Elon Musk has lost $50 billion so far this week after Tesla shares plunged for the second day in a row.
It’s the biggest two-day decline in the history of the Bloomberg Billionaires Index, and the biggest one-day fall after Jeff Bezos’s $36 billion plunge following his divorce from MacKenzie Scott in 2019.
Tesla’s rout comes amid a tumultuous few days for the autom…
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In the hours after the Supreme Court overturned Roe v. Wade on Friday, eliminating the constitutional right to an abortion, several major U.S. corporations announced they would cover travel expenses for employees who had to cross state lines to obtain an abortion.
Dick’s Sporting Goods announced it would provide up to $4,000 in travel expense reimbursement to employees who l…
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On the surface, the Inflation Reduction Act that President Biden signed into law on Tuesday may sound like a massive government spending program. Indeed, it promises to put nearly $370 billion in federal funding behind the energy transition.
But, if you dig deeper, the IRA is less about the power of government spending and more about the power of the private sector. The tax incentives, lo…
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As Anthony Okocha started hearing more and more talk about a potential recession earlier this year, he didn’t get nervous—he got practical. The 2021 college grad says his mindset became “control what I can control and minimize the risk of what I cannot,” while taking steps to prepare for a recession.
“My main focus is on becoming indispensable, or as close to…
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A few months after I graduated from Stanford’s business school in 2013, Theranos was generating buzz on campus—and not all of it was good.
One evening, I found myself in a dinner party conversation with a group of some of the university’s brightest scientific minds. When talk landed on the still mostly-unknown medical technology startup that had raised nearly $100 millio…
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Starbucks joined McDonald’s in announcing a permanent end to its operations in Russia this week, having previously suspended trading in Russia in March. The news comes amid an exodus of Western businesses from Russia, including tech giant Apple and furniture retailer IKEA.
Following Russia’s invasion of Ukraine, Western businesses in Russia have been rushing towards the exit, …
Read moreOn January 5, the Federal Trade Commission announced a policy initiative that could be a major boon for labor. It proposed to ban non-compete clauses for all workers—no exceptions. These contracts bind tens of millions of workers today across nearly all occupations. The FTC estimated its proposed prohibition could increase workers’ collective earnings by as much as $300 billion per …
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Federal Reserve officials raised interest rates by 75 basis points for the second straight month, delivering the most aggressive tightening in more than a generation to curb surging inflation—but risking a sharp blow to the economy.
Policy makers, facing the hottest price pressures in 40 years, lifted the target range for the federal funds rate on Wednesday to 2.25% to 2.5%. That ta…
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Lizzie Schmidt has never worked in a real office, had her own desk or been to a happy hour with colleagues. At 22 years old, the Greenwich, Conn., native and recent graduate of Elon University is part of a generation of newly-minted workers taking their first steps into the working world virtually. And while more established office workers debate returning to their desks, this youngest generati…
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Shannon Jensen was diligent about making sure her sons wore masks to school when classes resumed in September. Other parents in Waukesha, Wis., weren’t. And three weeks after school opened, Jensen’s eldest son, who was seated next to an unmasked classmate who had COVID-19 symptoms, fell ill with the virus.
Soon, another of her boys had tested positive, according to a lawsuit t…
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