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Yomiuri Shimbun
a day ago
- Business
- Yomiuri Shimbun
Fast-fashion Retailer Shein's Transport Emissions Jump in 2024
LONDON (Reuters) — Shein's carbon emissions from transporting products climbed 13.7% in 2024, the online fast-fashion retailer's sustainability report showed on June 13, and its 2023 transport emissions were 18% higher than previously reported after a recalculation. Shein uses mainly air freight to send cheap clothes directly from suppliers in China to shoppers in 150 markets worldwide, a more carbon-intensive supply chain model compared with traditional apparel retailers that ship more of their products on container vessels. Shein said it planned to produce, package and ship closer to its customers as a way to lower emissions and cut delivery times and shipping costs. It increased its use of sea freight and trucking in 2024, according to the report. 'We do have localized places like Brazil, like Turkey … so all these things are in the works. Are we fast enough? Are we perfect? Of course not. There are a lot of things that we have to do,' Shein executive chairman Donald Tang said, speaking at the Viva Technology conference in Paris on June 13 after the report was published. Shein argues its business model allows it to produce according to demand and leaves it with less unsold inventory than traditional clothing retailers, minimizing waste. Founded in China and headquartered in Singapore, Shein sources most of its products from 7,000 suppliers in China, but also has a growing network of factories in Brazil and Turkey. Emissions from transporting products to and between Shein facilities, and to customers, including returns, were 8.52 million metric tons of CO2 equivalent in 2024, up from 7.49 million tons of CO2e in 2023, according to the report. Shein's transport emissions for 2024 are more than three times those of Zara owner Inditex, which reported 2.61 million tons of CO2e for its 2024 financial year, a 10% increase on 2023 as the Spanish firm also used more air freight. Shein said its 2023 emissions were recalculated after an update to its methodology. Last year it reported a 2023 figure of 6.35 million tons.
Yahoo
16-06-2025
- Business
- Yahoo
Nvidia stock jumps with record high in sight again
Nvidia (NVDA) stock jumped 2% Monday, putting the AI chip giant within striking distance of an all-time high after a furious turnaround over the past two months. The company continues to ride high on sales of its powerful AI chips to both hyperscalers and foreign countries seeking to build out their own sovereign AI systems. Shares closed at $144.69 each, about 3% off its record closing high. The latest jump comes after Nvidia held its GTC Paris event in the French capital last week. CEO Jensen Huang also attended the Viva Technology conference in the country. The company, which reported strong first quarter earnings in May, has been expanding into several spaces, including sovereign AI, which describes data centers funded, owned, or run by individual countries seeking to build out their AI capabilities. Nvidia took a starring role in President Trump's visit to the Middle East, where he struck deals with Saudi Arabia and the United Arab Emirates that will see the countries receive thousands of Nvidia AI chips. But the company is also dealing with the fallout from the Trump administration's ban on the sale of its chips to China. Nvidia reported a $4.5 billion hit during its most recent earnings announcement due to the ban and says it anticipates an additional $8 billion write-down in the current quarter. Despite that, the company beat on revenue expectations thanks to the sale of its latest Blackwell chips and related server equipment. Email Daniel Howley at dhowley@ Follow him on X/Twitter at @DanielHowley. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-06-2025
- Business
- Yahoo
Nvidia stock jumps with record high in sight again
Nvidia (NVDA) stock jumped 2% Monday, putting the AI chip giant within striking distance of an all-time high after a furious turnaround over the past two months. The company continues to ride high on sales of its powerful AI chips to both hyperscalers and foreign countries seeking to build out their own sovereign AI systems. Shares closed at $144.69 each, about 3% off its record closing high. The latest jump comes after Nvidia held its GTC Paris event in the French capital last week. CEO Jensen Huang also attended the Viva Technology conference in the country. The company, which reported strong first quarter earnings in May, has been expanding into several spaces, including sovereign AI, which describes data centers funded, owned, or run by individual countries seeking to build out their AI capabilities. Nvidia took a starring role in President Trump's visit to the Middle East, where he struck deals with Saudi Arabia and the United Arab Emirates that will see the countries receive thousands of Nvidia AI chips. But the company is also dealing with the fallout from the Trump administration's ban on the sale of its chips to China. Nvidia reported a $4.5 billion hit during its most recent earnings announcement due to the ban and says it anticipates an additional $8 billion write-down in the current quarter. Despite that, the company beat on revenue expectations thanks to the sale of its latest Blackwell chips and related server equipment. Email Daniel Howley at dhowley@ Follow him on X/Twitter at @DanielHowley. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-06-2025
- Business
- Yahoo
Nvidia stock closing in on all-time high
Shares of Nvidia (NVDA) were closing in on their all-time highs midday Monday. The company continues to ride high on sales of its powerful AI chips to both hyperscalers and foreign countries seeking to build out their own sovereign AI systems. Nvidia's stock price topped out at just over $145 as of 12:00 p.m. ET, just shy of its high of $149.43 posted on Jan. 1. The jump comes after Nvidia held its GTC Paris event in the French capital last week. CEO Jensen Huang also attended the Viva Technology conference in the country. The company, which reported strong first quarter earnings in May, has been expanding into several spaces, including sovereign AI, which describes data centers funded, owned, or run by individual countries seeking to build out their AI capabilities. Nvidia took a starring role in President Trump's visit to the Middle East, where he struck deals with Saudi Arabia and the United Arab Emirates that will see the countries receive thousands of Nvidia AI chips. But the company is also dealing with the fallout from the Trump administration's ban on the sale of its chips to China. Nvidia reported a $4.5 billion hit during its most recent earnings announcement due to the ban and says it anticipates an additional $8 billion write-down in the current quarter. Despite that, the company beat on revenue expectations thanks to the sale of its latest Blackwell chips and related server equipment. Email Daniel Howley at dhowley@ Follow him on X/Twitter at @DanielHowley. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
11-06-2025
- Business
- CNBC
France's Macron says U.S. and EU will find a 'good solution' on trade
French President Emmanuel Macron speaks to CNBC's Karen Tso at the Viva Technology conference in Paris on Wednesday.
