Afternoon Coffee: VF Corp Doubles Down on Responsible Sourcing, Takata Pleads Guilty in Airbag Case Stock

The company that makes Wrangler jeans and Timberland boots is adopting new sourcing policies to eliminate products that contribute to deforestation and human rights violations, Reuters reports. VF said it aims to eliminate sources of products that contribute to the loss of ancient and endangered forests or rights taken from indigenous people and local communities. The initiative affects sourcing of fabrics and of paper, particularly that is used in packaging.

Takata to Pay $1 Billion in Penalties

Automotive supplier Takata pleaded guilty to criminal wrongdoing after providing misleading testing reports to automakers about its airbags, the Wall Street Journal reports. Now the company will pay $1 billion in penalties while automakers recall 42 million vehicles with nearly 70 million Takata airbags — and that’s just in the U.S.

Singularity Approaches: Mark Your Calendar

Softbank Robotics CEO Masayoshi Son predicted earlier this week that artificial intelligence will exceed human intelligence by 2047, according to Inverse. This milestone, known as the singularity, would means that in 30 years a single computer chip would have an IQ of 10,000.

Trade Gap

And finally, another update on trade: The U.S. trade deficit for goods widened in January, as Americans snapped up consumer goods made abroad, MarketWatch writes. Imports of consumer goods jumped 4.8% in January and climbed 7.8% over 12 months.

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