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WeWork, which had one of the most spectacular IPO implosions in recent years, is trying to go public again—and some of the factors that worried regulators on the first deal are back again.
WeWork isn’t doing an initial public offering this time, but merging with a special-purpose acquisition company, or SPAC. Rules around SPACs are looser than for IPOs, giving WeWork more leeway to tout its future. READ MORE
The coronavirus pandemic is hitting recent college graduates hard as they struggle to lock down a job even a year after graduating, according to a new survey.
Nearly half of the 2020 graduating class, about 45%, are still looking for a job, according to Monster's recent survey of over 1,000 recent and impending U.S. college graduates.
The class of 2021 is also likely to face similar job-hunting woes. Impending graduates are expecting to spend five months "searching for the right job." READ MORE
Chris New said he has turned down $250,000 in business because he just can’t hire enough laborers and drivers at his Carrollton-based company, Barnes Van Lines.
There are plenty of people without jobs, but unemployment benefits give them too much incentive not to work, he said. “We advertise and nobody comes in looking for a job. A lot of people are taking advantage of the system. It’s really killing us.” READ MORE
It's a sunny, breezy morning in Eugene, Ore., a place best known for access to the great outdoors, a history of environmental activism and being the birthplace of Nike. I'm standing outside a nondescript, one-story industrial space, speaking with Mark Frohnmayer, chief executive of Arcimoto, maker of a three-wheeled electric vehicle it calls a "fun utility vehicle." READ MORE
The U.S. House of Representatives Judiciary Committee has formally approved a report accusing Big Tech companies of buying or crushing smaller firms, Representative David Cicilline’s office said in a statement Thursday.
With the approval during a marathon, partisan hearing, the more than 400 page staff report will become an official committee report, and the blueprint for legislation to rein in the market power of the likes of Alphabet Inc's (GOOGL.O) Google, Apple Inc (AAPL.O), Amazon.com (AMZN.O) and Facebook (FB.O). READ MORE
Ford didn't pull any punches when it announced its new BlueCruise highway driving assist feature on Wednesday.
Ford suggested that GM's use of red and green lighting to indicate its status makes Super Cruise challenging for people with color blindness and noted that Tesla's Autopilot requires a driver to always touch the steering wheel to prove they are paying attention, while BlueCruise uses facial recognition technology to allow hands-off operation. READ MORE
Faced with criticism over their proposed tax hikes, senior Biden administration officials have in recent days pointed to large American corporations that are paying no federal income taxes.
Earlier this month, White House press secretary Jen Psaki cited a think-tank report showing 55 companies in the Fortune 500 had paid $0 in U.S. corporate taxes in 2020. That study has also been repeatedly cited by both Transportation Secretary Pete Buttigieg, who called the lack of payment by dozens of megafirms “unacceptable,” as well as by the president himself. READ MORE
The upcoming first-quarter reporting season, which kicks off Wednesday with JPMorgan and Wells Fargo, may be the strongest in more than a decade, according to John Butters, senior earnings analyst at Factset. But instead of popping the champagne, chief financial officers are prepping to handle some tough questions on President Biden’s corporate tax plan. READ MORE
While some employees are enjoying the flexibility of working from home, Janell Longa can't wait to return to the office.
"As soon as I'm...fully vaccinated I am going back to the office," said Longa, who does administrative IT as a long-term temp for a medical supply company. READ MORE
The robots are coming, and they're bringing pizza.
This week, Domino's is rolling out a robot car delivery service to select customers in Houston. For those who opt in, their pies will arrive in a fully autonomous vehicle made by Nuro. READ MORE
American tech company Intel said it's working to combat the semiconductor chip shortage affecting the auto industry on the same day President Biden rounded up CEOs for a virtual summit on the semiconductor supply chain.
"We’re hoping that some of these things can be alleviated, not requiring a three- or four-year factory build, but maybe six months of new products being certified on some of our existing processes," Intel CEO Pat Gelsinger told Reuters. "We’ve begun those engagements already with some of the key components suppliers." READ MORE
You can’t ride the wild mustangs at the Tahoe-Reno Industrial Center in Nevada, but you’re nearly guaranteed to see bands of them loping over sagebrush in a scene that feels straight out of the 1800s.
At least until the dust clears and Tesla’s 5.3-million-square-foot “Gigafactory” comes into focus. READ MORE
After losing an epic battle with Mark Zuckerberg over ownership of Facebook and being shunned in Silicon Valley, CAMERON and TYLER WINKLEVOSS are back—this time as budding Bitcoin billionaires at the center of the future of money, the creative economy and quite possibly a new operating model for Big Tech itself. READ MORE
Successful companies actively manage their businesses through periods of economic growth, downturn, and recovery. They do so by innovating, making strategic shifts, rewiring existing operations, reallocating resources, entering new business lines, and restructuring existing ones.
For most companies, joint ventures and other partnerships are a critical part of the equation. READ MORE
ELON Musk's "futuristic" $55M Las Vegas public transit loop has been panned as "just humans driving cars slowly in a tunnel".
Plans had promised to whisk passengers in driverless Tesla vehicles at speeds of 155mph, turning a typically 15-minute-long walk into a two-minute ride. READ MORE
The U.S. economy is at an "inflection point" with expectations that growth and hiring will pick up speed in the months ahead, but some risks remain, particularly any resurgence in the coronavirus pandemic, Federal Reserve Chair Jerome Powell said.
In a brief preview of a longer interview with CBS' news magazine program "60 Minutes" set to air in full on Sunday night, Powell echoed both his recent optimism about the economy and a now-familiar warning that COVID-19 remains the main risk. READ MORE
This is Job Creation Rule #1: businesses invest in growth and hiring when they can forecast a profit. But that’s hard to do when the Biden administration’s message to American businesses boils down to: "We’re going to increase your labor and energy costs, unionize your business, and then over-regulate and over-tax you." READ MORE
Job growth boomed in March at the fastest pace since last summer as stronger economic growth and an aggressive vaccination effort contributed to a surge in hospitality and construction jobs, the Labor Department reported Friday.
Nonfarm payrolls increased by 916,000 for the month while the unemployment rate fell to 6%. READ MORE