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On the back of a multimillion dollar round, Robinhood raises $320 million more to set a $8.6 billion valuation

Investors are adding hundreds of millions more to Robinhood’s coffers as the pandemic ushers in new customers. On Monday, the stock-trading app announced that it had raised yet another $320 million from new and existing investors, bumping its valuation up to $8.6 billion. New investors include TSG Consumer Partners and IVP. The...

Hong Kong Disneyland and additional venues to close amid new coronavirus safety measures

Hong Kong ordered gyms and bars to close for a week, restored strict limits on public gatherings and introduced fines for anyone refusing to wear a mask on public transport in a fresh bid to prevent the resurgent coronavirus from spiraling out of control. The tougher measures, to take effect Wednesday, include drastically limiting the number...

Here’s a shocker: WeWork says it’s on track to be profitable by 2021

It would appear that rumors of WeWork’s demise have been greatly exaggerated. That’s according to Marcelo Claure, the SoftBank executive who’s been charged with revitalizing the beleaguered shared office-space provider after its botched IPO last year. In an interview with the Financial Times on Sunday, Claure—who presently serves as WeWork’s...

SiriusXM buys podcast business Stitcher for $325 million

SiriusXM is acquiring the podcast and Internet radio service Stitcher from E.W. Scripps Co. for $325 million, the companies announced Monday. The move gives Sirius, a company mostly known for its satellite radio channels, a leg up in an increasingly competitive podcast industry. (Spotify has significantly expanded its podcast offerings with...

What I learned when I trained to be a coronavirus contact tracer

When the coronavirus lockdown hit my home state of North Carolina in March, I had more free time than most Americans. I am a single woman and long retired from a 40-year working life, including almost 25 years as a reporter, writer, and editor at Fortune. With no children to school and only a few Zoom meetings on my calendar, I decided one day to sign...

5 questions about Coinbase’s rumored IPO

A news report last week claimed that Coinbase, the country’s most prominent cryptocurrency company, is exploring an initial public offering. The report said the company is talking to bankers and lawyers and could go public late this year or sometime in 2021. This is not exactly a bomb shell. Every prominent Silicon Valley startup, including...

Why shares of Tesla, Workhorse, and other electric-vehicle makers are skyrocketing again

Our mission to help you navigate the new normal is fueled by subscribers. To enjoy unlimited access to our journalism, subscribe today. The stock prices of companies in the electric-vehicle sector continued to zoom down the highway on Monday, while fueled by a bevy of positive developments. Leading the pack as usual was Tesla,...

How bad will Q2 earnings be?

This is the quarter we’ve been waiting for. Since the country plunged into lockdown in March, analysts have long projected the data in the 2nd fiscal quarter of the year would be the most grisly—and we’re about to find out just how bad things actually were. “The second quarter of 2020 is expected to be the nadir for this earnings...

AMC theaters line up deal to reduce debt by up to $630 million

AMC Entertainment Holdings Inc. said it has formal approval from a group of noteholders and the Silver Lake private equity fund for its previously announced deal to cut debt and raise cash. The deal will help AMC stay in business while it tries to ride out the coronavirus pandemic, which forced it to temporarily close its theaters. The company...

Ellevest will allow female investors to back companies that support racial justice

Investing in racial justice is an increasingly popular goal for socially responsible investors—and, they admit, an impossible one to fully realize. The sweeping protests against systemic racism have trickled down into the wealthy, white, and male-dominated circles of wealth managers, especially those already committed to sustainable investing....

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