What makes Robinhood’s IPO stand out
Robinhood makes its Wall Street debut on Thursday. The fast-growing trading app has provided a new generation of everyday investors with access to financial markets, but it’s also highly controversial. What’s happening: The company’s initial public offering priced at $38 a share. On the low end of the expected range, that values the firm at…… MORE
EBay looks to cash in on trading cards boom
Collectors are paying record amounts of money for trading cards of top athletes, including LeBron James, Tom Brady and Mike Trout. They’re also trying to get their hands on all the Pokémon cards they can. Now, online auction giant eBay is looking for an even bigger piece of that action. EBay unveiled new tools on…… MORE
Credit Suisse helped Archegos take ‘potentially catastrophic’ risks before losing billions when it collapsed
Credit Suisse investment bankers allowed Archegos Capital to take “voracious” and “potentially catastrophic” risks that culminated in the US hedge fund’s spectacular collapse in March, costing the bank $5.5 billion and causing chaos on Wall Street, according to an investigation published Thursday. The Swiss bank published a report by law firm Paul, Weiss, Rifkind, Wharton…… MORE
The world’s biggest food company says prices are going even higher
The world’s largest food and beverage company is introducing even bigger price hikes as commodity and transportation costs surge. Nestlé, which sells everything from ice cream to coffee and cereal, said on Thursday that it would respond to higher input costs by raising prices in the second half of the year. “Inflation has been virtually…… MORE
Outspoken Chinese billionaire Sun Dawu sentenced to 18 years in prison
Billionaire Sun Dawu, a vocal critic of the Chinese government, was sentenced to 18 years in prison on Wednesday for “picking quarrels and provoking troubles,” according to an official statement posted by the court. Sun was arrested in March this year. His company, Hebei Dawu Agricultural and Animal Husbandry Group, owns farming operations in China…… MORE
Disney World and Disneyland to again require masks indoors
Disney World and Disneyland, the two crown jewels of Disney’s parks unit, will again require masks indoors. The company announced on Wednesday that it was adapting its health and safety guidelines based on “guidance from health and government officials.” The resorts — which are located in Orlando, Florida and Anaheim, California — will require employees,…… MORE
Pioneering TV pitchman Ron Popeil dies at age 86
Infomercial king Ron Popeil died “suddenly and peacefully” Wednesday at Cedars Sinai Medical Center in Los Angeles, according to a statement provided to CNN by Popeil representative Eric Ortner. He was 86. Popeil started his sales career in Chicago-area flea markets at the age of 16, according to his official biography. In 1959 he appeared…… MORE
Robinhood raises less than it had hoped in IPO
Robinhood’s highly-anticipated debut on Wall Street is getting off to a rough start. The fast-growing trading company failed to raise as much money as it had hoped. Robinhood’s initial public offering priced at $38 a share, the low end of the expected range. That suggests demand for the controversial company may have been softer than…… MORE
These companies are insisting on Covid-19 vaccines for their employees
After months of encouraging employees to get vaccinated against Covid-19, companies are beginning to take a harder line and roll out mandates — a dramatic escalation of Corporate America’s approach to halting the spread of the virus. Momentum for vaccine mandates has been building, and President Joe Biden was expected on Thursday to announce a…… MORE
Ford posts unexpected profit despite chip shortage
Ford overcame the effects of the chip shortage to post a narrow profit in the second quarter, and said it expects much better times in the second half of this year. Ford earned net income of $561 million in the quarter, about half of what it earned a year earlier despite the impact of he…… MORE
