Uber CEO Dara Khosrowshahi sent his staff a Sunday-night email this week, setting expectations for a change toward corporate austerity measures at the ride-hailing and delivery app, just days after a ...
Tag: Quartz
How Bond King Bill Gross went full King Lear — Quartz
Bond king Bill Gross is reduced to making news for harassing his neighbors with irritating music. But in his pomp, Gross ruled the bond market, moving global prices with his forecasts and the billions...
How the EU ban on Russian oil could benefit Russia — Quartz
The European Union will halt all imports of crude and refined oil from Russia by the end of 2022, European Commission president Ursula von der Leyen said on May 4. Europe as a whole currently gets one...
Why Twitter reconsidered Elon Musk’s buyout deal — Quartz
When Elon Musk offered to buy Twitter for $43 billion 10 days ago, the platform didn’t welcome him with open arms. The Tesla and SpaceX CEO is in some ways Twitter’s biggest fan—he uses the platform t...
Why aren’t US oil producers drilling more as prices rise? — Quartz
In a free market, the saying goes, high prices cure high prices. If some good or service costs a lot, people will see an opportunity to make money producing more of it, thus driving down the price. Re...
China is trying to change its problematic retirement age — Quartz
China has some of the youngest retirement ages in the world, which is becoming a major problem for a country that is steadily aging. The official retirement age for men is 60. Women in managerial posi...
Why Elon Musk wants Tesla to start mining lithium — Quartz
Individual recruitments at big companies like Tesla don’t ordinarily attract outside attention. But when, in mid-April, an exploration geologist announced on LinkedIn that he’d left Rio Tinto to join ...
What is a poison pill? Inside Twitter’s plan to block Elon Musk — Quartz
On April 15, Twitter’s board of directors adopted a poison pill defense to protect the company from Elon Musk. The Tesla and SpaceX CEO wants to buy the company for $54.20 a share, which could be seen...
Six ways robots are working in the background to serve you food — Quartz
Throughout the pandemic, restaurants and supermarkets have increasingly turned to automation and robots to deal with ongoing labor shortages in the service industry. Businesses in the leisure and hosp...
Shipping lines are refusing to export the West’s plastic waste — Quartz
As of today (April 15), the world’s third largest shipping line, will no longer accept deliveries of scrap plastic on any of its ships. CMA CGM’s ban is a milestone in a global backlash against wealth...
Twitter founder Jack Dorsey tweets about Elon Musk’s takeover bid — Quartz
In the tumult following Elon Musk’s bid to buy Twitter the only voice we haven’t heard from has been the company’s co-founder, Jack Dorsey—until now. Taking to Twitter today, Dorsey answered a couple ...
Big electric trucks and SUVs are the new gas guzzlers — Quartz
New lines of electric trucks and SUVs are hitting the roads. Automakers are marketing vehicles like Tesla’s Cybertruck, Ford’s F-150 Lightning, Rivian’s R1T pickup truck, and GMC’s Hummer EV to custom...
Will the Ukraine crisis break the dollar’s grip on world trade? — Quartz
Russia’s invasion of Ukraine and the economic warfare that followed have reopened the question of whether the dollar’s trade dominance is drawing to an end. What would it take for global commerce to t...
Indian origin CEOs leading American companies — Quartz India
These days, if you fling a stone into Silicon Valley, you are most likely to hit an Indian-origin CEO. Until a decade ago, there was only a handful of them, mostly in consumer goods, tech, and finance...
Is Walmart really turning trucking into a six-figure-salary job? — Quartz
Walmart captured headlines yesterday (April 7) when it said it would pay US truck drivers up to $110,000 in their first year on the job. It’s not alone. Trucking companies across the country have made...
US mortgage interest rates hit 5%, good news for housing market — Quartz
After falling to historic lows last year, mortgage rates are rising sharply. On April 5, they hit their highest point in more than a decade with the average US interest rate for a 30-year fixed-rate m...
Why Citibank left India — Quartz India
Mumbai-based Axis Bank is set to acquire Citigroup’s consumer business. The move follows the US banking giant’s exit from the country as part of a global strategy. Axis Bank yesterday (March 30) annou...
Germany, France prepare for gas cutoffs as Putin escalates threat — Quartz
Russian president Vladimir Putin escalated a threat to cut off gas exports to “unfriendly countries” today (March 31). He signed a decree requiring foreign buyers to pay for Russian gas in rubles by t...
IIT Bombay graduate Raj Subramaniam to be new CEO of FedEx — Quartz India
The Indian Institutes of Technology (IITs) have one more reason to cheer. Another of their alumni has grabbed a top position at a global company. Raj Subramaniam, a product of IIT Bombay, was yesterda...
Why Tesla, Google, and Amazon want to do stock splits — Quartz
The biggest tech stocks are getting cheaper—or, at least, they seem that way. On March 28, Tesla announced that it will split its stock for the second time in two years. The decision also follows simi...
Why did Anil Ambani quit Reliance Infra and Reliance Power? — Quartz India
Anil Ambani‘s good old days are unlikely to return anytime soon. The “penniless” younger brother of Asia’s richest man Mukesh Ambani, last week resigned as director of Reliance Power and Reliance Infr...
What Elon Musk and Jeff Bezos would owe under Biden’s new budget — Quartz
For years some of the wealthiest Americans have paid little to no federal income tax thanks to US laws that don’t recognize unrealized gains, such as stocks or property, as taxable income. Amazon CEO ...
Tata and Adani queue up to buy Anil Ambani’s Reliance Capital — Quartz India
Anil Ambani’s debt-ridden firm Reliance Capital has evoked interest from several quarters, including the 150-year old Tata Group, coal billionaire Gautam Adani’s group, and Yes Bank. Promoted by the R...
It’s three times cheaper to fuel an electric car than a gas car — Quartz
US gas prices are at their highest levels ever. During the week of March 14, national averages peaked at $4.32 per gallon, double the average in 2020, thanks to an unexpected surge in consumer demand ...
After the EU-US deal, Russia counts on India to buy gas and oil — Quartz India
Russia’s list of gas buyers is shrinking. The US and the EU today (March 25) announced a deal for the US to supply Europe with at least 15 billion additional cubic meters of liquid natural gas (LNG) b...
US federal borrowers saved $200 billion during student loan pause — Quartz
An estimated $195 billion worth of US student loan payments has been waived since the federal government enacted a freeze in March 2020 in response to the coronavirus pandemic. The Federal Reserve Ban...
Russia wants the West to pay for oil and gas in rubles — Quartz
Vladimir Putin is insisting that 48 “hostile nations“—the US, the UK, and the EU’s members among them—pay for Russian gas in rubles. The demand is more than provocation; it’s a strategy to force the W...
WeWork founder Adam Neumann has invested in 49 startups — Quartz
Adam Neumann no longer helms WeWork, the company he co-founded and ran until his high-profile ouster in 2019. But he isn’t done with startups. Neumann has invested in 49 companies to date through his ...
Will India continue to import crude oil from Russia? — Quartz India
India is preparing to buy heavily discounted crude oil from its long-time ally Russia. The idea is to minimise domestic macroeconomic risks arising out of the Ukraine-Russia war. The country meets 85%...
How to refuse a return to office mandate — Quartz at Work
In some parts of the world where Covid-19 cases are dropping, it’s starting to feel like the end of the pandemic is in sight. That’s driving governments and companies to begin encouraging—and sometime...
What does Modi’s win at Uttar Pradesh polls mean for Indian stocks? — Quartz India
Indian equities are rejoicing a sweeping victory for prime minister Narendra Modi’s Bharatiya Janata Party (BJP) in the country’s most populous state, Uttar Pradesh. The poll results indicate that the...
Amazon follows Google in issuing 20-to-1 stock split — Quartz
Amazon’s stock is splitting—not in half, but in 20 bite-sized pieces to attract the attention of retail investors and Wall Street’s index makers. It’s the first time the stock has split in more than 2...