Real estate in the metaverse is now a thing — and it ain’t cheap: The unlikely venture seems to be taking off, with a plot of virtual land selling this week for a record USD 2.43 mn (the equivalent of 618k of the crypto mania), reported Reuters. The buyers of the land, Metaverse Group, are the first real estate company dedicated to the metaverse economy. The virtual land plot is located in the Fashion Street district of Decentraland — an online environment where you can meet other people through their avatars and exchange land and buildings using crypto. Metaverse Group will use the land to support its expansion into digital fashion, which we imagine will have the company create buildings and avatars that showcase their digital clothes offerings. The group said back in March that it was looking to launch a subsidiary that would own and operate a portfolio of development properties in several commercially viable metaverses.

Zara parent company Inditex has completed a “generational handover process” that has been in the works for a decade now, appointing Marta Ortega Pérez — the daughter of Inditex’s founder and majority shareholder Amancio Ortega, as chairperson. Oscar García Maceiras will take over as CEO from Carlos Crespo, who will now take on the role of COO. The company’s shares slid 4% on the announcement. Other than Zara, Inditex also counts brands Massimo Dutti, Stradivarius, Oysho, and Pull&Bear as its ventures. The retailer more than rebounded from the pandemic, recording record revenues with the reopening of all its stores and an expansion in digital sales. The Financial Times and Bloomberg have the story.

Has the supply chain crisis exacerbated anticompetitive practices? The US’s Federal Trade Commission is requesting information from Amazon, Procter & Gamble, and other large firms to conduct a study on the effects of supply chain disruptions on competition and pricing, the commission said in a press release. Companies have been asked to detail how they’ve been handling the supply chain crisis — looking at factors such as transportation, orders, and prices — though the request isn’t part of law-enforcement action and companies are not obligated to comply. The Wall Street Journal had the story.

Goldman Sachs has introduced new benefits to attract and retain talent as the Great Resignation continues to take its toll on labor in the US, reports the Wall Street Journal. The company will now allow longtime employees (15+ years) to take a six-week unpaid sabbatical and will allow employees to take up to 20 days bereavement leave for the loss of an immediate family member. It will also offer 20 days of paid leave for pregnancy loss and is increasing its retirement fund. Last year, the Wall Street giant introduced paid family leave for employees that have problems related to covid-19. Goldman Sachs required most of its employees to return to office in June, ahead of many other companies.