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Business News

Location American Business News for 18 May 2022
Doja Cat Is the Average Marketer's Worst Nightmare. That's Why Taco Bell Hired Her When it comes to selecting a brand-safe partner, Doja Cat would have a hard time making it to the top of any marketing team's list. The rapper's Twitter feed is an uncensored stream of consciousness--a hub where she anno...
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Stocks of FIGS, Coinbase, Coupang and Robinhood have plunged since 2021 IPOs. But not before executives and financial backers sold portions of their holdings.
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Tencent's Earnings Are a Bad Omen for Chinese Tech

Wall Street Journal - 18 May 2022 16:24
China's most valuable internet company is contending with a toxic mix of slowing consumption and regulatory overhang at home, and the same forces punishing other tech firms abroad.
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Cuban previously said canceling debt is "the worst thing you can do," but told Insider he now supports forgiving $10,000 and free community college.
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Michelob Ultra's 'Courtside' Snags Platinum Honor During 2022 OBIE Awards When the Covid-19 pandemic rendered in-person spectating an impossibility, Michelob Ultra teamed up with Microsoft and FCB New York to bring NBA fans courtside from the safety of their homes. Now, that herculean effort i...
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Charlie Scharf said while a recession in the US seems hard to avoid, the strength of businesses and consumers would dampen its impact.
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DOJ Files First Criminal Complaint Against US Citizen Allegedly Using Cryptocurrency to Evade Sanctions The Department of Justice (DOJ) has filed its first criminal complaint against an American who allegedly used cryptocurrency to circumvent U.S. sanctions. “The payments platform advertised its services as designed to e...
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It's becoming quite clear that Elon Musk no longer wants to buy Twitter, or at least not at the current price he had negotiated, in what has become one of the strangest M&A sagas ever.
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Elon Musk: US Economy Is Probably in Recession That Could Last 18 Months -- Warns It 'Will Get Worse' Tesla and Spacex CEO Elon Musk says that the U.S. economy is probably in a recession and it could be “tough going” for 12 to 18 months. He added: “The honest reason for inflation is that the government printed a zi...
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The Walton family lost nearly $19 billion on Tuesday after Walmart's biggest stock slide in about 35 years The world's richest family, which owns a chunk of Walmart, lost $19 billion as the retailer's stock went down, Bloomberg reported Tuesday.
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The curious case of Fino Bank exits

livemint.com - 18 May 2022 21:17
The curious case of Fino Bank exits Lapses in corporate governance, silence of institutional shareholders have plunged the bank into needless controversy.Insiders have flagged irregularities in the governance process. Among the unanswered questions, were t...
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Biggest Movers: ATOM Remains Close to 1-Year Lows, as DOT Declines 8% ATOM moved closer towards a one-year low on Wednesday, as prices dropped by nearly 10%. This came as DOT also declined during today’s trading session, when global crypto markets fell by over 3% as of writing. Cosmos (A...
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Can Elon Musk Just Walk Away From Twitter?

Wall Street Journal - 18 May 2022 19:04
Here are the Tesla chief executive's options should he try to exit his $44-billion acquisition of the social media company.
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Do Kwon's Plan for New Terra Blockchain Becomes 'Final' A plan to revive the Terra (LUNA) ecosystem by creating a new blockchain without an algorithmic stablecoin has been designated as "final" by Terraform Labs CEO and co-founder Do Kwon. By creating a new blockchain with it...
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Axie Infinity, NFT and Other Projects Fall Victims of a Phishing Attack Messaging platform Discord servers of multiple large NFT collections and crypto projects, including play-to-earn game Axie Infinity, have been compromised, with attackers publishing phishing links that appear to be NFT m...
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Full-stack observability provider New Relic announces the launch of a new vulnerability management solution.
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Synchrony Financial Stock Lost 10% In One Week, What To Expect Next? The current scenario is likely to increase the credit risk, leading to an increase in the provisions of credit losses.
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After Taking Over Myspace, Trolli Tries Out Craigslist One year ago, Trolli picked an unusual platform to promote a line of martian-themed gummies: Myspace. Without spending a dime on paid media, the brand built more than 200 Myspace profile pages for its candied characters ...
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Bitcoin and Ethereum Stuck Near Key Levels, Altcoins Struggle Bitcoin price is struggling to gain momentum above USD 30,000 and is currently (11:46 UTC) trading near USD 29,850 while holding the key USD 29,000 support. A downside break below USD 29,000 could start a stronger bearis...
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Web3 Gaming Company Metatheory Raises $24 Million With Backing From A16z, Pantera, and FTX Metatheory, a Web3 gaming company founded in 2021, has announced it has raised $24 million in a Series A funding round. The investment round, which was led by big VC names in the crypto space like a16z, also had the part...
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U.K. Inflation Hits 40-Year High

Wall Street Journal - 18 May 2022 14:59
U.K. Inflation Hits 40-Year High The U.K.'s annual rate of inflation jumped to 9% in April, the highest level recorded by an industrialized nation since the start of the global price surge last year.
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Target Earnings Squeezed by Inflation, Fuel Costs

Wall Street Journal - 18 May 2022 14:53
Target Earnings Squeezed by Inflation, Fuel Costs Retailer posts profit trailing Wall Street forecasts as shoppers buy fewer TVs and kitchen items.
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