• Jerome Powell is going to do whatever it takes to stamp out inflation, even if it means causing a recession Link
    Businessweek Tue 09 Aug 2022 10:04

    Let’s say you come home and there’s a gorilla sitting on the couch in your nicely appointed living room. You are partly to blame for leaving the door unlocked, but world events have also conspired to let him in the door.

    You are carrying a baseball bat. But you know that getting into a fight with an unruly 300-pound beast is going to wreck the house. You try nudging him out the door without creating a lot of collateral damage, but that doesn’t work. So now it’s clear that some furniture is going to get broken.

  • A procedure pioneered by a brain-computer interface startup will help an ALS patient text by thinking—representing a major step forward in a nascent industry Link
    Businessweek Tue 09 Aug 2022 09:33

    On July 6 a doctor at the Mount Sinai West medical center in New York threaded a 1.5-inch-long implant made up of wires and electrodes into a blood vessel in the brain of a patient with ALS, or amyotrophic lateral sclerosis. The hope is that the patient, who’s lost the ability to move and speak, will be able to surf the web and communicate via email and text simply by thinking—the device will translate his thoughts into commands sent to a computer.

  • A 3M factory spewed “forever chemicals” for decades, polluting the land, water, and people living near it. Now a fight is unfolding over how to clean up the toxic mess Link via @BW
    Businessweek Tue 09 Aug 2022 08:33
    The fight over a tunnel project in Antwerp has revealed extraordinary levels of toxins in the water, soil, and people near the company’s factory. This time there could be criminal charges.
  • RT @technology: ?LIVE NOW: The world's smartphone market is having a year to forget, largely because sales in China have cratered. Join us…
    Businessweek Tue 09 Aug 2022 08:08
  • Coinbase pledged to bring "more economic freedom to the world." But an insider trading allegation highlights some problems with the company's embrace of more volatile currencies Link
    Businessweek Tue 09 Aug 2022 08:03
    banned from engaging in activism at work, he announced, and should refrain from advocating for political and social issues in the office. Anyone who disagreed would be asked to resign, and the only workplace politics allowed in the future would be related to Coinbase’s “mission,” which was “building the most trusted and easiest to use financial products that help people access the cryptoeconomy.” This, he said, would “bring more economic freedom to the world.”

    Armstrong’s message led to some resignations, and tons of media coverage ahead of Coinbase’s public stock listing. Detractors, including former Twitter CEO

  • RT @technology: ?In 30 minutes: The world's smartphone market is having a year to forget, largely because sales in China have cratered. Joi…
    Businessweek Tue 09 Aug 2022 07:43
  • The crypto industry has spent a combined $2.4 billion on sports sponsorships and endorsements in the last 18 months Link
    Businessweek Tue 09 Aug 2022 07:33

    For fans of professional sports, the insistent overtures from the crypto industry have become almost impossible to miss: The names of exchanges and blockchain companies are emblazoned on team jerseys, plastered on stadiums, and beckoning from halftime TV commercials. They’re talked up by prominent players who enjoy lucrative endorsement deals.

    This nascent band of businesses has moved aggressively since last year to match the advertising muscle of beer brands, carmakers, telecom service providers, and other stalwart sports sponsors.

  • RT @pelstrom: Exclusive: China's leadership is growing frustrated with progress in the domestic chip industry, leaving it vulnerable to US…
    Businessweek Tue 09 Aug 2022 07:18
  • Money managers are selling insurance against sudden market drops, but the strategy doesn’t always pay off when the market falls Link
    Businessweek Tue 09 Aug 2022 07:03

    An increasingly popular sales pitch on Wall Street goes like this: If you’ve insured your home against some disaster, or even a total loss, shouldn’t you do the same for your investment portfolio? In the case of a house or apartment, the danger would be fire, flooding, or perhaps a devastating storm. In the financial markets, it might be a sudden spike in volatility and a rapid decline in prices that wipes out months if not years of gains.

    For investors of all stripes, from the most august institution to the scrappiest day trader, the current maelstrom of sustained inflation, never-ending pandemic, war, rapidly rising interest rates, swooning tech stocks, and crypto collapse—what economic historian Adam Tooze calls a

  • As embryos gain new 'personhood' protections, families who rely on IVF are bracing for battle Link
    Businessweek Tue 09 Aug 2022 06:33
    overturned Roe v. Wade and ended the legal right to abortion in America. The next year would be a crucial one for making partner at her law firm, and she already had a 16-month-old daughter at home. Not to mention that, after two years of infertility, followed by the difficult process of IVF and then new parenthood, she’d been looking forward to a relaxing summer: family beach trips, a vacation with her girlfriends, watching her daughter’s budding personality take shape.

  • Unlike the price bubble that triggered the 2008 financial crisis and left millions of foreclosed homes in its wake, the housing market is dealing with an affordability crisis Link
    Businessweek Tue 09 Aug 2022 06:02
    laying off employees by the hundreds.

    Unlike the exploding home price bubble that triggered the 2008 financial crisis and left millions of foreclosed properties in its wake, this is an affordability crisis. The biggest risk to the economy now is a deep and prolonged sales slump that could give the $4 trillion industry a starring role once again in the

  • Apprenticeships are undergoing a renaissance in the US as more companies tap younger people to fill skilled jobs Link
    Businessweek Tue 09 Aug 2022 05:32

    Like most 18-year-olds, Kyler Kennard didn’t know what he wanted to do with the rest of his life. So after graduating from high school he put off college and took a job as a technician at a subsidiary of Canon U.S.A. Inc., a division of imaging company Canon Inc., near his home in the Dallas suburbs.

    Kennard had already been preparing for a career in media technology through a youth apprenticeship program at his high school. He says his job at Canon pays $20 an hour and comes with good benefits—a lot more enticing than his other options, driving for

  • A pair of robbers allegedly used real estate listings and open houses to target the homes of LA's rich and famous, stealing millions of dollars in designer goods Link
    Businessweek Tue 09 Aug 2022 05:02

    In a stunning crime spree, a pair allegedly stole millions of dollars in watches, bags, and other luxury items from celebrities, the fabulously wealthy, and even friends. Their trial begins on Aug. 25.

  • Toymakers are developing products just for adults after grown-ups helped fuel a surge in toy sales during the pandemic Link
    Businessweek Tue 09 Aug 2022 04:32

    Chloe Dykstra’s seven Razor scooters have entertained her throughout the pandemic. During lockdown, she also occupied herself building a Lego typewriter. Now she’s eyeing a Sea-Monkeys Aquarium pet hatching kit. Although the toys were designed for kids, that doesn’t bother Dykstra, a 33-year-old writer and producer in Los Angeles. “Sometimes taking care of yourself looks like going back to childhood a little bit,” she says.

    A cohort of shoppers like Dykstra—dubbed “kidults” by toy industry insiders—have helped US toy sales surge 37% over two years, to $28.6 billion in 2021, according to data tracker

  • Abortion bans will unravel decades of economic progress in the US Link
    Businessweek Tue 09 Aug 2022 03:27

    Fear is like acid on the brain, etching memories that remain long after you’ve forgotten things like the formula for photosynthesis or your first boyfriend’s favorite band.

    More than a quarter century has gone by, but there’s so much I remember about that day in Miami: The tacky black satin sheets on the bed in the one-bedroom condo my boyfriend’s friend had loaned us for our weekend trip, the white glare of the sun outside, and the double line on the indicator window of the at-home pregnancy test I held in my hand.

  • The 100 wealthiest Americans have lost $622 billion since November—but they're still a lot richer than they were before the pandemic Link https://t.co/rDcuIbxve1
    Businessweek Tue 09 Aug 2022 03:01

    In the early days of the pandemic, when markets plunged and 22 million Americans lost their jobs, Congress and the Federal Reserve sprang into action to stabilize an economy at risk of buckling. After trillions of dollars of Covid-19 relief cash and a monsoon of cheap federally sponsored loans, US households are sitting on

  • Americans have taken for granted just how much women contribute to the economy. Abortion bans puts all those gains at risk Link
    Businessweek Tue 09 Aug 2022 02:46

    Fear is like acid on the brain, etching memories that remain long after you’ve forgotten things like the formula for photosynthesis or your first boyfriend’s favorite band.

    More than a quarter century has gone by, but there’s so much I remember about that day in Miami: The tacky black satin sheets on the bed in the one-bedroom condo my boyfriend’s friend had loaned us for our weekend trip, the white glare of the sun outside, and the double line on the indicator window of the at-home pregnancy test I held in my hand.

  • Podcast guests can sometimes pay big bucks to be interviewed on popular shows, a practice particularly common in the wellness, cryptocurrency, and business genres Link
    Businessweek Tue 09 Aug 2022 01:46

    People will confess all sorts of things to podcasters, from their unpopular political beliefs or embarrassing romantic mishaps to their worst fears. But there’s one revelation certain guests will never disclose—namely, that they’re paying thousands of dollars just to be interviewed on the show.

  • Corporate America has its own version of the great stagflation story Link
    Businessweek Tue 09 Aug 2022 01:41
    Kraft Heinz. The details were different in each case—some reported sharp volume declines, and others came in unchanged—but the broad trend was crystal clear: Output growth is dead, prices have been jacked up, and revenue is, as a result, rising moderately.

  • NEW: One of the hottest bond markets of the past decade is imploding in China — and offshore investors are swallowing almost all of the losses. Read the Big Take ?? Link
    Businessweek Tue 09 Aug 2022 01:36

    When investor demand for Chinese property debt was approaching its peak back in 2018, a banker could pull together the makings of a multi-million dollar deal during a Saturday boat trip around Hong Kong’s harbor and barely look up from her drink while doing it.

    Now, the $203 billion market—which once yielded several deals a week and padded portfolios across the world from Pimco to UBS—is all but dead. And offshore investors are swallowing almost all of the losses. 

  • The crypto industry has spent a combined $2.4 billion on sports sponsorships and endorsements in the last 18 months Link
    Businessweek Tue 09 Aug 2022 01:06

    For fans of professional sports, the insistent overtures from the crypto industry have become almost impossible to miss: The names of exchanges and blockchain companies are emblazoned on team jerseys, plastered on stadiums, and beckoning from halftime TV commercials. They’re talked up by prominent players who enjoy lucrative endorsement deals.

    This nascent band of businesses has moved aggressively since last year to match the advertising muscle of beer brands, carmakers, telecom service providers, and other stalwart sports sponsors.

  • RT @BloombergAU: Australia’s top economic agencies are collaborating on a project to review the case for a central bank digital currency in…
    Businessweek Tue 09 Aug 2022 00:16
  • Mark Zuckerberg is painting Facebook as an underdog facing an existential crisis, even as the company continues to bring in billions of dollars Link
    Businessweek Tue 09 Aug 2022 00:11
    swallowing up startups in a nascent field he hopes to dominate. Zuckerberg has used those tactics to great success for more than a decade. I’m talking about his attempt to present
  • The real value in Amazon's $1.7 billion deal for Roomba maker iRobot? Mapping your home Link
    Businessweek Tue 09 Aug 2022 00:06
    iRobot Corp., the maker of the Roomba vacuum cleaner. And yes, Amazon will make money from selling those gadgets. But the real value resides in those robots’ ability to map your house. As ever with Amazon, it’s all
  • Female pilots are no longer a rarity in India, making the country a success story when it comes to diversity in the airline industry Link
    Businessweek Mon 08 Aug 2022 22:40

    Nivedita Bhasin became the world’s youngest commercial airline captain in 1989, but the Indian pilot still recalls her early years when other crew would urge her to rush into the cockpit so passengers wouldn’t get nervous at the sight of a woman flying their plane.

    Three decades after Bhasin’s career began, female pilots are no longer a rarity in India, making the country a success story when it comes to diversity in the airline industry. India has the highest percentage of female pilots globally, the

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