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Business World

Business World

Paul McCartney, the Rolling Stones, Ed Sheeran and 1,500 leading U.K. musicians urge the government: ‘Let the music play’

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The mass cancellation of concerts and festivals had silenced many of the world’s leading pop stars. An industry that thrives on live events was decimated by social-distancing rules antithetical to the spirit of togetherness it creates. And now a constellation of the music industry’s biggest stars are banding together and calling for clarity on how to get live music back on its feet. Ed Sheeran, Paul McCartney, the Rolling Stones and Eric Clapton are among 1,500 U.K. musicians urging the government to support the live music industry. “ ‘Government has addressed two important British pastimes — football and pubs —
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Business World

Controversial surveillance startup Anduril gets a $1.9 billion valuation

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Government contracts and immigration are a sensitive issue for Silicon Valley. That’s why Anduril Industries, a three-year-old defense technology company that develops drones and surveillance towers, is taking heat. The company was a target for immigrant-rights activists after selling its products to the U.S. Customs and Border Protection agency as a “virtual wall” of interlinked sentry towers along the Mexico-U.S. border. Its founder, Palmer Luckey, is known to be a supporter of President Donald Trump. On Wednesday, the company announced that it has raised some $200 million in Series C funding, valuing the company at around $1.9 billion, nearly double
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Business World

Coronavirus Sends Oil Prices on Wild, Six-Month Ride

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The coronavirus transformed global oil markets in the first half of 2020, sending prices on a wild ride and spurring historic changes to energy supply chains and products used to invest in crude. Oil started the year trading above $60 a barrel. The pandemic and ensuing global economic shutdown slammed U.S. crude; it fell below $0 for the first time ever in late April. Within weeks, though, prices had recovered. They ended the quarter Tuesday around $40.... Source link
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Business World

Ellevest’s New Membership Model Is Its Most Accessible Yet

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In case you needed a reminder, the gender wealth gap is real: For every dollar a white man owns, a white woman owns 32 cents, and Black and Latinx women own just pennies (this is partially a result of the insane income gap). The gap is only growing wider during the COVID-19 pandemic: Research suggests that the pandemic has disproportionately affected women, people of color, and low-income people, both in terms of health and their finances.“It’s absolutely clear that this recession is hitting women harder,” Sallie Krawcheck, founder of female-focused financial company Ellevest, tells Marie Claire. “The data doesn’t lie.
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Business World

Covid Comparisons, Europe and U.S.

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Scientists are studying why the coronavirus hasn’t had more of a resurgence in Europe after countries lifted their lockdowns while some U.S. states battle explosive outbreaks. But the epidemiologists in the media already know why: GOP Governors and President Trump ignored public-health guidelines and reopened too fast and too soon. “With Trump leading the way, record surge in new infections exposes failures in U.S. response,” the Washington Post wrote Sunday. Liberals are juxtaposing the U.S. with Europe, which ostensibly... Source link
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Business World

Gap stock soars after Kanye West touts collaboration with his brand

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Kanye West and daughter North West attends the "Yeezy Season 8" show as part of the Paris Fashion Week Womenswear Fall/Winter 2020/2021 on March 02, 2020 in Paris, France.Arnold Jerocki | Getty ImagesGap shares soared Friday after Kanye West shared a photo that touted his collaboration with the retailer.Shares closed up 18.8% Friday at $12.07, but had been up as much as 40% earlier in the day. The move added more than $700 million to Gap's market cap, pushing it to about $4.5 billion. Gap and West are developing a clothing line for men, women and kids that will be sold
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Business World

Warning: Russian hackers may be trying to target you with ransomware. Here’s how

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Russian hackers are trying to take advantage of the millions of employees working from home because of shelter-in-place orders. Security firm Symantec said this week that it had discovered and then notified businesses that the Russian hacking group Evil Corp has been targeting remote employees with so-called ransomware attacks. In a typical ransomware attack, criminals send victims an email—often created to look like it’s from a colleague—that contains a link to a malicious site. When users access the fraudulent site, criminals can then take over their computers and demand payment—typically in cryptocurrency like Bitcoin—to regain control of their devices. In the case of
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Business World

The Week It Went South for Trump

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Something shifted this month. Donald Trump’s hold on history loosened, and may be breaking. In some new way his limitations are being seen and acknowledged, and at a moment when people are worried about the continuance of their country and their own ability to continue within it. He hasn’t been equal to the multiple crises. Good news or bad, he rarely makes any situation better. And everyone kind of knows. On Wednesday a Siena College/New York Times poll found Joe Biden ahead 50% to 36%. It’s a poll four months out, but it’s... Source link
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Business World

Albertsons stock is worth buying at $25 when it comes public

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CNBC's Jim Cramer on Wednesday said that Albertsons, the U.S. grocery operator making its third IPO attempt, is worth owning if investors can get the stock at the right price.Albertsons, which owns Albertsons, Safeway, Acme and Shaw's supermarkets in dozens of states, plans to raise up to $1.32 billion when it goes public this week. A group of stockholders is offering almost 66 million shares to the public in the $18 to $20 price range."I think that Albertsons could be worth owning" but should be bought at "no more than $24 to $25," the "Mad Money" host said. "It's definitely
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Business World

Japan already had an army of contract tracers when the coronavirus hit

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The virus might have been new, but for Yuko Koizumi the work was still the same. In Kawasaki, a city just south of Tokyo, nearly 300 people had tested positive for the coronavirus by early June. But Koizumi was unperturbed. As head of infectious disease response for the city’s network of seven public health centers, she was able to draw on a familiar strategy used in past pandemics and seasonal outbreaks: trace infection routes via close contacts, check on recuperating patients, and arrange treatment where needed. It’s a playbook that may have made all the difference in Japan’s unorthodox, though largely
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