• Your coffee could get more expensive. Here’s why: Link
    DealBook Mon 16 Aug 2021 22:03

    Climate shocks in Brazil and shipping bottlenecks have pushed the price of coffee beans higher — and farmers and roasters are feeling the effects.

    That also means your coffee could get more expensive. Here’s why ?

  • The cost of coffee beans is up nearly 44% in 2021, pushed by extreme weather in Brazil, pandemic-related shipping bottlenecks and political protests that stalled exports from Colombia. Link
    DealBook Mon 16 Aug 2021 22:03

    Roblox earnings: The gaming platform, which went public in March, is set to report its second-quarter financial results. Investors will see whether people are spending less time online as pandemic restrictions ease.

    New York vaccine mandate: New York will become the first U.S. city to require proof of at least one dose of a coronavirus vaccine for a variety of activities, including indoor dining.

  • Antitrust activity is heating up this summer. Link
    DealBook Mon 16 Aug 2021 22:03

    Roblox earnings: The gaming platform, which went public in March, is set to report its second-quarter financial results. Investors will see whether people are spending less time online as pandemic restrictions ease.

    New York vaccine mandate: New York will become the first U.S. city to require proof of at least one dose of a coronavirus vaccine for a variety of activities, including indoor dining.

  • The activist short-seller behind Hindenburg Research has become known for publishing reports that alert investors to potential malfeasance, sending a company’s stock sinking. He says he’s not in it just to move share prices. Link
    DealBook Mon 16 Aug 2021 22:03

    Last month, federal authorities charged the founder of the electric vehicle manufacturer Nikola, which had gone public in the summer of 2020, with defrauding investors. They were led there partly by the work of a little-known Wall Streeter named Nathan Anderson.

    A stock researcher and investor, Mr. Anderson and his upstart firm, Hindenburg Research, are having a moment. In early August, the Securities and Exchange Commission subpoenaed the sports betting firm DraftKings after Hindenburg said in a June report that it had potentially enabled black-market betting. And shares of Lordstown Motors have fallen nearly 70 percent since Hindenburg said in March that the electric truck maker was hyping commercial interest for its vehicle. Federal authorities are investigating Lordstown’s claims.

    Mr. Anderson’s five-person firm, which takes its name from the German airship that blew up in 1937, is a newbie in the world of finance. Founded in 2017, Hindenburg specializes in...

  • More bad news for Boeing's Starliner spacecraft. Link
    DealBook Mon 16 Aug 2021 21:13
    The Starliner spacecraft was rolled to the launchpad atop an Atlas 5 rocket earlier in the month. Boeing is recalling the astronaut capsule to the factory to troubleshoot hardware problems.Credit...Aubrey Gemignani/NASA
  • As Treasury secretary, Janet Yellen will be a critical voice in deciding who ought to lead the central bank in what some see as a once-in-a-generation opportunity to remake an institution that shepherds America’s economy and regulates its largest banks. Link
    DealBook Mon 16 Aug 2021 19:53

    As Jerome H. Powell nears the end of his term as Federal Reserve chair, Ms. Yellen will have a say over whether he should stay on. Many progressive Democrats want him replaced.

  • Boeing’s Starliner spacecraft has been recalled to the factory because of sticky valves. That's a further setback for a program at NASA that has caused financial losses for the aerospace giant. Link
    DealBook Mon 16 Aug 2021 18:33
    The Starliner spacecraft was rolled to the launchpad atop an Atlas 5 rocket earlier in the month. Boeing is recalling the astronaut capsule to the factory to troubleshoot hardware problems.Credit...Aubrey Gemignani/NASA
  • “It’s like a country is making food for the world and sees its food being shipped off to high-resource settings while its citizens starve," said Dr. Glenda Gray, a South African scientist who helped lead Johnson & Johnson’s clinical trial there. Link
    DealBook Mon 16 Aug 2021 17:13

    Johnson & Johnson’s Covid vaccine was supposed to be one of Africa’s most important weapons against the coronavirus.

    The New Jersey-based company agreed to sell enough of its inexpensive single-shot vaccine to eventually inoculate a third of the continent’s residents. And the vaccine would be produced in part by a South African manufacturer, raising hopes that those doses would quickly go to Africans.

    That has not happened.

    South Africa is still waiting to receive the overwhelming majority of the 31 million vaccine doses it ordered from Johnson & Johnson. It has administered only about two million Johnson & Johnson shots. That is a key reason that fewer than 7 percent of South Africans are fully vaccinated — and that the country was devastated by the Delta variant.

    At the same time, Johnson & Johnson has been exporting millions of doses that were bottled and packaged in South Africa for distribution in Europe, according to executives at...

  • In today's DealBook: the fallout of the Taliban takeover of Afghanistan; @el72champs digs into research on the gender gap among lead lawyers on M&A deals; the short-selling research firm that is making waves; and more. Link
    DealBook Mon 16 Aug 2021 13:33

    The 20-year American era in Afghanistan came to a swift, shocking close yesterday as the Taliban seized the capital, Kabul. Afghanistan’s president fled the country, and a council of Afghan officials pledged to negotiate with the insurgents.

    Amid panic and chaos, observers feared the effect that the takeover would have on people in one of the poorest nations in the world. The sudden turnaround also has significant geopolitical implications, as U.S. influence in the region fades and China, Iran, Russia and others step in.

    What’s next for the Afghan economy? Battered by war and propped up by U.S. aid, some 90 percent of Afghanistan’s population lives on less than $2 a day. A June report by the Congressional Research Service said that the outlook for Afghanistan’s economy was uncertain, at best, and that was before the Taliban takeover that followed the withdrawal of U.S. troops.

    The country’s mineral reserves are estimated to be worth up to $3 trillion, with a...

  • Your Work Friend writes that there are alternatives to a 40-hour week, but there is no magical way to earn a full-time salary without working full time. Link
    DealBook Sun 15 Aug 2021 10:46

    I am 27. In the last year, I landed my dream job. My job has purpose. My skills and qualifications are used and challenged. My co-workers and supervisors are unparalleled but alas: 40 hours a week is not sustainable. I have hobbies. I have creative pursuits and therapy and laundry, and I own a small dog, so I am busy. My partner and I are considering starting a family in a few years. Because I already feel like there is not enough time in the week, I wonder what getting away from the 40-hour workweek looks like. I have considered self-employment, trying out the artist lifestyle, going back into academia, mildly rejecting capitalism, but maybe I should just get over it? Thoughts?

    — Brit, Indianapolis

  • A new report suggests that the economic return in certain fields may be “limited,” perhaps because available jobs pay too little or offer unstable career opportunities. Link
    DealBook Sun 15 Aug 2021 09:16

    Most four-year degrees pay off by paving the way for graduates to recoup the cost of their education relatively quickly, a new analysis finds. But that’s particularly true for some programs, while others may offer little economic advantage over a high school diploma.

    The findings are part of a report on some 38,000 post-high school degree and certificate programs published this week by Third Way, a center-left public policy group. The report analyzed data collected for the federal Education Department’s “College Scorecard” tool to measure the “return on investment” offered by various higher education programs.

    The report found that almost two-thirds of the 26,000 bachelor’s degree programs in the study enabled a majority of their graduates to make enough money to recover their costs in 10 years or less after graduation.

    Bachelor’s degree programs, which typically take four years, are generally more expensive but are most likely to show at least some return on...

  • We’re not always able to clap back; it depends on power dynamics, your Work Friend writes. Link
    DealBook Sun 15 Aug 2021 07:46

    I am 27. In the last year, I landed my dream job. My job has purpose. My skills and qualifications are used and challenged. My co-workers and supervisors are unparalleled but alas: 40 hours a week is not sustainable. I have hobbies. I have creative pursuits and therapy and laundry, and I own a small dog, so I am busy. My partner and I are considering starting a family in a few years. Because I already feel like there is not enough time in the week, I wonder what getting away from the 40-hour workweek looks like. I have considered self-employment, trying out the artist lifestyle, going back into academia, mildly rejecting capitalism, but maybe I should just get over it? Thoughts?

    — Brit, Indianapolis

  • Newer generations see “that the contract for employment is broken and say, ‘That’s not for me,’” Upwork’s chief executive tells @dgelles. Link
    DealBook Sun 15 Aug 2021 06:16

    Hayden Brown grew up with parents who were out to change the world. Her mother worked on women’s empowerment issues, and her father helped develop a national park in the Himalayas. For a time, the family lived in Nepal.

    “It really instilled in me the value of spending one’s life doing work that has a real impact on others,” she said. “To this day, that is my parents’ ethos.”

    Ms. Brown wanted to make a difference, too, but resolved to do it in the private sector rather than in the nonprofit world. That led her to the consultant McKinsey & Company, and ultimately to Upwork, a site that matches freelancers with employers. Ms. Brown joined the company 10 years ago, and became chief executive in January 2020, just as the pandemic hit.

    To hear Ms. Brown tell it, Upwork is making the world a better place, one freelance job at a time. Those advertising their skills on the site are not gig workers like Uber drivers or TaskRabbit handymen, but rather accountants,...

  • In the weekend edition of the DealBook newsletter: During the pandemic, some companies have expanded their vacation policies to reduce burnout. Experts say there’s a better way.
    DealBook Sat 14 Aug 2021 18:51
  • Arthur Blank, who also owns the Atlanta Falcons, put more money and resources into a mentoring program after seeing how the pandemic disproportionately affected poor children. Link
    DealBook Sat 14 Aug 2021 18:16
    Bernardo Little Jr., a junior at Cristo Rey Atlanta Jesuit High School in Georgia, took part in a mentorship program funded by Arthur Blank, a co-founder of Home Depot.Credit...Aboubacar Kante for The New York Times
  • “I believe,” Arthur Blank said, “in leveling the playing field as much as I can.” Link
    DealBook Sat 14 Aug 2021 16:46
    Bernardo Little Jr., a junior at Cristo Rey Atlanta Jesuit High School in Georgia, took part in a mentorship program funded by Arthur Blank, a co-founder of Home Depot.Credit...Aboubacar Kante for The New York Times
  • Almost two-thirds of the bachelor’s degree programs in a study enabled most of their graduates to recover their costs in 10 years or less after graduation. Link
    DealBook Sat 14 Aug 2021 15:16

    Most four-year degrees pay off by paving the way for graduates to recoup the cost of their education relatively quickly, a new analysis finds. But that’s particularly true for some programs, while others may offer little economic advantage over a high school diploma.

    The findings are part of a report on some 38,000 post-high school degree and certificate programs published this week by Third Way, a center-left public policy group. The report analyzed data collected for the federal Education Department’s “College Scorecard” tool to measure the “return on investment” offered by various higher education programs.

    The report found that almost two-thirds of the 26,000 bachelor’s degree programs in the study enabled a majority of their graduates to make enough money to recover their costs in 10 years or less after graduation.

    Bachelor’s degree programs, which typically take four years, are generally more expensive but are most likely to show at least some return on...

  • Gone are the days when most people worked for one company for their entire careers, the CEO of Upwork says. Link
    DealBook Sat 14 Aug 2021 12:16

    Hayden Brown grew up with parents who were out to change the world. Her mother worked on women’s empowerment issues, and her father helped develop a national park in the Himalayas. For a time, the family lived in Nepal.

    “It really instilled in me the value of spending one’s life doing work that has a real impact on others,” she said. “To this day, that is my parents’ ethos.”

    Ms. Brown wanted to make a difference, too, but resolved to do it in the private sector rather than in the nonprofit world. That led her to the consultant McKinsey & Company, and ultimately to Upwork, a site that matches freelancers with employers. Ms. Brown joined the company 10 years ago, and became chief executive in January 2020, just as the pandemic hit.

    To hear Ms. Brown tell it, Upwork is making the world a better place, one freelance job at a time. Those advertising their skills on the site are not gig workers like Uber drivers or TaskRabbit handymen, but rather accountants,...

  • It has never been a better time to eat ice cream or a more cutthroat time to try to sell it. Link
    DealBook Sat 14 Aug 2021 08:50

    Put the ice cream near the cash registers.

    That is traditional grocery store wisdom, mainly so the product won’t melt in the cart as it winds through the aisles.

    For shoppers worn down by the journey through a hangar-size Whole Foods, it’s also a reward: an ultradecadent bounty in an ever-multiplying variety of daring and imaginative flavors.

    It has never been a better time to eat ice cream or a more cutthroat time to try to sell it.

    Fueled by pandemic trends of “at-home comfort” and “anytime eating,” the $7 billion industry grew 17 percent in 2020, after roughly 2.4 percent annual growth over the previous decade, said Jennifer Mapes-Christ of the market research firm Packaged Facts. Artisan ice cream — a “squishy” term, she said, that usually refers to product with less air and more fat but “mostly just means ‘fancy’” — is growing even faster than mainstream ice cream and is considered the industry’s future.

    Small, indie producers like Jennifer...

  • While weddings have not quite returned to normal for 2021, they are rebounding quickly, @jeannasmialek writes. Link
    DealBook Sat 14 Aug 2021 07:30

    Meg Van Dyke, who runs a Pittsburgh wedding planning company, spent a recent weeknight frantically calling photographers for a May 2022 wedding. All eight who fit her couple’s criteria were fully booked.

    “I’ve never had a problem finding vendors before,” she said. “It’s absolutely booming.”

    Weddings are roaring back after a pandemic-induced slump, leading to booked-up venues, a dearth of photographers and rising prices on catered dinners. As demand picks up, it’s providing an additional jolt of spending to the U.S. economy.

    The race to the aisle is payback after a lost year of ceremonies. As lockdowns swept the nation, weddings slowed abruptly at the onset of the pandemic. Shane McMurray, founder of The Wedding Report, estimates that 1.3 million marriages took place in the United States last year, compared with the typical 2.1 million. Those were often “micro-weddings,” according to industry insiders, with just a handful of guests, if any were present at...

  • A muchos de los casi tres millones de trabajadores de entre 55 y 70 años que dejaron sus empleos desde marzo de 2020 en Estados Unidos, la jubilación pandémica ha causado dos traumas. Link
    DealBook Sat 14 Aug 2021 04:15
    Andrea Jones trabajó en el servicio al cliente de United Airlines durante 28 años y tuvo que jubilarse anticipadamente para proteger a su esposo de la COVID-19. “No estaba lista para irme, para nada”, dijo. “Me pegó justo entre los ojos”.Credit...Gili Benita para The New York Times
  • The race to the aisle is payback after a lost year of ceremonies. Link
    DealBook Sat 14 Aug 2021 01:15

    Meg Van Dyke, who runs a Pittsburgh wedding planning company, spent a recent weeknight frantically calling photographers for a May 2022 wedding. All eight who fit her couple’s criteria were fully booked.

    “I’ve never had a problem finding vendors before,” she said. “It’s absolutely booming.”

    Weddings are roaring back after a pandemic-induced slump, leading to booked-up venues, a dearth of photographers and rising prices on catered dinners. As demand picks up, it’s providing an additional jolt of spending to the U.S. economy.

    The race to the aisle is payback after a lost year of ceremonies. As lockdowns swept the nation, weddings slowed abruptly at the onset of the pandemic. Shane McMurray, founder of The Wedding Report, estimates that 1.3 million marriages took place in the United States last year, compared with the typical 2.1 million. Those were often “micro-weddings,” according to industry insiders, with just a handful of guests, if any were present at...

  • The business of gourmet ice cream is go big or melt. Link
    DealBook Fri 13 Aug 2021 23:45

    Put the ice cream near the cash registers.

    That is traditional grocery store wisdom, mainly so the product won’t melt in the cart as it winds through the aisles.

    For shoppers worn down by the journey through a hangar-size Whole Foods, it’s also a reward: an ultradecadent bounty in an ever-multiplying variety of daring and imaginative flavors.

    It has never been a better time to eat ice cream or a more cutthroat time to try to sell it.

    Fueled by pandemic trends of “at-home comfort” and “anytime eating,” the $7 billion industry grew 17 percent in 2020, after roughly 2.4 percent annual growth over the previous decade, said Jennifer Mapes-Christ of the market research firm Packaged Facts. Artisan ice cream — a “squishy” term, she said, that usually refers to product with less air and more fat but “mostly just means ‘fancy’” — is growing even faster than mainstream ice cream and is considered the industry’s future.

    Small, indie producers like Jennifer...

  • A new report measures the "return on investment" offered by various college degrees. Link
    DealBook Fri 13 Aug 2021 18:55

    Most four-year degrees pay off by paving the way for graduates to recoup the cost of their education relatively quickly, a new analysis finds. But that’s particularly true for some programs, while others may offer little economic advantage over a high school diploma.

    The findings are part of a report on some 38,000 post-high school degree and certificate programs published this week by Third Way, a center-left public policy group. The report analyzed data collected for the federal Education Department’s “College Scorecard” tool to measure the “return on investment” offered by various higher education programs.

    The report found that almost two-thirds of the 26,000 bachelor’s degree programs in the study enabled a majority of their graduates to make enough money to recover their costs in 10 years or less after graduation.

    Bachelor’s degree programs, which typically take four years, are generally more expensive but are most likely to show at least some return on...

  • One of the co-founders of Home Depot said he decided during the pandemic to donate to a mentorship program for teenagers because "they don't always have the tools to deal what's happened to them." Link
    DealBook Fri 13 Aug 2021 17:35
    Bernardo Little Jr., a junior at Cristo Rey Atlanta Jesuit High School in Georgia, took part in a mentorship program funded by Arthur Blank, a co-founder of Home Depot.Credit...Aboubacar Kante for The New York Times
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