What if China no longer needs Hollywood? That’s bad news for the film industry
America has been the king of the box office for, well, forever. Not anymore. In 2020, China overtook the United States to become the top movie market…
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McDonald’s sales took a hit from Covid-19 restrictions
McDonald’s US sales popped in the fourth quarter as guests spent more per order, but international sales took a hit from lockdowns related to…
Continue ReadingLast year’s American economy shrank the most since 1946
The US economy grew at an annualized and seasonally adjusted rate of 4% in the fourth quarter of 2020, just as economists had predicted, the Commerce…
Continue ReadingAnother 847,000 Americans filed for unemployment benefits in Joe Biden’s first week as president
America’s unemployment crisis is now President Joe Biden’s problem, and jobless claims in his (partial) first week as president show how…
Continue ReadingEurope has a vaccine shortage. So why is it fighting with AstraZeneca?
The European Union has been locked in a very public and acrimonious fight with AstraZeneca over vaccine delays. The temperature may have cooled…
Continue ReadingGameStop continues to surge — now up 2,500% this year
So much for what goes up must come down. GameStop continued to defy gravity Thursday. Shares soared another 30% in premarket trading thanks to…
Continue ReadingChipotle is testing curbside pickup
Chipotle is testing curbside pickup at 29 locations in California to give customers a way to get their tacos and burritos without having to go inside…
Continue ReadingToyota overtakes Volkswagen as world’s biggest automaker
Toyota is back on top. The Japanese company has reclaimed its place as the world’s best-selling automaker, with its latest results showing an…
Continue ReadingSteamy period drama ‘Bridgerton’ is Netflix’s ‘biggest series ever’
Netflix has just claimed its biggest hit ever with “Bridgerton,” a drama set in Britain in the early 1800s. Some 82 million households…
Continue ReadingAnalysis: After building a radicalization engine, Mark Zuckerberg aims to ‘turn down the temperature’
A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Mark Zuckerberg built…
Continue ReadingEverything you need to know about how a Reddit group blew up GameStop’s stock
The GameStop frenzy on Wall Street has investors, and much of the internet, enraptured — not unlike a good horror movie. Everyone knows doom is…
Continue ReadingTesla disappoints Wall Street despite strong profits
Tesla capped its breakout year with a record profit that still fell short of analysts forecasts, sending its shares lower in after-hours trading. The…
Continue ReadingAMC is today’s GameStop. A Reddit mob sent its stock more than 200% higher
Welcome to the Reddit market. A group on Reddit’s Wall Street Bets board have been promoting a number of stocks, hoping to squeeze short…
Continue ReadingFed warns of a slowing recovery, leaves rates unchanged
The Federal Reserve left interest rates unchanged Wednesday and again stressed it would use its “full range of tools” to support the US…
Continue ReadingNo, Joe Biden didn’t just ban fracking
President Joe Biden is cracking down on the oil-and-gas industry, but he is not taking the extreme steps the Trump campaign claimed he would last…
Continue ReadingBen & Jerry’s co-founders want to make it easier to sue cops who abuse their authority
Ben & Jerry’s two co-founders want to make it easier for Americans to sue police officers who abuse their authority, a move that reform…
Continue ReadingFacing back-to-back crises, Boeing posts a record loss
Boeing closed the books on its worst year ever, posting record losses and plunging sales on the backs of combined crises: the Covid-19 pandemic and…
Continue ReadingBen & Jerry’s wants to make it easier to sue cops who abuse their authority
Ben & Jerry’s two co-founders want to make it easier for Americans to sue police officers who abuse their authority, a move that reform…
Continue ReadingJerome Powell and Janet Yellen aren’t worried about inflation. Maybe they should be
Federal Reserve chair Jerome Powell and his predecessor Janet Yellen, now the first woman to serve as Treasury secretary, are both known for their…
Continue ReadingEU and AstraZeneca fight over vaccine delays while death toll mounts
A war of words between the European Union and AstraZeneca escalated on Wednesday as the two sides argued in public over coronavirus vaccine delays…
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