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‘Nike Refurbished’ To Help Reduce Its Waste Footprint
Nike Inc. (NKE) has launched Nike Refurbished, a program to refurbish sneakers and put them back on sale with lower price tags. The program is an attempt by the sports footwear and apparel giant to reduce consumer waste and its negative impact on the environment.
The Beaverton, Oregon-based company said it would tidy up a shoe which is returned and categorize them under three categories– like-new, gently worn, and cosmetically flawed. The company will resell them at “a great value for consumers” at certain Nike stores. To qualify for refurbishment, a shopper needs to return a pair of shoes to Nike stores within 60 days of purchase.
Nike said its team uses a number of different products and tools to return shoes to as close to new condition as possible. Once the shoes land back in a Nike store, the price is based on footwear type and condition grade. Nike Refurbished footwear is also covered by Nike’s 60-day wear test.
Nike Refurbished will be available at launch in up to 15 U.S. Nike stores. The company plans to extend the refurbishing initiative to other markets as well.
Refurbishing returned sneakers will reduce a significant amount of landfill waste and save environment.
New York Fed's Williams: Fed has tools to deal with high inflation
NEW YORK, April 14 (Reuters) – Inflation could be volatile in the near term as the economy recovers from the pandemic but price increases should remain subdued and the Federal Reserve knows how to act if inflation gets too high, New York Fed President John Williams said on Wednesday.
Williams expects inflation overall to stay near the Fed’s 2% target, he said during a virtual conversation with Rutgers University students. He also noted that unemployment is still high and the economy still has a long ways to go as it recovers.
Father 'hit woman pregnant with his baby and beat her puppy to death'
Biden unveils Afghanistan troop withdrawal plan from the same room where Bush announced the war in 2001
- Biden on Wednesday unveiled his plans to withdraw US forces from Afghanistan.
- He spoke from the same room that then-President George W. Bush used to announce the start of the war.
- Both sets of remarks were given nearly 20 years apart.
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President Joe Biden on Wednesday unveiled his plans to withdraw US troops from Afghanistan, addressing the nation from the same room where then-President George W. Bush announced the start of the war in 2001
“It is time to end America’s longest war,” Biden said from the Treaty Room in the White House, nearly 20 years after Bush spoke against the same backdrop. “It is time for American troops to come home.”
Bush carried out the first US airstrikes in Afghanistan on October 7, just weeks after the terror attacks on September 11, 2001.
Biden announced on Wednesday his administration’s framework to end the US’s military mission in the country and establish a diplomatic presence.
Oil Futures Close Sharply Higher On Inventory Data, IEA Demand Forecast
Crude oil futures ended sharply higher on Wednesday, buoyed by an upward revision in global oil demand forecast by the International Energy Agency (IEA).
Data showing a sharp drop in U.S. crude inventories in the week ended April 9 contributed as well to oil’s uptick.
West Texas Intermediate Crude oil futures for May ended up by $2.97 or about 4.9% at $63.15 a barrel, the highest settlement in about four weeks.
Brent crude oil futures were up $2.73 or 4.28% at $66.40 a barrel a little while ago.
The IEA has sharply raised its world oil demand estimate for 2021, pointing to further signs that the global economy is recovering faster than previously expected, particularly in the US and China. The agency expects oil demand to grow 230,000 barrels a day faster than previously forecast.
World oil demand is now expected to expand by 5.7 million b/d in 2021 to 96.7 million b/d, following a collapse of 8.7 million b/d last year, the IEA said.
Data released by Energy Information Administration (EIA) showed crude oil inventories in the U.S. dropped by 5.9 million barrels last week, compared with an expected draw of about 3.5 million barrels.
Gasoline inventories rose 300,00 barrels last week, while distillate stockpiles dropped by 2.1 million barrels.
The American Petroleum Institute (API) reported late Tuesday that crude oil stockpiles in the U.S. dropped by 3.6 million barrels last week.
Joe Biden Announces Plans To Withdraw Troops From Afghanistan By Sept. 11
President Joe Biden announced a withdrawal of U.S. troops from Afghanistan by Sept. 11, bringing an end involvement in a conflict that has stretched almost two decades.
“I’ve concluded that it’s time to end America’s longest war,” Biden said. “It’s time for our troops to come home.”
Biden noted that he inherited a diplomatic agreement made by Donald Trump’s administration with the Taliban that all U.S. forces would be out by May 1. Biden said that instead, the withdrawal would begin on that date and would “not conduct a hasty rush to the exit.”
“We will not take our eyes off the terrorist threat,” Biden said, vowing to reorganize counterterrorism capabilities to prevent the reemergence of terrorism.
Biden said that he spoke on Tuesday with former President George W. Bush about his decision. “While he and I have had many disagreements over policy throughout the years, we are absolutely united in our respect and support for the valor, courage and integrity of the women and men in the United States armed forces who served,” Biden said.
He also said that the U.S. would continue to support the Afghan government.