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A daily roundup of the latest financial and market stories, chosen by Flipboard editors.

Curated byThe News Desk

Most recent stories in Business

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The Guardian
2 hours ago
EU moves to rein in ‘wild west’ of crypto assets with new rules
The Guardian - Dan Milmo Global technology editor
The EU has moved to rein in the “wild west” of crypto assets by agreeing a groundbreaking set of rules for the sector, adding to pressure on the UK and US to introduce their own curbs. Representatives from the European parliament and EU states inked an agreement late on Thursday that contains …
3 hours ago
Meta Begins Testing NFT Integration on Facebook
coindesk.com - Oliver Knight
The testing of NFTs on Facebook follows a series of pilot integrations on Instagram in May. Social media giant Meta (FB) has started to test Polygon …
The New York Times
Now
How TikTok Became a Best Seller Machine
The New York Times - Elizabeth A. Harris
Many of this year’s best selling books have something in common, but it’s not any of the usual factors: a famous or long-established author, a tie-in with a movie or TV show. It is TikTok. Early last year, the publishing industry began to notice that the books readers were gushing about on TikTok — …
The Guardian
5 hours ago
FBI offers $100,000 reward for help finding OneCoin ‘Cryptoqueen’
The Guardian - Dan Milmo and agencies
A woman known as the “Cryptoqueen” who is accused of defrauding investors out of $4bn (£3.3bn) by selling a fake cryptocurrency has been placed on the FBI’s list of its 10 most-wanted fugitives. The story of Ruja Ignatova became came to prominence in 2019 via the BBC’s The Missing Cryptoqueen …
Bloomberg
6 hours ago
World’s Top Pension Fund Writes Off Russia Stocks, Sells Bonds
Bloomberg - Hideyuki Sano
Japan’s Government Pension Investment Fund said Friday that it’s been selling Russian assets since March following the invasion of Ukraine, marking …
Business Insider
6 hours ago
Bill Gates' North Dakota farmland purchase was almost derailed by an archaic Depression-era law
Business Insider - Beatrice Nolan
Listen to The Refresh: Insider's real-time news podcast. Bill Gates has been cleared to proceed with the purchase of a North Dakota potato farm after the state's attorney general said it complied with an archaic Depression -era law. This is because the land will be leased back to farmers, according …
TechCrunch
20 hours ago
Nikola delays shareholder meeting to drum up support to issue more shares
TechCrunch - Jaclyn Trop
Troubled electric truck maker Nikola adjourned its annual meeting to July 18, giving the company time to lobby shareholders to pass a money-raising measure to issue more shares of common stock. Nikola said the proposal is crucial to support the growth of the business. The company has been slowed in …
FOX Business
12 hours ago
Atlantic City avoids casino strike with last-minute deal
FOX Business - Ken Martin
Atlantic City casino workers reached agreements on new contracts with four casinos on Thursday, securing labor peace and avoiding a strike on Fourth of July weekend. Local 54 of the Unite Here union reached tentative agreements with the Borgata, which is owned by MGM Resorts International, and three …
CNBC
8 hours ago
Euro zone inflation hits record 8.6% as the European Central Bank prepares for its first rate hike in 11 years
CNBC - Silvia Amaro
Euro zone inflation reached a new record high in June just ahead of the European Central Bank's first rate increase in 11 years. Headline inflation …
CNN
1 day ago
RadioShack's NSFW Twitter account, explained
CNN - By Jordan Valinsky
New York (CNN Business) — Clearly, this isn't your father's RadioShack. The zombie retailer's Twitter account contains a stream of explicit comments, vulgarities and a bunch of drug references. Many companies have edgy social media presences, but not like this. So what's going on? RadioShack is …
The Guardian
7 hours ago
Germany’s move to legalise cannabis expected to create ‘domino effect’
The Guardian - Philip Oltermann in Berlin
Germany is mulling over the consequences of soon becoming the world’s largest potential market for legally sold cannabis, as the country’s left-liberal government presses ahead with plans to allow the controlled distribution of the drug among adults. Olaf Scholz’s coalition government has in recent …
Bloomberg
8 hours ago
UK Mortgage Lending Jump in May Signals Defiant Housing Market
Bloomberg - Andrew Atkinson
UK mortgage lending rose the most in eight months in May and approvals held up better than expected, suggesting the housing market is continuing to …
Associated Press
9 hours ago
India bans some single-use plastic in effort to cut waste
Associated Press - ANIRUDDHA GHOSAL, AP Science Writer
NEW DELHI (AP) — India banned some single-use or disposable plastic products Friday as part of a federal plan to phase out the ubiquitous material in the nation of nearly 1.4 billion people. For the first stage, it has identified 19 plastic items that aren't very useful but have a high potential to …
12 hours ago
UK sandwich chain Pret A Manger to launch in India
bbc.co.uk - BBC News
A firm owned by Asia's richest person has struck a deal to open outlets of the British coffee and sandwich chain Pret A Manger across India. A unit of multi-billionaire Mukesh Ambani's Reliance Industries will run the chain under a franchise agreement. It marks the first venture by Reliance Brands, …
Axios
23 hours ago
$1,000+ a month for new vehicles: Car payments "look more like mortgage payments"
Axios - Nathan Bomey
Four-digit monthly car payments are becoming increasingly common as new-vehicle prices and interest rates spike. Driving the news: 12.7% of buyers who …
12 hours ago
Ducati reveals the key numbers behind its electric MotoE racer
newatlas.com - By Loz Blain
Ducati will take over as the sole motorcycle supplier for the FIM MotoE World Cup from 2023, using the opportunity to build a cracking electric …
Associated Press
13 hours ago
Last-minute deal averts casino strike in Atlantic City
Associated Press
ATLANTIC CITY, N.J. (AP) — The main union for Atlantic City casino workers reached agreements on new contracts with four casinos on Thursday, providing for what one its president called “the best contract we've ever had” and labor peace that will avoid a strike on Fourth of July weekend, one of the …
Bloomberg
13 hours ago
Gucci’s Former London Headquarters Offered as £55 Million Mansion
Bloomberg - Deirdre Hipwell
Gucci’s former London headquarters is being offered for sale for £55 million ($66.6 million) after being transformed into the most expensive house …
Axios
14 hours ago
U.S. blocks $1B in Delaware trust tied to Russian oligarch
Axios - Rebecca Falconer
The U.S. Treasury Department said Thursday it's notified the Delaware-based Heritage Trust that it's blocking more than $1 billion in assets linked …
Bloomberg
14 hours ago
CSIC's Cahill Says OPEC+ in Holding Pattern
Bloomberg
Ben Cahill, senior fellow at the Center for Strategic and International Studies, discusses the geopolitics of energy markets on "Bloomberg Markets: …
CNBC
14 hours ago
Kohl's ends sale talks with Franchise Group, lowers outlook
CNBC - Lauren Thomas
Kohl's announced Friday that it is terminating talks to sell its business, saying that retail environment has significantly deteriorated since the …
The Verge
1 day ago
Airline cancellations are spiking as July Fourth looms
The Verge - Russell Brandom
Ahead of the July Fourth weekend, airlines are facing a wave of concern over flight cancellations — and new pressure from Washington to make sure they’re not leaving travelers in the lurch. Wednesday saw more than 2,000 cancellations in a single day, according to FlightAware data, with uncertainty …
The New York Times
Now
Former Apple Lawyer Pleads Guilty to Insider Trading
The New York Times
A former senior lawyer at Apple who enforced its insider-trading policies pleaded guilty on Thursday to perpetrating an insider-trading scheme, which prosecutors said had involved making stock transactions before the company announced it fell short of iPhone sales expectations. In 2019, the Justice …
Associated Press
17 hours ago
Agency clears way for Oakland Athletics $12B ballpark plan
Associated Press
SAN FRANCISCO (AP) — A California agency on Thursday cleared the way for the Oakland Athletics to continue planning a $12 billion waterfront ballpark project. The San Francisco Bay Conservation and Development Commission voted 23-2 to reclassify a 56-acre terminal at the Port of Oakland as a …
Associated Press
16 hours ago
High court declines to take up fight over airline crew rest
Associated Press - AP
WASHINGTON (AP) — The U.S. Supreme Court declined Thursday to take up a case involving a state law that gives California-based flight crews more generous meal and rest breaks than required by federal rules. Several Virgin America flight attendants sued to be included under the law, and an appeals …
Associated Press
16 hours ago
American offers to boost pilot pay 17% by the end of 2024
Associated Press - AP
DALLAS (AP) — American Airlines is offering pilots raises of nearly 17% by the end of 2024, a sign of the leverage that pilots enjoy as airlines struggle with a labor shortage. CEO Robert Isom said Thursday that the proposal would boost pilot wages at American to the levels detailed in a tentative …
Los Angeles Times
16 hours ago
‘We’re really worried.’ Coronavirus cases jump at L.A. County workplaces, sparking new safety push
Los Angeles Times - Luke Money
An upswing in coronavirus infections has spawned a rise in worksite case clusters in Los Angeles County, prompting health officials to recommend additional measures aimed at tamping down transmission, including reducing crowding and, if there’s a suspected outbreak, expanding remote work. “With the …
Bloomberg Green
16 hours ago
Germany’s Climate Envoy Breaks With Scholz Over G-7's Gas Funding
Bloomberg Green - Jess Shankleman
As host of the Group of Seven this year, German Chancellor Olaf Scholz pushed his counterparts to agree a deal that opens the door for new gas …
Bloomberg
16 hours ago
Hong Kong's Future to Be 'Entirely' Dependent on China's Economy
Bloomberg
Richard Harris, chief executive officer of Port Shelter Investment Management, discusses the outlook for the Chinese economy. He also talks about the …
Los Angeles Times
17 hours ago
Newsom signs state budget bills, with gas refunds to 17.5 million California taxpayers
Los Angeles Times - Taryn Luna
SACRAMENTO — Gov. Gavin Newsom on Thursday signed into law key elements of a new $307.9-billion state budget, a spending plan centered on gas refunds for 17.5 million taxpayers to soften the sting of high fuel prices and the cost of living. The refunds, varying from as little as $200 for individuals …
NPR
21 hours ago
More than 1,200 Delta pilots picket at 7 major airports to call for higher pay
NPR - Fernando Alfonso III
More than 1,200 Delta pilots and staff engaged in seven airport-wide demonstrations on Thursday calling for higher pay, among other things, all while flight cancellations continue around the U.S. on the eve of the holiday weekend. The demonstrations at major airports in New York City, Atlanta, …

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