Business News

Trump wants you to boycott Coke. His properties are still serving it

Trump wants you to boycott Coke. His properties are still serving it

Over the past few years former President Donald Trump has called for boycotts against a number of companies, so it’s hardly unusual to see him add Coca-Cola, Delta and other corporate giants that recently spoke out against Georgia’s laws restricting voting access. But now that he’s back at his company that does, among other things,…

Minnesota has a First Amendment problem

Minnesota has a First Amendment problem

A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Authorities in Minnesota are coming under wholly deserved scrutiny for mistreating members of the media who are covering protests in Brooklyn Center and beyond. While the state’s governor has expressed regret for the earlier incidents,…

Bitcoin rebound from dramatic weekend selloff fizzles out

Bitcoin rebound from dramatic weekend selloff fizzles out

It has been a turbulent week for Bitcoin — and it’s only Monday. After the cryptocurrency suffered a flash crash on Saturday — plummeting some 14% — it attempted to bounce back Monday. But the rebound is already fizzling out. Bitcoin rose fell 0.4% against the US dollar early Monday, hovering above the $56,000 mark.…

A giant, indoor vertical farm aims to bring jobs and fresh produce to Compton

A giant, indoor vertical farm aims to bring jobs and fresh produce to Compton

An innovative agriculture startup plans to open an indoor vertical farm in Compton to help bring more jobs and loads of fresh produce to the California city. Plenty, the company behind the project, said it will condense 700 acres of farmland into a 95,000 square foot warehouse in Los Angeles County, where food-bearing plants will…

GameStop CEO George Sherman is stepping down, sending the stock soaring

GameStop CEO George Sherman is stepping down, sending the stock soaring

It’s game over for GameStop CEO George Sherman. The video game retailer and meme stock announced Monday that Sherman will be stepping down on July 31 — or earlier if a successor is found. The news is not a major surprise given that Ryan Cohen, the co-founder and former CEO of online pet supplies retailer…

Peloton refuses to recall its Tread+ treadmill after 39 accidents. Its stock is tumbling

Peloton refuses to recall its Tread+ treadmill after 39 accidents. Its stock is tumbling

Peloton shares fell 7% in premarket trading following an “urgent warning” from the United States government telling owners of the company’s Tread+ to stop using the machine. On Saturday, the Consumer Product Safety Commission said it has become aware of 39 accidents involving the $4,295 treadmill, including “multiple reports of children becoming entrapped, pinned, and…

Thanks, bitcoin! Traders say goodbye to quiet weekends

Thanks, bitcoin! Traders say goodbye to quiet weekends

Like kicking back and relaxing over the weekend? Then you probably don’t want to trade cryptocurrencies. What’s happening: After a hype-filled week, bitcoin suffered a flash crash on Saturday night, plunging nearly 14% in less than an hour. It was last trading above $56,000 — up from lows near $51,000, but still well below the…

HSBC’s CEO is swapping his office for a hot desk

HSBC’s CEO is swapping his office for a hot desk

HSBC is scrapping the executive floor at its Canary Wharf headquarters in London, as one of the world’s biggest banks slashes office space and moves towards new ways of working following the pandemic. The bank’s top executives, including CEO Noel Quinn, will no longer work from private offices with sweeping views of the city on…

Oil company ads should carry a climate health warning, say activists

A group of lawyers want oil companies banned from advertising on television and social media unless they include “tobacco-style health warnings” about the dangers fossil fuels pose to the future of the planet. In new research published Monday, environmental law non-profit ClientEarth accused some of the world’s biggest oil firms of misrepresenting the role their…

A Black woman is hosting the Academy of Country Music Awards for the first time

A Black woman is hosting the Academy of Country Music Awards for the first time

Country music singer Mickey Guyton will make history Sunday when she hosts the Academy of Country Music Awards with Keith Urban. The 37-year-old singer from Arlington, Texas, will be the first Black woman to host the awards ceremony. And this isn’t Guyton’s first time making history in the country music world. In September 2020, she…

America’s newsrooms are reckoning with their mass shooting coverage

America’s newsrooms are reckoning with their mass shooting coverage

At least 45 mass shootings have occurred in the United States over the past month, and America’s journalists are covering the stories as they unfold, both on the ground and from their computers. There is a mass shooting — when four or more people (excluding the gunman) are shot and wounded or killed — nearly…

Remote workers can get paid $12,000 to move to West Virginia

Remote workers can get paid $12,000 to move to West Virginia

During the pandemic, cities such as Tulsa, Oklahoma, and Natchez, Mississippi, have offered remote workers cash to relocate there, while exotic destinations like Aruba have promoted their islands for stay-at-home jobs. Now, West Virginia wants to pay remote workers $12,000 to move to its country roads. On April 12, Gov. Jim Justice announced a program,…

The realities of climate change are pushing big businesses to focus on sustainability

The realities of climate change are pushing big businesses to focus on sustainability

A consensus appears to be taking root in Corporate America: What’s good for the environment can also be good for business. As President Joe Biden prepares to bring 40 world leaders together for a two-day climate summit this week, big businesses have been amplifying their sustainability initiatives and making trillion-dollar pledges to fight climate change.…

Bitcoin suffers flash crash following week of crypto hype

Bitcoin suffers flash crash following week of crypto hype

After a hype-filled week for cryptocurrencies, Bitcoin experienced a flash crash over the weekend, plunging nearly 14% in less than an hour, from about $59,000 to $51,000, on Saturday night before rebounding. Other popular cryptocurrencies including etherium and Dogecoin also fell dramatically, before recouping some of their losses. Bitcoin has skyrocketed in value this year…

Wall Street just showed the Reddit crowd how to really make money

Wall Street just showed the Reddit crowd how to really make money

In the early weeks of 2021, amateur traders backing meme stocks like GameStop, AMC Entertainment and BlackBerry captured the world’s attention. As spectacular gains triggered huge losses for hedge funds that bet the shares would fall, a David versus Goliath narrative took hold. Finally, the little guy was triumphing against The Man, which had been…

Peloton Tread+ owners told to stop using the treadmill in ‘urgent warning’

Peloton Tread+ owners told to stop using the treadmill in ‘urgent warning’

A US government agency issued an “urgent warning” for users of Peloton’s Tread+ following multiple dangerous incidents with the machine, including a child’s death. In a news release Saturday, the Consumer Product Safety Commission said it has become aware of 39 accidents involving the treadmill, including “multiple reports of children becoming entrapped, pinned, and pulled…

What is Dogecoin? How a joke became hotter than bitcoin

What is Dogecoin? How a joke became hotter than bitcoin

Dogecoin is the hottest, quirkiest cryptocurrency on the planet. The total value of the dogecoins in circulation is nearly $50 billion — not bad for a digital currency that started as a joke. It is the No. 5 most-valuable cryptocurrency on the market, according to CoinMarketCap, having increased more than 6,000% this year. The price…

Hershey has a strange idea about where you should put your Reese’s

Hershey has a strange idea about where you should put your Reese’s

Pieces of Reese’s for your face. Beer going to the dogs. A sharper White Claw. Pizza that delivers itself. That’s just a sampling of some of the weird food news that you might have missed this week. Companies are rolling into spring with unusual offerings, hoping to attract attention to their tried and true products…

Dogecoin briefly broke Robinhood’s crypto trading systems

Dogecoin briefly broke Robinhood’s crypto trading systems

Robinhood is again having to explain why users faced issues trading a popular asset on its platform this week. This time, the asset in question is Dogecoin: a cryptocurrency (which was created as a joke in 2013) popular among Redditors and with Tesla CEO Elon Musk that surged to all-time highs this week. Late Thursday,…

Fyre Festival settlement may award ticketholders more than $7,000 each

Fyre Festival settlement may award ticketholders more than $7,000 each

Nearly four years after the infamous Fyre Festival flamed out, scammed ticketholders might finally see some restitution for the biggest party that never was. A proposed settlement in federal bankruptcy court would give more than $7,000 apiece back to a few hundred people who, in the spring of 2017, arrived on a private island in…