Business

Nine days ago, Terraform Labs founder Do Kwon shared a plan to revive the Terra Ecosystem after its stablecoin UST and cryptocurrency LUNA nosedived earlier this month, bringing down the crypto markets with them. Today, Terra’s plan has passed and been approved by the community. “Terra 2.0 is coming,” Terra’s official Twitter account tweeted on Wednesday. “With overwhelming support, the Terra ecosystem has voted to pass Proposal 1623, calling for the genesis of a new blockchain and the preservation of our community.” The proposal will effectively create a new layer-1 Terra blockchain without its algorithmic stablecoin. The old blockchain will be called Terra Classic (LUNC) and the new blockchain will be called Terra (LUNA), the company tweeted. The Luna token is new and should not be ...

Some workers delivering packages for Amazon were more than twice as likely to be injured on the job compared to non-Amazon delivery workers, according to a report from the Strategic Organizing Center (SOC) advocacy group (via CNBC). The union coalition compiled data submitted to the Occupational Safety and Health Administration (OSHA) by Amazon and its contractors and discovered that an estimated 18.3 percent of Amazon’s subcontracted delivery workers were injured seriously enough to be reported. As the report notes, Amazon deliveries aren’t made entirely by workers that the company directly employs. The SOC says that a large portion of packages are delivered by people working for a Delivery Service Partner (DSP), or a company that contracts with Amazon to make deliveries in a certain a...

Engineers at Northwestern University in Evanston, Illinois, invented the world's smallest remote-controlled walking robot, according to research published in the journal Science Robotics. Each one is about half a millimeter wide, which is smaller than the thickness of a United States penny. It took a year and a half to create the miniscule metal creatures, said coauthor John A. Rogers, the Louis Simpson and Kimberly Querrey Professor of Materials Science and Engineering at Northwestern University. His team was comprised of students across varying academic levels who combined critical- and creative-thinking skills to design robots that looked like crabs as well as other animals like inchworms and crickets, he said.Some students found the sideways motion of crabs to be amusing, which was th...

Amazon’s brick-and-mortar clothing store, Amazon Style, is now open in the Los Angeles, California-area at The Americana at Brand mall, the company announced today along with a video profiling some of its employees. It’s a new addition to Amazon’s lineup of physical locations, along with Whole Foods and its cashier-less Amazon Go and Amazon Fresh grocery stores. Amazon Style will feature clothing from brands like Levi’s, Tommy Hilfiger, Champion, and more, and though it does not feature Amazon’s Just Walk Out technology, it will have regular employees present to help you from start to finish. Rumors of Amazon’s “department store” plan surfaced in September, with a Wall Street Journal report suggesting that the store would use tech solutions to focus on customer convenience with stores ...

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Shares of Snowflake Inc. tumbled in after-hours trading Wednesday after the software company delivered a forecast for the current quarter that came in below expectations at the midpoint and acknowledged that some customers have consumed less than expected due to macroeconomic factors. The company posted a fiscal first-quarter net loss of $166 million, or 53 cents a share, whereas it recorded a net loss of $203 million, or 70 cents a share, in the year-prior quarter. Analysts tracked by FactSet had been expecting the company to lose 52 cents a share on a GAAP basis. Revenue climbed to $422 million from $229 million a year before, while analysts had been expecting $414 million. The company reported $394 million in product revenue, whereas analysts wer...

Bolt, the fast-growing online payments start-up that was valued at $11 billion earlier this year but recently instituted a hiring freeze as the wider market wobbled, began laying people off on Wednesday.In a message to employees that was also posted on Bolt’s website, Maju Kuruvilla, the chief executive, attributed the layoffs to “structural changes” amid “macro challenges,” but did not provide further details.“The leadership team and I have made the decision to secure our financial position, extend our runway, and reach profitability with the money we have already raised,” Mr. Kuruvilla wrote.The San Francisco-based company, which builds software to simplify the checkout process for merchants and shoppers, was already facing challenges, including a lawsuit filed late last year by one of i...

It’s FTC 101. Companies can’t tell consumers they will use their personal information for one purpose and then use it for another. But according to the FTC, that’s the kind of digital bait-and-switch Twitter pulled on unsuspecting consumers. Twitter asked users for personal information for the express purpose of securing their accounts, but then also used it to serve targeted ads for Twitter’s financial benefit. It wasn’t Twitter’s first alleged violation of the FTC Act, but this one will cost the company $150 million in civil penalties. The story starts with the FTC’s 2010 complaint against Twitter. In that case, Twitter told users that users could control who had access to their tweets and that their private messages could be viewed only by recipients. But according to the FTC, Twitter ...

Macy’s has long been a one-stop-shop for pretty much everything: It’s a great place to stock up on clothes for the family, as well as homewares, skincare, shoes and more. The retailer has just kicked off its Memorial Day 2022 sale with great deals on all of the above, including 30% off Levi’s for him, 50% off dresses (just in time for your summer slate of weddings), up to 40% off COACH, 50% off select Le Creuset and Vitamix and deals on Ninja, Braun and more. On top of that, there are also a ton of beauty deals going on at the moment as part of Macy’s 10 Days of Glam event. Some deals even get better with 15% off using the code MEMDAY. Plus, when you spend $25 or more and order by noon, you’ll receive free same-day delivery on your ord...