How Duracell is Helping Relief Effort in Puerto Rico
Duracell's "PowerForward" initiative is working to help relief efforts in Puerto Rico after it was devastated by Hurricane Maria. Alfonso Arteaga, Senior Brand Manager at the company, explains how Duracell is providing internet access to those in need. Arteaga was living in Puerto Rico with his family when the hurricane hit the island in September.
Many areas in Puerto Rico remain without power three months after Hurricane Maria devastated the island. The U.S. Army Corps of Engineers said it could take until May to complete restoration of Puerto Rico's power grid. In less than one month after the hurricane hit the island, Duracell airlifted two trucks with 100 tons of battery for those in need.
Since this initiative began, Duracell has distributed more than $1 million worth of batteries, making this the program's largest deployment since PowerForward began in 2011. "It makes us realize we are not forgotten," said Arteaga who has since relocated from Puerto Rico to Connecticut.
Kevin Hochman, president of KFC in the United States, joined Cheddar News to discuss the company's nationwide launch of plant-based chicken in collaboration with Beyond Meat. With the rise of healthier options and people committing to new dieting regimens at the top of the new year, Hochman said it was the perfect time to launch its plant-based chicken.
Markets closed the day mixed, and well off their lows of the day following a market meltdown earlier in the session. The Nasdaq staged a comeback late in the day, even amid ongoing worries about the Federal Reserve raising interest rates. Doug Flynn, certified financial planner and co-founder of Flynn Zito Capito, joined Cheddar News' Closing Bell to discuss the markets' close and what's driving the major indexes.
Two companies recently announced a new partnership aimed at addressing the growing demand to borrow against crypto - digital assets capital markets firm CrossTower is partnering with commercial bank, BankProv. The companies are launching a crypto lending platform that will allow Bitcoin miners to receive loans to invest in crypto mining equipment. The companies say the program also addresses the difficulty of breaking into crypto mining due to the high cost. CrossTower research analyst Martin Gaspar joins Cheddar News' Closing Bell to discuss.
Next-gen social sports platform Break the Love recently raised $2.5 million in seed funding. Break the Love's platform and iOS app allows users to discover and book group-based tennis activities, to either learn, train, or compete. The new company has already gotten support from a few big names in the world of tennis, including the coach of Naomi Osaka, as well as the United States Tennis Association and the brand Wilson. Break the Love founder and CEO Trisha Goyal joins Cheddar News' Closing Bell to discuss.