A new report explores the challenges of managing "workforce ecosystems" increasingly made up of non-permanent employees.
The big picture: The emergence of new labor-sharing platforms, the push to cut costs, and workers' own preferences all drive the emergence of a distributed workforce — and companies need to adjust their management strategies.
Coinbase's highly anticipated public listing finished with a bit of a whiff.
What happened: Cryptocurrency exchange platform Coinbase initially blew past a $100 billion valuation — more than Target, Zoom or CVS (for context) — before ending the day around $86 billion.
Look no further than the flood of bank earnings out today for evidence the pandemic crisis is long over on Wall Street.
Why it matters: Banksare riding high — helped by wild activity in deals and the stock market — as the worst of the pandemic's economic impact sits in the rearview mirror.
CBS News executive Kimberly Godwin has been chosen to lead ABC News, the network confirmed Wednesday.
Why it matters: Godwin will be the first Black woman to lead a major broadcast news division. Last year, Rashida Jones was named president of MSNBC, becoming the first Black executive to lead a major cable news network.
Keeping middle seats empty on single or twin-aisle airplanes can reduce the spread of the coronavirus from 23% to 57%, according to a study out Wednesday from the Centers for Disease Control and Prevention.
Why it matters: Delta will be the final U.S. airline to start filling middle seats again on May 1. The company says increased vaccinations and consumer confidence have lowered risks to unblocking middle seats.
Three digital media veterans are launching a new paid subscription media company with a multi-million dollar Series A funding round led by 40 North Media, a related investment business of Standard Industries, and private equity giant TPG Growth, Axios has learned.
Driving the news: The co-founders of the new company are Joe Purzycki, co-founder of the podcast company Luminary, Jon Kelly, a former New York Times editor and founder of Vanity Fair’s "The Hive," and longtime digital media executive and early Athletic employee Max Tcheyan.
Cryptocurrency exchange Coinbase opened trading on Wednesday at $381 per share, giving it a fully diluted market value of around $102 billion.
Why it matters: This is a slight premium to the most recent private trades for Coinbase stock, and more than 50% higher than the reference price set last night by the Nasdaq.
The Senate voted 53-45 on Wednesday to confirm Gary Gensler as chairman of the Securities and Exchange Commission.
Why it matters: Gensler, who chaired the Commodity Futures Trading Commission (CFTC) under President Obama, is seen as likely to take aggressive steps to regulate financial giants.
In the past year as the pandemic raged on, some of the world's most valuable companies continued to grow and compensate their workers well above national medians — interns included.
Bernie Madoff, a former investor sentenced to 150 years in prison for perpetrating the largest Ponzi scheme in U.S. history, died Wednesday at age 82, AP reports.
The big picture: Madoff pleaded guilty in 2009 to a multibillion-dollar scheme that investigators said began in the 1970s and defrauded as many as 37,000 people in 136 countries — including high-profile victims like Steven Spielberg, former New York Mets owner Fred Wilpon and actor Kevin Bacon, according to CNBC.
Co-Star, the maker of an astrology app, has raised $15 million in Series A funding led by Spark Capital, with Maveron, Female Founders Fund, and all existing investors also participating.
Why it matters: The company says it has more than 20 million app downloads without any real marketing efforts, and has been downloaded by a quarter of all young women ages 18-25 in the U.S.
Coinbase plans to go public on Wednesday, in a watershed moment for the cryptocurrency industry.
Axios Re:Cap speaks with Coinbase president and COO Emilie Choi about how she thinks about crypto, why Coinbase eschewed a traditional IPO and if we’re ever going to use bitcoin to buy a cup of coffee.
Hundreds of companies and executives released a letter on Wednesday condemning legislation that restricts "any eligible voter from having an equal and fair opportunity to cast a ballot," per the New York Times.
Why it matters: It's the most concerted action yet by big business in opposition to GOP-sponsored bills at the state level that limit mail-in ballots, implement new voter ID requirements and slash registration options, among other measures.
Grupo Televisa S.A.B ("Televisa"), one of the largest media companies in Latin America, on Tuesday agreed to merge its content assets with Univision Communications, the largest Spanish-language broadcaster in the U.S.
Why it matters: The deal will create one of the biggest Spanish-language media companies in the world, and will help deliver more Spanish-language streaming content opportunities.
