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Business News

Location American Business News for 28 January 2021
'It's Doge Time': Dogecoin Surges As Reddit Traders Push To Make It The Crypto GameStop After whipping up a market frenzy in stocks for GameStop and BlockBuster, Redditors are on a new mission: to get joke cryptocurrency Dogecoin to $1 a coin.
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GameStop Frenzy Leaves Steve Cohen's Point72 Down 15 Percent

The New York Times - 28 Jan 2021 03:23
GameStop Frenzy Leaves Steve Cohen's Point72 Down 15 Percent Point72's losses are among the first clear indications of the ripple of effect of the GameStop rally.
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Biden Opens New Fronts In His War On U.S. Oil And Gas The attacks on the domestic oil and gas business by the Biden/Harris administration are coming at such a rapid pace now that it's hard to keep up with them all, which of course is a part of the overall strategy at play.
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Trusts for aave, cosmos and polkadot, as well as privacy coin monero and cardano, have been registered in Delaware.
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Insurer Looks to Shorten Time From Car Wreck to Body Shop

Wall Street Journal - 28 Jan 2021 07:01
Insurer Looks to Shorten Time From Car Wreck to Body Shop Hartford Financial joins with a tech startup to use artificial intelligence to estimate repair costs.
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Reddit's WallStreetBets Forum Briefly Goes Dark

Wall Street Journal - 28 Jan 2021 03:31
A message on the forum's landing page initially said WallStreetBets had been taken private by its moderators because off technical difficulties on an "unprecedented scale as a result of the newfound interest in WSB."
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"You can sell anything digital using NFT," says the Dallas Mavericks owner. "We can sell virtual Mavs gear, sneakers, art, pictures, videos, experiences, anything our imagination can come up with."
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Hobby Lobby is getting rid of its 40% off coupon starting Feb. 28 and shoppers are mourning Is Hobby Lobby getting rid of its coupon? Yes, the arts and crafts chain said starting Feb. 28 it will no longer offer the coupon in stores or online.       
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Coinbase Global Intends to Go Public Via Direct Listing

Wall Street Journal - 28 Jan 2021 23:39
The cryptocurrency exchange said it plans to go public through a direct listing, making the popular platform the latest company to forgo the traditional public-offering process.
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A number of brokerages have limited trading in a handful of popular stocks.
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February Outlook: Six Things To Watch For Including Fed Testimony, Stimulus Progress, Earnings February begins with investors focused on the Fed's latest observations, progress on vaccinations, and the fight in Congress over a new stimulus.
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Qualtrics Shares Jump in Trading Debut

Wall Street Journal - 28 Jan 2021 22:00
Qualtrics opened at $41.85 Thursday afternoon, compared with its initial public offering price of $30 a share.
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Who Really Loses From The GameStop Whipsaw?

Forbes - 28 Jan 2021 21:47
Who Really Loses From The GameStop Whipsaw? Potentially, all of us
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WeWork in Talks to Combine With SPAC or Raise Money Privately

Wall Street Journal - 28 Jan 2021 20:54
A deal, more than a year after WeWork's high-profile failure to stage a traditional initial public offering, could value the company at some $10 billion.
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Green's 2021 Trader Tax Guide: Highlights

Forbes - 28 Jan 2021 20:47
Green's 2021 Trader Tax Guide: Highlights Green's 2021 Trader Tax Guide covers the 2017 Tax Cuts and Jobs Act (TCJA) and the 2020 Coronavirus Aid, Relief, and Economic Security (CARES) Act's impact on investors, traders, and investment managers.
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Robinhood, Other Brokerages Restrict Trading on GameStop, AMC

Wall Street Journal - 28 Jan 2021 20:30
Popular online brokerages restricted access to trading high-flying stocks including GameStop Corp. and AMC Entertainment Holdings Inc., drawing sharp rebuke from individual investors hoping to participate in this week's ...
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Did GameStop Mark The Top?

Forbes - 28 Jan 2021 20:22
Did GameStop Mark The Top? One thing's for sure: making money in stocks feels really easy right now.
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Honeywell Stock Likely To Trade Lower After Q4 Results Honeywell International recently announced divestiture of its performance and lifestyle footwear business to Rocky Brands for a sum of $230 million. This business was part of Honeywell's Safety & Productivity Solutions s...
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Daily Cartoon: Thursday, January 28th

The New Yorker - 28 Jan 2021 18:16
Daily Cartoon: Thursday, January 28th "Oh, those trophies? Father says we come from old GameStop money."
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Strong US sales give McDonald's a boost in 4th quarter, though Wall Street expected more McDonald's ended 2020 on a strong note, recovering nearly all of the global sales lost in the pandemic despite a resurgent virus.
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The 20 highest-paying and most-fulfilling jobs in the US, according to Glassdoor According to Glassdoor's latest ranking, 22 of the 50 best jobs are tech positions. This includes Java developers and automation engineers.
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The bank's plans are more ambitious than Goldman's Marcus bank, which only offers savings accounts; top officials say the Fed won't pressure banks to avoid lending to certain industries.
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