WWTOPAM
- ECONOMY
Signal Jabs at Facebook and Navigates Growing Pains as Popularity Surges
Current and former staffers, who asked not to be identified either because of concerns of breaching confidentiality agreements or professional…
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Carmakers Forced by Chip Crisis to Rethink Just-In-Time Ordering
(Bloomberg) — A century after automakers showed the world the value of assembly-line manufacturing, a shortage of semiconductors is teaching…
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What Happened When Evanston Became America’s First City to Promise Reparations
(Bloomberg Businessweek) — Lucious Sutton disconnected the water line, the gas line, and the sewer line for the home he’d…
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Florida Cruise Tests Rules; U.K. Opening in Doubt: Virus Update
(Bloomberg) — Royal Caribbean Cruises Ltd. said it had been cleared to resume cruises in the U.S. starting with a…
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HP Inc. Gives Upbeat Forecast, Fueled by Continuing Laptop Boom
(Bloomberg) — HP Inc. forecast robust profit gains for the current period, indicating consumers are continuing to spend on personal…
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It’s a Horrible Time for ‘Just in Time’ Business Models
Joe:What does the typical market look like? Brian:Well, you know, like sitting here today, I would die to go back to like…
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Biden Takes Spending Pitch to Cleveland Amid GOP Negotiations
(Bloomberg) — President Joe Biden will try to bolster his case for his massive spending proposals on Thursday, arguing his…
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Bank CEOs Get Rebuke From Waters Over Overdraft Fees, Gaps in Lending
(Bloomberg) — House Financial Services Committee Chairwoman Maxine Waters rebuked Wall Street CEOs for charging overdraft penalties during the pandemic…
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Google, Shopify Extend Ties in Commerce Blitz Against Amazon
(Bloomberg) — Google is pushing further into e-commerce with new tools and partnerships with Shopify Inc., Square Inc. and others…
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Fidelity in Talks to Back Relativity Space at $4.1 Billion Value
(Bloomberg) — Relativity Space Inc., a maker of 3D-printed rockets, is in talks to raise $600 million in a funding…
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Engine No. 1’s Exxon Win Provides Boost for ESG Advocates
(Bloomberg) — The rejection of Exxon Mobil Corp.’s management team marks one of the most significant victories for shareholders who…
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Big Business Loses a Political Home Amid Its Feud With the GOP
(Bloomberg Businessweek) — Big business broke with President Donald Trump over tariffs and immigration and resented his Twitter attacks on…
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Cathie Wood’s Bad Spring Is Only a Blip When the Future Is So Magnificent
(Bloomberg Businessweek) — In the weirdest year of our lives, the rise of Cathie Wood is hardly the weirdest thing…
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A $250 Million Fund Steers HBCU Endowments Into Venture Capital
(Bloomberg Businessweek) — College endowments illustrate just how deep-rooted inequality is in higher education. U.S. college endowments held about $630…
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What Climate Science Loses Without Enough Black Researchers
(Bloomberg) — Vernon Morris had often felt invisible in a profession defined by observation. As a climate scientist, he’s encountered racist…
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A ‘Perfect Storm’ Leaves Hamptons Restaurants Scrambling for Staff
(Bloomberg) — Later this year, the iconic Amagansett seafood shack Lobster Roll will open the first new location in its 55-year history. The outpost will…
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Covid Origin Hunt Ordered by U.S.; EU Rips Astra: Virus Update
(Bloomberg) — President Joe Biden said he ordered the U.S. intelligence community to “redouble” its effort to determine the origin…
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Casino Mogul Steve Wynn Must File as Foreign Agent, U.S. Says
(Bloomberg) — The U.S. Justice Department has told former casino magnate Steve Wynn to register as a foreign lobbyist for…
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Snowflake Declines on Forecast for Slowing Product Sales Growth
(Bloomberg) — Snowflake Inc., a software company that debuted with 2020’s biggest U.S. public offering, said product sales will grow…
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Bank CEOs Take Punches From Democrats, Warnings From Republicans
(Bloomberg) — Senator Elizabeth Warren called JPMorgan Chase & Co.’s Jamie Dimon “the star of the overdraft show.” Her Democratic…
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It’s Time to Talk About Something and Inflation Isn’t the Right Word for it
…to get something that you can get a handle on, you have to spin up a consumption basket. The idea…
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Fight Over Solar Subsidy Tests California’s Climate Commitment
“We’ve got to reform the program for the fairness of everyone,” said Kathy Fairbanks, a spokeswoman for Affordable Clean Energy…
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ECB Probes Whether Goldman, Peers Are Still Too Tied to London
(Bloomberg) — The European Central Bank is stepping up scrutiny of global investment banks’ risk management within the region to…
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Icahn on Inflation, Investing, and What He Misses About NYC: Q&A
(Bloomberg) — Billionaire investor Carl Icahn has been a hard-charging shareholder activist for decades. At 83 years of age, he…
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Trump Acolytes Craft Parallel GOP Universe So Trumpism Lives On
(Bloomberg) — Allies of Donald Trump have built an ecosystem of think tanks, fund-raising outfits and professional development organizations designed…
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Green Finance Hires Political Stars to Protect $30 Trillion Boom
(Bloomberg) — Mark Carney to Brookfield Asset Management. Brexit architect Nigel Farage to DGB Group. A senior Obama aide to…
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Hong Kong Plan for Unused Shots; Moderna for Teens: Virus Update
(Bloomberg) — Hong Kong may donate Covid-19 vaccines to countries more in need of them as local demand for Pfizer…
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Municipal Electricity Provider in California Files Bankruptcy
(Bloomberg) — Western Community Energy, a local government agency that sells electricity to six small towns in Southern California, filed…
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AI Fund That Was Trouncing Market Is Derailed by Tech Bets
(Bloomberg) — A machine-guided fund that roared ahead of the market at the start of the year is being derailed…
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U.S. States Take Aim as House Wholesalers Flood Poor Areas
States and cities in the U.S. are cracking down on a niche in house-flipping known as wholesaling conducted by a…
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IBM Turnabout Adds Pressure to Keep Corporate Diversity Promises
(Bloomberg) — The year 2021 is shaping up to set records for diversity proposals at U.S. company annual meetings. Nine out…
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U.S. Warns on Japan Travel; Seychelles Cases Drop: Virus Update
(Bloomberg) — The U.S. said Americans should avoid traveling to Japan, with the country under a state of emergency that…
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Biden to Direct $1 Billion for Severe Weather Preparedness
(Bloomberg) — President Joe Biden plans to announce on Monday a doubling of federal spending on preparations for severe weather…
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Bank CEOs Headed to Congress Due for Grilling Over Drop in Loans
(Bloomberg) — Wall Street banks spent the pandemic making record profits. Now Democratic lawmakers want them to explain why they…
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Banking Tech Startup Is Unicorn With $250 Million From SoftBank
(Bloomberg) — Banking technology provider Zeta raised $250 million from SoftBank Vision Fund II at a valuation of $1.45 billion,…
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U.S. Outbreak Slows as Concern Rises Over Variant: Virus Update
The spread of coronavirus in the U.S. continues to slow, with the country ending its first week since June with…
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Inside the Race to Avert Disaster at China’s Biggest ‘Bad Bank’
(Bloomberg) — It was past 9 p.m. on Financial Street in Beijing by the time the figure inside Huarong Tower…
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U.S. Cases Halve in a Month; Singapore Shuts Malls: Virus Update
Covid-19 cases and deaths in the U.S. continue to plunge, despite the slowed pace of vaccinations. The U.S. recorded almost…
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Summer Travel Will Require Picking Your Way Through a Maze of Border Rules
(Bloomberg) — Europe is slowly peeling back border restrictions set in place to stop the spread of Covid-19, providing an opening…
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Bubble Risks Test China’s Commitment to No Sharp Turn in Policy
(Bloomberg) — Despite Beijing’s best efforts, asset bubbles are forming in China. Home prices are soaring, prompting officials to revive…
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U.S. Cases Halve in a Month; Outbreak Hits Everest: Virus Update
Covid-19 cases and deaths in the U.S. continue to plunge, despite the slowed pace of vaccinations. The U.S. recorded almost…
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Solar Storms Are Back, Threatening Power Grids and Satellites
(Bloomberg) — A few days ago, millions of tons of super-heated gas shot off from the surface of the sun…
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Solar Storms Are Back, Threatening Life as We Know It on Earth
(Bloomberg) — A few days ago, millions of tons of super-heated gas shot off from the surface of the sun…
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Summers Says Crypto Has Chance of Becoming ‘Digital Gold’
(Bloomberg) — Former U.S. Treasury Secretary Lawrence Summers said cryptocurrencies could stay a feature of global markets as something akin…
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Oregon Offers $1 Million; U.S. Enlists Dating Apps: Virus Update
(Bloomberg) — The White House is enlisting popular dating apps to encourage Americans to brandish their vaccination status in exchange…
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Arctic-Superpower Jostling Heats Up as Russia Takes on Key Role
(Bloomberg) — A battle of words between top Russian and U.S. diplomats this week is the latest sign of rising tensions…
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The Conflict in Gaza is Over. What’s Next?
(Bloomberg) — Israel and the Palestinian Hamas militant group that runs the Gaza Strip have ceased fire after 11 days…
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Byron Allen Goes to Court Again to Battle for Black-Owned Media
(Bloomberg) — Byron Allen, the onetime stand-up comic turned all-around media mogul, is a man on a mission. The TV…
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Snap, Rivals Power AR Advertising Boom to Woo Homebound Shoppers
(Bloomberg) — When American Eagle Outfitters Inc.’s in-person sales took a hit from the Covid-19 pandemic last year, the retailer decided…
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SoftBank’s First Female Director to Leave After Challenging Son
(Bloomberg) — SoftBank Group Corp. director Yuko Kawamoto plans to resign from the company’s board in June, removing an outspoken…
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