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

The looters arrived late in the afternoon at Koh Ker, a ruined 10th century city in northern Cambodia. They made their way through scrubby jungle to Prasat Krachap, a compact stone temple dedicated to the Hindu god Shiva and his son Skanda. They walked carefully. The countryside was strewn with land mines, and on another expedition some of the looters had watched a wandering cow be blown up.

The maker of 215,000-euro ($219,460) Portofino and 1.6 million-euro Monza models will raise prices in the first quarter of next year, Chief Executive Officer Benedetto Vigna said on an earnings call Tuesday.

For all the innovation and debate around the art of coffee making, the basic premise of dousing freshly ground beans with hot water doesn’t change much.  But the Ground Control coffee machine is out to break a cardinal rule of coffee brewing: don’t reuse the grounds.

Turbocharging fast fashion’s business model has turned Shein into the face of the industry and one of the world’s top startups. But as

When the Swatch was born four decades ago, the plastic timepiece breathed new life into the staid Swiss watch industry, which was struggling to compete with cheap quartz models from Asia. By the early 1990s, Swatch sales soared to about 20 million a year as consumers snapped up the colorful designs that married Swiss-made precision with an affordable fun factor. That boost provided financial cover for the slow-motion comeback of struggling high-end manufacturers (Blancpain,

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.

Investigating authorities say that Henan Xincaifu Group Investment Holding Co., the main shareholder of five rural lenders, colluded with bank employees to steal about 40 billion yuan ($5.9 billion) in deposits and investments. They used online platforms to pull in depositors and fabricated lending agreements to transfer the money, the authorities say. (Xincaifu has ceased operations, and the banks involved have asked affected customers to register information with them online in order to

The aides in the Joe Biden administration aren’t known for rebelliousness. They rarely air grievances over their boss’s missteps—certainly not publicly, or to the press. There have been moments of crisis, of course, like the nationwide baby formula shortage or the wildly chaotic military pullout from Afghanistan. But they kept their heads down through those, enduring long hours and low pay to work for a president some hadn’t even initially supported in the Democratic primaries.

This time was different. The chatter started almost immediately after the US Supreme Court reversed the precedent that had protected nearly 50 years of legal abortion in the US. In text messages, over drinks, and at house parties, aides privately expressed anger that President Biden wasn’t responding with real action, or seemingly any sense of urgency, to the dismantling of Americans’ rights.

Russia’s military began sending large numbers of weapons and troops into Belarus in late January. The official purpose of the movement was a joint military exercise, but Belarus, which has a 650-mile border with Ukraine and a government closely aligned with Moscow, was also a logical staging point for Russian President Vladimir Putin to carry out an invasion.

Several days after the troops arrived weird things started happening to the computer systems that ran the Belarus national railway system, which the Russian military was using as part of its mobilization. Passengers gathered on train platforms near Minsk, the capital, watched as information screens flickered and normal messaging was replaced by garbled text and an error message. Malfunctioning ticket systems led to long lines and delays as damaged software systems caused trains to grind to a halt in several cities, according to railway employees and posts that circulated on Belarusian social media.

For decades, US households bailed out the global economy when it needed a consumer of last resort. America’s latest spending spree has come with a sting in the tail.

Stuck at home in the pandemic, people all over the world bought more goods—TV sets, laptops, and exercise bikes, to name a few—at the expense of services such as hotel rooms and gym memberships. The shift was significantly bigger in the US than in other rich countries.

Founded by Missett in 1969, the closely held company, which is based in Carlsbad, Calif., has grown to encompass 8,000 franchisees teaching 32,000 classes each week worldwide. Even as much of the fitness industry contracted during the Covid-19 pandemic, Jazzercise had revenue of $73 million last year. How then is it that an exercise business that harks back to the era of Jane Fonda workout tapes, neon spandex, and legwarmers remains here in 2022—and is thriving? It’s thanks to a...

Financial writer and social media influencer

In 2017, Martin Muoto got a call from his real estate agent about a four-unit building for sale on Budlong Avenue, in the heart of the South Central district of Los Angeles. The deal had “some hair on it,” the broker noted. The property was controlled by the 57 Neighborhood Crips gang, which was using it as a narcotics bazaar, according to a civil complaint filed against the owner in state court by the Office of the Los Angeles City Attorney. The dealers stashed the drugs inside the garage and met their customers in an outdoor stairwell, where they sold rock cocaine, smoked marijuana and drank alcohol, and played loud music day and night, the city alleged.

Muoto, who’d been scouring the area for properties for his development company,

Kenyans will head to the polls on Aug. 9 to choose a new president in a contest pitting fifth-time contender Raila Odinga against William Ruto, a challenger who’s anchored his campaign on a rags-to-riches story.

It’s poised to be one of the closest elections in Kenya’s three-decade-old multiparty democracy, largely because of the involvement of outgoing President Uhuru Kenyatta—the son of the country’s first president who’s been in power for nine years and wields considerable influence on domestic politics. The incumbent has reneged on a promise to back his 55-year-old deputy, Ruto, and has instead thrown his weight behind Odinga, a former prime minister. Odinga, 77, ran against Kenyatta in 2017 in a bitter election marred by violence, but the two later reconciled.

“Please stay clear of the flight line,” warns Keith Hyde, director of U.S. operations for Wing. Safety comes first on these two fenced-off acres at the dead end of Welcome Street in Christiansburg, Va., where Wing has since 2019 been running the first North American drone delivery service. The drones are electric vertical takeoff and landing (eVTOL, pronounced “ev-tol”) aircraft, so instead of a runway, they park on a grid of landing pads that double as charging stations. Three dozen of the pads are arranged on a gravel patch the size of a basketball court, each topped with a QR code large enough for an incoming drone to scan and confirm its touchdown location.

Some founders possess the capacity and drive to do exceptional things. Bloomberg New Economy’s 2022 class of Catalysts is a remarkable group of 28 people who are creating more equitable, inclusive, and sustainable outcomes. The legacy of our old economy is a world imperiled by climate transformation, with communities exhausting their finite resources and riven by divides in wealth, education, and quality of life. These pioneers in the new economy are solving such intractable problems as unreliable electricity in Africa, crippling student debt levels in the US, and global overfishing. They show what’s possible when courage and determination are combined with cutting-edge technology. And that’s worth celebrating. —Erik Schatzker