Apparel maker Patagonia stops buying Ovis 21 wool after PETA video

The footage published on Thursday by People for the Ethical Treatment of Animals (PETA) showed the cruel treatment at farms which supplied the Ventura, California-based company with merino wool used in its base layers and insulation. Patagonia’s Chief Executive Officer Rose Marcario said in a statement the company was shocked by the video, and they were dismayed to witness such “horrifying” mistreatment.

Read more

Liberty Interactive to buy online retailer Zulily in $2.4 billion deal

Liberty Interactive Corp , which owns home shopping network QVC, said it would acquire Zulily Inc in a deal valued at $2.4 billion to tap into the online retailer's younger clientele and its strong mobile presence. Chinese e-commerce giant Alibaba Group Holding Ltd owns a stake of about 9 percent in the company. Billionaire John Malone-backed Liberty will combine the five-year old Zulily with its QVC business, which is about 30 years old and seen by analysts as a maturing business in the United States

Read more