Charli D’Amelio is bringing home more than some top CEOs, per The Wall Street Journal.
Why it matters: TikTok — now more popular than Google — has propelled creators like D’Amelio, 17, into a new class of business empires driven by follower count.
The gap between denial rates for Black mortgage applicants and white applicants grew by 10 percentage points between 2019 and 2020, analysis of the latest federal Home Mortgage Disclosure Act data from Zillow shows.
Why it matters: The report out today provides more evidence that the pandemic is impacting Black Americans disproportionately.
Former Nissan bossand international fugitive Carlos Ghosn predicts a major reordering of the power center in the auto industry, he told Axios in an exclusive interview.
Why it matters: Ghosn was once one of the automotive industry's most powerful leaders — among the first major execs to invest in electric vehicles. His comments now come during a major inflection point in the sector's transition to EVs as companies battle for positioning.
“Baby Shark,” the viral children’s nursery rhyme that has inspired everything from Halloween costumes to a new movie, has become the first video to rack up over 10 billion views on YouTube.
Why it matters: “Baby Shark“ has become one of the few children’s songs to break through and become universally known in the modern era. Other popular nursery songs, like “Itsy Bitsy Spider” and “Wheels on the Bus,” are many-decades old. The viral kids tune became the most-viewed video on YouTube in November 2020.
Telemundo on Thursday said it is launching "TPlus," a content hub on Peacock that caters to both Spanish and English speakers.
Why it matters: "We hope this will help Peacock become the premier home for Hispanic content in the U.S.," said Romina Rosado, executive vice president and general manager of Hispanic Streaming.
Undergraduate enrollment in fall 2021 fell 3.1% over the last year, or by approximately 465,300 students, compared with the previous year, according to new data from the National Student Clearinghouse Research Center.
Why it matters: College enrollment has been on the decline for nearly a decade, but the pandemic is accelerating the trend, raising concerns about a possible generational shift in attitudes about higher education.
Checkers and Rally's, backed by private equity firm Oak Hill Capital Partners, "hopes" to refinance its debt within a year, conditioned upon stable markets, CEO Frances Allen told Axios.
Why it matters: The beleaguered burger chain is making headway under Allen, who was brought in to turn around the business in early 2020.
A powerful House committee next week will convene a hearing on the energy use of digital cryptocurrency mining.
Why it matters: The Jan. 20 Energy and Commerce Committee hearing highlights growing concern about carbon emissions linked to bitcoin and other currencies, even as the sector vows to get greener.
Consumer Price Index data released Wednesday showed used-vehicle prices continue to surge. As of December, they were up 37% compared to the previous year.
Why it matters: Analysts have been watching used-vehicle prices as a microcosm of the broader U.S. inflation story, encompassing both the disarray of global supply chains and the surge in demand for goods.
When the Federal Reserve moves to raise or lower interest rates, it affects nearly every corner of the economy at once, not just one group or another. Fed leaders refer to their tools as blunt instruments.
Why it matters: But it's becoming clearer that the Fed does has surprisingly powerful effects on whether people historically more likely to be on the fringes of the job market, including Black Americans and those with less education, prosper.
2021 wasn’t the year for hedge funds to finally outperform passive investing.
The big picture: Some hedge funds are sure to beat the index in any given year. But average hedge fund returns continued to lag — in a big way, according to data provided by eVestment.
The Federal Trade Commission has the dialysis industry in its crosshairs after it finalized restrictions on DaVita's latest deal in Utah.
The big picture: The FTC under Lina Khan has been heavily focused on antitrust authority over Big Tech, but the agency also has taken more critical looks at health care deals that further hurt competition and could lead to higher prices.
The Biden administration on Wednesday imposed sanctions on North Korean and Russian individuals and entities for supporting North Korea's ballistic missile program.
Driving the news: The announcement follows North Korea's two missile tests in the past week and leader Kim Jong-un's threat to bolster the country's nuclear weapons program.
Amtrak paid $2.25 million to more than 1,500 people as part of a disability discrimination lawsuit settlement, the Department of Justice announced Wednesday.
The big picture: The train operator and the DOJ reached a deal in December 2020 over Americans With Disabilities Act (ADA) violations — which saw people with disabilities encounter "significant accessibility issues" at 78 stations across the U.S., the settlement states.
More people are willing to do what it takes to get themselves ahead — especially if they're higher up the corporate ladder, a report from EY out today shows.
Why it matters: Business leaders appear to have grown more tolerant of unethical behavior during the pandemic, particularly their own actions, according to the study.
Kim Kardashian has been accused of taking part in a "pump and dump" crypto scheme.
Catch up quick: In a class-action lawsuit, a group of investors claims that Kardashian, Floyd Mayweather, NBA star Paul Pierce and others hyped EthereumMax tokens on social media to lure new buyers.
The four-decade high in inflation is leading companies to look for alternatives to price increases to avoid scaring off customers.
Why it matters: With annualized inflation registering at 7% in December, businesses are turning to a mix of price increases and "shrinkflation" — cutting the amount you get, not the price you pay.
