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Tag: Fix

Citigroup fined $400 million by regulators, agrees to fix ‘longstanding deficiencies’

October 8, 2020
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Sources tell FOX Business’ Charlie Gasparino that incoming Citigroup CEO Jane Fraser gets high marks from employees for past work at the firm.

WASHINGTON (Reuters) – Citigroup Inc C.N agreed to pay a $400 million penalty and draw up a sweeping remediation plan after U.S. regulators identified “several longstanding deficiencies” and operational lapses, U.S. regulators said on Wednesday.

The Federal Reserve and Office of the Comptroller of the Currency said that the bank required “comprehensive corrective actions” and must overhaul its risk management, data governance and internal controls across the company.

The Fed said the action “requires the firm to correct several longstanding deficiencies.”

“For several years, the Bank has failed to implement and maintain an enterprisewide risk management and compliance risk management program, internal controls, or a data governance program commensurate with the Bank’s size, complexity, and risk profile,” the OCC said in its consent order.

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Amazon’s expansion of its personal styling service is not an automatic death sentence for Stitch Fix

October 5, 2020
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a man sitting at a desk: Amazon expanded its Personal Shopper by Prime Wardrobe service to include men's clothing. Amazon


© Amazon
Amazon expanded its Personal Shopper by Prime Wardrobe service to include men’s clothing. Amazon

  • Amazon announced an expansion to its Personal Shopper by Prime Wardrobe service, leading many to wonder about the impact it will have on Stitch Fix. 
  • “Obviously, whenever Amazon does anything in retail, we all pay really close attention, and apparel has been a strategic focus of theirs for a long time,” Ed Yruma, managing director at KeyBanc Capital Markets, told Business Insider. 
  • But analysts said that Stitch Fix is still well-positioned to benefit from the wave of bankruptcies that have plagued retail this year, among other factors.
  • Visit Business Insider’s homepage for more stories.

Last week, Amazon expanded its Personal Shopper by Prime Wardrobe offerings to include men’s clothing. 

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For $4.99 a month, members receive shipments of clothing that are curated based on their style and fit preferences. Personal Shopper was first

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The Guardian view on Boohoo and fast fashion: no quick fix

October 4, 2020
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For anyone hoping that bad publicity surrounding Boohoo, the online clothes retailer, over recent months, would harm its business, last week’s figures came as a disappointment. Pre-tax profits at the group, founded in 2006 by Carol Kane and Mahmud Kamani, jumped 51% to £68.1m in the six months to 31 August. Sales surged to £816.5m. Without talking to Boohoo’s customers, it would be rash to draw conclusions about why reports of appalling labour practices by the company’s suppliers in Leicester have not changed their shopping habits. What can be safely assumed is that people aiming for improvements cannot leave it to consumers to drive them.



graphical user interface, website: Photograph: Bloomberg/Getty Images


© Provided by The Guardian
Photograph: Bloomberg/Getty Images

This should not come as a surprise. Fair and ethical trading initiatives are important. Over time it is to be hoped that more people, including the 16-30 age range targeted by Boohoo, will become more curious about

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Entrepreneurs Can Help Fix the Unemployment Crisis for Disabled Communities

October 3, 2020
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Over the past two weeks I’ve spent time with two individuals who represent the largest minority group in the United States: Americans with disabilities. The first, Ric Nelson, is a 37-year-old entrepreneur in Anchorage Alaska. Nelson has cerebral palsy and requires full-time assistance to manage his physical needs. Nelson is academically brilliant and highly energized to advance the interests of the disabled. He graduated in the top 10 percent of his high school class and, against high odds, used the scholarship he obtained to secure associate’s and bachelor’s degrees in Small Business Management and Business Administration. Most recently, he completed a master’s degree in Public Administration. 



a person sitting at a table using a laptop


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Nelson serves on multiple boards and after eight years of service became chair of the Governor’s Council on Disabilities and Special Education (GCDSE) for Alaska, where he is currently employed as Employment Program Coordinator. I learned from my discussion

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Stitch Fix Falls as Amazon Expands Personal Shopping to Men

September 29, 2020
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| personal

Stitch Fix  (SFIX) – Get Report shares fell Tuesday after Amazon.com expanded its personal shopping platform to include men’s fashion.

Stitch Fix recently traded at $27.07, down 1.56%. The stock has risen 5% year to date.

Amazon’s move is a direct shot across the bow at Stitch Fix, a titan in the online personal shopping arena. Amazon’s service is available on mobile devices only for U.S. Prime customers. It’s called Personal Shopper by Prime Wardrobe, and was introduced for women’s fashion in July 2019.

Customers pay $4.99 a month, and in exchange will receive a parcel every month of up to eight items. The package includes personalized clothes meant to meet their style and budget tastes listed in an introductory survey.

Shipping is free, and customers have a seven-day window for returns.

Stitch Fix’s pricing model is a $20 styling fee whenever a customer asks for a new

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