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Business News

Location American Business News for 5 November 2021
An LA city approved plans to raise the minimum wage to $17.64 an hour, set to be the highest in the US to date The rise will initially apply to hotel workers from January 1 2022, but will extend to cover all citywide workers by July 2023.
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A tale of two altcoins: Shiba inu's star fades, while solana shines, as investors favor real-use tokens Investors have shunned meme tokens like shiba inu in favor of cryptocurrencies with more real-life use cases, such as solana and ether.
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The Unbearable Whiteness of Camping

Fast Company - 5 Nov 2021 09:00
The Unbearable Whiteness of Camping People of color have been excluded from the camping industry for decades. The pandemic changed everything. My Indian father and Chinese mother thought the concept of camping was absurd. Born in the British colony of Mala...
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What's ahead for COVID-19 treatments after Pfizer says its antiviral pill works These are Insider's biggest healthcare stories for the week ending November 5.
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One of America's Toughest CEO Jobs: Fixing PG&E

Wall Street Journal - 5 Nov 2021 11:30
One of America's Toughest CEO Jobs: Fixing PG&E Patti Poppe surprised her own board with a multibillion-dollar plan to bury the utility's fire-prone power lines. Bold action--and compassion--is needed to stabilize the company, she says. She calls the plan a win for cu...
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Chinese real estate developer Kaisa Group Holdings halted trading of its shares Friday after news it had missed a payment on a wealth management product.
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US Lawmakers Urge SEC to Permit Trading of Bitcoin Spot ETFs U.S. lawmakers have called on the Securities and Exchange Commission (SEC) to approve bitcoin spot exchange-traded funds (ETFs). Since the SEC has approved the trading of bitcoin futures ETFs, the lawmakers said it “sh...
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Current and former Boeing Co. directors have reached an approximately $225 million agreement to settle a shareholder lawsuit that claimed the plane maker's board failed to properly oversee safety matters related to the 7...
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SoftBank, which estimates that 1 trillion connected devices will create $11 trillion in value by 2025, is betting big on Plume.
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Reopening Stocks Lead The Market Higher After Strong Jobs Report, Pfizer Announcement Stocks extended their winning streak amid growing optimism about the U.S. economic recovery.
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Advent Nears Deal to Buy McAfee for More Than $10 Billion

Wall Street Journal - 5 Nov 2021 21:51
The security-software company is nearing a deal to sell itself to private-equity firm Advent International, according to people familiar with the matter.
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'The Electrical Life Of Louis Wain': New Biopic Starring Benedict Cumberbatch Full Of Quirk The biopic on the eccentric British artist is on Prime Video from November 5.
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What, Exactly, Is The Metaverse?

Forbes - 5 Nov 2021 19:08
What, Exactly, Is The Metaverse? In recent years, the metaverse has become the name for the "next generation of the internet," much like Google was 20 years ago.
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Overseas real-estate buyers are expected to descend on the nation's luxury housing markets Monday, as U.S. lifts travel ban for vaccinated visitors.
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When Bad News About the Climate Is Good for Green Stocks

The New York Times - 5 Nov 2021 16:47
When Bad News About the Climate Is Good for Green Stocks Markets respond when coverage of global warming spikes, new research suggests. But investors could become inured to the bleak state of climate change.
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(To receive weekly emails of conversations with the world’s top CEOs and business decisionmakers, click here.) At the age of 98, former Secretary of State Henry Kissinger has a whole new area of interest: artificial in...
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How Disney Harnessed Interest in Escapism to Connect With Audiences in 2020 As Covid-19 began to descend on the world in 2020, consumers searched for ways to connect while trapped at home. Over and over again, they turned to Disney. Disney saw its global video viewership of its video content inc...
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The construction industry needs a 'staggering' 2.2 million more workers to keep up with booming demand for houses amid the labor shortage Amid a boom in home sales and a shortage in labor and available homes, the US needs millions more construction workers to keep pace with demand.
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US stocks eye fresh record highs as upbeat jobs report boosts economic optimism The economy added 531,000 jobs to nonfarm payrolls in October, beating the median forecast for a gain of 450,000.
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US hiring rebounded in October, with 531,000 jobs added

Chicago Tribune - 5 Nov 2021 15:21
US hiring rebounded in October, with 531,000 jobs added America's employers added a solid 531,000 jobs to the economy in October, the most since July and a sign that the recovery from the pandemic recession is overcoming a virus-induced slowdown. Friday's report from the Labo...
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Companies stepped up hiring in October and added a solid 531,000 jobs, but the biggest labor shortage in decades is still holding back an economic recovery and adding to the largest surge in inflation in three decades.
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October jobs report beats expectations with 531,000 new payrolls as the Delta variant fades away Last month's job growth exceeded the average forecast of 450,000 new payrolls. It also marked an encouraging rebound from September's small gain.
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