ZipRecruiter, an online jobs marketplace headquartered in Santa Monica, California, has filed to go public via a direct listing on the New York Stock Exchange, according to an SEC filing.
Why it matters: Despite massive layoffs during the pandemic, ZipRecruiter managed to turn a profit in 2020.
A return-to-normal gauge to watch is mass transit ridership, which continues to creep higher in parts of the country as people get vaccinated and emerge from lockdown.
Why it matters: Ridership return is key for the big city systems — think San Francisco or New York — that are more reliant on fares for revenue.
President Biden's proposal to put $174 billion into zero-emission transportation is a type of "market-making investment" that would kickstart the nation's EV industry, Transportation Secretary Pete Buttigieg said Friday during a virtual Axios event.
Why it matters: Biden's American Jobs Plan aims to invest in EV charging stations and consumer incentives to make EVs more marketable.
Lowe's (NYSE: LOW) agreed to buy carpet brand StainMaster from Invista, a subsidiary of Koch Industries.
Why it matters: The country's second-largest home improvement retailer is seeking to bolster its private label offerings by buying the country's most recognizable carpet brand. But some of the synergistic upside could be diminished if the deal causes smaller flooring retailers drop StainMaster.
President Biden wants to nearly double the capital gains tax paid by wealthy Americans, as first reported yesterday by Bloomberg and confirmed by Axios.
Counterintuitive: Biden's plan is better for private fund managers (hedge, PE, VC, etc.) than what he proposed during the campaign.
The White House Council of Economic Advisers (CEA) has prepared a detailed analysis arguing that big new investments in climate-friendly energy and infrastructure are crucial to U.S. competitiveness and to avoid increasing damage to the economy.
Why it matters: The forthcoming report is the most detailed White House effort yet to explain the economic case for its clean energy R&D and deployment proposals.
Sales of existing homes fell 3.7% in March to a seasonally adjusted annualized 6.01 million units, the National Association of Realtors reported Thursday, the second straight monthly decline and the slowest sales pace since August. Go deeper (<1 min. read)
Yes, but: The median sales price for an existing U.S. home rose to a new record high of $329,100.
Americans are growing more concerned about rising costs and are consistently boosting their inflation expectations, new data show.
Driving the news: A new survey from CivicScience shows 87% of those surveyed in a representative sample of U.S. adults say they are at least "somewhat concerned" about the increasing cost of household expenses (all numbers are rounded to the nearest percentage point).
President Biden in the next few days will unveil eye-popping new tax rates for the wealthiest Americans —a top marginal income tax rate of 39.6% and a capital gains rate of 43.4%.
Why it matters: The proposal, to be announced ahead of Biden's address to Congress next Wednesday, is an opening bid for Hill negotiations.
In the next few days, the White House will unveil long-awaited details for most of the tax-the-rich proposals President Biden has been promising since last year's campaign — laying the groundwork ahead of an April 28 speech to lawmakers timed around his first 100 days in office.
What we're hearing: Think of Biden's plans to increase the top marginal rate to 39.6% and the capital gains rate to 43.4% for the wealthiest Americans as opening bids.
