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Business News

Location American Business News for 22 June 2022
Jerry Jones bought control of Comstock Resources at the depths of the gas bust, and now his stake is worth more than twice what he paid.
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Goldman Sachs Sees Higher US Recession Risk Citing Concerns the Fed Will 'Respond Forcefully' to High Inflation Goldman Sachs’ economists now see an increased risk of a U.S. recession. “We are increasingly concerned that the Fed will feel compelled to respond forcefully to high headline inflation and consumer inflation expecta...
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Tether Launches GBP-pegged Stablecoin, Supports UK Plan to Become 'Cryptoasset Hub' The stablecoin issuer Tether, known as the company behind the world's largest stablecoin USDT, on Wednesday announced the launch of a new stablecoin pegged to the British pound. The pound-pegged coin is called GBP₮ (GB...
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Jalen Mills Will Play A Proven Part In The New England Patriots' New-Look Cornerback Room The New England Patriots near training camp with questions at one outside cornerback spot. But veteran Jalen Mills, who signed a four-year, $24 million contract in 2021, has quietly been the answer at the other.
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The Fire Burning Beneath Crypto's Meltdown

Wall Street Journal - 22 Jun 2022 12:00
Are bitcoin and other crypto tokens crashing because of the usual excesses that accompany advances in finance? Or do they have the sort of fundamental flaws that will see them as historical relics?
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UK inflation hit 9.1% in the year to May as fuel, energy and food prices soar.
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Biggest Movers: UNI Moves Into Top 20, as SHIB Hits Highest Point Since May Uniswap moved into the crypto top 20 on Wednesday, relegating MATIC, after surging by over 10% today. UNI has now gained for four straight sessions, as it approaches a key resistance point. SHIB was once again higher tod...
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Owen Diaz was awarded a payout of $137 million in November 2021 for his claims of racial abuse, but this was later slashed to $15 million.
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Oil Prices Extend Slide With Recession Fears Ramping Up

Wall Street Journal - 23 Jun 2022 00:50
Oil prices slipped, heading toward their lowest close in weeks as traders focused on the likelihood of a recession that will hurt demand for crude.
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What Inflation Means For Your Student Loans

Forbes - 22 Jun 2022 16:30
What Inflation Means For Your Student Loans Inflation is coming for your student loans.
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A GOP senator got caught pretending to be on his phone to avoid questions about the Jan. 6 insurrection Sen. Ron Johnson held his phone to his ear while leaving the U.S. Capitol, but reporters noticed he was not really on a call.
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How Los Angeles Can Make $70 Million On A $1.4 Million Battery From 2014 to 2019, cities estimated that the All-Star Game brought in $70 million in economic impact. The 2022 Midsummer Classic at Dodgers Stadium is expected to easily surpass that revenue, behind the abilities of play...
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Lawyers Make Final Arguments in Fraud Case Against Former Theranos President An assistant U.S. attorney told jurors that Ramesh "Sunny" Balwani gave investors false financial projections, while a defense counsel said the government left out crucial evidence in the Silicon Valley case.
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Bitcoin price rises to $20.7K as Fed's Powell says more rate hikes 'appropriate' Testimony from the Fed Chair provides no surprises while risk assets meander on the Wall Street open.
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Big Tech Joins Hands to 'Foster' the Creation of Metaverse Standards Meta, Microsoft, Nvidia, Sony, as well as 33 other tech giants racing to build the metaverse have formed a group to create the infrastructure for an interoperable metaverse. Dubbed The Metaverse Standards Forum, the new ...
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Ford Picks Spain for Production of New Electric Vehicle

Wall Street Journal - 22 Jun 2022 17:38
Ford Picks Spain for Production of New Electric Vehicle The U.S. auto maker will build a next generation of electric vehicles at its factory in Spain as it moves to drive down costs and prepare for a potential European ban on production of gas and diesel vehicles after 2035.
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FDA to Order Juul E-Cigarettes Off U.S. Market

Wall Street Journal - 22 Jun 2022 17:31
FDA to Order Juul E-Cigarettes Off U.S. Market The Food and Drug Administration is preparing to order Juul Labs to take its e-cigarettes off the U.S. market, following a nearly two-year review of data presented by the vaping company.
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Poor API security may cost orgs up to $75B per year

Venture Beat - 22 Jun 2022 17:00
Research shows that vulnerable APIS cost organisations up to $75 billion per year in losses due to disruption.
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Warner Music CEO to Step Down Next Year

Wall Street Journal - 22 Jun 2022 17:00
Warner Music CEO to Step Down Next Year Steve Cooper, who has been CEO since 2011, steered Warner Music's turnaround by embracing streaming, which led to the company doubling its revenue and taking market share from larger competitors.
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Binance-owned Trust Wallet adds buy option via Binance Connect Binance's self-custodial crypto wallet Trust Wallet aims to enable the purchase of more than 200 digital assets with 40 fiat currencies via Binance Connect, formerly known as Bifinity.
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Moderna to Build New Vaccine Facility in the U.K.

Wall Street Journal - 22 Jun 2022 16:45
Moderna to Build New Vaccine Facility in the U.K. Moderna said it would manufacture vaccines in the U.K. as part of a deal with the British government aimed at ensuring speedy access to mRNA vaccines in the event of future pandemics.
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Britain's Inflation Crisis Deepens, Fueling Strike Action

Wall Street Journal - 22 Jun 2022 15:50
Britain's Inflation Crisis Deepens, Fueling Strike Action Inflation in the U.K. rose to a fresh four-decade high, darkening the country's economic prospects at a time of mounting worker unrest and growing disaffection with the government.
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