This week, a judge dismissed the lawsuit. Jason Ballard, the head of Icon, a construction technology company that has delivered more than two dozen 3-D-printed homes across the U.S. Now our biggest challenge is we’ve just got to make more printers.” ► “I had builders and developers explaining to me how it’s not possible to get concrete to do that, even as I walked them up to our 3-D-printed house. of Salesforce, on how many, if not most, of the company’s employees may continue working from home after the pandemic. ► “I’m sorry to all my friends, but we’re not all going back.” Leland Miller, the head of the consulting firm China Beige Book, on how the struggles of the property developer Evergrande reveal “the beginning of the end of China’s growth model as we know it.” But that’s a good way of describing what’s happening right now.” ► “The term ‘paradigm shift’ is always overused, so people tend to ignore it. Performance of these and related retail names have been mixed: Shares of Honest Company, Jessica Alba’s wellness brand, are down 53 percent since listing, while Figs, the upmarket scrubs company, is up 29 percent. ![]() So far this year, 12 internet retail companies have gone public, compared with nine last year, according to Renaissance Capital. “Clearly, a lot of companies that have raised money are looking to access a broader investor base,” Blumenthal said, seeking to distinguish Warby - whose direct listing won’t raise new funds - from others. On the flurry of direct-to-consumer brands going public. A Times report this week revealed that Rao had impersonated a YouTube executive during a conference call with Goldman Sachs as Ozy tried to raise money from the bank. The digital media company has hired a law firm to investigate its “business activities” and requested that Samir Rao, its chief operating officer, take a leave of absence. Ozy’s board begins an internal investigation. but is expected to triple in the next three years. The pay-later industry, which accounts for around a fifth of sales in Germany and in Sweden, accounts for only around 2 percent of sales in the U.S. The card giant announced plans for new services in the industry that offer shoppers interest-free installment payments. Mastercard gets into the buy-now, pay-later market. The White House hasn’t hinted what it will do when his term is up. Warren and other progressives oppose reappointing Powell because of his track record on financial regulation. Senator Elizabeth Warren calls the Fed chair a “dangerous man.” The Democrat of Massachusetts said during Jay Powell’s appearance before the Senate Banking Committee that when his term as head of the central bank ends next year, she would not support his renomination. What do you think? Let us know at Include your name and location and we may feature your response in a future newsletter. It could be a sign that investors are betting on the first scenario - yet another episode of debt-ceiling brinkmanship that is eventually resolved before things tip over the edge. Investors appear to have regained a measure of confidence today, with stock futures up and bond yields falling. This could lead to a short-term lending market that grinds to a halt, like at the beginning of the financial crisis. Worse, Wall Street’s trading systems have not really been set up to sort defaulted Treasuries from the rest, because few thought a U.S. defaults on some of its bonds, lenders may be unwilling to accept those tainted securities as collateral. ![]() The main problem: Treasuries are widely used as collateral to back up short-term loans. ![]() A prolonged standoff could result in something a lot worse than what happened in 2011 or 2013. Here are two of the main scenarios being discussed on Wall Street as the debt ceiling closes in. A government shutdown, which could happen as early as Friday, would furlough federal workers and disrupt other government services.īut a potential government debt default is what particularly worries market watchers. Nor is it the most immediate economic threat coming out of Washington. This isn’t the first time the government has flirted with the debt ceiling, an artificially imposed borrowing limit that Congress used to raise routinely, but that in recent years has become a partisan cudgel. Treasury Secretary Janet Yellen warned lawmakers at a Senate hearing of “catastrophic” consequences if they failed to suspend or raise the debt limit before the government hit it, which the Treasury estimated could come as soon as Oct. Yesterday’s market plunge seemed to suggest that investors, after months of ignoring the fight over raising the debt ceiling, were suddenly taking the once-unthinkable possibility of a U.S.
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