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Business News

Location American Business News for 3 June 2022
Venture Capitalist Tim Draper Explains Why Bitcoin Will Soar Past His $250K Estimate Venture capitalist Tim Draper has doubled down on his bitcoin price prediction of $250,000 by the end of this year or early next year. However, he explained why he expects the price of the cryptocurrency to soar past his...
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Coinbase says it's withdrawing some job offers and extending a hiring freeze indefinitely The recent slump in cryptocurrencies has forced the first crypto company to enter the Fortune 500 to rethink its expansion plans.
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Tesla Stock Plunge Erases $65 Billion In Value After Elon Musk Flags 'Super Bad Feeling' About Economy Experts have warned recession fears are likely overblown, but Musk reportedly wants to lay off 10% of Tesla's nearly 100,000 workers.
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The New Math of Reverse Mortgages for Retirees

Wall Street Journal - 3 Jun 2022 18:00
Many of the negatives have been addressed with federal insurance and oversight. At the least, they're worth considering for people who are cash poor and house rich.
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3 Killed, 60 Injured After Train Derails In Germany It's unclear how the accident occurred and how many passengers were on the train, according to multiple outlets.
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Is 'Greedflation' Rewriting Economics, or Do Old Rules Still Apply? Economists and politicians are debating whether monopolistic companies are fueling inflation in ways that confound longstanding theory.
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US Arrests Former Employee of Opensea NFT Marketplace in 'First-Ever Digital Asset Insider Trading Scheme' The U.S. Department of Justice (DOJ) has indicted an employee of non-fungible token (NFT) marketplace Opensea in what the department called the “first-ever digital asset insider trading scheme.” DOJ Indicts Former Op...
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What's Got Economists Rooting for a Slowdown

The New York Times - 3 Jun 2022 16:58
What's Got Economists Rooting for a Slowdown With nearly twice as many open jobs as available workers and rising inflation, many economists and policymakers say a slowdown is just what the economy needs.
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Biden Has Canceled $25 Billion Of Student Loans, But Student Loan Forgiveness Still Eludes Borrowers Will your student loans get canceled?
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Opening Bell: OPEC production boost may be too little

Business Insider - 3 Jun 2022 15:28
Opening Bell: OPEC production boost may be too little OPEC announced a 50% oil production boost Thursday, but that may not be enough. This and more, in today's Opening Bell newsletter.
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Paddle lets employees work from anywhere 6 weeks a year. Here's how it overcame tax complications and time-zone differences. Paddle, a London-based company, is one of the few companies embracing a work from anywhere policy post-pandemic.
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Walmart unveils plans for highly automated, speedier fulfillment centers in the retail giant's latest bid to take on Amazon Walmart's first ever "next generation" fulfillment center will open up in Joliet, Illinois later this summer.
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Japan passes bill to limit stablecoin issuance to banks and trust companies The Japanese government is rushing to enforce new stablecoin laws in the aftermath of the Terra collapse.
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Mainland China, HK Stock Exchanges Closed For Dragon Boat Festival On June 3 U.S.-listed shares in Chinese companies will trade as usual
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Warren Buffett-Backed BYD's EV Sales More Than Tripled In May Gain underscores EV popularity In China, world's largest auto market
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The SEC Is Fed Up With ESG Greenwashing

Forbes - 3 Jun 2022 04:01
The SEC Is Fed Up With ESG Greenwashing While the intention of ESG investing is good and should be applauded, investors are right to wonder: is ESG a scam? Unfortunately, the answer is often yes. The question is, what really qualifies a stock for inclusion in ...
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The city state is feeling the impact of Malaysia's export curbs on chicken.
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The end of Korean BBQ in L.A.? What the gas stove ban means for your fave restaurants Chinese and Korean chefs in Los Angeles are worried that a ban on future gas stoves may alter their kitchens forever.
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Sycamore, Franchise Group Submit Bids for Kohl's

Wall Street Journal - 3 Jun 2022 02:11
Sycamore, Franchise Group Submit Bids for Kohl's The board of the Wisconsin department-store chain is expected to review the bids in the coming days.
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What Sheryl Sandberg's Exit Reveals About Women's Progress in Tech Silicon Valley is losing one of its most visible, outspoken and powerful women. Any gains have been incremental at best.
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'Ms. Marvel' is Disney Plus' latest original series — here's how to watch the new show starring Marvel's first Muslim superhero Marvel's new show is a coming-of-age story about a teenage superhero. New episodes of "Ms. Marvel" drop every Wednesday through July 13.
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5 reasons why Bitcoin could be a better long-term investment than gold Crypto advocates often refer to Bitcoin as "digital gold," but how does BTC stack up against gold as a long-term investment?
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