Business news 05 Mar, 2021

Social Security Administration sounds alarm over spike in scamming attempts | TheHill - The Hill

The Social Security Administration is sounding the alarm ove...

Why a Prominent Group of Catholic Bishops Is Objecting to the Johnson & Johnson Vaccine - Slate

What will the impact be?

How stimulus checks can give you a $14,000 windfall this year - Yahoo Finance

Some households are collecting a big pile of federal money in 2021.

Giant Eagle extends Heinz Field COVID-19 vaccination clinic - WTAE Pittsburgh

Appointments for March 8-9 will be made available online Friday

Minnesota Vikings practice field in Eagan to become Johnson &Johnson vaccination site Friday - Minneapolis Star Tribune

Some 13,400 seniors and health care workers will get shot at team headquarters

Pharma Bro Martin Shkreli hit with class action suit for creating drug 'monopoly' - New York Post

Pharma Bro Martin Shkreli was slapped with a class action lawsuit Thursday from health insurers who claim he engaged in a scheme to create a pharmaceutical monopoly that allowed him to raise the pr…

Companies going public, lockup expirations will weigh on the market, Jim Cramer says - CNBC Television

Omaha Alamo Drafthouse franchise says bankruptcy doesn't include local theaters - Omaha World-Herald

The franchise partner of Omaha's Alamo Drafthouse Cinemas said Thursday that only the parent corporation of Alamo has filed for bankruptcy and that doesn't include local metro theaters.

Will I test positive for COVID after getting vaccinated? Will we need the vaccine every year? - WDIV ClickOnDetroit

Since the coronavirus pandemic began, Dr. Frank McGeorge has been keeping viewers up-to-date and informed on all fronts. He’s been answering your questions about the vaccine, the vaccination process and more.

Costco Sales Rise 15% in Latest Quarter - The Wall Street Journal

E-commerce sales for the warehouse chain rose nearly 75%

Dow futures fall 100 points after a steep sell-off on Wall Street amid surging bond yields - CNBC

The move in futures followed a sharp sell-off triggered by Federal Reserve Chair Jerome Powell's remarks on rising bond yields.

Stores are closing. This discount chain plans to move in - CNN

A record number of stores are closing across America. One discount clothing chain thinks it can step in to fill some of those vacancies.

Kroger CEO says he expects normal levels of food inflation in 2021 but that prices may be volatile - CNBC

Kroger CEO Rodney McMullen told CNBC on Thursday he does not anticipate problematic food inflation in 2021 but that month-to-month prices may be volatile.

Porsche’s Taycan Cross Turismo is a wagon-y follow-up to its first EV - The Verge

The second EV in Porsche’s lineup, the Taycan Cross Turismo offers a lot more utility than the sedan without sacrificing much at all on performance. It’s due out later this year with a starting price of around $90,000.

US debt projected to balloon to more than double GDP by 2051 - Aljazeera.com

The Congressional Budget Office warned that by 2051, US debt will skyrocket to 202% of GDP up from 102% this year.

BUZZ, the ETF of Social-Media Darlings, Drops in Trading Debut - The Wall Street Journal

The fund doesn’t include GameStop or AMC, but it does have Tesla, DraftKings and other stocks frequently talked up on Reddit, Twitter

Pfizer Plant Helping Boost Vaccines Has Repeat Quality Offenses - Bloomberg

Argo Blockchain CEO becomes first publicly traded company exec paid in Bitcoin - Cointelegraph

First salaries, then... dividends? Argo Blockchain's Peter Wall says crypto for all major transactions is inevitable.

Jeep’s 2022 Wagoneer will have Amazon Fire TV built in - The Verge

Jeep’s 2022 Wagoneer and Grand Wagoneer SUVs will be the first cars with Amazon’s Fire TV streaming service. The cars will offer a custom remote, work with Alexa, and allow users to download content.

Trump Organization Is Reportedly Suing Marc Fisher for Allegedly Skipping Out on $1.5 Million in Rent Payments - Yahoo Lifestyle

Marc Fisher's showroom occupied the 21st floor and part of the 22nd floor at the Trump Tower.

Gap forecasts return to sales growth in 2021, sending shares higher despite sales miss - CNBC

Gap Inc. is calling for a bounce back to sales growth in 2021, hopeful that customers will soon return to its stores and spend more money on apparel.

FPRX Stock Rockets On Amgen's $1.9 Billion Takeover - Investor's Business Daily

Amgen said Thursday it will spend $1.9 billion to buy Five Prime Therapeutics, which is testing a stomach cancer drug. The news sent FPRX stock rocketing.

Treasury to Invest $9 Billion in Minority Communities - The New York Times

Treasury Secretary Janet Yellen is making Community Development Financial Institutions central to achieving an inclusive economy.

Arizona House advances bill targeting Apple, Google mobile app stores - Ars Technica

The Arizona bill has already gotten farther than a similar one in ND did.

Opendoor Announces Fourth Quarter and Full Year 2020 Results - Yahoo Finance

Exceeds prior expectations for fourth quarter and full year 2020 resultsDoubling of markets expected for 2021 SAN FRANCISCO, March 04, 2021 (GLOBE NEWSWIRE) ...

Google Crushed Many Digital Ad Rivals. But a Challenger Is Rising. - The Wall Street Journal

The Trade Desk is second in the market for buying ads across publishers’ sites

OPEC And Allies Keep Oil Production Steady As Saudi Arabia Urges 'Caution' - NPR

Oil prices have risen remarkably over the last few months. Now the powerful oil cartel is keeping a lid on supply in an attempt to push crude prices even higher.

Italy blocks export of AstraZeneca coronavirus vaccine to Australia, amid E.U. anger over delivery shortfalls - The Washington Post

This is the first time an E.U. country has used a new export control power.

Ford's Mustang Mach-E is eating into Tesla's US sales - CNN

Tesla is starting to lose market share among US buyers of electric vehicles, and Ford's Mustang Mach-E appears to be the beneficiary.

Recology to repay San Francisco customers nearly $100M in overcharged fees - SF Gate

If you're a Recology customer in San Francisco, you may soon see a sizable reimbursement...

GameStop Bucks Market’s Slump Amid Renewed Reddit Chatter - Yahoo Finance

(Bloomberg) -- GameStop Corp. erased earlier losses to rise to the highest level since Feb. 1 as a wave of Reddit users appeared to rush back into its...

What are SPACs, the IPO alternative used by DraftKings, Lucid, and Nikola? - Vox.com

Six questions about SPACs, answered.

United Center, Des Plaines COVID vaccine sites begin accepting appointments - WLS-TV

The United Center COVID vaccine site in Chicago and another in suburban Des Plaines at a former KMart began accepting appointments online and by phone Thursday.

LinkedIn and Zynga founders’ SPAC sinks on deal for Hippo - Seeking Alpha

Reinvent Technology Partners Z (RTPZ), a SPAC headed by founders or co-founders of LinkedIn and Zynga, dropped as much as 10% Thursday after agreeing to buy online insurance platform Hippo.

UWM CEO Ishbia 'taking a stand' against cross-town rival Rocket Mortgage - Crain's Detroit Business

A longtime rivalry between two of metro Detroit's largest employers escalated a little more Thursday.Mat Ishbia, the president and CEO of Pontiac-based mortgage lender United Wholesale Mortgage Corp., fired a shot across the bow to rival lender Rocket Mortgag…

DHEC releases new coronavirus numbers for Thursday March 4 - WYFF4 Greenville

The South Carolina Department of Health and Environmental Control Thursday reported more than 800 new confirmed COVID-19 cases.

Mall Owner Washington Prime Is Said to Prepare Bankruptcy Filing - Yahoo Finance

(Bloomberg) -- Mall owner Washington Prime Group is preparing a potential bankruptcy filing as time runs out to avert a default after it skipped an interest ...

Mark Cuban says he will sell Dallas Mavericks tickets for Dogecoin - New York Post

Mark Cuban is wagging the Dogecoin. After saying last month that the joke cryptocurrency “has no intrinsic value,” the billionaire owner of the Dallas Mavericks said Thursday he has decided to acce…

Jeep open to dropping Cherokee name, CEO says - NBC News

The chief executive officer of Stellantis, the organization that owns Jeep, said Wednesday that the company was open to dropping the Cherokee name from its vehicles.

Creating buzz: Electric scooters, bikes rev up in Downtown Jacksonville - WJXT News4JAX

The City of Jacksonville officially launched a one-year pilot program for e-scooters, e-bicycles and dockless bicycles in Downtown Jacksonville on Thursday.

Lufthansa confirms A380 and 747 ‘phase-out,’ new business class launch - The Points Guy

Singapore Airlines recently made headlines with a further investment in its Airbus A380s, resuming its effort to make cabin upgrades throughout the double-decker plane. Unfortunately Lufthansa’s superjumbos will soon meet a very different fate, as will the ca…

New data show that leading covid-19 vaccines have similarly high efficacy - The Economist

Studies of millions of people, with the same place and time, provide fairer comparisons than clinical trials do

Granholm: DOE's big clean energy spending to come with strings attached - POLITICO

The administration is looking at attaching requirements for high-paying jobs as it rolls out grants to stimulate the transition to a clean energy economy.

Jay-Z sells majority stake in Tidal music streaming service to Jack Dorsey's Square - The Guardian

$297m deal hands control to Twitter co-founder, with Beyoncé, Madonna, Rihanna and other Tidal co-owners retaining stakes

China’s and Russia’s Spying Sprees Will Take Years to Unpack - WIRED

The full extent of the SolarWinds hack and Hafnium’s attack on Microsoft Exchange Server may never be known.

Gas prices will be negatively impacted by 'hostile' Biden administration: Former Shell Oil president - Fox Business

Former Shell Oil President John Hofmeister explains why gas prices are rising.

Amazon's first physical store outside the US doesn't have a checkout line - CNN

There's something unusual about Amazon's first physical store outside the United States: No waiting to pay.

Car hits Bob Evans restaurant in Lancaster County - WGAL Susquehanna Valley Pa.

Police say a preliminary investigation indicates the driver may have accidentally applied the gas pedal instead of the brake.

T-Mobile aims to lead the enterprise market with new 5G unlimited plans and ‘Home Office Internet’ - 9to5Mac

During an Uncarrier livestream event today, T-Mobile unveiled its latest 5G offerings, and they’re specifically for businesses and organizations. The carrier is launching new Enterprise Unlimited Plans, the “Collaborate” phone system, Home Office Internet, an…

Orlando's Super Nintendo World reportedly won't open until 2025 | Engadget - Engadget

After a pandemic-related construction delay, Universal’s Epic Universe park in Orlando will miss its originally planned 2023 opening date.

Veterans of all ages can now get COVID-19 vaccine at Puget Sound VA clinics - Seattle Times

Bed Bath & Beyond CEO Mark Tritton says shoppers are ready to try new brands in a hunt for value - CNBC

Bed Bath & Beyond Chief Executive Mark Tritton says shoppers are increasingly skipping the national brand names and looking to try private labels.

GM is close to building a second EV battery factory in the US, report says - The Verge

GM wants to build a second battery factory in the US, The Wall Street Journal reports. The factory, which is still under discussion, would be built with South Korean battery supplier LG Chem.

It is possible to build houses cheaply in the Bay Area - The Economist

But the construction has do be done elsewhere

ARK Invest adds more Palantir shares - Seeking Alpha

ARK Investment Management added more than 2.6M more shares of Palantir Technologies.

For Some Solopreneurs, the Latest PPP Rules Are Bad News - Inc.

The U.S. Small Business Administration released guidance for how to handle the latest changes to the Paycheck Protection Program. Not everyone will be happy.

Discover Is Opening A Call Center And Bringing 1000 Jobs To Chicago's South Side - WBEZ

The credit card company will occupy a shuttered Target store at 87th Street and Cottage Grove Avenue that closed two years ago.

7-year-old Alabama girl helps to fund her own brain surgery - Associated Press

HOMEWOOD, Ala. (AP) — Liza Scott, 7, started a lemonade stand at her mom’s bakery last summer so she could buy some frills like toys and sequined high-heel shoes. The bouncy little girl is still...

Data Show India's 'Covaxin' COVID-19 Vaccine Is Effective : Coronavirus Updates - NPR

India's homegrown COVID-19 vaccine has been controversial because the Indian government approved its use before clinical trials showed it works. Now data is finally out.

U.S. weekly jobless claims rise moderately as labor market stabilizes - Reuters

The number of Americans filing new claims for unemployment benefits rose last week, likely boosted by brutal winter storms in the densely populated South in mid-February, though the labor market outlook is improving amid declining new COVID-19 cases.

Marvell (MRVL) Q4 Earnings Meet Estimates, Revenues Beat - Yahoo Finance

Robust year-over-year growth in Marvell's (MRVL) Q4 top and bottom lines reflects solid demand for its storage chips from the 5G infrastructure and data...

Sutter Health cancels thousands of COVID-19 vaccine shots - Los Angeles Times

Sutter Health informed 40,000 people their second vaccine shot appointments had been canceled, with possibly more on Thursday and this week.

Colorado AG, labor officials announce task force to combat unemployment fraud - 9News.com KUSA

AG Weiser announced a new task force aimed at investigating and prosecuting those who have committed identity theft.

Leaving Las Vegas Is the Right Move for Sands - The Wall Street Journal

Sands without Las Vegas could pay off, even if it doesn’t have quite the same ring

Bond scares spook world shares, investors look to Powell - Reuters

* Bond worries resurface ahead of Powell's comments later in day

Lockdowns or the planet gets it? Guardian ‘accidentally’ suggests Covid-like shutdowns every 2 years to meet Paris climate goals - RT

The Guardian accidentally confirmed the suspicions of a whole lot of conspiracy theorists with an article suggesting a “global lockdown every two years” was needed to meet Paris climate goals. The title was quickly changed.

SpaceX Starship prototype sticks landing, then explodes - CBS News

The launch and landing were successful, but the prototype exploded a few minutes after touchdown.

Disney to close at least 60 Disney Stores in US and Canada, as shopping shifts to online - USA TODAY

Emphasizing e-commerce, Disney will close 60 North American Disney stores. Its shopDisney online site will be integrated with social media and apps.

COVID In Minnesota: MDH Says State Has Seen 14 ‘Vaccine Breakthrough Cases’ - CBS Minnesota

Minnesota health officials are looking out for positive cases of COVID-19 after someone has been fully vaccinated.

Okta Acquires Fellow Identity Management Company Auth0 In $6.5 Billion All-Stock Deal - Forbes

Okta is acquiring Auth0 for $6.5 billion in stock in a big move in identity management software.