News

The Economy

U.S. Housing Starts Decline 7% in July

“As demand continues to overpower builders’ ability to keep up with new inventory, we will keep seeing a stressed housing market."
Cryptocurrency

Walmart Is Hiring a Digital Currency and Cryptocurrency Product Lead

The executive will be in charge of identifying crypto-related investment and developing a digital asset strategy.
Data Security

T-Mobile Confirms Hackers Accessed ‘Some Data’

“If claims that data for 100 million people have been hacked prove to be true, [the] breach will be among the largest carrier data breaches ever."
Financial Performance

Spirit Slashes Guidance After Flight Disruptions

The carrier took a $50 million hit from the disruptions and expects an "additional $80 to $100 million of negative revenue impact" in Q3.
Global Business

China Retail Sales Increase Only 8.5% in July

The Chinese economy's recovery from the pandemic is "losing steam as businesses grapple with higher costs and supply bottlenecks."
The Economy

Census Shows Historic Decline in White Population

"The U.S. population is much more multiracial and more racially and ethnically diverse than what we have measured in the past."
Risk Management

Weather Catastrophes Drive Near-Record Insured Losses

Winter storms, intense heatwaves, and severe flooding triggered $40 billion of estimated losses in the first half of 2021.
Technology

Nikola Wins Research Grant From DOE

The announcement of the grant comes two weeks after Nikola founder Trevor Milton was charged with lying to investors.
M&A

Adidas Sells Reebok to Authentic Brands

Adidas restored Reebok to profitability but "was far less successful in building a brand that was able to capture the hearts and minds of consumers."
Cryptocurrency

Crypto Hacker Returns Half of Stolen Assets

The theft from DeFi platform Poly Network "demonstrates that even if you can steal crypto assets, laundering them and cashing out is extremely difficult."
Regulation

BitMEX Fined $100M in Latest Crypto Crackdown

U.S. regulators alleged the exchange traded digital assets without verifying customer identities and implementing an anti-money laundering program.
The Economy

Small Business Optimism Declines in July

“Small business owners are losing confidence in the strength of the economy and expect a slowdown in job creation."
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