Workers held more power over their employers last year than ever before, but that still hurt them in the end.
Why it matters: Higher wages and benefits that workers received are quickly getting passed back down to them in the form of price hikes that companies say they have to enact to keep profits growing.
Apple CEO Tim Cook marked 10 years on the job last year — a leadership choice that paid off during one of the most challenging business environments in modern history.
Why it matters: Apple outmaneuvered supply chain problems, thanks to its focus on speed and supplier control, to come away with record results last quarter.
Kin Insurance, a homeowners insurance startup, is in talks to raise around $75 million to $100 million after it pulled the plug on a deal to go public via SPAC merger, according to three sources with knowledge of the matter.
Why it matters: This is likely to be a good outcome for Kin. With the current disconnect between the private and public markets, some companies are choosing to spurn the volatile public realm for venture capital and private equity investors willing to offer better terms.
Alphabet, the parent company of Google, is investing $700 million for a 1.28% stake in Bharti Airtel, India's second-largest mobile telco. It also is committing to invest another $300 million over five years, as part of strategic commercial partnerships.
Why it matters: The Silicon Valley giant is spreading its bets in the world's sixth-largest economy, having previously plugged $4.5 billion for a 7.7% stake in Reliance Industries subsidiary Jio Platforms. It also gives Airtel extra firepower for India's upcoming 5G spectrum auction, set for November.
Marcelo Claure is out as COO of SoftBank, with sources saying he's likely to raise his own fund focused on Latin American startups.
Why it matters: There is no succession plan at one of the world's largest tech investors, at a time when its fortunes are sagging due to both market and political pressures.
Spotify will remove Neil Young's music from its streaming platform, because the 76-year-old rock icon objected to the company's response to vaccine misinformation.
The big picture: This matters more than you'd think, given the popularity of old music.
Inflationary pressures remained high in the final months of last year, though not quite as high as forecasters had thought.
Driving the news: The Employment Cost Index, which tracks what employers pay in wages and benefits, rose 1% in the fourth quarter, below the 1.3% reading in the third quarter and the 1.2% analysts expected.
This year might be a bit of a drag, technically speaking. The explosive economic growth that we saw in 2021 won't likely continue into 2022 because of "fiscal drag," where there's less money from the federal government going out to regular folks.
Why it matters: Less fiscal stimulus could mean less inflation, as Fed chair Jerome Powell said Wednesday.
Australian Prime Minister Scott Morrison announced Friday a AU$1 billion ($703 million) investment plan for the Great Barrier Reef.
Why it matters: The nine-year plan for projects including water quality improvement, reef conservation and supporting some 64,000 tourism jobs comes months ahead of this year's federal election. It has been criticized by scientists and environmental groups for failing to tackle climate change.
Workers of a Starbucks Atlanta branch intend to hold an election and form a union in the future, the Starbucks Worker's United union announced on Twitter Thursday.
Why it matters: In doing so, they have become the first Starbucks store to do so in the state of Georgia, per the announcement.
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