As the war in Ukraine continues, the list of businesses cutting ties to Russia grows. It now includes Apple, Nike, Microsoft, Volkswagen, Meta, and Boeing. Max Lytvyn and Alex Shevchenko, the Ukrainia...
Tag: Quartz
Why Rivian tried to charge customers an extra 20% for pre-orders — Quartz
Electric vehicle (EV) maker Rivian reversed course on a price increase yesterday (March 3) that would have charged customers 20% more than the amount originally listed for their cars. Some Rivian cust...
What are India’s payment alternatives to trade with Russia? — Quartz India
India is looking to strengthen its rupee-ruble arrangement to ensure seamless trade with Russia amid disruptions caused by Western sanctions following the Ukraine war. Indian banks rely on The Society...
How Europe could quickly cut its Russian gas use by a third — Quartz
The EU continues to spend hundreds of millions of dollars per day on gas imports from Russia, even as European sanctions kick in and a growing list of Western energy companies cut their ties to Russia...
China’s tech giants face a domestic backlash for exiting Russia — Quartz
US and European firms have scrambled to comply with sweeping western sanctions issued in response to Russia’s invasion of Ukraine. But for many Chinese tech companies, it will be tough to satisfy both...
What Russia trades with the US, China, Brazil and the world — Quartz
The west continues to roll out sanctions against Russia for invading Ukraine. There are restrictions on the paths its airlines can fly, the banking systems it can use, and even the soccer tournaments ...
Why Ukraine wants to sanction Russia by banning it from SWIFT — Quartz
The US and Europe are turning to economic sanctions in an effort to punish Russia for its invasion of Ukraine without tempting nuclear war. What is SWIFT? One sticking point has been SWIFT, the 48-yea...
Supreme Court nominee Ketanji Brown Jackson has sided with unions — Quartz
US president Joe Biden nominated Ketanji Brown Jackson for the Supreme Court today (Feb. 25)—if confirmed, she would become the first Black woman in the role. Her past decisions offer clues to her pot...
Unknown to Air India, an AI firm has been building an app for it — Quartz India
Heard of artificial intelligence being too clever by half? Air India, the Indian carrier that was recently taken over by the country’s Tata Sons, apparently discovered yesterday (Feb. 17) that a littl...
Prince Andrew settled with Epstein victim Virginia Giuffre — Quartz
Prince Andrew has reached a tentative out-of-court settlement with Virginia Giuffre, who accused the British royal family member of sexually abusing her when she was 17 years old. Giuffre, who was one...
How much Moderna stock Stephane Bancel owns and his insider sales — Quartz
On Feb. 11, Moderna CEO Stephane Bancel sold 10,000 shares of company stock, valued at $1.8 million in total. By the following day, Bancel’s Twitter account, had disappeared without warning. Observers...
Heather Morgan & Ilya Lichtenstein arrested for crypto laundering — Quartz
On Feb. 8, the US Justice Department announced that Heather Morgan and Ilya Lichtenstein were arrested and charged for conspiracy to launder stolen cryptocurrency worth an estimated $4.5 billion. The ...
Ford, GM are cracking down on dealers for inflating prices — Quartz
The average price of a new car in the US is higher than ever before, and some of the biggest automakers are starting to blame the dealerships that sell their vehicles. At Ford, for example, the averag...
China’s craze for Eileen Gu is spilling over to its stock markets — Quartz
China has been cheering ecstatically for US-born freestyle skier Eileen Gu, who got a gold medal for China at the Beijing Winter Olympics during the women’s big air competition yesterday (Feb. 8). Now...
Jamie Dimon is no longer using the word “cryptocurrency” — Quartz
Jamie Dimon, the CEO of JPMorgan Chase, has made his contempt for cryptocurrency clear, calling it “worthless” during the great crypto boom in October 2021. But now, he says, he has stopped even calli...
US national debt is not $30 trillion. Here’s why. — Quartz
On Feb. 1, the US Treasury Department reported the national debt hit a record $30 trillion, prompting much hand-wringing about the fragility of the US economy. But that doesn’t mean the federal govern...
Google is outdoing Apple and Tesla with a 20-for-1 stock split — Quartz
Alphabet, the parent company of Google, announced a 20-for-1 stock split along with its quarterly earnings report (pdf) on Feb. 1. It’s only the second split for the stock since it went public in 2004...
The biggest corporate holder of bitcoin is not Square or Tesla — Quartz
While at least 26 publicly traded companies hold bitcoin, just one owns more than half of all cryptocurrency on corporate balance sheets. It’s not Tesla, the electric car manufacturer that accepts bit...
Why Nike, Apple, Amazon, or SoulCycle should buy Peloton — Quartz
Peloton is no longer riding high. The fitness company’s stock was pummeled after news broke last week that it would temporarily halt production as demand softened for its stationary bikes. Peloton sha...
An Indian engineer will run Google’s new blockchain division — Quartz India
Yet another senior executive of Indian origin is running a major unit of a global company; this time, it’s Google’s new blockchain division. Engineer Shivakumar Venkataraman has been appointed to over...
5 things you should know about ‘free’ at-home covid tests — Quartz
Americans keep hearing that it is important to test frequently for covid-19 at home. But just try to find an “at-home” rapid covid test in a store and at a price that makes frequent tests affordable. ...
The US is now the world’s top liquified natural gas exporter — Quartz
Newly-built US terminals and record-high prices in Europe have made the US the world’s top exporter of liquified natural gas for the first time, according to Bloomberg data for December 2021. With pre...
The LIC IPO plan requires India to change its FDI rules — Quartz India
India’s largest and oldest state-owned insurer, Life Insurance Corporation of India (LIC), is next in line to get listed on domestic stock exchanges, following a spree of Indian unicorns. The governme...
Amazon’s Stellantis deal brings its Rivian purchase into question — Quartz
When Amazon announced it would buy 100,000 electric delivery vans from Rivian in 2019, it gave the little-known electric vehicle (EV) startup immediate credibility. Now Amazon is giving Rivian investo...
The maximum amount of money you could have made trading in 2021 — Quartz
If you had $1,000 and knew exactly the right stock to trade every day, how much money could you make in a year? In 2021, trillions. A trader who began 2021 with $1,000 in a brokerage account and put a...