INDUSTRIES
- ECONOMY
U.S. Senate Votes to Take Up $1.9 Trillion Pandemic Relief Bill
(Bloomberg) — The U.S. Senate voted to take up a $1.9 trillion pandemic relief bill backed by President Joe Biden,…
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Texas Watchdog Says Power Grid Operator Made $16 Billion Error
(Bloomberg) — A firm hired to monitor Texas’ power markets says the region’s grid manager overpriced electricity for almost two…
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NYC Investor Spent $1.5 Million on June Democratic Voter Push
(Bloomberg) — More than 22,500 New Yorkers switched to the Democratic Party amid a $1.5 million campaign led by venture…
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Baidu Said to Win Hong Kong Bourse Approval for Second Listing
(Bloomberg) — Chinese search engine giant Baidu Inc. has secured approval from the Hong Kong stock exchange for a second…
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In Lockdown Brazil, Everyone Is Watching Big Brother
(Bloomberg Opinion) — After a year battling worsening Covid-19, and with new variants on the loose, Brazilians still face bouts…
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Square to Buy Jay-Z’s Music Service Tidal, Appoint Him to Board
(Bloomberg) — Square Inc. has agreed to buy a majority stake in Tidal, the streaming music service led by rapper…
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TWo Airline Titans Weigh In on the Future of Flight
(Bloomberg Opinion) — One year into the Covid-19 pandemic and a few months into the vaccine rollout, demand for air…
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Fallen King of Cable TV Bets That Live Sports Can Stem Decline
(Bloomberg) — Once an icon of cable TV’s money-minting powers, USA Network today symbolizes the industry’s long slide in the…
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Biden’s Relief Debate, Fed Policy, U.S.-U.K. Tariffs: Eco Day
The Senate enters the final stages of debating President Joe Biden’s $1.9 trillion pandemic relief bill on Thursday, with passage…
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Where Are We in Finding the Coronavirus’s Origin?
(Bloomberg) — More than a year after Covid-19 touched off the worst pandemic in more than a century, scientists have…
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South Korea and Taiwan’s Chip Power Rattles the U.S. and China
(Bloomberg Businessweek) — There’s nothing like a supply shock to illuminate the tectonic shifts in an industry, laying bare the…
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Australia’s Inward Turn Earns a Faster Rebound Than Expected
(Bloomberg Businessweek) — A year of border closures is making Australia rethink its embrace of globalization. Before Covid, the country’s…
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Renegade Crypto Exchange Enlists Mainstream CEO for Makeover
(Bloomberg) — Alexander Höptner was leading the Börse Stuttgart when he jumped at the chance to take a top job…
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Renegade Crypto Exchange Turns to Mainstream CEO for a Makeover
(Bloomberg) — Alexander Höptner was leading the Börse Stuttgart when he jumped at the chance to take a top job…
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CLSA Loses More Than Half of Its Hong Kong Bond Sales Team
(Bloomberg) — CLSA Ltd. has lost more than half of its fixed income team that focuses on bond sales in…
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Billionaire Lemann Is Stepping Down From Kraft Heinz’s Board
(Bloomberg) — Jorge Paulo Lemann is leaving the board of Kraft Heinz Co., the giant consumer company he helped put…
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Japan’s Genesia Leads $700,000 Vietnam Digital Media Investment
(Bloomberg) — Japan’s Genesia Ventures Inc. led a $700,000 investment in Vietnam startup Vietcetera Media targeting the nation’s growing middle…
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Indian Vaccine Effective; Record Deaths in Brazil: Virus Update
(Bloomberg) — An experimental vaccine developed by India’s Bharat Biotech International Ltd. showed 81% efficacy in an interim clinical trial.…
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Snowflake Falls on Slower Product Sales Growth Forecast
(Bloomberg) — Snowflake Inc. dropped in extended trading after projecting its product revenue growth will slow in the current quarter…
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With Michaels Buyout, Apollo Picked a Weird Time to Get Crafty
(Bloomberg Opinion) — Michaels Cos.’ management has crafted a lucrative exit for shareholders. The arts and hobby supplies chain announced on Wednesday that it had…
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Junk Bonds Prove to Be a Shelter From the Rates Storm
(Bloomberg Opinion) — The junk-bond market has never offered such low yields. And yet, it might just be the best…
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Security Guards Face the Hazardous Job of Enforcing Covid Rules
(Bloomberg Businessweek) — One Sunday last May, Karmen Kolda arrived early for his 11 a.m. shift as a security guard…
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Now Could Be Buffett’s Moment to Lend America a Hand
(Bloomberg Opinion) — From a new presidential slogan of “Build Back Better” to an economy strained by supply chain problems…
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JPMorgan Adds Goldman Dealmaker to Strategic Investors Team
(Bloomberg) — JPMorgan Chase & Co. is hiring Haidee Lee from Goldman Sachs Group Inc. as head of mergers and…
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Exxon Outlines Plan to Boost Returns and Grow Its Dividend
(Bloomberg) — Exxon Mobil Corp. outlined a target to achieve returns of least 30% on new projects after reducing capital…
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Biden’s State Rescue Dwarfs Tax Hit, Turning It Into Stimulus
(Bloomberg) — Listen to any of the architects of the $1.9 trillion spending package winding its way through Congress —…
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Regional Bank M&A Won’t Easily Fix the Tech Gap
(Bloomberg Opinion) — Regional U.S. banks are having something of a moment. After M&T Bank Corp. agreed last week to buy…
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Internet Shutdowns Plunge Millions into ‘Digital Darkness’
(Bloomberg) — India led the world last year in internet shutdowns that affected hundreds of millions of people, as governments…
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Amazon, Google Vie for Piece of India’s Digital Payments Market
(Bloomberg) — Technology giants Facebook Inc., Amazon.com Inc. and Google and credit-card providers Visa Inc. and Mastercard Inc. are among…
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Tokyo to Extend Emergency; Australia Stays Shut: Virus Update
(Bloomberg) — Tokyo plans to ask the national government to extend the coronavirus state of emergency, according to the Nikkei,…
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Billionaire Fund Manager to Pay $105 Million in NY Tax Case
(Bloomberg) — A billionaire hedge fund manager agreed to pay $105 million to New York, the biggest fine of its…
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China Investors Await Policy Signals to Boost Faltering Stocks
(Bloomberg) — China’s renewable energy, defense and technology sectors are poised for a boost from the nation’s top political meeting…
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Warren Backs More Audits for Rich as Part of Wealth Tax Plan
(Bloomberg) — Senator Elizabeth Warren said IRS funding should be bolstered so the richest Americans get audited about once every…
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Intel Told to Pay $2.18 Billion After Losing Texas Patent Trial
(Bloomberg) — Intel Corp. was told to pay $2.18 billion after losing a patent-infringement trial over technology related to chip-making.…
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Microsoft Steps Up Push to Bring Virtual Reality to the Masses
(Bloomberg) — Microsoft Corp. unveiled software tools designed to make it easier and less expensive for people to access virtual…
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Republicans Seize on Nursing-Home Deaths to Weaken Democrats
(Bloomberg) — Republicans are weaponizing Covid-19’s nursing home deaths. In recent months, GOP lawmakers have heaped criticism on Democratic governors…
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Bond Tantrum Has Big Silver Lining for Pensions
(Bloomberg Opinion) — As is often the case with large market swings that evoke the specter of a “regime change,” it’s…
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Carbon Emissions Made a Rapid Recovery From Covid
(Bloomberg Opinion) — The chief benefit of the International Energy Agency’s new monthly data on global carbon emissions, published Tuesday,…
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Why Changes to Hong Kong’s Stock Index Are a Big Deal
(Bloomberg) — The Hang Seng Index is undergoing a dramatic overhaul aimed at giving investors who track it greater exposure…
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WHO Says Covid Will Rebound; EU Seeking Normalcy: Virus Update
(Bloomberg) — Global cases rose for the first time in almost two months in the past week, mainly in the…
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China’s Nio Misses Profit Forecast Even as Vehicles Sales Grow
(Bloomberg) — Chinese electric-vehicle upstart Nio Inc. posted a wider-than-expected loss in the fourth quarter, a year after a government…
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Zoom Projects Annual Sales Signaling Growth After Pandemic
(Bloomberg) — Zoom Video Communications Inc. projected annual revenue that would top analysts’ estimates, signaling the video meeting service expects…
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Escape Artists Accused of Freeing Carlos Ghosn Can’t Evade Reckoning in Japan
(Bloomberg) — Fifteen months after security contractor Michael Taylor smuggled the former Nissan Motor Co. chairman Carlos Ghosn out of…
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South Korea’s Coupang Seeks Up to $3.6 Billion in New York IPO
(Bloomberg) — South Korean e-commerce giant Coupang Inc. is seeking to raise as much as $3.6 billion from an initial…
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Fed’s Brainard Sets Out Reform Plan for Covid-Stressed Markets
(Bloomberg) — Federal Reserve Governor Lael Brainard described a broad regulatory reform agenda for the coming months aimed at fixing…
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How Covid’s Toll Compares With Other Things That Kill Us
At 500,000 and counting, U.S. Covid fatalities are now a lot higher than annual deaths from most of those other…
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IBM Expands Hybrid Cloud Service, Targeting Banks, Health Care
(Bloomberg) — International Business Machines Corp. has publicly released its hybrid cloud service, furthering its plan to pivot the business…
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Private Equity Has $300 Billion for Pandemic-Hit Real Estate
(Bloomberg) — Real-estate bosses at Blackstone Group Inc. quietly smiled when Britain’s biggest-selling tabloid unwittingly endorsed their largest European real…
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J&J’s Covid Vaccine Could Protect Millions — If People Take It
(Bloomberg) — Johnson & Johnson’s Covid-19 vaccine could protect millions more Americans from contracting the coronavirus. The key will be…
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Teacher Vaccine Eligibility Expands in States Where Supply Lags
(Bloomberg) — Within weeks, teachers in most U.S. states will be eligible for Covid-19 vaccines. It’s unclear whether school openings…
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