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Business News

Location American Business News for 23 February 2021
MyPillow CEO Mike Lindell says he's losing $65 million over election fraud claims and it proves he's not pushing conspiracy theories for the money Dominion filed a lawsuit against Lindell seeking $1.3 billion in damages and claiming he used election claims to turbocharge MyPillow sales.
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Clinc's conversational AI platform uses NLP to streamline customer queries and collect related data for financial enterprises.
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GameSnacks is broadening the launch of its HTML5 gaming platform to bring lightweight, casual games to emerging countries.
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Hotel Sellers Use Car-Sales Model to Finance Lodging Deals

Wall Street Journal - 23 Feb 2021 12:30
Hotel Sellers Use Car-Sales Model to Finance Lodging Deals The lodging industry is under such stress that some property sellers are willing to lend to prospective hotel buyers the way auto dealers finance vehicle sales: Offer cheap rates and sometimes with little money down.
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Joe Manchin poses a threat to raising the minimum wage, even though 250,000 West Virginians would benefit from the increase The Economic Policy Institute estimates a $15 minimum wage would benefit 32 million workers, but centrist Democrats pose a problem for progressives' push.
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A single shot of Pfizer and BioNTech's COVID-19 vaccine reduces the risk of infection by 70%, the first real-world data suggests The protection from Pfizer and BioNTech's COVID-19 vaccine increased to 85% after two shots in a study of more than 23,000 UK healthcare workers.
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On top of strong relationships with mentors and peers, books can also guide aspiring entrepreneurs in their journey to success.
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Elderly Protester Whose Skull Was Fractured Sues Buffalo After Cops Escape Prosecution A grand jury decided two weeks ago to drop charges against the officers who pushed Martin Gugino over the summer, fracturing his skull.
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'Roaring Kitty' doubles down on GameStop shares, stock pops The kitty is still roaring, so GameStop is soaring. Shares in the video game retailer shot up as much as 20 percent on Monday after social media influencer Keith Gill — who goes by the name of "Roaring Kitty" on YouTub...
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Adam Neumann of WeWork and SoftBank Are in Settlement Talks

The New York Times - 23 Feb 2021 04:01
Adam Neumann of WeWork and SoftBank Are in Settlement Talks A legal dispute has been a key hurdle to taking WeWork public.
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Binance Suspends Ethereum and ERC-20 Token Withdrawals Before Quickly Reversing Course The rollercoaster-ride in cryptocurrency prices on Monday was accompanied by Binance’s fresh restrictions for ethereum and ERC-20 tokens. Ethereum Network Congestion Fingered as the Culprit for the Temporary Halt Throu...
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YouTube Announces New Programming As Part Of Its $100 Million Kids And Families Content Creation Commitment YouTube Originals includes worldwide scripted and unscripted series and films across music, personalities, and learning for fans verticals. The service is available in nearly 80 countries worldwide.
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Green Dot warns bump from stimulus checks was likely a one-off Prepaid customers' COVID relief spending boosted the bank's bottom line in 2020, but executives don't count on a repeat performance.
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Tech Selloff Eases After Fed Signals Steady Course

Wall Street Journal - 23 Feb 2021 18:46
Tech Selloff Eases After Fed Signals Steady Course Tech stocks bounced back from their worst open in months, after prepared testimony from Federal Reserve Chairman Jerome Powell cooled the rate fears that have fueled a late February rout.
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Electric, which provides real-time IT support alongside insights and data on its customers' IT infrastructure, has raised $40 million.
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Morgan Stanley Courts Startup Employees With Stock-Plan Deal

Wall Street Journal - 23 Feb 2021 16:00
The bank has struck a deal with Silicon Valley law firm Wilson Sonsini to take over the stock plans it manages for thousands of clients, betting the partnership will lead to new long-term clients for its wealth-managemen...
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Tesla stock falls further after Elon Musk loses $15B in single day Tesla’s stock price fell for the fourth straight day Tuesday after its massive Monday plunge wiped $15 billion off CEO Elon Musk’s net worth. The electric-car maker’s shares slipped 4.9 percent to $679.40 in premar...
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After 38% Plunge, Buy CCIV On Lucid's $22.8B 2026 Revenues After a 38% plunge, Lucid's CCIV merger values the revenue-free company at $57 billion. If Lucid hits its 2026 revenue target of $23.8 billion, that could be a bargain.
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Zscaler, CrowdStrike: Cybersecurity Stocks To Watch After The SolarWinds Attack Our indicative theme of Cybersecurity Stocks has returned over 150% since the end of 2019, compared to gains of about 21% on the S&P 500 over the same period. The theme is up by about 5% year-to-date. Cybersecurity compa...
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New photos of the Boeing 777 engine that failed show where a blade snapped off inside United Airlines Flight 328 had to land after its Pratt & Whitney engine failed, leading airlines to ground Boeing 777 planes with that engine.
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March Outlook: Fed In Focus With New Fiscal Stimulus Helping Drive Up Yields The focus returns to Washington in March, with Congress getting set to vote on a new stimulus package and the Fed meeting amid worries about possible economic overheating.
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Bitcoin Has Fallen 20% From Its Latest All-Time High Of $58,000 Bitcoin dropped roughly 23% in less than 48 hours, falling from $58,300 to less than $45,000. Will it suffer additional losses or push higher in the short-term?
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