Monthly Archives: July 2022

Charlie Munger says buying crypto is investing in nothing — and he avoids it like a dirty sewer

Charlie Munger. CNBC Charlie Munger slammed crypto as worthless and dangerous, and urged investors to avoid it. Warren Buffett’s business partner called crypto an “open sewer” and sellers “delusional or evil.” Munger also brushed off inflation and the stock-market downturn, and touted fossil fuels’ longevity. Charlie Munger unleashed a fresh barrage of fiery criticism at…

US stocks trade mixed as fresh COVID-19 curbs in China renew fears about global growth

People queue for Covid-19 tests in Shanghai, China. Wang Gang/VCG via Getty Images. US stocks were mixed on Tuesday as fresh COVID-19 curbs in China renewed fears about global growth. Benchmark US oil prices dipped back below $100 a barrel, and the euro briefly reached parity with the dollar.  Earnings season began with PepsiCo beating…

The 25 best CEOs at large companies, rated by BIPOC employees

Satya Nadella ranked number one on this year’s list of Comparably’s best CEOs at large companies that used ratings from BIPOC workers. Justin Sullivan/Getty Images Software and tech leaders made up some of the top spots on Comparably’s “Best CEOs for Diversity” ranking. Using ratings from BIPOC workers, Comparably found Microsoft’s Satya Nadella ranked first…

Canoo surges 107% after the EV maker inks deal to sell up to 10,000 delivery vehicles to Walmart

Canoo Lifestyle Vehicle Canoo Canoo stock jumped more than 100% Tuesday as the EV maker announced a deal to sell 4,500 vehicles to Walmart. Walmart will use the EVs to fufill online orders and make progress towards zero-emissions goals. It could be a course correction for Canoo, which reported a net loss of $346.8 million…

Peloton says it will stop making its own exercise equipment, 5 months after it scrapped plans to build its own factory

Peloton Bike Peloton Peloton said on Tuesday it would no longer manufacture its own fitness equipment. Taiwanese company Rexon Industrial Corp will become the company’s primary manufacturer. The move comes months after its CEO stepped down and it scrapped plans to build its own factory. Peloton, the struggling exercise-equipment company, announced on Tuesday that it…

Doctor plans to give offshore abortions on a boat in federal waters to get round state-level bans

An abortion-rights supporter protests at the Mississippi Capitol on June 28, 2022, in Jackson, Miss. Rogelio V. Solis, File via AP Photo A California doctor is proposing a floating reproductive health clinic to operate in federal waters. The boat would sail in the Gulf of Mexico, near states where abortion is banned. It’s legally untested…