Hiring and retaining people for high-growth tech companies has become easier as economic conditions have changed, new insights from a global survey of CEOs show.
Why it matters: The findings are the latest indication that the tech sector is undergoing a massive talent reshuffling.
Tesla on Wednesday reported record profit and revenue for the fourth quarter but acknowledged that it must make cheaper vehicles to become a bigger automaker.
Details: The company reported net income of $3.69 billion and revenue of $24.3 billion in the fourth quarter, up 59% and 37%, respectively, from a year earlier.
In a big victory for the fast-food industry, California's secretary of state on Tuesday said that enough signatures were collected to trigger a statewide referendum on the landmark Fast Food Accountability and Standards Recovery Act.
Why it matters: The law, AB 257, was hailed as groundbreaking by labor advocates as a way to improve working conditions in the fast-food industry when it was signed by Gov. Gavin Newsom in September.
Binance, the world's largest crypto exchange, kept coins in a wallet with others that didn't belong there, raising the specter of company and customer assets commingling.
The big picture: In the wake of FTX's collapse, in which the commingling of assets appears to have played a role, Binance and its founder Changpeng "CZ" Zhao emphasized the importance of transparency and trust.
In the early years of the pandemic, Americans filed a historic number of applications to start new businesses — importantly, ones that were likely to employ other people.
New data shows that explosion of entrepreneurial activity continued last year, even as inflation and recession fears soared.
Lael Brainard, the No. 2 official at the Fed, is a leading contender to become President Biden's top economic adviser, the Washington Post first reported this morning. It raises an important question: If she heads to the White House, what would it mean for the central bank?
One answer is that it would make her the odds-on favorite to be the next Fed chair, if Biden is re-elected. But that was already the case. There would be a more immediate impact on the Fed if she departs for 1600 Pennsylvania Avenue.
The Biden administration announced a new set of actions on Wednesday intended to protect renters and help curb rental costs.
Why it matters: Rent prices, while slightly decreasing, are still elevated after skyrocketing in 2020 and 2021. The higher housing costs have coincided with inflation that has driven up the cost of food and energy, straining household budgets.
You can call it quiet quitting or whatever buzzword you like, but the bottom line is workers in the U.S. just aren't that happy. Only 32% of employees said they were "actively engaged" at work, or feeling passionate about their jobs, down from a high of 36% in 2020, according to a Gallup report out Wednesday, which averaged survey results across 2022.
Why it matters: Changing requirements around remote and hybrid work and a lack of communication with managers are causing people to psychologically disengage, with increasing numbers feeling like no one cares about them.
Launching a car company is difficult — just ask VinFast, the ambitious Vietnamese electric vehicle (EV) startup struggling to gain traction in the United States amid early missteps and an explosive price war.
Why it matters: The EV market is still taking shape, and it's rarely a bad thing for consumers to have more options and competition.
The U.S. government's latest legal assault on Big Tech asks a court to make Google sell off a chunk of its massive, phenomenally profitable digital advertising business.
Why it matters: The Department of Justice's new suit against Google, filed Tuesday, brings to a crescendo an antitrust campaign against tech's most powerful giants that has consumed both Washington and Silicon Valley for half a decade — and is likely to take just as long for courts to resolve.
Many Americans will be getting a smaller tax refund this year, without the padding of a few crucial pandemic-era tax breaks, the IRS warns.
Why it matters: Many people depend on their refunds to make ends meet, pay down debt or fund extras like vacations. And checks are shrinking at a time when rising prices are already making it harder to pay the bills.
Justin Bieber finalized the sale of his music catalog to Hipgnosis on Tuesday, placing most of his music under the ownership of the U.K. investment firm.
The big picture:John Legend and Bruce Springsteen are among the high-profile music artists to have sold their music catalogs in recent days, but Bieber, 28, reportedly has secured the biggest sale of anyone in his generation.
