliath.

“SpaceX 10 years ago was the underdog,” said Anderson, whose Space Angels portfolio includes SpaceX.

“They were fighting tooth and nail to get NASA contracts, to get security contracts, get the defense and community and government agencies to trust them enough to give them contracts.”

This week’s mission,

Read More

How we’ll deal with the mushrooming national debt

Congress has appropriated more than $3 trillion in coronavirus relief spending so far, as businesses shut down nationwide and millions of workers lose their jobs. More stimulus money is probably on the way.

That’s all borrowed money, and it’s pushing American’s national debt to uncharted levels. The federal deficit this year is headed to $3.7 trillion, according to the Congressional Budget Office. That’s more than twice as large as the next worst annual deficit, in 2009. The total amount of outstanding federal debt has soared from 79% of GDP in 2019 to 101% this year, and will hit 108% next year, CBO says.

“We had a budget situation that was unsustainable prior to the pandemic,” Douglas Holtz-Eakin, president of the American Action Forum, says in the latest episode of the Yahoo Finance Electionomics podcast. “We’re going to come out of and look at a situation that is dramatically

Read More