Jeff Bezos released a letter on Thursday where he conceded Amazon needs "to do a better job" for its workers, though he defended the company's working conditions, which employees have called harsh.
Why it matters: It's Bezos' final shareholder letter as CEO. He's stepping back as the company faces pressure for how it treats employees and its outsized influence that ballooned even more during the pandemic.
Small business owners are less confident about their ability to get a loan — a drop-off that's worst among Hispanic-owned businesses, according to a new survey by Quickbooks.
Why it matters: Small businesses hard hit by the pandemic will need funding to stay afloat as the economy continues to recover.
ViacomCBS on Thursday named Neeraj Khemlani and Wendy McMahon president and co-heads of a unit that will oversee both CBS News and CBS television stations.
Why it matters: The roles were announced one day after former CBS News executive Kimberly Godwin was named president of ABC News.
Depending on which survey you read, the future of fitness may be sweating at home forever, an eventual return to gyms, or, most likely, a hybrid of in- and out-of-home exercise.
Why it matters: The fortunes of companies like Peloton and Planet Fitness hang in the balance of which way habits will go as more people prepare for a return to the new normal.
A border town in New Mexico saw record cargo crossings last year and is thriving despite the fallout from the pandemic and increased migration from Central America.
Why it matters: The explosive growth of Santa Teresa, N.M. shows how international trade demand remains strong at the U.S.-Mexico border even as retail businesses in border cities have struggled because of COVID-19.
A firm you've probably never heard of is disrupting the surprisingly hidebound venture capital industry and making money as fast as it can.
Why it matters: Tiger Global Management has realized that there's something unique about the current moment in investing, and is seizing the day. Think of it like momentum investing, but with private companies.
Yesterday saw more crypto speculation than any other day in history.
By the numbers: Coinbase, the stock, had $30 billion of trading activity on Wednesday alone. That's more than all the cryptocurrency that Coinbase, the company, trades in a week.
Unlike bitcoin or GameStop stock, dogecoin — a literal joke of a cryptocurrency — is not supply-constrained. If you want more of it, you can mine it — and then, presumably, sell it, given the profit margin of about 57%.
Why it matters: The irrational price rises in cryptocurrencies like dogecoin perhaps help explain why 62% of crypto investors, including 58% of investors with less than $10,000 in crypto investments, expect that they will get rich from their investments in cryptocurrency.
Thermo Fisher Scientific(NYSE: TMO) agreed to acquirePPD (Nasdaq: PPD), a Wilmington, N.C.-based contract research organization, for around $17.4 billion in cash.
Why it matters: This reflects the buoyed fortunes of CROs. Such groups got hurt early in the pandemic, when most clinical trials were paused, but now are humming gain — arguably busier than ever, as pharma seeks to preempt the next viral disaster.
Retail sales in the U.S. surged 9.8% in March as shoppers increased spending across several categories, including in-store shopping, restaurant dining and online purchases, the Census Bureau revealed in a new report Thursday.
Why it matters: It was the biggest monthly boost in retail spending since May 2020 — bouncing back from a dip in February — helped by the latest round of stimulus checks, the ramped-up vaccination effort and the economic reopening.
If the U.S. does commit to slashing greenhouse gas emissions by about 50% below 2005 levels by 2030, the U.S. would compare favorably to other major economies, a report finds.
Why it matters: Consulting firm The Rhodium Group evaluated a 50% reduction target against the targets put forward so far by other nations, using different baselines as reference points. The results?
Walmart, along with others, has made a new investment in self-driving car company Cruise, bringing its most recent funding round to $2.75 billion at a valuation of more than $30 billion. The two had previously announced a delivery pilot program in November.
Why it matters: Walmart's biggest rival, Amazon, has been leading the charge on the autonomous driving front, acquiring Zoox last year, and investing in electric vehicle company Rivian.
The retailer joins an investor group that includes Microsoft, GM, Honda and others. GM acquired Cruise in 2016 in an effort to accelerate the car company’s development of autonomous vehicle technology.
Several women have been tapped to lead some of the country's largest newsrooms over the past year — a promising sign of progress for an industry that's typically been slow to accept change and embrace diversity.
Driving the news: CBS News executive Kimberly Godwin was named president of ABC News on Wednesday. Godwin will be the first Black woman to lead a major broadcast news division when she takes the helm in May.
