Why it matters: As the biggest subscription streaming service in the world, the company is not only a bellwether of its industry, but also of consumer discretionary spending and sentiment.
The U.S. Treasury on Wednesday announced a new round of sanctions against Russia, singling out entities and individuals involved in attempts to evade previous sanctions imposed by the U.S. and its allies.
Driving the news: The sanctions target a key commercial bank, a virtual currency mining company and a "global network of more than 40 individuals and entities led by U.S.-designated Russian oligarch Konstantin Malofeyev."
Treasury Secretary Janet Yellen and Federal Reserve chair Jerome Powell walked out of a G20 meeting on Wednesday when the Russian finance minister, Anton Siluanov, started speaking, according to a source familiar with the matter.
State of play: Yellen and Powell were joined by other world leaders, including European Central Bank head Christine Lagarde, Canadian Deputy Prime Minister Chrystia Freeland and Ukraine's finance minister, Serhiy Marchenko.
Sen. Bernie Sanders (I-Vt.) will make two stops to meet unionizing workers on Sunday, visiting Amazon workers fighting to unionize in New York City and Starbucks employees in Richmond, Virginia.
You can't learn to swim from books. No one can swim without getting in a pool, and no one understands swimming if they haven't swum.
What's happening: People often ask for a primer to read to better understand crypto. There are many good ones. And they aren't what people really need. To understand this stuff, a person needs to do some crypto'ing. That's what follows.
Federal prosecutors have brought criminal charges against 21 people who were allegedly involved in various health care fraud schemes related to the COVID-19 pandemic, the Department of Justice announced Wednesday.
Why it matters: The charges build on previous efforts by the DOJ to clamp down on pandemic-related fraud schemes.
Just Eat Takeaway.com (AMS: TKWY) said it's considering a full or partial sale of Grubhub, less than a year after completing its $7.3 billion purchase of the U.S. food delivery group.
Why it matters: This would be the unwinding of a merger that kicked off a consolidation spree in the food delivery space. After Just Eat first announced its deal for Grubhub, Uber Eats agreed to buy Postmates for $2.65 billion, DoorDash took out Wolt for €7 billion and GoPuff acquired a pair of small British players.
It isn't unusual for celebrities, and pro athletes in particular, to become private equity investors. In most cases, however, it's about gladhanding to seal a deal or fund commitment — maybe while taking a few selfies in a corporate box at the big game.
Steve Young is an exception, because he actually does the job. And that includes the outwardly boring stuff, like launching new investment platforms in non-sexy industries.
Beta Technologies, a Burlington, Vermont-based electric aviation company, announced the close of a $375 million Series B funding round on Wednesday, bringing total venture funding for the maker of electric vertical takeoff and landing aircraft (eVTOL) to nearly $800 million.
Why it matters: Beta aims to achieve FAA certification by 2024 and transform the short-range cargo delivery market, from transporting organs to patients to making last-mile and regional cargo deliveries.
Every April, the world's finance ministers and other economic policy leaders descend on Washington for the spring meetings of the International Monetary Fund and World Bank. Things feel different this year — and not just because D.C. has had a stubbornly late-arriving spring.
Why it matters: The world is facing profound economic challenges — global supply shortages caused by pandemic and war — that defy the ability of economic policymakers to solve through clever management of spending or interest rates.
The prospect of a Russian government bond default may be the most visible market symbol of Russia’s new pariah state status — but there’s also nearly $100 billion in Russian corporate bonds now sitting in a sort of investor limbo.
Why it matters: It's yet another way that markets have been upended in the aftermath of Russia’s invasion of Ukraine — alongside the broken nickel market and sky-high European energy prices.
Netflix's quarterly subscriber loss — its first in a decade — has sent shockwaves through the entire streaming industry.
Why it matters: For years Wall Street rewarded Netflix with an outsized market value for its ability to keep expanding its user base. Now, reality is setting in.
A mirror that can tell you what size you'd take in various clothing brands is starting to make its appearance in retail stores — potentially obviating a trip to the dressing room.
Why it matters: 80% of clothing returns are size-related. When people can try on garments virtually — either online or in front of a smart mirror in a store — they're less likely to return them and more likely to buy additional items.
