This Week In Business [beta]
Keep up with the stock market and the American economy.
Here is this week’s news in business and markets:
Tesla is betting big on bitcoin, saying it may soon accept the digital currency as payment for its cars. And the most valuable car company on the stock market said it is holding some of its cash in bitcoin rather than traditional currency.
Donald Trump’s businesses generated nearly 40% less revenue last year as the coronavirus pandemic slammed the hotel industry, putting the former president under financial pressure even before corporate partners and banks ditched him in the wake of the insurrection at the US Capitol.
President Joe Biden’s $1.9 trillion coronavirus relief plan would provide a third round of federal stimulus checks to millions of Americans. Yet while lawmakers on both sides of the aisle have expressed support for the proposal, there is less agreement on who should be eligible for the $1,400 direct payments.
The latest proposal would send $1,400 payments to individuals earning under $50,000 and $2,800 to married couples earning under $100,000.
The Department of Employment Services has been backlogged for months.
We made 18 stock recommendations at the beginning of the year. Here’s how they’ve done.
Even as the coronavirus was surging around the nation, Americans started millions more small businesses last year.
Booming business during the pandemic hasn’t always meant better wages, and they have largely been left off vaccine priority lists.
Newsmax settles a defamation lawsuit from a Dominion executive at the center of election conspiracy theories and issues an apology
An executive at Dominion Voting Systems moved to dismiss Newsmax as a defendant in a defamation lawsuit Friday after reaching a settlement with the right-wing media organization.
It’s the first such settlement from a news organization in a defamation lawsuit filed over 2020 election conspiracy theories.
Online brokerage Robinhood touts its willingness to lend money to customers so they can multiply their returns just like Wall Street pros, even likening investing with borrowed money to the thrill of riding a motorcycle. What the company doesn’t say is that its lending strategy has put clients — who tend to be younger and less experienced at playing the market — in financial peril even before many piled into the shares of struggling video game retailer GameStop in January.
Americans moved closer to family during the pandemic. What if they stay there?
Why the prices of both oil and the metals that seek to replace it are rising
An infrastructure plan won’t be enough to fix the inequities built into our neighborhoods, homes, and public spaces.
The market is very different from what the first Raptor saw over a decade ago.
“If Huawei’s production capacity can be expanded, that would mean more opportunities for U.S. companies,” Ren said.
The V-shaped recovery in the stock market is gathering serious momentum.
The S&P 500 is now 75% higher than its low point last March. The Nasdaq has more than doubled since its pandemic low. Tesla shares are up a staggering 900% over that span. And an army of traders on Reddit were able to send GameStop to the moon, at least for a few days.
An analysis by the nonpartisan Congressional Budget Office released Monday found that the $15 federal minimum wage bill proposed by Democrats would cut jobs for 1.4 million workers by 2025, but lift 900,000 people out of poverty.
Did we miss a good story or important event? Let us know, and share it with us in the comments section below.
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