Whats up? (25-31 July) Robinhood Goes Public Without an Outburst Robinhood’s highly anticipated IPO came to naught on Thursday. Shares at the start of stock trading opened at $38, but closed the day down 8.4 percent. The drop reflected investors’ skepticism about Robinhood’s grand mission to wreak havoc on Wall Street. Robinhood as part of …
Continue reading “Week in Business: Robinhood Gurls as Silicon Valley sizzles”
Whats up? (11-17 July) Inflation at a High Level The government reported a significant measure of inflation in June. climbed the fastest pace in 13 yearscasts doubt on the White House’s claim that post-pandemic price increases are “temporary.” The rise in inflation is clearly linked to the rapid reopening of the economy, which creates supply …
Continue reading “Business Week: Inflation, Billionaires in Space and Other”
A former Chicago bank executive was convicted on Tuesday of financial crimes related to facilitating millions of dollars in high-risk loans to Paul Manafort, all in an attempt to secure a coveted position in the Trump administration. A jury in New York unanimously found banker Stephen M. Calk (54) guilty of bribing and conspiring to …
Continue reading “Convicted of Lending Manafort Money for Business with Bank Manager White”
Ma Changbo, the founder of an online media startup, wrote on his WeChat social media account that internet infrastructure operators like Didi now need to prove their political and legal legitimacy to the government. “This is the second half of the US-China divergence,” he wrote. “The model of playing both sides of the fence in …
Continue reading “Staying Away From Politics Is Now A Thing For China’s Business Elite”