Peloton initially refused to recall its treadmills. Here’s why it can do that
You would think that federal safety regulators would have broad powers to order the recall of products they find dangerous or even deadly. You would…
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US stocks rise to new records despite weak jobs report
Bad economic news was once again greeted with cheers on Wall Street as two top indexes closed out the week in record territory. Investors brushed off…
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US stocks rise despite weak jobs report
Bad economic news was once again greeted with cheers on Wall Street. Investors brushed off Friday’s surprisingly weak jobs report, which showed…
Continue ReadingPeloton recall saga shows limits of safety regulators’ powers
You would think that federal safety regulators would have broad powers to order the recall of products they find dangerous or even deadly. You would…
Continue ReadingNasdaq’s computer system literally can’t handle Berkshire Hathaway’s sky-high stock price
The world’s most famous electronic stock market can’t compete with the stubbornness of a 90-year-old billionaire. For decades, Warren…
Continue ReadingWhat is bitcoin cash?
A cryptocurrency that looks and sounds a lot like bitcoin has creeped up into the top 10 biggest digital currencies list: bitcoin cash. Bitcoin cash…
Continue ReadingWashingtonian staffers protest CEO’s ‘public threat’ to return to in-person work
Staffers at the Washingtonian, a monthly DC-based magazine, are protesting Friday in response to their CEO’s opposition of remote work. On…
Continue ReadingSean Hannity used to rule Fox. But in the post-Trump era, Tucker Carlson is king
Sean Hannity finds himself in familiar territory as of late: second place. For most of his career, the right-wing Fox propagandist has been in the…
Continue ReadingWhy investors are paying attention to elections in Scotland
Investors are waiting for the final results of parliamentary elections in Scotland that could spark radical changes to the political and economic…
Continue ReadingMajor disappointment: America added way fewer jobs than expected in April
The pandemic continues to roil America’s economy, setting the job market on its head. Employers looking for workers are having trouble finding…
Continue ReadingGary Vaynerchuk: NFT is the next big thing
Serial entrepreneur Gary Vaynerchuk is selling a new use case for NFT: “Smart event” tokens that have real value rather than digital art.…
Continue ReadingVanishing workers are the latest economic worry
The US economy is roaring back to life after a long period of hibernation, sending companies scrambling to find workers that can help them meet a…
Continue ReadingIHOP turned away Adam Sandler. Now it’s trying to make it up to him
IHOP is hoping to make amends with Adam Sandler next week after an unwitting hostess turned away the comedian at a Long Island location. The IHOP…
Continue ReadingOne year after the worst jobs loss on record, millions of Americans remain out of work
The US labor market collapsed a year ago when more than 20 million jobs vanished in a single month. Now the economy is healing, but millions of…
Continue ReadingThis will be one of the most important summers for Hollywood ever
In a parallel universe, audiences around the world are heading to the cineplexes Friday to see Marvel’s “Black Widow” as it kicks…
Continue ReadingChinese cinemas are showing old propaganda movies. Is Hollywood going to lose out?
Beijing has ordered China’s cinemas to use the box office this year to spread propaganda celebrating the Communist Party. The country’s…
Continue ReadingPeloton recall to cost company $165 million in lost sales
Peloton is estimating its treadmill recall will cost the company about $165 million in lost revenue during the the current quarter, and result in a…
Continue ReadingBiden’s Wall Street cop is putting Robinhood on notice
Gary Gensler, the newly installed chairman of the Securities and Exchange Commission, put Robinhood and Citadel Securities on notice Thursday about a…
Continue ReadingMajor Tesla investor dumps a big chunk of shares
A major shareholder in Tesla has become bearish about the company. Scottish fund manager Baillie Gifford & Co. sold 11.1 million shares of Tesla…
Continue ReadingJamie Dimon calls Biden’s tax hike plan ‘a little crazy’
Several top business leaders have backed President Joe Biden’s plan to raise taxes on large corporations and the wealthy and spend more on…
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