Ms Rajt dismissed the necessity of real fur saying: ‘They actually do have some faux fur trim products and there’s a market for that. There’s no reason why they couldn’t switch completely.’A spokesperson for Canada Goose said: ‘We understand PETA’s concerns and we respect the right of people to choose not to wear fur, however, we know PETA does not respect our ethical, responsible use of fur so further conversation won’t be productive.’But Ms Rajt insisted: ‘I just don’t believe that half the people wearing these coats understand what’s really involved in the making of them. And I just don’t believe that they would make that same choice if it was an informed one.’Here is what you need to know.Janet Yellen made an unsettling admission about the economy.The Fed raised its benchmark interest rate 25 basis points to a range of 0.75% to 1.00% at Wednesday’s meeting, making for the third rate hike since the financial crisis. However, in her accompanying press conference, Yellen noted, “The data have not notably strengthened.”
The Dutch election deals a blow to populism. Prime minister Mark Rutte’s ruling People’s Party for Freedom and Democracy is projected to win 33 seats in Wednesday’s election, 13 more than populist leader Geert Wilders.Japan kept policy on hold. In a 7-2 vote, the Bank of Japan held its key rate at -0.1% and pledged to target a 10-year Japanese government bond yield of 0%. “With regard to the outlook, Japan’s economy is likely to turn to a moderate expansion,” the BOJ said in its statement.Oil’s bounce continues. West Texas Intermediate crude oil trades up 1% at $49.32 per barrel after data released by the International Energy Agency on Wednesday showed US crude stockpiles fell for the first time in 10 weeks. Oil gained more than 2% on Wednesday.Tesla is raising cash. The automaker announced it will raise $1.15 billion mostly through the sale of common stock ($250 million) and convertible senior notes ($750 million). Tesla CEO Elon Musk will also buy more shares.
Oracle’s cloud business had a huge quarter. The business software maker announced better than expected adjusted revenue and profit, helped by sales at its cloud business surging 62 percent to $1.19 billion, Reuters reports.GoPro announces more layoffs. The action camera maker announced it is eliminating 270 jobs in what is the second round of layoffs in three months.”We now expect to deliver revenue in the upper end of our guidance range of between $190 million and $210 million,” CEO Nick Woodman said in a statement.Canada Goose prices its IPO. The winter apparel maker known for its coyote fur lined coats priced its initial public offering at C$17 ($12.78) per share, above the C$14-C$16 range that Wall Street was expecting. Shares will trade under the ticker “GOOS.”