WWTOPAS
- ECONOMY
What Happened When Evanston Became America’s First City to Promise Reparations
(Bloomberg Businessweek) — Lucious Sutton disconnected the water line, the gas line, and the sewer line for the home he’d…
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Carmakers Forced by Chip Crisis to Rethink Just-In-Time Ordering
(Bloomberg) — A century after automakers showed the world the value of assembly-line manufacturing, a shortage of semiconductors is teaching…
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India Says Twitter Tries to ‘Dictate Terms’ in Largest Democracy
(Bloomberg) — The Indian government accused Twitter Inc. of attempting to “dictate terms to the world’s largest democracy” and “defame…
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Florida Cruise Tests Rules; U.K. Opening in Doubt: Virus Update
(Bloomberg) — Royal Caribbean Cruises Ltd. said it had been cleared to resume cruises in the U.S. starting with a…
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Digital Bank Upstarts Are Years Away From Profits in Hong Kong
(Bloomberg) — Hong Kong’s virtual banks are facing years of red ink on the bottom line after making limited inroads…
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HP Inc. Gives Upbeat Forecast, Fueled by Continuing Laptop Boom
(Bloomberg) — HP Inc. forecast robust profit gains for the current period, indicating consumers are continuing to spend on personal…
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Big Business Loses a Political Home Amid Its Feud With the GOP
(Bloomberg Businessweek) — Big business broke with President Donald Trump over tariffs and immigration and resented his Twitter attacks on…
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Cathie Wood’s Bad Spring Is Only a Blip When the Future Is So Magnificent
(Bloomberg Businessweek) — In the weirdest year of our lives, the rise of Cathie Wood is hardly the weirdest thing…
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Taiwan Proposes Doubling Extra Stimulus to Boost Ailing Economy
(Bloomberg) — Taiwan’s ruling party said it plans to double a proposed increase in stimulus funding as the economy reels…
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Australian City Enters Its Fourth Lockdown as Virus Returns
(Bloomberg) — Melbourne, the Australian city that’s already endured one of the world’s longest and most stringent lockdowns, is ordering…
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SoftBank’s Top 8 Executives Made $64 Million After Record Profits
(Bloomberg) — SoftBank Group Corp. once again demonstrated its willingness to pay the highest compensation in Japan, with eight top…
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Covid Origin Hunt Ordered by U.S.; EU Rips Astra: Virus Update
(Bloomberg) — President Joe Biden said he ordered the U.S. intelligence community to “redouble” its effort to determine the origin…
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Casino Mogul Steve Wynn Must File as Foreign Agent, U.S. Says
(Bloomberg) — The U.S. Justice Department has told former casino magnate Steve Wynn to register as a foreign lobbyist for…
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Bank CEOs Take Punches From Democrats, Warnings From Republicans
(Bloomberg) — Senator Elizabeth Warren called JPMorgan Chase & Co.’s Jamie Dimon “the star of the overdraft show.” Her Democratic…
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There’s a Big Change Underway in Bond Markets
Of course, there’s never much agreement when it comes to the term premium, from what it might mean for the rest…
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Icahn on Inflation, Investing, and What He Misses About NYC: Q&A
(Bloomberg) — Billionaire investor Carl Icahn has been a hard-charging shareholder activist for decades. At 83 years of age, he…
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ECB Probes Whether Goldman, Peers Are Still Too Tied to London
(Bloomberg) — The European Central Bank is stepping up scrutiny of global investment banks’ risk management within the region to…
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Central Banks Face New Balancing Act With Their Huge Asset Piles
(Bloomberg Markets) — Central bankers around the world are mulling the future of their massive bond-buying programs in a post-pandemic…
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WhatsApp Sues India Government Over New Internet Rules
(Bloomberg) — Facebook Inc.’s messaging platform WhatsApp has filed a lawsuit challenging Indian rules that would require the company to…
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Antibiotics for Covid Cases Worsen India’s Superbug Crisis
(Bloomberg) — Excessive use of the world’s most potent antibiotics has stoked drug-resistant infections in India for years. Now the…
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Hong Kong Plan for Unused Shots; Moderna for Teens: Virus Update
(Bloomberg) — Hong Kong may donate Covid-19 vaccines to countries more in need of them as local demand for Pfizer…
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Antibiotics for Covid Patients Worsen India’s Superbug Plight
(Bloomberg) — Excessive use of the world’s most potent antibiotics has stoked drug-resistant infections in India for years. Now the…
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U.S. Warns on Japan Travel; Seychelles Cases Drop: Virus Update
(Bloomberg) — The U.S. said Americans should avoid traveling to Japan, with the country under a state of emergency that…
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Pakistan Nears Debt-for-Nature Swap Agreement With Creditors
(Bloomberg) — Pakistan is closing in on a deal with bilateral creditors that would tie debt relief to the achievement…
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The Economy Is Booming. Why Don’t Firms Believe It?
The basic idea is that changes in the level of investment impact the level of present consumption at the same…
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Banking Tech Startup Is Unicorn With $250 Million From SoftBank
(Bloomberg) — Banking technology provider Zeta raised $250 million from SoftBank Vision Fund II at a valuation of $1.45 billion,…
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Planes Rerouted, Bonds Drop After Airport Arrest: Belarus Update
(Bloomberg) — Flights are being re-directed to avoid Belarusian airspace after the government in Minsk forced a Ryanair Holdings Plc…
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ByteDance’s Chief Rival Kuaishou Reveals 37% Sales Growth
(Bloomberg) — Kuaishou Technology reported a 37% gain in quarterly revenue, after TikTok-owner ByteDance Ltd.’s biggest Chinese rival delved deeper…
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U.S. Outbreak Slows as Concern Rises Over Variant: Virus Update
The spread of coronavirus in the U.S. continues to slow, with the country ending its first week since June with…
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Hong Kong Exchange’s New CEO Is Put on Cleanup Duty
(Bloomberg) — The veteran JPMorgan Chase & Co. banker who’s taking the helm at Hong Kong’s exchange has been put…
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Inside the Race to Avert Disaster at China’s Biggest ‘Bad Bank’
(Bloomberg) — It was past 9 p.m. on Financial Street in Beijing by the time the figure inside Huarong Tower…
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U.S. Cases Halve in a Month; Singapore Shuts Malls: Virus Update
Covid-19 cases and deaths in the U.S. continue to plunge, despite the slowed pace of vaccinations. The U.S. recorded almost…
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Summer Travel Will Require Picking Your Way Through a Maze of Border Rules
(Bloomberg) — Europe is slowly peeling back border restrictions set in place to stop the spread of Covid-19, providing an opening…
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Bubble Risks Test China’s Commitment to No Sharp Turn in Policy
(Bloomberg) — Despite Beijing’s best efforts, asset bubbles are forming in China. Home prices are soaring, prompting officials to revive…
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U.S. Cases Halve in a Month; Outbreak Hits Everest: Virus Update
Covid-19 cases and deaths in the U.S. continue to plunge, despite the slowed pace of vaccinations. The U.S. recorded almost…
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Solar Storms Are Back, Threatening Power Grids and Satellites
(Bloomberg) — A few days ago, millions of tons of super-heated gas shot off from the surface of the sun…
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China Releases Photo of Rover Probing Near Mars Landing Site
(Bloomberg) — China released another photograph from its spacecraft that landed on Mars, showing the Zhurong rover cruising along the…
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Summers Says Crypto Has Chance of Becoming ‘Digital Gold’
(Bloomberg) — Former U.S. Treasury Secretary Lawrence Summers said cryptocurrencies could stay a feature of global markets as something akin…
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Oregon Offers $1 Million; U.S. Enlists Dating Apps: Virus Update
(Bloomberg) — The White House is enlisting popular dating apps to encourage Americans to brandish their vaccination status in exchange…
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Arctic-Superpower Jostling Heats Up as Russia Takes on Key Role
(Bloomberg) — A battle of words between top Russian and U.S. diplomats this week is the latest sign of rising tensions…
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Snap, Rivals Power AR Advertising Boom to Woo Homebound Shoppers
(Bloomberg) — When American Eagle Outfitters Inc.’s in-person sales took a hit from the Covid-19 pandemic last year, the retailer decided…
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SoftBank’s First Female Director to Leave After Challenging Son
(Bloomberg) — SoftBank Group Corp. director Yuko Kawamoto plans to resign from the company’s board in June, removing an outspoken…
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SoftBank Director Who Challenged Son Is Leaving After One Year
(Bloomberg) — SoftBank Group Corp. director Yuko Kawamoto plans to resign from the company’s board in June, removing an outspoken…
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Key Areas Traders Watch Out for as Taiwan Lockdown Risk Looms
(Bloomberg) — Taiwan’s collapse from one of the world’s most successful Covid-19 containment stories rattled investors last week. Now, as…
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Biden Team Seeks Chip Information Sharing to Ease Supply Crunch
(Bloomberg) — Commerce Secretary Gina Raimondo said the Biden administration is exploring how to help semiconductor producers and buyers share…
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N.Y. Offers Lottery Tickets; EU Backs Certificates: Virus Update
(Bloomberg) — New York state will offer $20 scratch-off lottery tickets as a vaccine incentive, with a maximum payout of…
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Stay or Move to U.K.? Hong Kong Locals Face Hard Choice as China Reshapes City
(Bloomberg) — They’ll miss their parents, their favorite hiking spots and the chatter of their mother tongue on the streets. Some…
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Green Fuel Push Stirs Food Inflation Fears in Rebound From Virus
Demand for vegetable oils is growing so fast that North America will go from being a surplus region to facing shortfalls…
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More and More `Normies’ of Finance Are Getting ETH-Pilled
As a “normie” in the traditional finance world, I’m trying to remain intellectually open to the crypto space. There are…
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Apollo Doubles Its Money in $1 Billion Bet on Tarnished Colleges
(Bloomberg Businessweek) — Apollo Global Management Inc. is known for its no-holds-barred dealmaking. But not long ago, the private equity…
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