Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business.
If the only thing you know about sports is who wins and who loses, you are missing the highest stakes action of all. The business owners that power this multibillion dollar industry are changing, and a new era of the business of sports is underway. From media and technology to finance and real estate, leagues and teams across the globe have matured into far more than just back page entertainment. And the decisions they make have huge consequences, not just for the bottom line, but for communities, cities, even entire countries.
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Clothes displayed at the Shein Tokyo showroom in Tokyo, Japan. Shein opened its first physical storefront in 2022.
Photographer: Noriko Hayashi/Bloomberg
Sheridan Prasso and
Three US senators have written to the chief executive officer of Shein, China’s largest private online retailer, demanding information on whether the fast-fashion company sources cotton tied to forced labor.
In a letter dated Thursday, Republican Bill Cassidy of Louisiana and Democrats Elizabeth Warren of Massachusetts and Sheldon Whitehouse of Rhode Island sought details about the company’s procurement process and its links to Xinjiang, a region of China whose products are banned for import into the US by federal law. That law designates goods from the region to be products of forced labor — a designation the Chinese government has disputed. The letter requested a response within 30 days.