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Business News

Location American Business News for 4 May 2022
Shanghai Lockdown Reignites Supply-Chain Problems for U.S. Companies Some companies are warning that Covid-19 lockdowns are denting sales, disrupting operations and adding a strain that could be felt well into the summer.
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Starbucks Plans Wage Increases That Won't Apply to Unionized Workers The initiative was announced as labor organizers have won initial votes at more than 50 stores, including several this week.
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Match Group Inc. is bringing in a new chief executive with a history steeped in gaming as the online-dating company chases continued growth, but shares were headed 4% lower in after-hours trading Tuesday after the compan...
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American Consumers Are Shopping, Traveling and Working Out Like It's 2019 People have returned to their old habits in many ways, while pandemic stars like hand sanitizer and stationary bikes have faded. "I have two years to catch up on, and this is the time."
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How to Hitch a Ride on the Porsche IPO

Wall Street Journal - 4 May 2022 17:51
The sports-car brand had another excellent quarter ahead of a proposed minority initial public offering by parent company Volkswagen.
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Bitcoin Funds Sees Largest Weekly Outflows in a Year, 'Hawkish Rhetoric' to Blame Investment funds backed by bitcoin (BTC) last week saw their largest outflows for a single week since June of 2021, with USD 132.7m being withdrawn by investors, according to data from the crypto investment and research ...
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Taco Bell was the only chain in Yum's portfolio to report better-than-expected same-store sales growth.
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Denim Brand Showcases How A Recycled Pair Of Jeans Is Made This month, denim brand DL1961 will show how old clothes and scraps can be turned into a new pair of jeans at the Frieze in London from May 5 to 22.
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Tesla CEO Elon Musk Gives Investment Advice He Says 'Will Serve You Well in the Long Term' Tesla and Spacex CEO Elon Musk has shared his recommended investment strategy, which he believes “will serve you well in the long term.” Some people noted that Musk’s strategy is similar to one adopted by Berkshire...
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Starbucks Plans Barista Raises, Says Unionized Cafes Will Need to Bargain The coffee giant is expanding pay and benefits as a battle between the company and unionized employees is escalating.
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Airbnb Revenue Climbs on Record Nightly Bookings, Higher Prices The home-sharing giant said it expects to post its first full-year net profit this year after its revenue climbed 70% last quarter as people continued to book rentals despite hosts raising prices.
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Lyft Inc. said Tuesday that it had a better-than-expected first quarter, with Chief Executive Logan Green saying ride-hailing volumes hit "a new COVID high," but shares plunged after executives' forecast came up short.
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South Korea's Biggest Neobank Reportedly on Verge of Crypto exchange Banking Deal Kakao Bank, South Korea's biggest neobank and an affiliate of the internet giant Kakao, has refused to confirm or deny that it has struck a partnership deal with Coinone - one of the four biggest crypto exchanges in the ...
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Donald Trump was found in contempt for failing to comply with a subpoena from Attorney General Letitia James as part of her probe of the Trump Organization.
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Donald Trump now owes NY AG Letitia James $80K as Appellate Court tells him to keep paying An appellate judge declined Trump's request to halt a $10,000-a-day fine he's paying for failing to comply with James' subpoena for his business documents.
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South Side woman suing Advocate Christ hospital, alleging racial discrimination when she brought in her son A South Side woman alleges in a suit that Advocate Christ Medical Center assumed that, because she was Black, she abused her infant son
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Sen. Kyrsten Sinema did not reprise her side hustle as a California winery intern: documents Sinema, an Arizona Democrat, worked a curious side hustle during 2020, according to federal records.
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Donald Trump Jr. Testifies For Hours Before January 6 Committee The former president's eldest son did not plead the Fifth, choosing to answer all questions, according to CNN.
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California Gov. Gavin Newsom issues order aiming to help the state maintain its central role in crypto and blockchain, by building a regulatory framework and infrastructure.
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Lithium is becoming a lucrative business as electric vehicles become more prevalent, and miners are enjoying the rewards.
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Wi-Fi 7 gears up for enterprise deployment

Venture Beat - 5 May 2022 01:40
Qualcomm's release of new Wi-Fi 7 products provide additional bandwidth and improved connection resiliency, the company claims.
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Bally's CEO to meet with Mayor Lightfoot to finalize Chicago casino choice, but opposition from neighbors remains strong Bally's CEO Soo Kim arrived in Chicago Wednesday to meet with Mayor Lori Lightfoot and finalize her choice for the city's casino.
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