As department stores like Saks Fifth Avenue try to get shoppers back into stores after the Covid-19 pandemic shutdowns, the shift to online sales may continue to accelerate thanks to personalization technology. Richard Lautens | Toronto Star | Getty Images Personal shopping services once reserved for the wealthiest consumers are […]
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Covid, payday loans, student debt — here are the issues Biden’s consumer bureau may tackle
The headquarters of the Consumer Financial Protection Bureau in Washington, D.C. JHVEPhoto | iStock Editorial | Getty Images The Consumer Financial Protection Bureau is expected to become a more aggressive consumer watchdog under the Biden administration and while the coronavirus pandemic hurls financial challenges at millions of Americans. Consumer advocates […]
San Francisco businesses teeter on the brink after a year of lockdowns, fires and other hurdles
A pedestrian wearing a protective mask crosses California Street in San Francisco, California, U.S., on Tuesday, Dec. 29, 2020. David Paul Morris | Bloomberg | Getty Images In late October, when San Francisco moved into California’s least-restrictive Covid-19 “yellow tier” — indicating minimal spread of the coronavirus — Lauren Crabbe […]
GameStop, Reddit and Robinhood: A full recap of the historic retail trading mania on Wall Street
GameStop mania took Wall Street by storm, thanks to a legion of retail traders glued to the WallStreetBets message board on Reddit. Shares of the struggling brick-and-mortar video game retailer skyrocketed 400% in the past week, closing out January with a whopping 1,625% gain. A band of amateur traders in […]
The psychology of the GameStop phenomenon, explained
By now, there’s a good chance you’ve heard what’s been happening with GameStop’s stock surge. Majorly simplified: Everyman retail investors are using Reddit to spread the word and help boost the stock price of video game retailer GameStop (as well as some others), causing a few Wall Street hedge funds […]
A new breed of activist takes a board seat at Office Depot’s parent company
An employee works inside an Office Depot Inc. Susana Gonzalez | Bloomberg | Getty Images Company: ODP Corp. (ODP) ODP Corp. is a provider of business services, products and digital workplace technology solutions to small and medium businesses. The company has a fully integrated business-to-business distribution platform of approximately 1,300 […]
Biden’s climate change agenda will face big obstacles with evenly divided Senate
U.S. President Joe Biden delivers remarks on tackling climate change prior to signing executive actions in the State Dining Room at the White House in Washington, January 27, 2021. Kevin Lamarque | Reuters President Joe Biden has passed an early flurry of executive action on climate change during his first […]
What is a SPAC? Explaining one of Wall Street’s hottest trends
When former unicorn darling WeWork set out to go public in 2019, its IPO imploded as its business model and co-founder Adam Neumann’s management came under intense scrutiny. Now, the office space leasing start-up is in talks to go public via a different manuever: It’s considering using a SPAC, or […]
It’s likely going to take a constant stream of excited buyers to keep the GameStop, AMC rally going
Traders work on the floor of the New York Stock Exchange. NYSE The vivid popular storyline in the markets last week portrayed the masses of small-fry investors getting the better of Wall Street’s bullies, with frenzied buying of heavily shorted cast-off stocks dealing massive losses to smug hedge-fund managers who […]
There will be enough Covid vaccines for the ‘entire U.S. adult population by June,’ Johnson & Johnson board member says
Johnson & Johnson board member Dr. Mark McClellan told CNBC Friday that there could be enough vaccinations for the entire U.S. adult population by the summer. “Assuming all of the close review of the J&J data all pans out, we’re going to have the capacity between Moderna, Pfizer, J&J, to […]