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Bloomberg
6 minutes ago
- Bloomberg
Thune Believes Senate Has Votes to Pass Trump Tax Bill
Senate Majority Leader John Thune believes there is enough Republican support of President Donald Trump's tax and spending bill and said his chamber will soon vote on passage of the legislation. Kailey Leinz reports on Bloomberg Television. (Source: Bloomberg)
New York Post
6 minutes ago
- New York Post
Lululemon sues Costco over alleged sale of 'dupes' copying $128 pants
Athletic apparel giant Lululemon is suing Costco for allegedly selling cheap 'dupes' of its pricey pants and sweatshirts. In a lawsuit filed Friday in California, Lululemon alleges Costco has 'unlawfully traded' on the brand's 'reputation, goodwill and sweat equity by selling unauthorized and unlicensed apparel employing knockoff, infringing versions' of its products. Lululemon, for example, sells its popular ABC men's pants for $128 – and alleges that a pair of Costco pants that retail for just $10 rip off their design. Advertisement Leggings and yoga pants on display in a Lululemon store in New York. Bloomberg via Getty Images Its Scuba hoodies sell for $118, while Costco's private label Kirkland Signature sells copycat sweatshirts for $8, the company alleged in the suit. 'As an innovation-led company that invests significantly in the research, development and design of our products, we take the responsibility of protecting and enforcing our intellectual property rights very seriously and pursue the appropriate legal action when necessary,' Lululemon told The Post in a statement. The Vancouver-based company is accusing Costco of leading customers to believe that these dupes, slang for duplicates, 'are in fact manufactured by the authentic supplier of the 'original' products.' Advertisement Lululemon and Costco did not immediately respond to The Post's requests for comment. Lululemon claimed it sent the Washington-based big box retailer a letter in November 2024 accusing it of selling hoodies using the Scuba design. Costco 'subsequently removed at least some of the products that infringed lululemon's SCUBA,' but later started selling similar products, according to the lawsuit. Advertisement The retailer is still selling the alleged dupes today, Lululemon said in the suit. Clothing folded on tables at a Costco store in New Jersey. Bloomberg via Getty Images The luxury leggings maker is seeking to 'fully recover' financial losses through unspecified damages and a court order to block Costco from selling the products. Lululemon has gone after alleged copycats in the past, suing stationary bike giant Peloton in 2021 for allegedly selling apparel using similar designs. Advertisement That suit was settled in 2022, and the companies announced a five-year partnership the following year to sell co-branded clothing. Lululemon recently slashed its full-year forecast, citing a 'dynamic macroenvironment' with added costs from tariffs, low demand amid economic uncertainty and heated competition from other athletic brands. Shares of Lululemon jumped 2.2% Tuesday. The stock is down 36% so far this year.
Yahoo
7 minutes ago
- Yahoo
Senators to Vote on Trump's Tax Bill After Deal, Thune Says
(Bloomberg) -- Senate Majority Leader John Thune said his chamber will soon vote on passage of President Donald Trump's tax and spending bill after securing enough support to pass the legislation. Struggling Downtowns Are Looking to Lure New Crowds Philadelphia Transit System Votes to Cut Service by 45%, Hike Fares Sprawl Is Still Not the Answer 'I believe we do' have enough votes to pass the bill, Thune said. 'But like I've said I'm of Scandinavian heritage so I've always been a realist so we will see what happens.' The Senate worked through the night on Trump's $3.3 trillion tax and spending package, with Republican leaders still negotiating Tuesday morning with key GOP holdouts. Thune did not specify what changes were made to the bill to convince holdouts to support the measure. 'I hear we're doing well,' Trump told reporters upon arriving in Florida Tuesday. 'I think it's going to be the greatest bill ever passed.' Alaska Republican Lisa Murkowski, a moderate concerned about Medicaid and green energy cuts, appeared to be the central focus of SEnate leaders' attention early Tuesday. Throughout the negotiations in recent days, there have been eight major Republican holdouts. Thune can afford to lose only three senators and still pass the measure. Two — Rand Paul of Kentucky and Thom Tillis of North Carolina — have said they are solidly against it, leaving very little room for error as the South Dakota Republican tries to get to 50 votes on the package. Senate aides huddled on the chamber floor Tuesday morning going line-by-line through last-minute revisions to the bill. Murkowski, whose efforts to protect her home state from Medicaid cuts were rejected by the Senate ruleskeeper, had meetings both on and off the Senate floor throughout the night. She would not divulge early Tuesday whether she'd support the bill. 'The sun is up, I'm going to go have a cup of coffee,' Murkowski told reporters. Murkowski had backed an effort to soften an aggressive planned phase-out of subsidies for wind and solar projects under Trump's tax-and-spending package. The amendment sponsored by Republican Joni Ernst of Iowa would also do away with a proposed new excise tax the Senate bill would slap on wind and solar projects that use components from China and other 'foreign entities of concern.' Ernst, carrying donuts through the Capitol on Tuesday morning, said she didn't think her amendment would ultimately get a vote. The change would risk displeasing fiscal conservatives who have insisted on the more stringent requirements to qualify for the tax credits. 'I don't think they're going to let us' bring up the amendment, she told reporters. 'There's a lot of stuff that went on over night, that kind of waylaid a lot of our plans.' Another moderate holdout, Susan Collins of Maine, said she still has 'reservations' about the bill after the Senate all-nighter. Democrats, angered by the Medicaid cuts in the bill, voted to defeat a Collins amendment that would have doubled the rural hospital fund in the bill to $50 billion, in exchange for a tax increase on some of the highest-earning Americans. As leaders continue to twist arms on the bill itself, they also need to ensure they have enough votes on a final 'wraparound' amendment tweaking the legislation ahead of a vote on final passage. Republican aides workshopped that amendment with the parliamentarian to determine whether changes adhere to the chamber's rules to pass the bill along party lines. Part of the calculus for Senate leaders is to strip language that could threaten the bill's odds in the House, which is planning to vote on the Senate measure later this week. The House's own version of the bill passed by a single vote. The Senate's deeper Medicaid cuts will put pressure on swing-district Republicans, while Freedom Caucus hardliners are angry that the Senate bill would contribute to larger deficits than the House-passed measure. At least one New York Republican — Representative Nick LaLota — has said he'd vote against the bill over a compromise on the state and local tax deduction that he says doesn't do enough to deliver savings to his district. LaLota had supported the House measure. Yet so far, unlike in 2017, Trump has been able to corral his party at the end, with only a few willing to buck the pressure to vote for his signature legislation. --With assistance from Chris Cioffi, Jamie Tarabay and Ken Tran. (Adds Trump remark in the fifth paragraph) America's Top Consumer-Sentiment Economist Is Worried How to Steal a House SNAP Cuts in Big Tax Bill Will Hit a Lot of Trump Voters Too China's Homegrown Jewelry Superstar Pistachios Are Everywhere Right Now, Not Just in Dubai Chocolate ©2025 Bloomberg L.P. Sign in to access your portfolio
