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Business News

Location American Business News for 26 May 2021
OKC Thunder Win Tiebreaker As Final Draft Lottery Odds Are Set As the close of the 2020-21 season, the Oklahoma City Thunder and Cleveland Cavaliers were tied with the fourth-worst record in the league at 22-50. After Tuesday's tiebreaker win, the Thunder officially have the fourth-...
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Virtuix raises $19 million for Omni One VR treadmill

Venture Beat - 26 May 2021 15:00
Virtuix has raised over $19 million from more than 6,500 investors in latest round of funding for its Omni One VR treadmill for the home.
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Lightrun, an app observability and debugging platform, has raised $23 million in an equity venture capital round.
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Ford Expects 40% of Global Vehicle Volume to Be Fully Electric By 2030 Ford said it would spend $30 billion by 2025 to expand its electric lineup, up from the $22 billion it forecast earlier in the year.
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GameStop and AMC short-sellers just lost $618 million in a single day as meme stocks rallied sharply Short sellers have lost more than $1 billion this month on bets against two of Reddit's favorite stocks.
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US Regulators Urgently Working on Joint Cryptocurrency Regulation: Fed's Quarles Says It's 'High Priority' U.S. government agencies are urgently working together on a joint regulatory framework for cryptocurrencies, Federal Reserve Vice Chair of Supervision Randal Quarles has confirmed. “We along with the OCC and the FDIC a...
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Column: Exxon Mobil's showdown with the consequences of climate change starts now Exxon Mobil shareholders may force change on the giant oil company, starting this week.
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Stop With the Video Chats Already. Just Make a Voice Call.

Wall Street Journal - 26 May 2021 15:00
Stop With the Video Chats Already. Just Make a Voice Call. Research shows frequent videoconferences can sap your brain and deplete your energy, so columnist Joanna Stern says make more voice calls.
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DataDome, which provides a bot protection platform for ecommerce customers, has raised $35 million in venture capital.
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Gold futures trade above a price that had been viewed as a point of resistance for bullion for weeks, pointing to a near-term bullish outlook for the precious metal, according to traders.
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Should You Buy Xerox Stock At $24 Levels?

Forbes - 26 May 2021 14:30
Should You Buy Xerox Stock At $24 Levels? We believe that Xerox Holdings, best known for its printers and copiers, is a good buying opportunity at the present time. XRX stock trades near $24 currently and it is, in fact, down 37% from its pre-Covid high of aroun...
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Exxon Mobil to Square Off With Climate Change Activists

The New York Times - 26 May 2021 14:22
Exxon Mobil to Square Off With Climate Change Activists A coalition of investors has argued that the oil giant has not invested enough in cleaner energy.
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The income gap within the Asian American community is growing at a faster rate than any other ethnic group. Here's why, and what's being done about it.
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Naver, Kakao, LG 'Will Bid to Participate' in South Korean CBDC Pilot The Bank of Korea (BOK), South Korea's central bank, is set to pilot its prototype digital KRW beginning in August as the country increases the pace of its central bank digital currency (CBDC) adoption plans. And it look...
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Nordstrom Finds Reasons For Optimism In First Quarter Financial Results Nordstrom Inc. today reported first quarter financial results, which reflected continued recovery and year-over-year improvement in sales and earnings relative to the same period in fiscal 2020.
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House Majority Leader Raises Prospect Of Marjorie Taylor Greene Expulsion No. 2 House Democrat Steny Hoyer acknowledged that the onus ultimately lies with Republicans, who could easily block an expulsion resolution.
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Fnatic has raised $17 million in funding from Japan's Marubeni and others as the esports brand seeks to grow in Asia.
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Facebook employees to return to NYC offices in July

New York Post - 26 May 2021 01:37
Facebook employees to return to NYC offices in July The social media company will require COVID-19 testing, will still practice social distancing in offices and have employees wear masks.
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Goldman Sachs Says FOMO Is Driving Institutional Investors to Bitcoin Investment bank Goldman Sachs says institutional investors and asset managers are driven to bitcoin by “fear of missing out” (FOMO). Goldman now considers bitcoin a new asset class. Nonetheless, institutional investo...
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Nvidia's earnings come during a period of sustained, massive growth in its business amid a shortage of semiconductors worldwide.
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The decision to cut $300 federal unemployment benefits in GOP states is 'tied to politics, not economics,' JPMorgan says Just under half of the states in America have ended federal unemployment benefits early. They're all governed by Republicans.
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GameStop, AMC Shares Soar as Meme Stock Rally Returns

Wall Street Journal - 26 May 2021 23:58
Shares of companies that set the stock market and social media abuzz earlier this year are rallying again this week, rewarding individual investors who have held on for months.
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