Business

Spotify, highly valued in private trading, files for a $1 billion IPO
Business

Spotify, highly valued in private trading, files for a $1 billion IPO

Spotify, the popular music, podcast and video streaming service, recently filed paperwork in February for an initial public offering of $1 billion. The company will be traded on the New York Stock Exchange under the ticker symbol “SPOT.” In an uncommon decision, the company’s shares will be listed directly on the exchange, without underwriters to…

US may impose tariffs on metal imports from China, other nations
Business

US may impose tariffs on metal imports from China, other nations

The United States Department of Commerce recently released its recommendation that the federal government should impose tariffs or quotas on the importation of aluminum and steel. The Commerce Department “found that the quantities and circumstances of steel and aluminum imports threaten to impair the national security,” Secretary Wilbur Ross said Friday, Feb. 16, according to…

Business

Amazon will soon organize an independent delivery service

Amazon.com, Inc. recently reported that it will be launching its own delivery service, which will compete directly with United Parcel Service Inc. and FedEx Corp. as well as indirectly with the United States Postal Service and other delivery companies. The shipping service is to be called “Shipping with Amazon,” or SWA, according to The Wall…

Business

WeWork, a New York based startup, is growing at a rapid pace

WeWork is a growing New York-based startup that provides shared workspaces and services for entrepreneurs, startups, small businesses and large enterprises. In recent years, it has expanded to over 20 countries and attracted over 200,000 members. In only eight years, WeWork has built a network of 212 co-working spaces worldwide, but that is not the…

Waymo accepts Uber settlement regarding self-driving car lawsuit
Business

Waymo accepts Uber settlement regarding self-driving car lawsuit

Uber Technologies Inc., the ridesharing startup currently valued at billions of dollars, and Waymo, Google’s driverless car company, finally reached a settlement in their ongoing trade secrets lawsuit. In the lawsuit, Waymo had alleged that former engineer, Anthony Levandowski, stole confidential files full of trade secrets before leaving to build his own startup, Otto. Waymo…

Business

Chipotle hires Taco Bell CEO to help firm regain past success

Chipotle Mexican Grill recently announced it was hiring former Taco Bell Chief Executive Brian Niccol to act as the company’s new CEO on March 5. Current CEO and founder Steve Ells will remain with Chipotle as its executive chairman, according to CNBC. Chipotle, a fast food chain company, was once popular among consumers and investors…

Business

Study finds that women face greater threat from automation

Women are more likely to be negatively affected by automation, according to a study published by the World Economic Forum. The study claims that improvements in artificial intelligence will lead to greater automation, which will replace low-wage jobs that are mostly held by women. The study, titled “Towards a Reskilling Revolution: A Future of Jobs…

Fed imposes sanctions on Wells Fargo following numerous scandals
Business

Fed imposes sanctions on Wells Fargo following numerous scandals

The Federal Reserve has recently handed down unprecedented punishment on Wells Fargo & Co., the world’s second-largest bank by market capitalization, for the bank’s widespread consumer abuses. This includes creating millions of fake customer accounts. Wells Fargo will not be allowed to grow any larger than it was at the end of 2017 until the…

Business

Chase et al declare creation of joint venture health care firm

Amazon, Berkshire Hathaway and JPMorgan Chase, three giants in the technology, insurance and finance industries, recently announced that they would form an independent health care company for their employees based in the United States, according to The New York Times. “The initial focus of the new company will be on technology solutions that will provide…

Cryptocurrency exchange Coincheck’s hack causes $400 million loss
Business

Cryptocurrency exchange Coincheck’s hack causes $400 million loss

Coincheck, one of Japan’s biggest cryptocurrency exchanges, recently disclosed that it had lost at least $400 million worth of NEM coins to hackers. The exchange’s network was hacked on Jan. 25, and the attack went unnoticed for eight hours, according to Engadget. This gave hackers enough time to transfer around 500 million NEM coins, one…

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