Cheddar Afternoon Business Report: Alphabet, J.Crew, fidget spinnersPosted: Updated:
Alphabet is delivering on its promise to bring Internet back to Puerto Rico. The company is flying helium balloons over the island to bring LTE connectivity back. So far 100,000 of the island's 3.5 million residents have gotten Internet back.
J.Crew wanted to be bought by Amazon, according to chairman Mickey Drexler. Drexler told the New York Times he approached Amazon about a potential deal and said his company would give Amazon a "machine of style and taste in fashion." Meanwhile, Amazon is reportedly launching its own private label athleisure line.
A public interest group says unsafe amounts of lead were found in Fidget Wild Premium Spinners sold at Target. The toy is still on shelves in stores and the companies insist the product is safe.
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- American Airlines is cutting international flights by 60% this summer as travel demand continues to slow.
- Apple has acquired popular weather app Dark Sky,
- State attorneys general will meet with the Justice Department to investigate possible monopolistic practices of Google.
- Mercedes-Benz is recalling nearly 745,000 vehicles across the U.S. due to faulty sunroofs.