A judge sentenced Joe Sullivan, the former chief security officer at Uber, to three years' probationand 200 hours of community service on Thursday for covering up a 2016 cyberattack from authorities and obstructing a federal investigation.
Why it matters: Sullivan's case is likely the first time a security executive has faced criminal charges for mishandling a data breach, and the response to Sullivan's case has split the cybersecurity community.
There was a giant IPO today. We haven't been able to write that since November 2021, when Rivian went public.
Driving the news: Kenvue, the consumer health products business being spun out of Johnson & Johnson, raised $3.8 billion after selling more shares than originally anticipated.
The U.S.'s largest crypto exchange is poised to get an answer from a top financial regulator on whether crypto-specific regulation is coming, or not.
Driving the news: The Third Circuit Court of Appeals said the SEC had to file a response to Coinbase's writ of mandamus within 10 days of its order filed Wednesday evening.
Central bankers, bothin the U.S. and across the Atlantic, are striking a constructive tone about the overall health of the banking system — a message increasingly at odds with fast-moving developments in financial markets.
Why it matters: Policymakers still seem to view the banking crisis as something that can help them accomplish their goals of cooling down the economy and turning down the dial on inflation, without causing a nasty recession.
But that assumes the crisis won't get significantly worse.
Why it matters: The Fed was at pains to point out Wednesday that "the U.S. banking system is sound and resilient." This chart begins to explain why they might be so sanguine.
Christine Schirmer serves as a senior adviser for Archewell, the organization founded by the Duke and Duchess of Sussex that includes their business portfolio and nonprofit work.
📍How she got here: Schirmer started her career at Apple, where she worked under the late Katie Cotton and supported executive communications for Steve Jobs.
Queen Elizabeth II only gave one sit-down television interview during her lengthy reign — but she still found ways to provide cultural commentary without saying a word.
Why it matters: As attention spans shrink, visual communication has become an increasingly important tool for public figures and brands alike.
Federal Reserve chair Jay Powell yesterday said that the U.S. banking system is "sound and resilient."
The big picture: It was akin to a sports team owner giving the coach a vote of confidence. If you're compelled to say it, things really aren't going well.
Businesses have worked to roll out mental health resources for employees, but the adoption of these benefits is lagging.
By the numbers: 79% of employers said mental health had improved thanks to the company’s resources, compared to 35% of workers, according to a study by The Hartford.
Why it matters: Employers who implement result-driven mental health strategies are more likely to see an engaged, happy and productive workforce.
The economy continues to shift away from buying and selling goods — which was big during and after the pandemic — and back toward services, traditionally the driver of the U.S. economy.
Why it matters: Focusing on the slowdown in manufacturing, or falling commodities prices — such as crude oil — may obscure the importance of the service economy. That gives a false impression of how the economy is doing overall.
You may have heard something in the news lately about homebuyers with good credit scores paying more for mortgages in order to subsidize those with lower credit scores.
Why it matters: It's not true. This year, the fee structure around mortgages set by housing regulators did change, but rest assured those with good credit scores still pay less than those with worse ones.
If you're confused by the current banking crisis, that's entirely understandable: We live in very confusing times.
The big picture: The 70 years from 1946 to 2015 individuals and companies could make long-term plans. Then in quick succession came 2016 (Brexit and Trump), 2020 (COVID-19) and 2022 (Russia invading Ukraine).
Driverless taxi pioneer Waymo is doubling its service area in the Phoenix metro while preparing to ramp up operations in San Francisco and, eventually, Los Angeles.
Why it matters: Waymo is under pressure to turn its autonomous vehicle technology into a viable business, which means rapidly scaling paid robotaxi service in multiple cities.
The coronation of King Charles III this weekend will gift a historic opportunity to Kate Middleton watchers interested in emulating her style.
Why it matters: This will be the first coronation of the social media era, which is responsible for commercializing something that's always been in the realm of royalty: the act of influencing.
Downtown activity has returned to — or even exceeded — pre-pandemic rates in a handful of U.S. cities, but most downtowns are still struggling to attract the foot traffic they once did.
That's according to anonymized mobile device connectivity data analyzed by researchers at the University of Toronto's School of Cities.
Why it matters: Downtowns became ghost towns during the height of the COVID-19 pandemic as people sought to "flatten the curve" by staying at home as much as possible.
Former President Trump's lawsuit against The New York Times was dismissed by a New York Supreme Court judge on Wednesday.
Driving the news: Trump filed a $100 million lawsuit against the NYT and his niece Mary Trump in 2021 over the news outlet's 2018 Pulitzer Prize-winning reporting on his tax records, alleging "an insidious plot to obtain confidential and highly-sensitive records."
Michelle Obama announced Wednesday that she's co-founded PLEZi Nutrition, a food and drink company that says it aims "to help raise a healthier generation of kids."
Driving the news: Building on Obama's "Let's Move!" health campaign that she launched at the White House in 2010 when she was first lady, the first product is a kids' drink called PLEZi , which has no added sugar and 75% less sugar than average leading 100% fruit juices.
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