Monthly Archives: November 2022

Cobb County, a longtime GOP stronghold, will be critical for Democratic Sen. Raphael Warnock in Georgia’s December runoff

Sen. Raphael Warnock speaks at his Election night event in Atlanta, Georgia, on November 8, 2022. AP Photo/John Bazemore Cobb County, a one-time GOP stronghold, is now critical for Democrats running statewide in Georgia. As of Wednesday, Warnock has a 57%-40.5% countywide lead over Walker in the Senate contest. Warnock’s strong suburban support will be…

Keurig Dr Pepper just invested $50 million in Athletic Brewing, the brand dominating the nonalcoholic beer sector. Here’s how the founder started and grew his brewery after leaving the hedge-fund world.

Bill Shufelt left his job as a hedge-fund portfolio manager to launch Athletic Brewing Company. Athletic Brewing Company Athletic Brewing was cofounded by the former hedge-fund manager Bill Shufelt. He saw a huge gap in the nonalcoholic-beer market, which has grown 352% the past 12 months. The brewery now controls 45% of the market and…

Sam Bankman-Fried deleted his tweet saying FTX ‘assets are fine’ on the day he announced his Binance deal

Sam Bankman-Fried, founder of crypto exchange FTX. Tom Williams/Getty Images The billionaire founders of cryptocurrency exchanges FTX and Binance sparred on Twitter Sunday. FTX founder Sam Bankman-Fried tweeted and then deleted that FTX and its assets “are fine.” Bankman-Fried announced Tuesday that FTX came to an agreement to be acquired by rival Binance. A tweet…

Some small businesses see Zelle as a tax haven from the government’s updated tax rule

The news: Some gig workers and small business owners are reportedly using Zelle to dodge a tax rule that requires Cash App, PayPal, and Venmo to report users’ business payments that exceed $600 in a calendar year to the Internal Revenue Service (IRS) and provide these users with a 1099-K tax form, per Bloomberg. Key context: A Zelle spokesperson told Bloomberg that Zelle payments are not subject…

Facebook moves to ‘desk sharing’ for in-office employees as layoffs and cost-cutting continues

Logo Meta outside Facebook headquarters in Menlo Park, California. Liu Guanguan/Getty Images Many Facebook employees will no longer have personal desk space.  In an effort to reduce spending, the company is “shrinking” its office footprint. “We’ll roll out more cost-cutting changes like this in the coming months,” Mark Zuckerberg said.  Many Facebook employees will no…

Biden’s student-loan forgiveness is at risk. It may have helped stop a ‘red tsunami’ as Gen Z flocked to the polls to save their relief.

George Washington University student Kai Nilsen and other student loan debt activists rally outside the White House a day after President Biden announced a plan that would cancel $10,000 in student loan debt for those making less than $125,000 a year in Washington, DC, on August 25, 2022. Photo by Craig Hudson for The Washington…

There’s a 55% chance of a recession in 2023, chief economist says – but inflation data will determine if the Fed stays aggressive and sparks a downturn

Traders gather on the floor of the New York Stock Exchange, Friday, March 18, 2016. Associated Press/Richard Drew CPI data publishes on Thursday, and it will hold key implications for how aggressive the Federal Reserve is with interest rates moving forward.  One economist said he’s expecting inflation to ease slightly, which could lead the Fed…