Since Papa John’s founder John Schnatter inserted himself into debates about racism in America, the pizza company has wrestled with its public image. What started with Schnatter criticizing the NFL’s response to anthem protests in 2017 ballooned into a crisis, when Forbes reported in July 2018 that he used the n-word in a conference call about similar public relations controversies.
If you want to know who you’ll be in a few years, you might get a preview by observing your older colleagues.
Today, everybody needs the US dollar. As the world’s reserve currency, the greenback holds outsize importance in the international economy, often serving as a unit of account when settling trades and playing a critical role in global stock markets.
A pair of business professors have devised an ingenious method for measuring the probability of a financial crisis by examining an entire economy as if it were a failing bank.
Facebook’s proposed cryptocurrency, Libra, is ready for a trial by fire.
August has been a brutal month for investors, with the US stock market flailing virtually every time Donald Trump has laid into the Federal Reserve and China. In his most recent Twitter outburst, the president castigated Jerome Powell after the Fed chairman discussed the central bank’s policy limitations at a symposium in Jackson Hole, Wyoming today.
Many in the crypto community believe the world’s traditional financial system is broken. Sending money to family and friends costs too much. So does trading stocks and taking out loans. And, perhaps worst of all, only a select group of people, known as “accredited investors,” are allowed to bet their money on early-stage startups, thereby exacerbating economic inequality.
Kiwis can now get paid in crypto.
ByteDance, the Beijing-based company behind the popular short-video app TikTok, has started its own search engine to compete with the likes of Baidu. Called “Toutiao Search,” the portal is built into the company’s existing news aggregation service, Jinri Toutiao (“Today’s Headlines”).
Tencent Music Entertainment Group announced the addition of 2.6 million paid music users in its latest earnings report yesterday. The company, spun off by Chinese internet giant Tencent in December, owns four of China’s biggest music applications, including WeSing, a social karaoke app, and streaming services QQ Music, Kugou Music, and Kuwo Music. Altogether, the company counts around 900 million monthly active users of its services, the vast majority on free, ad-supported tiers.
Argentinian assets plummeted in price today after Alberto Fernández, a leftwing populist opposition politician, soundly defeated rightwing incumbent president Mauricio Macri in a nationwide primary election over the weekend. The vote determines which candidates can run in the presidential election in October, and is seen as a key barometer of public opinion.
As JP Morgan Chase retreats from the Canadian credit card market, the bank has given remaining customers a parting gift: debt forgiveness.
Robinhood, a commission-free US stock trading app, is following its namesake to the land of Sherwood Forest and Maid Marian. After raising $323 million last month, the company—now valued at $7.6 billion—announced Wednesday (Aug. 7) it received regulatory approval to operate as a broker in the United Kingdom.
After three seasons, the Kirkman administration has come to an end.
Apple launched a new credit card this week in partnership with Goldman Sachs and Mastercard, offering consumers 2% cash back on purchases made using Apple Pay (the company’s digital wallet service) and 1% on other transactions. There’s also 3% cash back on goods and services purchased directly from Apple.
Monzo, a fast-growing mobile bank based in the UK, recently began experimenting with metal bank cards through a monthly subscription program. In company trials, the cards cost up to £7.50 ($9.10) per month, according to the Telegraph. Monzo also tested annual fees ranging from £70 to £90 for its new metal cards.
In the aftermath of mass shootings in Dayton, Ohio and El Paso, Texas, Republican politicians blamed violent video games for corrupting the nation’s youth.
The S&P 500 continued its decline Monday (August 5) after its worst week of 2019, dropping 3% after president Trump resumed his economic sparring with China. The Dow Jones Industrial Average also dropped 3%, or 800 points, while the Nasdaq plunged 3.7% as US-Chinese trade tensions intensified.
The crypto community is facing a conundrum: Bitcoin has become too expensive.
Senator Josh Hawley, a Missouri Republican, proposed legislation Tuesday (July 30) to prohibit social media companies from exploiting users through addictive features. The Social Media Addiction Reduction Technology Act suggests banning features such as autoplay, badges for engagement, and infinite scroll.
When Facebook announced last month its intention to launch its Libra cryptocurrency, the company aimed to release the digital money in the first half of 2020. But policy experts say the project is unlikely to proceed at that pace—if at all.
In its best quarter since going public in 2017, Snap added 13 million daily active users on Snapchat, an 8% gain year-over-year. The company reported its second-quarter earnings today (July 23), and the sudden jump reversed a period of stagnation for Snap, which investors feared was losing ground to competitors like Facebook’s Instagram and TikTok.
Warren Buffett is off the hook. His lunch date with Justin Sun, a Chinese crypto promoter, has been delayed indefinitely as the 29-year-old entrepreneur stares down a reported investigation in Beijing.
One of the world’s best poker players doesn’t have a poker face. In fact, it doesn’t have any face at all.
