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Business News

Location American Business News for 22 August 2020

Lawsuit Claims U.S. WeChat Ban Is Unconstitutional

Wall Street Journal - 22 Aug 2020 03:29
Lawsuit Claims U.S. WeChat Ban Is Unconstitutional A users group that says it isn't affiliated with Tencent, the popular app's Chinese owner, filed a lawsuit against the Trump administration seeking to block an executive order that would bar transactions with WeChat.
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SEC Boosting Privacy for Big Market-Surveillance Database

Wall Street Journal - 22 Aug 2020 00:22
The regulator is moving to bolster the database's privacy protections after critics attacked it as a potential target for hackers.
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California Blackouts Show Natural Gas Is Needed For A Stable Grid (For Now) The California Independent System Operator ordered rolling blackouts last Friday for the first time in 19 years. The blackouts serve as an important reminder that for all the growth in renewables, natural gas is required...
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The Other Pandemic: Corporate Hacking Attempts

Wall Street Journal - 22 Aug 2020 06:01
The Other Pandemic: Corporate Hacking Attempts With about half the U.S. workforce engaged in remote work, cybersecurity experts say threats are on the rise thanks to weak Wi-Fi passwords and shared devices.
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Covid-19 Is Dividing the American Worker

Wall Street Journal - 22 Aug 2020 06:01
Covid-19 Is Dividing the American Worker The rapid adoption of remote work and automation could accelerate inequalities already in place for decades. Economists say the resulting 'K' shaped recovery will be good for professionals--and bad for everyone else.
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A Tax-Free 5% Dividend Set To Soar This Fall The media says municipal bonds, our favorite plays for safe, tax-free dividends, are facing a surge in defaults.
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WordPress developer said Apple wouldn't allow updates to the free app until it added in-app purchases -- letting Apple collect a 30% cut (AAPL) Mark Lennihan/AP WordPress is adding in-app purchases to its previously free iOS app after claiming Apple prevented it from making updates until the change was made, The Verge reported Friday. WordPress' founding develop...
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9 millionaires and billionaires with the most bizarre spending habits Stephen Lovekin/Getty Images Millionaires and billionaires are known for dropping big on yachts, mansions, and cars. But some have more eccentric taste and unique spending habits. Nicolas Cage likes rare artifacts and ex...
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David Pecker, CEO of National Enquirer's Parent, Steps Down

Wall Street Journal - 22 Aug 2020 01:54
David Pecker, CEO of National Enquirer's Parent, Steps Down David Pecker is stepping down as chief executive of American Media, publisher of the National Enquirer, ending an era for the supermarket tabloid which played a key role in a campaign-finance scandal that sent Donald Tru...
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These are the only 7 stocks in billionaire Bill Ackman's market-beating portfolio Bryan Bedder/Getty Images/The New York Times Billionaire Bill Ackman's portfolio was up 42.4% at the end of July, outperforming the broader market through the same time period. In the second quarter that ended in June, A...
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Ten Billionaires, Led By Elon Musk, Dan Gilbert And Jeff Bezos, Got $53 Billion Richer This Week Stocks behind the fortunes of the world's richest people are still hitting all-time highs despite malaise around the broader economy.
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A famed short-seller explains why he's betting big against a Chinese tech stock that has seen a 'crazy stupid' 320% gain in 2020 Screenshot/Markets Insider Famed short-seller Andrew Left is shorting the stock of Chinese online education provider GSX Techedu. Left told Business Insider that he thinks the company is exaggerating its profitability, a...
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The coronavirus pandemic could be over within the next two years, WHO chief hopes FABRICE COFFRINI/AFP via Getty Images The COVID-19 pandemic could be over within the next two years, according to the head of the World Health Organization (WHO). Tedros Adhanom Ghebreyesus said in a press conference on ...
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A record 46 billion-dollar companies have filed for bankruptcy in the US this year as the pandemic continues to wreak havoc and its far from over, say experts A record 46 companies with at least $1 billion in assets have filed for Chapter 11 bankruptcy this year, the Financial Times reported, citing BankruptcyData.com. The previous record was 38 billion-dollar businesses durin...
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Coronavirus Further Complicates Shell's Giant Floating Gas Project Shell spent billions of dollars developing a floating gas terminal five football fields long. The pandemic is posing a new problem: How to get workers safely back on site to start it back up.
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South African Wine Makers Bruised by Coronavirus Alcohol Bans

Wall Street Journal - 22 Aug 2020 11:30
South African Wine Makers Bruised by Coronavirus Alcohol Bans The nation's $1.5 billion wine industry, which employs about 290,000 people domestically, is reeling after a series of pandemic-induced shocks, including successive bans on the sale of alcohol totaling some 14 weeks.
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Full Self-Driving Cars Are Still A Long Way Off - Here's Why Tesla makes a lot of noise about its self-driving abilities, and contender Lucid is claiming it will go further with its Air. But is this really all hype, and will we ever really be able to sit back and let the cars do a...
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Warner Bros. and DC announced that Gotham Knights will be its next video game in the Batman series. It's an open-world action role-playing game.
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We need to democratize data literacy

Venture Beat - 22 Aug 2020 21:12
We're at risk of creating a new hierarchy of power: where the data literates reign over the data illiterates.
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Tech companies that have thrived during the pandemic must help those who are suffering the most to reskill for the 'new normal' economy.
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Why we can't have nice things

Venture Beat - 22 Aug 2020 17:45
Companies were already careless about data security before COVID-19. Now, with budget cuts and staff cuts, the situation is only getting worse.
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Secondhand Sellers Have Problems, but Demand Isn't One

Wall Street Journal - 22 Aug 2020 16:03
While resale businesses are experiencing strong demand, supply-side constraints are tricky to navigate.
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