Elon Musk reclaims top spot as world's richest person

Elon Musk has reclaimed the title of the world's richest person. According to Forbes' real-time billionaire's list, the Tesla and SpaceX founder now has a fortune of $200.4 billion, surpassing Amazon and Blue Origin founder Jeff Bezos' $193.1 billion, LVMH Moët Hennessy – Louis Vuitton SE CEO Bernard Arnault and family's $174 billion, Microsoft co-founder Bill Gates' $129.3 billion, and Facebook CEO Mark Zuckerberg's $121.8 billion.
Read more: https://www.foxbusiness.com/business-leaders/elon-musk-reclaims-top-spot-as-worlds-richest-person?source=Snapzu

Lego doubles profits as demand soars beyond Covid-19 lockdown

Brick brand says it does not not expect problems with Christmas stock despite global supply crisis
Read more: https://www.theguardian.com/lifeandstyle/2021/sep/28/lego-profits-covid-19-lockdown-christmas-stock?source=Snapzu

Activision Blizzard strikes $18 million settlement with US employment watchdog

The US Equal Employment Opportunity Commission (EEOC) and Activision Blizzard have settled a lawsuit over the games company’s allegedly pervasive sexual harassment and discrimination. The news follows an EEOC suit filed Monday in California court that was based on a three-year investigation including cooperation from the games publisher. As part of the settlement, Activision Blizzard will create an $18 million fund to compensate employees who claim damages.
Read more: https://www.theverge.com/2021/9/27/22697341/us-eeoc-sues-activision-blizzard-sexual-harassment-discrimination?source=Snapzu

Rising U.S. yields push dollar higher; yen falls to three-month low

The U.S. dollar climbed to its highest level in more than 10 months on Tuesday, while other major G10 currencies weakened, as a rise in U.S. Treasury yields made the greenback more attractive to investors.
Read more: https://www.reuters.com/business/rising-us-yields-push-dollar-higher-yen-falls-three-month-low-2021-09-28/?source=Snapzu

Most Business Owners do not Disclose Cyberattacks

A recent study shows that remote working still poses a significant cybersecurity risk and that business owners prefer to hide cybersecurity incidents.
Read more: https://cybersecuritylog.com/most-business-owners-do-not-disclose-cyberattacks?source=Snapzu

Predictive transactions are the next big tech revolution

In recent years, data has been the world’s hottest commodity. Money has gravitated towards companies that collect it, companies that analyse it, and the data infrastructure companies that provide the digital plumbing that makes it all possible. In the last five years, data infrastructure startups alone have raised over $8 billion of venture capital, at an aggregate value of $35 billion.
Read more: https://venturebeat.com/2021/09/26/predictive-transactions-are-the-next-big-tech-revolution/?source=Snapzu

Economists slash their forecasts for America's growth

Business economists are marking down their forecasts for US growth this year as the Delta variant takes a toll on the recovery, according to a survey released Monday.
Read more: https://www.cnn.com/2021/09/27/economy/gdp-forecast-nabe/index.html?source=Snapzu

How bad are supply chains? Costco is renting ships

Costco (COST), home of the ultimate big box store, is not mincing words about what it's like to run a consumer business in the middle of a pandemic. "Inflationary factors abound: higher labor costs, higher freight costs, higher transportation demand, along with container shortages and port delays, increased demand in certain product categories, various shortages of everything from computer chips to oils and chemicals, higher commodities prices," Chief Financial Officer Richard Galanti told analysts after markets closed Thursday. "It's a lot of fun right now."
Read more: https://www.cnn.com/2021/09/24/investing/premarket-stocks-trading/index.html?source=Snapzu

Billie Eilish and Nike Team Up to Create Vegan Sneaker Collection

Musician Billie Eilish has announced that she will be releasing Air Jordan 15 and Air Jordan 1 KO styles in collaboration with shoewear brand Nike. Scheduled for release on Eilish’s online store on September 27 and Nike’s SNKR site, on September 30, the sneakers are 100% vegan and crafted from more than 20% recycled material.
Read more: https://www.speciesunite.com/news-stories/billie-eilish-and-nike-team-up-to-create-vegan-sneaker-collection?source=Snapzu

Empathy Is The Most Important Leadership Skill According To Research

You always knew demonstrating empathy is positive for people, but new research demonstrates its importance for everything from innovation to retention.
Read more: https://www.forbes.com/sites/tracybrower/2021/09/19/empathy-is-the-most-important-leadership-skill-according-to-research/?sh=4f8277113dc5?source=Snapzu

iOS 15 Adoption Lower Than iOS 14 Over First Two Days, Says Mixpanel

Apple released iOS 15 on Monday, and in the time since, the software update has reportedly seen lower adoption than iOS 14 following its launch last year. According to analytics company Mixpanel, around 8.5% of users installed iOS 15 as of Wednesday at 12:00 a.m. Eastern Time, compared to around 14.5% for iOS 14 as of midnight on the second day after that software update was released.
Read more: https://www.macrumors.com/2021/09/22/ios-15-adoption-mixpanel/?source=Snapzu

Uber to pay pensions to all its UK drivers, backdated to 2017

Uber is to pay out millions of pounds in missed pension payments to UK drivers dating back as far as 2017 under a deal with the retirement savings watchdog. The ride hailing company was forced to guarantee its 70,000 UK drivers a minimum hourly wage, holiday pay and pensions in March this year after a landmark supreme court ruling over their employment status. Couriers for the group’s UberEats food delivery service are not included in the deal.
Read more: https://www.theguardian.com/technology/2021/sep/24/uber-to-pay-pensions-to-all-its-uk-drivers-backdated-to-2017?source=Snapzu

Delta has banned more than 1,600 unruly passengers. Now, it wants airlines to share ban lists.

More than 1,600 people have been banned by Delta Airlines since the federal government has required airplane passengers to wear masks — and now, the company wants other airlines to share their ban lists.
Read more: https://www.cbsnews.com/news/delta-unruly-passengers-banned-list/?source=Snapzu

Amazon boss Bezos won’t pay taxes ‘out of kindness’, says Boris Johnson

Amazon boss Jeff Bezos is not going to pay his taxes “as an act of kindness” and it is up to governments to make sure that big business operators like him pay what is due, Boris Johnson has said. The prime minister confronted the world’s richest man over Amazon’s tax bill when the pair met on the margins of the United Nations general assembly in New York on Monday.
Read more: https://www.independent.co.uk/news/uk/politics/jeff-bezos-boris-johnson-amazon-b1924087.html?source=Snapzu

Bank of America cuts China growth forecast under Evergrande shadow

Bank of America cut its China growth forecast on Tuesday in response to intensifying troubles at property giant Evergrande, a fresh COVID outbreak and a widespread regulatory squeeze, going beyond warnings issued by other investment banks.
Read more: https://www.reuters.com/article/china-gdp-bofa-idUSKBN2GH0TN?source=Snapzu

MLB moves bat production company from United States to China

When Major League Baseball hosted its "Field of Dreams" game in Iowa in August, it was a celebration of small-town America. But less than 100 miles away, a small town is worrying that its local economy, that's centered around baseball, is getting shut out. Kris Van Cleave traveled to Caledonia, Minnesota, where a factory partially owned by MLB is closing up shop and shipping jobs overseas.
Read more: https://www.yahoo.com/news/mlb-moves-bat-production-company-124513322.html?source=Snapzu

Bill Gates' green tech fund bets on Silicon Valley farming robots

As California struggles with another crippling drought, a Silicon Valley startup that believes robots can grow produce more sustainably said Wednesday it raised $50 million in a funding round led by Bill Gates' Breakthrough Energy Ventures.
Read more: https://www.reuters.com/technology/bill-gates-green-tech-fund-bets-silicon-valley-farming-robots-2021-09-22/?source=Snapzu

Small farmers have the answer to feeding the world. Why isn’t the UN listening? | Elizabeth Mpofu and Henk Hobbelink

We’re among the thousands boycotting the UN food summit – it’s been hijacked by corporate interests while the voices of small-scale farmers go unheard
Read more: https://www.theguardian.com/global-development/2021/sep/23/small-farmers-have-the-answer-to-feeding-the-world-why-isnt-the-un-listening?source=Snapzu

Netflix lands golden ticket by buying Roald Dahl estate

Netflix has bought the rights to Roald Dahl's classic children's books from the author's family. The deal means the streaming giant will own creations like Charlie and the Chocolate Factory and The BFG. Netflix will control what happens to them in publishing as well as TV and film - and receive the royalties.
Read more: https://www.bbc.co.uk/news/entertainment-arts-58648566?source=Snapzu

Bitcoin scammers used Apple's iPhone 13 reveal to steal $69,000 from fans

Scammers have utilised a fake event stream, a faked Apple website and the promise of free Bitcoin to scam unsuspecting fans during the iPhone 13 reveal event, the media reported.
Read more: https://www.businessinsider.in/cryptocurrency/news/bitcoin-scammers-used-apples-iphone-13-reveal-to-steal-69000-from-fans/articleshow/86424300.cms?source=Snapzu

Ford will recycle its EV batteries with ex-Tesla exec’s startup

Ford has tapped startup Redwood Materials — run by former Tesla chief technology officer JB Straubel — to handle the recycling of its electric vehicle batteries. The two companies also plan to use this new partnership to help build out the battery supply chain in the United States, which is something that the Biden administration has stressed as a goal.
Read more: https://www.theverge.com/2021/9/22/22687116/ford-redwood-materials-electric-vehicle-battery-recycling-jb-straubel?source=Snapzu

Warren Buffett likely took a $5 billion hit on just 5 stocks during Monday's slump

Warren Buffett likely took a $5 billion hit across only five stocks on Monday, as investors dumped equities in response to the news that Chinese real estate developer Evergrande could default on up to $300 billion of debt. Buffett's Berkshire Hathaway saw $2.8 billion wiped off the value of its Apple stake, as the iPhone maker's stock price slid 2% on Monday. The market downturn cut Bank of America's stock price by 3%, erasing $1.3 billion from Berkshire's position in the lender. Berkshire's American Express, Coca-Cola, and Kraft Heinz stakes also dropped in value by a combined $800 million.
Read more: https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-stocks-apple-coke-amex-market-decline-2021-9?source=Snapzu

Facebook denies 'wilfully' ignoring internal research if findings 'inconvenient for the company'

It follows Wall Street Journal articles which revealed internal documents, including one which stated: "We make body image issues worse for one in three teen girls."
Read more: https://news.sky.com/story/facebook-denies-wilfully-ignoring-internal-research-if-findings-inconvenient-for-the-company-12412777?source=Snapzu

Amazon says it’s permanently banned 600 Chinese brands for review fraud

But some products are slipping through Amazon’s net
Read more: https://www.theverge.com/2021/9/17/22680269/amazon-ban-chinese-brands-review-abuse-fraud-policy?source=Snapzu

Nike and Amazon among brands advertising on Covid conspiracy sites

Household names may have unwittingly helped spread fake news, investigation reveals
Read more: https://www.theguardian.com/world/2021/sep/18/nike-amazon-among-brands-advertising-on-covid-conspiracy-sites?source=Snapzu

Apple facing class action lawsuits over MacBook M1 screen cracks

Last month, we covered reports of screen cracks appearing on the MacBook Air M1 and MacBook Pro M1 laptops, seemingly without any mishandling. In some cases Apple reportedly offered free repairs but not in others. Now, the problem has caught the attention of two law firms, which have independently launched class action lawsuits against Apple.
Read more: https://www.tomsguide.com/news/apple-facing-class-action-lawsuits-over-macbook-m1-screen-cracks?source=Snapzu

The computer chip industry has a dirty climate secret

The semiconductor industry has a problem. Demand is booming for silicon chips, which are embedded in everything from smartphones and televisions to wind turbines, but it comes at a big cost: a huge carbon footprint. The industry presents a paradox. Meeting global climate goals will, in part, rely on semiconductors. They’re integral to electric vehicles, solar arrays and wind turbines. But chip manufacturing also contributes to the climate crisis.
Read more: https://www.theguardian.com/environment/2021/sep/18/semiconductor-silicon-chips-carbon-footprint-climate?source=Snapzu

Artificial intelligence is taking over real estate – here's what that means for homebuyers

Brick-and-mortar real estate may seem like the only tangible thing left in an increasingly virtual world, but it too is being taken over by artificial intelligence. Some of the biggest names in the business, such as Compass, Zillow and LoanSnap, are now employing AI to help find buyers the perfect mortgage and the perfect home. And for real estate agents, it may already be a game-changer.
Read more: https://www.cnbc.com/2021/09/17/what-artificial-intelligence-means-for-homebuyers-real-estate-market.html?source=Snapzu

The Biden administration could sidestep McConnell's refusal to pay America's bills by minting a $1 trillion platinum coin

A new fight over the debt ceiling is brewing on Capitol Hill. Senate Minority Leader Mitch McConnell has firmly dug in on refusing GOP help to renew the US's ability to pay off its bills, known as the debt ceiling. Instead, the Kentucky Republican said it's up to Democrats to raise it in order to finance their social spending plans on healthcare, education, and childcare. He insists he's not "bluffing."
Read more: https://www.businessinsider.com/mint-1-trillion-platinum-coin-debt-ceiling-2021-9?source=Snapzu

The 10 fastest-growing jobs of the next decade—and how much they pay

The Bureau of Labor Statistics projects the U.S. will add 11.9 million jobs through 2030, many in industries that were hit hardest by the Covid-19 pandemic....and look how many are in healthcare and clean energy!
Read more: https://www.cnbc.com/2021/09/17/the-10-fastest-growing-jobs-of-the-next-decadeand-how-much-they-pay.html?source=Snapzu

Fed's Powell orders sweeping ethics review after officials' trading prompts outcry

Federal Reserve Chair Jerome Powell has ordered a sweeping review of the ethics rules governing financial holdings and dealings by senior officials at the U.S. central bank, a Fed spokesperson said on Thursday.
Read more: https://www.reuters.com/business/finance/feds-powell-orders-sweeping-ethics-review-after-officials-trading-prompts-outcry-2021-09-16/?source=Snapzu

Taco Bell tests 30-day taco subscription to drive more frequent visits

The newest subscription service isn’t to stream TV shows or movies. It’s for Taco Bell’s tacos. Customers with the Taco Lover’s Pass can order one crunchy taco, soft taco, spicy potato soft taco or Doritos Locos taco per day for 30 days straight on the chain’s app. The cost of the pass ranges from $5 to $10 a month, depending on the location. The Yum Brands chain is testing the program across 17 locations in Tucson, Arizona from Sept. 9 to Nov. 24.
Read more: https://www.cnbc.com/2021/09/13/taco-bell-tests-30-day-taco-subscription-to-drive-more-frequent-visits.html?source=Snapzu

Mailchimp employees are furious after the company's founders promised to never sell, withheld equity, and then sold it for $12 billion

Employees reacted with shock and anger after Intuit announced Monday it was buying Mailchimp for around $12 billion in stock and cash.
Read more: https://www.businessinsider.com/mailchimp-insiders-react-to-employees-getting-no-equity-2021-9?source=Snapzu

US Judge Sentences Crypto Hedge Fund Scammer to 90 Months in Prison

The U.S. Department of Justice announced Wednesday that Stefan He Qin, the founder of two cryptocurrency-focused hedge funds who pled guilty to securities fraud in February, has been sentenced to 90 months in prison for his actions.
Read more: https://www.tomshardware.com/uk/news/us-judge-sentences-crypto-hedge-fund-scammer-90-months?source=Snapzu

FTC set to keep a closer eye on smaller acquisitions made by tech giants

FTC Chair Lina Khan wants the commission to identify potential loopholes in its merger reporting guidelines that allowed some acquisitions to "fly under the radar," according to CNBC. That's one of the FTC's key takeaways after completing its inquiry into the unreported acquisitions by Google owner Alphabet, Amazon, Apple, Facebook and Microsoft from 2010 to 2019. The commission has published its findings over a year after it started the inquiry in February 2020, focusing on 616 transactions valued at over $1 million.
Read more: https://www.engadget.com/ftc-smaller-acquisitions-tech-giants-091043343.html?source=Snapzu

CEO on why giving all employees minimum salary of $70,000 still "works" six years later: "Our turnover rate was cut in half"

In 2015, CEO Dan Price​ raised the salary of everyone at his Seattle-based credit card processing company Gravity Payments to at least $70,000 a year.
Read more: https://www.cbsnews.com/news/dan-price-ceo-on-why-minimum-salary-70000-works/?source=Snapzu

There was insider trading on NFT platform OpenSea, the $1.5 billion start-up admits

Rumors of insider trading at non-fungible token marketplace OpenSea are true, according to a statement from the start-up.
Read more: https://www.cnbc.com/2021/09/15/opensea-insider-trading-rumors-are-true.html?source=Snapzu

ExpressVPN CIO among three facing $1.6 million DOJ fine over Project Raven

The three former US intelligence operatives and military members accused of helping the United Arab Emirates spy on its enemies have agreed to pay the fine, and ExpressVPN says it still trusts the one in its employ.
Read more: https://www.cnet.com/tech/services-and-software/expressvpn-cio-among-three-facing-1-6-million-doj-fine-over-project-raven/?source=Snapzu

Australian graphic design tool startup Canva raises $200M on $40B valuation - SiliconANGLE

Australian graphic design tool startup Canva raises $200M on $40B valuation - SiliconANGLE
Read more: https://siliconangle.com/2021/09/14/australian-graphic-design-tool-startup-canva-raises-200m-40b-valuation/?source=Snapzu

Revolt of the delivery workers

Robbed, stabbed, beaten, underpaid, and overworked. They have had enough.
Read more: https://www.theverge.com/22667600/delivery-workers-seamless-uber-relay-new-york-electric-bikes-apps?source=Snapzu

Activision Blizzard sued again, this time for labor violations

Activision Blizzard hit with yet another lawsuit.
Read more: https://www.theverge.com/2021/9/14/22674269/activision-blizzard-sued-nlrb-labor-violations?source=Snapzu

Consumer prices post smaller than expected increase in August

Prices for an array of consumer goods rose less than expected in August in a sign that inflation may be starting to cool, the Labor Department reported Tuesday. The consumer price index, which measures a basket of common products as well as various energy goods, increased 5.3% from a year earlier and 0.3% from July. A month ago, prices rose 0.5% from June.
Read more: https://www.cnbc.com/2021/09/14/consumer-price-index-august-2021.html?source=Snapzu

Amazon boosts hourly pay to over $18, to hire 125,000 workers

Amazon.com Inc hiked its average starting wage to $18 per hour on Tuesday and said it plans to hire more than 125,000 warehouse and transportation workers in the United States.
Read more: https://www.reuters.com/business/amazon-hire-125000-workers-pay-hourly-wages-18-2021-09-14/?source=Snapzu

The United States Will Spend $3.5 Trillion Without Batting an Eye—as Long as It’s on War.

A new report from Brown University's Costs of War project is a reminder that cost concerns around the reconciliation bill just don't add up.
Read more: https://www.esquire.com/news-politics/a37575881/14-trillion-defense-spending-costs-of-war-project/?source=Snapzu

Intuit to buy Mailchimp for $12 billion

It's a huge windfall for founders of the company, which didn't give stock to employees.
Read more: https://www.axios.com/intuit-buy-mailchimp-12-billion-85feba65-e142-4756-8fa6-b8af63988902.html?source=Snapzu

Prison Company Patents VR to Give Inmates Brief Taste of Freedom

Global Tel Link Corporation says the system would allow an inmate to "for a brief time, imagine himself outside or away from the controlled environment."
Read more: https://www.vice.com/en/article/3aqm4k/prison-virtual-reality-vr-global-tel-link?source=Snapzu

Tesla opens a showroom on Native American land in New Mexico, getting around the state's ban on automakers selling vehicles straight to consumers

Tesla has opened a sales, service, and delivery center in New Mexico on Native American land, The Santa Fe New Mexican reported. The move allows it to bypass legislation that bans automakers from selling their vehicles straight to consumers in the state, rather than through third-party dealers, the publication reported. Nambé Pueblo in Santa Fe County isn't subject to the state law.
Read more: https://www.businessinsider.com/tesla-new-mexico-nambe-pueblo-tribal-land-direct-sales-ban-2021-9?source=Snapzu

Apple shares recover ground after Epic ruling slide

Apple Inc's shares inched higher on Monday after losing about $84 billion in market value in the previous session on the back of a U.S. judge's mixed decision in the iPhone maker's fight with "Fortnite" game maker Epic Games.
Read more: https://www.reuters.com/technology/apple-shares-rise-epic-ruling-led-slide-2021-09-13/?source=Snapzu

Major win for Epic Games: Apple has 90 days to open up app store payments

On Friday, the Northern California judge handling the closely watched Epic Games v. Apple court case turned in a ruling that, in many ways, works out in Apple's favor—but with one massive, App Store-changing exception. The ruling from US District Judge Yvonne Gonzalez Rogers includes a single-page permanent injunction demanding that Apple open up payment options for any software sellers on the App Store. In other words, Epic Games' effort to add Epic-specific payment links inside the free-to-play game Fortnite, and thus duck out of paying Apple's 30 percent fee on in-app transactions, can now happen.
Read more: https://arstechnica.com/gadgets/2021/09/injunction-apple-must-open-up-app-store-payments-in-90-days/?source=Snapzu

Apple can no longer force developers to use in-app purchasing, judge rules in Epic Games case

Apple’s lucrative App Store business received a major blow Friday thanks to a federal judge’s decision in the company’s legal battle with Epic Games. Judge Yvonne Gonzalez Rogers handed down the decision in the closely watched trial, and issued an injunction that said Apple will no longer be allowed to prohibit developers from providing links or other communications that direct users away from Apple in-app purchasing. Apple typically takes a 15% to 30% cut of gross sales.
Read more: https://www.cnbc.com/2021/09/10/epic-games-v-apple-judge-reaches-decision-.html?source=Snapzu