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American Business News for 15 Jun 2021

Are The Apes Now Running Wall Street?

Forbes - 15 Jun 2021 14:58
Are The Apes Now Running WallParticipating in equity markets has always entailed some risk, but historically, if one performed careful research, paying attention to fundamentals, a rational investment strategy could be devised.... Not so with meme stocks, the latest monkey wrench thrown into the grooved gears of Wall Street.
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Latin American Countries EyeA number of lawmakers in Latin American countries have expressed their interest in bitcoin following El Salvador passing the law making the cryptocurrency legal tender. The countries include Paraguay,... Argentina, Panama, Brazil, and Mexico. Tonga and Tanzania have also reportedly expressed interest in bitcoin. More Countries Eye Bitcoin Adoption After El Salvador passed the bill […]
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Goldman Sachs ExpandsInvestment bank Goldman Sachs has reportedly unveiled its plans to expand its cryptocurrency desk to offer ether futures and options trading. The bank says “institutional adoption will continue,”... noting that “Despite the material price correction, we continue to see a significant amount of interest in this space.” Goldman Sachs Gets Ready to Offer Ether Futures […]
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California offers $100 millionLos Angeles will be the biggest beneficiary of the money, which was proposed by Gov. Gavin Newsom to help cannabis businesses acquire permanent licenses.
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Bitcoin Remittances to ElBitcoin remittances to El Salvador jumped more than fourfold in May from the previous year, according to data from blockchain analytics firm Chainalysis. Last week, El Salvador passed a bill making... bitcoin legal tender in the country alongside the U.S. dollar. The monthly bitcoin transfers of under $1,000 to El Salvador totaled $1.7 million in […]
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Are You a Current or Former Amazon Employee?

The New York Times - 15 Jun 2021 15:37
Are You a Current or FormerWe're interested in learning as much as possible about how Amazon manages its work force.
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Fed Time: Market Mulling KeyProducer prices came in higher than expected and retail sales came in lower. This could stir the pot a bit as the Fed meeting begins, because this combination would suggest that the Fed is right about... inflation potentially being "transitory."
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Retail sales fell 1.3 percentAs more of the country is vaccinated, Americans are venturing out and spending more on lodging and entertainment, but less on goods.
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Harvey Fierstein Donates $2.5The gift from the writer and performer will help create an educational hub at the New York Public Library for the Performing Arts at Lincoln Center.
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AMC Is The Best-PerformingHere we go again. The stock of movie theater chain AMC Entertainment (AMC) just skyrocketed out of nowhere, jumping as much as 127% in one day earlier this month.
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Slow Recovery in Long-HaulEmirates Group posted a $6 billion annual loss and Lufthansa said it was cutting another 10,000 jobs, as two of the world's biggest international airlines braced for a slow resumption of long-haul... travel.
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Lordstown's Struggles Raise New Fears About SPACs

The New York Times - 15 Jun 2021 14:40
Lordstown's Struggles RaiseCould regulators have stopped the electric car start-up's implosion?
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U.S. Producer Prices Rose Strongly in May

Wall Street Journal - 15 Jun 2021 14:38
U.S. Producer Prices RoseThe Labor Department said its producer-price index rose 0.8% in May from the prior month, adding to inflation pressures bubbling through the U.S. economy.
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John McAfee, of antivirusDetained antivirus software entrepreneur John McAfee testified in a Spanish court Tuesday as part of his fight against extradition to the United States, where he is wanted on tax-related criminal... charges that carry a prison sentence of up to 30 years.
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Airbus-Boeing trade disputeThe United States and the European Union reached a deal Tuesday to end a damaging dispute over subsidies to rival plane makers Boeing and Airbus and phase out billions of dollars in punitive tariffs,... the U.S. trade envoy said.
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Companies have dangled cash, time off and other prizes to encourage vaccinations. Executives made personal appeals in town-hall meetings and internal memos. Now, some of those efforts are taking a... more assertive and urgent tone.
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Microsoft's LinkedIn will try to stop rival hiQ Labs from harvesting personal data from the platform's public profiles.
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Space Force Launches AugmentedWith the launch of a satellite named in Neil Armstrong's honor and an AR-enabled NFT collection, the US Space Force hopes to inspire more people to explore space and, coincidentally, the metaverse... too.
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Bitcoin derivatives data showsBitcoin price may have pumped 10% to $41,000 but derivatives indicators show top traders aren't feeling so bullish.
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Texas' ERCOT Seeing 'VeryThe Dallas area was under a heat advisory Monday, as heat indices approached 110.
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The tax-collection agency on Monday announced a new tool to get checks to the people who need the money most.
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Sinclair Raising $250 MillionBroadcast group owner Sinclair and investment fund LionTree are raising $250 million to launch a sports streaming service built on Sinclair's 21 regional sports networks around the United States. It... could reshape online access to pro and college sports in many parts of the country.
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RBI slaps fine on twoA fine of ₹6 lakh has been imposed on the Bijnor Urban Co-operative Bank Limited, and ₹5 lakh on the National Urban Co-operative Bank Limited, New Delhi
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Medical device maker Philips is recalling sleep apnea machines and ventilators containing foam that could put users at risk of cancer or other issues.      
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Microstrategy Selling up to $1Microstrategy Inc. is selling up to $1 billion of its common stock, MSTR, with the aim to use some of the net proceeds to buy bitcoin. The Nasdaq-listed company also recently completed a $500 million... secured notes offering and will use the proceeds to acquire bitcoins. Selling MSTR Stock to Buy Bitcoin Microstrategy Inc. has […]
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