Top Nike Exec Resigns, Robinhood Reportedly Secures $5.6 Valuation
A top Nike executive is stepping down over misconduct allegations. Brand president Trevor Edwards will resign from his position immediately but will stay on with the company through August. It was not immediately clear what sort of misconduct Edwards had engaged in. Nike sent an internal memo to employees saying it had received reports of behavior that was not in line with the company values of inclusivity, respect, and empowerment. Edwards, who's been with the company since 1992, was seen as a potential successor to the current CEO Mark Parker.
The popular stock trading app Robinhood is reportedly now worth $5.6 billion. According to a Wall Street Journal report, the company just get a new funding round of around $350 million from Russia's DST Global. That would make Robinhood worth $5.6 billion dollars, four times the amount its previous valuation of $1.3 billion. The app was introduced just three years ago and currently has 4 million users.
Payments are restarting for student loan borrowers but the FTC is warning about in increased risk of getting scammed. Leslie Tayne, founder of Tayne Law Group, joined Cheddar News to provide tips on how to avoid scams amid confusion over payment plans and restarting dates.
Roadway deaths in the U.S. are mounting despite government test data showing vehicles have been getting safer. While the number of all car-related fatalities has trended upward over the last decade, pedestrians and cyclists have seen the sharpest rise: over 60% between 2011 and 2022.
