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Silicon Valley Is Losing Its Luster With Millennials

PYMNTS

Silicon Valley is losing its luster with young adults, as recent polling shows millennials are gearing up to leave the San Francisco area at an increased rate. s move last year when it announced it was leaving San Francisco for Denver, which is also growing. Reuters pointed to VF Corp.’s

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Williams-Sonoma Tops Q4 Forecasts, Announces Leadership Changes

PYMNTS

The San Francisco–based company, which is known for selling cookware and home furnishings , posted revenue of $1.58 The company also announced some leadership changes that will take place within its Pottery Barn Brands. The retailer said it had profit of $1.63 per share and earnings of $1.55 million, or $3.41

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DoorDash, mRelief Pair On Food Stamps For Low-Wage Workers

PYMNTS

Startup mRelief, which helps low-income workers access food stamps, is teaming up with food delivery startup DoorDash to offer DoorDash credit to people eligible for food stamps in San Francisco, according to a report in TechCrunch. Last year, the startup debuted an end-to-end process to aid food stamp enrollment in San Francisco.

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Banking news roundup

American Banker

Five Star Bancorp expands into San Francisco, American Express to integrate with data aggregators Plaid and Yodlee, Bank of America reworks leadership in its investment banking unit and more in this week's banking news roundup.

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Farfetch Raises $250M To Grow Luxury Fashion Platform

PYMNTS

Tencent is a global technology company based in Shenzhen, China, and Dragoneer is an investment firm based in San Francisco. Farfetch, a luxury technology platform, has raised $250 million from Tencent and Dragoneer through the sale of convertible senior notes, according to a release.

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Lyft Lays Off 982 Employees, Furloughs 288, Cuts Exec Pay

PYMNTS

Lyft, the San Francisco-based ridesharing company, has laid off 17 percent of its workforce and imposed salary reductions for executives for three months, CNBC reported. The company said it will lay off 982 employees and furlough an additional 288 to trim operating costs due to the COVID-19 pandemic. At 12:30 p.m.,

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Lawsuit Targets WeWork For Lost Value After Pulled IPO

PYMNTS

In a proposed class action filed in San Francisco Superior Court, the lawsuit seeks to recoup losses following WeWork’s failed initial public offering (IPO). Former WeWork employee Natalie Sojka of San Francisco alleges in the Nov. The botched IPO caused WeWork’s value to drop over 87 percent.