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Business News

Location American Business News for 7 June 2021
BTS's Old Hits Fill 40% Of All The Spaces On The World Songs Chart BTS chart 10 songs on the World Digital Song Sales ranking this week...but none of them are new to the list.
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Inside Credit Suisse's $5.5 billion breakdown

livemint.com - 7 Jun 2021 18:38
Inside Credit Suisse's $5.5 billion breakdown The fallout from the Archegos collapse shows the Swiss bank's creaky risk-management systems didn't do their job, leaving the bank vulnerable with out-of-date trading data and big exposure to single stocks, according to ...
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Inside Credit Suisse's $5.5 Billion Breakdown

Wall Street Journal - 7 Jun 2021 15:33
The fallout from the Archegos collapse shows the Swiss bank's creaky risk-management systems didn't do their job, leaving the bank vulnerable with out-of-date trading data and big exposure to single stocks, according to ...
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Marshall Field's created 'the wonder rug of America,' once touted at the Chicago World's Fair. But after decades, the miracle carpet's era is ending. From 1928 until 2019 Karastan looms in Eden, N.C., made a worsted wool rug that so convincingly replicated the design and durability of imported, handmade rugs from the Middle East and Asia that it was called "the wonder...
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Wedbush's Dan Ives said that despite near-term speed bumps, he remains firmly bullish on Tesla and the broader electric vehicle space.
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Who is Mark Bezos? Brother of Jeff Bezos to join Amazon founder on Blue Origin trip to space Mark Bezos will join Amazon founder Jeff Bezos in a trip to space with Blue Origin, the rocket company founded by Jeff Bezos.      
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Shares of Michael Saylor's MicroStrategy were slightly lower on Monday, as the enterprise software company announced that it was raising some $400 million in a private offering of senior secured debt, with the aim of fur...
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An economic growth expert says 5% of government spending marked for large companies should be given to entrepreneurs to boost the economy Victor Hwang says entrepreneurial training and support programs from the government will create more jobs and help all communities in America.
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SEC's Gary Gensler Speaks at WSJ Event

Wall Street Journal - 7 Jun 2021 15:41
SEC's Gary Gensler Speaks at WSJ Event The chairman of the Securities and Exchange Commission is to be interviewed at 11:05 a.m. ET at The Wall Street Journal's CFO Network event.
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This Cheeky Recruitment Ad Aims to Destigmatize Work Within the Sex Toy Industry Arcwave, the international sexual wellness brand for people with penises, prides itself on sparking conversations about modern masculinity and adult pleasure. It's the kind of thinking that paved the way for the company'...
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Mark Cuban-backed banking app Dave to go public via SPAC merger at a $4 billion valuation Founded in 2017, Dave said it has helped Americans avoid billions of dollars in overdraft fees charged by banks.
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How employers can use contests as powerful ways to incentivize their teams Sales competitions and innovation challenges can be a cost-effective ways of motivating and rewarding employee efforts.
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S&P 500 & Sectors: Free Cash Flow Yield Through 1Q21 This report analyzes free cash flow, enterprise value, and the FCF yield for the S&P 500 and each of its sectors.
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Bitcoin users will get help relocating and working in El Salvador: President Nayib Bukele says he wants to help entrepreneurs embrace El Salvador as a base, with Bitcoin free from capital gains tax.
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Logjams Are Keeping Much of $47 Billion in Federal Aid From Renters Local governments are struggling with how to distribute federal rent aid that started flowing to states and cities five months ago.
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Walmart is quietly plotting to expand its virtual medical services These are Insider's biggest healthcare stories for June 7.
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China's crackdown on crypto intensified over the weekend after it blocked the accounts of several bitcoin influencers, report says At least twelve accounts of crypto and bitcoin influencers were shut down on Weibo as they violated guidelines and regulations, reports said.
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SoftBank-Backed Katerra Files for Chapter 11

Wall Street Journal - 7 Jun 2021 14:52
SoftBank-Backed Katerra Files for Chapter 11 The construction company, which ran into problems trying to shake up the building industry, put its liabilities between $1 billion and $10 billion.
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Google fined $268M in French antitrust case, will change ad practices As part of the first-of-its-kind settlement agreement, Google has agreed to change some of its advertising practices to make it easier for competitors to use its online ad tools.
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Goldman Sachs Survey: Chief Investment Officers Say Bitcoin Is Their Least Favorite Investment Investment bank Goldman Sachs recently held two roundtable sessions for chief investment officers of hedge funds. The bank found that they see bitcoin as their least favorite investment. In contrast, the latest Bank of A...
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U.S. Treasury Secretary Janet Yellen said in an interview Sunday that higher interest rates would be "a plus" for policy makers.
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Employment Shortages, Spiking Wages, And The New (Toilet Paper) Hoarding Syndrome The unemployment data continue to disappoint. Despite higher-than-expected wage data, most of the outsized wage gains were in the low wage Leisure/Hospitality sector, the sector hardest hit by the shutdowns.
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