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Business News

Location American Business News for 27 October 2021
3 Common Misconceptions About Trust Fund Kids The term "trust fund kid" may summon thoughts of the rich kids of the internet, you know, chartering private planes and driving (or, rather, not driving) their falcon-winged Teslas. But trust funds aren't only for ridicu...
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The Toxic Effects of Branding Your Workplace a "Family"

Harvard Business Review - 27 Oct 2021 14:15
There are other ways to promote a healthy, supportive culture.
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If younger workers seem distracted or overwhelmed, help them prioritize their workload and assign projects where they can be creative.
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The City of Los Angeles said there would be "no restrictions" on how the 3,000 families on the scheme can spend the $1,000 monthly payments.
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Evercore Names John Weinberg Sole CEO

Wall Street Journal - 27 Oct 2021 05:00
Co-CEO Ralph Schlosstein will step down in February after 13 years.
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New Bitcoin ETFs filed: One for bears, the other with 'leverage for ants' ETF issuers are getting creative with two new filings for inverse and leveraged funds.
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Shares of Robinhood Markets Inc. falls more than 8% late Tuesday after the online trading platform reported a wider quarterly loss and lower-than-expected sales, saying lower crypto-related revenue led to "considerably f...
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Willie Mays Exclusive NFT Sells For $50,000 At Auction At 90 years old, Willie Mays is willing to evolve with the game, getting into the NFT collectibles space with an exclusive drop about his early life and career.
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Costco is raising starting wages to $17 an hour

Business Insider - 27 Oct 2021 00:09
Costco is raising starting wages to $17 an hour Costco last raised its minimum wage to $16 in February of this year.
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Taking on Tesla Comes at a Cost for GM

Wall Street Journal - 27 Oct 2021 19:43
The Detroit car maker's third-quarter results contained a warning that its EV-centric growth strategy will require substantial investments.
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Steel companies see hot market extending into 2022

livemint.com - 27 Oct 2021 16:57
Steel companies see hot market extending into 2022 US steelmakers are building new mills and raising prices for big customers
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New Billionaire Wealth Tax--Targeting Assets Of 700 Richest Americans--Unveiled. Here's How The Democratic Plan Would Work. Senator Ron Wyden estimates the tax would generate "several hundred billion dollars" in revenue.
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Bitcoin tumbles amid filing for ETF that would bet against the crypto The application comes just a week after the SEC allowed the first bitcoin futures ETF, the ProShares Bitcoin Strategy ETF, to begin trading.
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Column: Exxon Mobil is using a bizarre Texas court rule to harass its global warming critics Exxon is exploiting a unique Texas courthouse procedure to intimidate global warming activists.
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Gold futures see choppy trade on Wednesday despite weakness in the U.S. dollar and a retreat in Treasury yields as global stocks slip, amid rising geopolitical tensions.
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Crypto, eHarmony, Twitter: Here's Where Americans Turned During Facebook's Global Outage The amount of time Android phone users spent on eHarmony's dating app during the outage jumped 690% compared to the week before, App Annie data shows, with time spent on Bravo Now up 585%.
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Hertz says it will supply up to 50,000 vehicles for Uber drivers to rent by 2023, days after announcing an order for 100,000 Teslas.
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General Motors Revenue and Profit Hit Hard by Chip Shortage

The New York Times - 27 Oct 2021 14:04
General Motors Revenue and Profit Hit Hard by Chip Shortage General Motors said it earned $2.4 billion in the third quarter, down from $4 billion a year earlier, as revenue fell 25 percent.
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The backend game engine Pragma closed a $22 million round of funding led by venture capital firm Insight Partners.
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Snap's bet on Indian originals with short form videos The daily time spent watching shows and publisher content has increased 150% y-o-y in Q2, Snapchat said
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Tesla Informs SEC It May Restart Transacting in Cryptocurrencies Elon Musk’s electric car company, Tesla, has informed the U.S. Securities and Exchange Commission (SEC) in a quarterly filing that it may restart the practice of transacting in cryptocurrencies for its products and ser...
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Alphabet Inc.'s Google and Twitter Inc. managed to avoid bigger hits to their revenue in the third quarter from the privacy changes by Apple, with both companies noting that they experienced modest impacts.
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