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Business News

Location American Business News for 26 August 2022
El Toro riders share their horror stories after 5 hurt at Six Flags Great Adventure: 'Seeing stars' One parent said El Toro was the "roughest ride I've ever experienced," adding that "My 10 year old was sick for hours due to it."
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The S&P 500's energy sector still has plenty of upside despite its 74% surge in the past 12 months, says strategist at LPL Financial.
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What's Happening With PepsiCo Stock?

Forbes - 26 Aug 2022 16:00
What's Happening With PepsiCo Stock? PepsiCo stock (NYSE: PEP) is up 4% in a month, while it's up 3% year-to-date, slightly underperforming its peers, with both Keurig Dr Pepper (NYSE: KDP) and Coca-Cola (NYSE: KO) up around 8% each.
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Tesla's shoddy wheel symbolizes everything that's wrong with the company Using seemingly poor materials in the Tesla Model S yoke is just the latest in an endless list of quality assurance roadkill by the Texas car manufacturer. The Tesla Model S’s infamous yoke is even worse than everyone ...
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Microsoft co-founder Paul Allen collected chemistry sets as a boy, but the trove of paintings and sculptures he later amassed could top $1 billion when it heads to auction at Christie's this fall.
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Dow Plunges 1,000 Points After Fed Chair Powell Warns Inflation Requires 'Restrictive' Policy For 'Some Time' The highly awaited speech did little to calm investor fears that the economy may soon enter a recession.
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Fed's Tough Talk Could Be Transitory

Wall Street Journal - 26 Aug 2022 21:08
Fed chief Jerome Powell's hawkish tone at Jackson Hole sent stocks tumbling, but inflation could ease and the economy soften before rates rise aggressively.
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NearPay Launches Virtual Crypto Cards, Wallet for iOS and Android; Physical Cards to be Launched 'Soon' Seeking to bring what the company describes as "the modern digital banking experience" to the cryptosphere, crypto finance protocol NearPay has launched virtual crypto cards and its wallet for iOS and Android. The servic...
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Still waiting: SEC delays VanEck's third Bitcoin spot ETF application The wait for a first Bitcoin spot exchange-traded fund continues as the U.S. SEC buys more time to make a decision on VanEck's proposed BTC ETF.
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Moderna Sues Pfizer and BioNTech Over Covid Vaccine

The New York Times - 26 Aug 2022 16:43
Moderna Sues Pfizer and BioNTech Over Covid Vaccine The lawsuit, filed Friday, alleges that the companies' Covid vaccine violated Moderna's mRNA patents.
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Moderna sues Pfizer/BioNTech over COVID vaccine Moderna is suing Pfizer and its German partner BioNTech for alleged patent infringement in the development of the first COVID-19 vaccine approved in the US.
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Rekindling a Sense of Community at Work

Harvard Business Review - 26 Aug 2022 16:15
A recent survey found that employees’ sense of community declined 37% during the pandemic. Here’s how to rebuild it.
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The Fed's Jackson Hole Summit Has Delivered Plenty of Misses over the Years The Federal Reserve chairman, Jay Powell, is expected to discuss inflation, interest rates and growth in his annual address from the economic symposium on Friday.
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Bitcoin and Ethereum Experience A Fresh Decline, XRP Outperforms Bitcoin price failed to stay above the USD 21,650 resistance zone. BTC slowly moved lower below the USD 21,500 level. It is currently (11:20 UTC) showing a few bearish signs and might decline below USD 21,000. Similarly,...
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Walmart vs. Target: How WMT And TGT Stack Up After Recent Earnings Reports How have these two retailers managed to stake their claim on a new post-COVID market that still struggles to find its "new normal?" Here are some financial analyses regarding these two big box comebacks.
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The release of the FBI's Mar-a-Lago affidavit could further damage Trump's defense, legal experts say A federal judge ordered the release of a redacted version of the FBI affidavit used in the Mar-a-Lago search. It's set to come out Friday.
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WFH: 75% of remote workers and 50% of overall employed adults preferred virtual or hybrid working options once the pandemic eases.
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Stock Futures Slip Ahead of Powell's Jackson Hole Speech

Wall Street Journal - 26 Aug 2022 15:40
U.S. stock futures inched lower as investors awaited comments from Fed Chairman Jerome Powell for clues about the outlook for interest rates and efforts to tame inflation.
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Is EBay Stock Attractive At The Current Levels? The company operates an online marketplace "eBay.com", where third-party buyers and sellers can transact in a variety of products.
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Price analysis 8/26: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, MATIC Bitcoin and altcoins followed stocks lower after hawkish statements from the Federal Reserve confirmed that the central bank remains serious about reducing inflation.
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Canadian Production Company To Convert Former Mining Site Into Studio Canadian production entity North Star Productions has funneled a $26 million investment into a 100,000 sq ft lot previously owned by Epiroc, a large mining supply company.
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The gas would previously have been exported to Germany via the Nord Stream 1 pipeline before Russia slashed its gas exports to Europe.
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