Brian Brooks, a former acting Comptroller of the Currency, has left his role as CEO of the U.S. branch of cryptocurrency exchange Binance, citing "differences over strategic direction."
Why it matters: Brooks' hiring — just three months ago — was seen as an attempt to lean on his experience in government to repair Binance's regulatory standing in the U.S.
As the contagious Delta variant continues to reach across the United States, more and more companies are delaying plans to reopen offices.
By the numbers: A recent survey of 1,000 HR professionals by the Society for Human Resource Management and Lucid found that half of U.S. organizations are worried about Delta. Some corporate players have started mandating vaccines for employees in an attempt to combat the variant.
Dotdash, the digital media company that houses brands like Verywell and Investopedia, is growing revenue faster than any other brand within the IAC, the publicly traded internet company that also owns Angi, The Daily Beast, and others.
Why it matters: IAC is known for growing digital brands and spinning them out once they are big enough to stand alone. Now that IAC has spun out Match Group and Vimeo, Dotdash is its fastest-growing brand in terms of revenue.
President Biden trumpeted the strong July jobs report on Friday as evidence that his economic plans are working, but emphasized that more work still needs to be done to ensure the economy's full recovery as the Delta variant continues to spread.
Why it matters: The U.S. added 943,000 jobs in July, while the unemployment rate fell from 5.9% to a new pandemic-era low of 5.4%. But the jobs survey was taken in mid-July — meaning it doesn’t fully reflect possible effects from the recent surge in COVID-19 infections driven by the Delta variant.
With everything going up and to the right, it's only fitting that corporate venture capital investments did too during the past quarter.
What's happening: Global CVC-backed funding reached $79 billion across 2,099 deals in the first half of 2021 — more than the $74 billion invested in all of 2020, according to new CB Insights data.
Small businesses aren’t happy with who’s applying for their open jobs.
Driving the news: According to the NFIB’s July Small Business Jobs Report, "labor quality" is the top overall biggest concern, with 26% of survey respondents identifying it as their "single most important problem."
United Airlines will require its 67,000 U.S. employees to be vaccinated by Oct. 25 or risk being fired, CNBC reports.
Why it matters: It's the first major U.S. airline to impose a vaccine mandate, in a move that will likely increase pressure on its competitors to do the same.
Google searches for "inflation" and "hyperinflation" are running at less than a fifth of their early-May highs.
Why it matters: Worry about inflation can be a good thing, economically, if it brings forward spending that would otherwise have been delayed. But it can also become self-fulfilling, at least in theory.
Within the span of a week, three of Wall Street’s most prominent forecasters have told clients the stock market is heading higher than they previously thought.
Why it matters: A lot of people look to these folks for guidance. Not just clients, but also the investors who read the media coverage of this research.
Construction spending in the U.S. has risen steadily since the financial crisis, and as of June sat at a near-record annualized rate of $1.55 trillion. Delving into the data, the dollars spent in most categories of construction grew along with the overall economic expansion.
The intrigue: One segment bucks the trend most noticeably. Construction of religious facilities has fallen sharply over the past two decades.
Engineering job seekers wait an average of 49 days to get hired after submitting job applications, per a new LinkedIn analysis.
The big picture: Employers are desperate to fill a record number of open positions across industries, but the hiring process is still taking a long time for some types of jobs.
After a long, pandemic-induced wedding drought, the industry is busier than it has been in decades — and venues, vendors and planners are feeling the squeeze.
Staggering stat: There will be an estimated 2.5 million weddings in 2022, which is the most the U.S. has seen since 1984, according to The Wedding Report, a market research firm.
McKesson and Cardinal Health are sitting on huge inventories of personal protective equipment, some of which they estimate won't be used or will expire, resulting in a $164 million loss for McKesson and a $197 million loss for Cardinal in the second quarter.
Between the lines: Last year, during the height of the pandemic, PPE was in high demand but short supply, leading to high prices and long waits.
Now that supply has caught up, some medical distributors have too much and believe a lot will go unsold, although McKesson said it would donate some of its excess PPE.
AFL-CIO president Richard Trumka, who led the largest federation of unions in the country for over a decade, has died at 72.
The big picture: Trumka began working as a coal miner in 1968 and would go on to dedicate his life to the labor movement, including as president of the 12.5 million-member AFL-CIO beginning in 2009.
