Black Thursday

On December 13, 2019, Britain’s newly elected Prime Minister Boris Johnson welcomed “a new dawn.” The Conservative Party had secured its largest parliamentary majority since 1987. Almost 50 new seats had swung the Conservatives’ way, including many in the so-called “red wall”: working-class constituencies in north and middle England traditionally…

Take a stroll around social media and you’ll see no shortage of people talking about “NBA Top Shot,” a collectible, blockchain-based highlight repository that has been around since July of 2019, but caught fire in the last week with over $50M in revenue hauled in by people still trying to…

Investor concerns about a bubble in stocks are growing amid a euphoric bull market. In an interview with Insider, Chris Zaccarelli said easy financial conditions will lead to a crash. The CIO at Independent Advisor Alliance said inflation will eventually force the Fed to up rates. Visit the Business section…

The UK Supreme Court yesterday ruled that Uber’s drivers in Blighty are workers for the app-based taxi service, rather than self-employed contractors, potentially paving the way for more than 40,000 drivers to claim minimum wage and paid time off. The case was brought by former Uber drivers Yaseen Aslam and…

The ongoing fallout over a group of Redditors boosting GameStop and other heavily shorted stocks has landed—inevitably—at the door of the Trump family. While the former president hasn’t spoken out, Don Jr. has, aligning himself with day traders angry that Robinhood has stopped letting its users buy GameStop, Nokia, BlackBerry,…

Getty Images / Corbis News GameStop's stock began the week by spiking on a board-of-directors shake-up.That price action eventually exploded into an all-out battle between online day-traders and short-sellers decrying the share gains.Those short-sellers - including the renowned Citron Research - argued prices will crash soon. But Reddit traders had…

BYD founder and CEO Wang Chuanfu, Charlie Munger, and Warren Buffett celebrate at a car launch. REUTERS/Jason Lee Warren Buffett's Berkshire Hathaway has scored a 30-fold gain on its BYD investment.It spent $232 million in 2008 for a stake worth $7.4 billion today.Here's the story of Berkshire's bet on the…

A Democratic president just entered the White House, so it’s time for Republican state officials to start discussing secession once again. After Barack Obama’s reelection in 2012, disaffected conservatives flooded the White House petition site with calls to leave the Union. (They were predictably denied.) Now a smattering of state…

Workers hang the flags on the West Front facade in preparation for President-elect Joe Bidens inauguration Bill Clark/Getty Images The stock market has shrugged off turmoil in DC and investors are focused on Joe Biden's plans for the economy. Bond yields are around their highest in a year, as traders…

The Covid pandemic will change the world permanently in many ways. Most obviously, people will increasingly work from home. Workplaces will not disappear, but an increasing share of work will be done at home. This will save employers office space and ancillary facilities. It will save employees money, time, and…