SoftBank managing partner Jeffrey Housenbold announced internally on Friday afternoon he will be leaving in July, the company confirmed to Axios.
Why it matters: Housenbold, who joined roughly four years ago, is one of the leaders of SoftBank's ambitious Vision Fund, leading investments in 17 companies. He is currently on the boards of companies like DoorDash, Compass, Katerra, Rappi and Memphis Meats.
Big banks are no longer allowed to reject business loan applicants because of the industry in which they operate, according to a new rule finalized on Thursday by the Trump administration.
Why it matters: Wall Street has curtailed its exposure to industries like guns, oil and private prisons, driven by both public and shareholder pressures. This new rule could reverse that trend.
Venture capital last summer began finally reckoning with its lack of Black investors, as part of the country's broader conversation on racial inequities.
The big picture: The relative handful of existing Black venture capitalists were deluged with recruiting calls from brand-name firms, both to poach and to solicit introductions. But many felt there was a pipeline problem.
Freakonomics Radio will release its entire 10-year archive — nearly 500 episodes — for free across all podcast platforms this Sunday.
Why it matters: As the podcast landscape becomes more centralized among a few key subscription players, access to all podcast content has become limited. Freakonomics, one of the most popular podcasts in the world, wants to ensure that as many people as possible can listen to its content.
Alimentation Couche-Tard (TSX: ATD), the Canadian operator of Circle K convenience stores, is running into French government opposition to its $20 billion takeover approach for supermarket operator Carrefour (Paris: PA).
Why it matters: Carrefour is France's largest private employer, with around 100,000 workers, and also its largest food retailer.
Americans spent more money at stores and restaurants in 2020 than they did in 2019 — even in the face of a devastating global pandemic that shut down broad sectors of the economy.
Why it matters: The monthly retail sales report this morning came in well below expectations, and showed consumer spending falling on a seasonally-adjusted basis. Total expenditures were still higher in December 2020 than they were a year previously, however.
Those betting that people want to align stock investments with their political views saw a huge opening this week.
Why it matters: Much of corporate America is at least temporarily turning off the political donation spigot. But who they supported was pushed into the mainstream like never before in the wake of the Capitol mob attack.
A chunk of stimulus payments is missing in action, thanks to a mix up that put as many as 13 million checks into invalid bank accounts.
Why it matters: The IRS (by law) was supposed to get all payments out by Friday. Now the onus could shift to Americans to claim the money on their tax refund — further delaying relief to struggling, lower-income Americans.
