Business

Exclusive: Intel Reveals Plans for Massive New Ohio Factory, Fighting the Chip Shortage Stateside

As part of an effort to regain its position as a leading maker of semiconductors amidst a global chip shortage, Intel is committing $20 billion to build a manufacturing mega-site in New Albany, on the...

By Alana Semuels January 20, 2022

NYC Mayor Adams to Convert First Paycheck to Cryptocurrency

Mayor Eric Adams confirmed his first paycheck—which arrives on Friday—will be converted into Bitcoin and Ethereum

By Yueqi Yang and Shelly Banjo / Bloomberg January 20, 2022

Why Investors Are Buying Virtual Real Estate

A blank square of pixels in a virtual metaverse world like The Sandbox can cost as much as a home in the real world. But investors are buying in

By Raisa Bruner January 20, 2022

Kid of the Year Finalist Lino Marrero, 15, Invented a Shoe That Can Charge a Cell Phone

Lino Marrero was leaving cello practice one day when he noticed several blisters on his fingers. The pain was so bad that the 10-year-old inventor from Frisco, Tx. wanted to quit playing the instrument for...

By Nik Popli January 19, 2022

People Want Business Leaders to ‘Break the Cycle of Distrust’ and Address Societal Issues, According to New Report

After another year marred by the COVID-19 pandemic and rapid spread of disinformation, a new report reveals that business leaders could be key to breaking out of “a vicious cycle of distrust fueled by government...

By Nik Popli January 18, 2022

Verizon and AT&T Are Rolling Out New 5G Networks—But Not Near Major Airports. Here's Why

AT&T and Verizon will postpone new wireless service near some airports planned for this week after the nation's largest airlines said the service would interfere with aircraft technology and cause massive flight disruptions. The companies...

By DAVID KOENIG / AP January 18, 2022

Microsoft Buys 'Call of Duty' and 'Candy Crush' Maker For $68.7 Billion

Microsoft is buying the gaming company Activision Blizzard for $68.7 billion, gaining access to blockbuster games like “Call of Duty" and ”Candy Crush." The all-cash deal will let Microsoft, maker of the Xbox gaming system,...

By Associated Press January 18, 2022

Business Executives Share Why It Can Pay to Do Good

As global leaders discuss how to build a better future in a post-pandemic world, business executives weigh profits and purpose

By Vivienne Walt January 18, 2022

E.U. Demand Threatens Key Ecosystems Around the World: WWF

An official at the WWF’s European Policy Office said ecosystems were being destroyed at "breakneck speed"

By John Ainger / Bloomberg January 17, 2022

Walmart Filings Reveal Plans to Create Crypto and NFTs

The retailer sought several new trademarks in December that show it intends to make and sell virtual goods

By Brendan Case and Susan Decker / Bloomberg January 16, 2022

Bitcoin’s Dominance of Crypto Payments Is Starting to Erode

Last year, Bitcoin’s use at merchants that use BitPay dropped to about 65% of processed payments, down from 92% in 2020

By Olga Kharif / Bloomberg January 16, 2022

Controversial Investment Guru Cathie Wood Wants to Help You Trust the Stock Market Again

(To receive weekly emails of conversations with the world’s top CEOs and business decisionmakers, click here.) Cathie Wood is CEO, CIO and founder of ARK Invest, a closely watched investment fund known for its prescient...

By Belinda Luscombe January 16, 2022

Starbucks Staff Can Vote to Unionize at Three More New York Stores, U.S. Labor Official Rules

Starbucks Corp. employees at three more restaurants in New York state will vote on unionization, a U.S. labor official ruled Friday, offering organizers a chance to expand a new labor foothold that’s already inspiring copycat...

By Josh Eidelson and Leslie Patton / Bloomberg January 14, 2022

New Proposed SEC Regulations Could Widen the Wealth Gap

The Securities and Exchange Commission is pushing for significant changes in how private funded companies operate and who can invest in them, the agency said this week. The proposed changes probably won’t benefit rank and...

By Simon Constable January 14, 2022

U.S. Food Prices Are Up. How Monopoly Power Makes this Worse

2021 was a bad year for grocery bills. Shoppers paid 6.4% more for groceries in November 2021 compared to November 2020, according to the consumer price index. All food prices were up a bit more...

By Claire Kelloway January 14, 2022

China’s Trade Surplus Hit Record in 2021

China’s global trade surplus surged to $676.4 billion in 2021, likely the highest ever for any country, as exports jumped 29.9% over a year earlier

By Joe McDonald/AP January 14, 2022

Supreme Court Halts COVID-19 Vaccine Rule for U.S. Businesses

WASHINGTON — The Supreme Court has stopped the Biden administration from enforcing a requirement that employees at large businesses be vaccinated against COVID-19 or undergo weekly testing and wear a mask on the job. At...

By MARK SHERMAN and JESSICA GRESKO / AP January 13, 2022

U.S. Jobless Claims Rise by 23,000 to 230,000

The four-week moving average rose nearly 6,300 to almost 211,000

By PAUL WISEMAN/AP January 13, 2022

Which At-Home COVID-19 Test Should You Use? A Guide

The COVID era has brought us many new experiences: mask-wearing, remote schooling, sheltering in place. The majority of these have been onerous and dreary. It's amazing how energy-sapping it is to just have to wait...

By Belinda Luscombe January 12, 2022

Amazon Workers Will Vote on Unionization by Mail

A federal labor board said that Amazon workers in Bessemer, Alabama, will vote by mail next month in a re-run election to decide whether or not to unionize. The National Labor Relations Board said Tuesday...

By ANNE D'INNOCENZIO/AP January 12, 2022

At CES 2022, Tech Companies Tried to Pitch Climate Sustainability as Fun and Exciting

Between presentations launching new PC processors and candy-colored refrigerators at last week’s CES, companies at the annual tech industry jamboree made a lot of big, flashy proclamations about climate change, some more serious than others,...

By Alejandro de la Garza January 12, 2022

World Bank Cuts Global Growth Forecast Due to COVID-19 Case Surge, Supply Chain Disruptions

Global gross domestic product will probably increase 4.1% this year, less than a 4.3% forecast in June, the report said

By Ana Monteiro and Eric Martin/Bloomberg January 11, 2022

Medicare Will Not Fully Cover Aduhelm, the Controversial—and Costly—Alzheimer's Disease Drug

Medicare said Tuesday it will limit coverage of a $28,000-a-year Alzheimer's drug whose benefits have been widely questioned, a major development in the nation's tug-of-war over the fair value of new medicines that offer tantalizing...

By RICARDO ALONSO-ZALDIVAR / AP January 11, 2022

Don't Sell Your Fossil-Fuel Stock If You Want to Make a Climate-Change Difference in 2022

In 2022, investors who want to address climate change should focus on one simple but essential goal: active stock ownership. They should engage with companies on both sides of the energy transition–those heading in the...

By Chris James January 11, 2022

Meta Will Require COVID-19 Boosters for Employees

Meta employees have been working remotely since March 2020, and multiple return-to-office plans have been delayed.

By Kurt Wagner/Bloomberg January 11, 2022

How Reddit Allows Hate Speech to Flourish

Reddit moderators around the world say that racism, xenophobia, homophobia, sexism, misinformation and personal threats are running rampant on the site

By Andrew R. Chow January 10, 2022

Grand Theft Auto Maker Buys FarmVille Company in $12.7B Deal

The transaction includes a go-shop provision, giving Zynga 45 days to hear alternative proposals.

By MICHELLE CHAPMAN/AP January 10, 2022

Omicron Absenteeism Is Fresh Test to U.S. Economic Strength

Several economists began the new year by downgrading their first-quarter forecasts

By Shawn Donnan, Sarah McGregor and Mary Schlangenstein / Bloomberg January 9, 2022

It's Expensive to Be Poor. This CEO Wants to Reduce 'Antiquated' Bank Fees and Wait Times

(To receive weekly emails of conversations with the world’s top CEOs and business decisionmakers, click here.) PayPal’s CEO and president did not learn his most important business lesson in the C-suite of the $215-billion fintech...

By Vivienne Walt January 9, 2022

Covid Test Makers Struggle to Cope With Whiplash From Omicron

Suppliers have also been caught off guard by uncertain demand beginning with the delta wave last summer

By Kristen V Brown / Bloomberg January 8, 2022

GM's Electric Silverado Is the Latest Salvo in the EV War

Their Silverado EV debut came months after rivals launched their own

By Alejandro de la Garza January 6, 2022

How to Reduce Your Family's Emissions and Live Greener

We analyzed the emissions four families generated in a week. Here's what we learned about living greener

By Alana Semuels January 6, 2022

There's a Way to End Energy Poverty—And It Has the Side Effect of Making Fossil Fuels Obsolete

You bring your feverish baby to the hospital in the middle of the night. The nurse asks you to go home to get a flashlight. When the flashlight batteries give out, she resorts to a...

By Nicole Poindexter January 6, 2022

How the Metaverse Could Avoid the Ills of Social Media

The OASIS Consortium, a think tank that brings together execs of metaverse platforms, published some of the first comprehensive safety standards for Web 3.

By Andrew R. Chow January 6, 2022

How Hedge Funds' Lack of Diversity Affects All of Us

A recent Knight Foundation study found that only 1.4% of America's wealth is handled by asset management firms owned by women and/or people of color, even though there is zero difference in the performance of...

By Belinda Luscombe January 5, 2022

Elizabeth Holmes Will Likely Land in Fenceless, Low-Security Prison for Theranos Fraud

Legal experts say that Holmes may serve as little as three years at one of the least restrictive facilities in the U.S.

By Malathi Nayak/Bloomberg January 4, 2022

Will 2022 Be the Year of Reckoning for Addictive Algorithms?

Platforms like Facebook and Instagram are under mounting pressure to reform the ways in which they're built to be addictive for users

By Megan McCluskey January 4, 2022

One Lesson From the Theranos Scandal: We Need Age Diversity on Corporate Boards

A younger corporate board might've called out Theranos' problems before its founder was charged with fraud. Here's how investors can demand board diversity

By Jamaal Glenn January 4, 2022

Elizabeth Holmes Convicted of Fraud

A jury found Holmes guilty of two counts of wire fraud and two counts of conspiracy to commit fraud

By Michael Liedtke/AP January 3, 2022

Holmes Jury Deadlocked on 3 of 11 Criminal Charges

U.S. District Judge Edward Davila instructed its members to do their best to reach a verdict

By MICHAEL LIEDTKE/AP January 3, 2022

Tesla Smashes Delivery Record with 308K Cars in Q4

Thirteen analysts surveyed by Bloomberg on average had expected about 263,000 vehicles for the quarter

By Dana Hull and Brendan Case / Bloomberg January 2, 2022

8 Top CEOs Give Their Predictions for the Year Ahead

(To receive weekly emails of conversations with the world’s top CEOs and business decisionmakers, click here.) Nearly two years into the COVID-19 pandemic, business leaders are heading into 2022 facing the strong headwinds of the...

By Ayesha Javed January 2, 2022

Buttigieg Asks AT&T, Verizon to Delay 5G

Without action, airlines could be forced into “widespread and unacceptable disruption,” Buttigieg said in a letter Friday

By Todd Shields and Alan Levin / Bloomberg January 1, 2022

How Digital Twins Are Transforming the World

Digital twins—exact digital re-creations of objects or environments—are being used to replicate factory floors, car prototypes and internal organs

By Andrew R. Chow December 30, 2021

Most Restaurants Fail. COVID-19 Made the Odds Worse

It's easy to poke fun at terrible restaurants, like the one on Gordon Ramsay's show Kitchen Nightmares that served a mayonnaise-and-cheese sushi pizza, or the Washington D.C. Popeyes that went viral after a video revealed...

By Abby Vesoulis December 28, 2021

4 Charts That Explain the Wild U.S. Economy

The U.S. economy ended up in a weird place in 2021. Consumers were eager to spend money, but couldn’t get their purchases because supply chains were haywire. Wages rose as workers resigned. Prices, meanwhile, soared...

By Emily Barone December 28, 2021

Sleepy Truckers Get Forgotten in Supply Crisis

Bitcoin Has Lost Half Its Value

Netflix Stock Plunges After Announcing Low Subscriber Growth and Raising Prices

The Brain Drain That Is Killing America's Economy

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