Business

Pertaining to and impacting businesses, markets and the economy

 
Amazon founder sends his last letter as CEO
 In his last letter as the CEO, Bezos said "we need a better vision for how we create value for our employees.” Bezos said in 2021 Amazon would invest more than $300 million into safety projects.
 
Labor movement in Amazon
Amazon workers at a warehouse in Alabama voted decisively against forming a union on Friday. 1,798 out of 2,536 employees voted against unionization.
 
Nike settles lawsuit over Satan shoes
Nike filed a lawsuit over the black-and-red, devil-themed sneakers, which carry Nike's “swoosh” logo. To end the lawsuit, MSCHF agreed to initiate a "voluntary recall and buyback" of the satanic-themed shoes as well as its previously released Jesus Shoes.
 
Virginia legalizes possession of marijuana
Virginia lawmakers have approved Governor Northam's request to legalize the possession and growth of small amounts of recreational marijuana starting July. The bill to legalize the sale of recreational marijuana was passed in February to be enacted in 2024.
 
Biden willing to negotiate on 28% corporate tax rates
President Joe Biden had proposed to fund his $2 trillion-plus infrastructure plan by increasing corporate taxes from 21% to 28%. Republicans and Corporations had expressed opposition to the planned increase.
 
Bezos supports tax rate hike
In March, President Biden proposed a $2.3 trillion infrastructure plan, which included a hike in corporate tax rates. The plan proposes to increase the corporate tax rate over 15 years, from 21% to 28%, to pay for infrastructure development.
 
US and international tax reforms
Top Democrats on the Senate Finance Committee proposed tax reforms to eliminate incentives for companies to move operations overseas. The senators are targeting provisions in the 2017 Tax and Jobs Act that govern how companies’ foreign income is taxed.
 
Semiconductor chip shortage affects industries
After two months of factory shutdowns early in the pandemic, the automaker industry is now experiencing shortages of critical components, including computer chips. Semiconductor chips are used extensively in vehicles, including entertainment systems, power steering, and brakes.
 
Nike files trademark infringement lawsuit
MSCHF's "Satan Shoes" is allegedly the unofficial design of Nike's trademark Air Max 97. MSCHF Product Studio designed the shoes with performer Lil Nas X.
 
Positive forecast for Tesla amidst security concerns
From the time Ark published its previous note on January 31, 2020, Tesla's stock has risen by 400%. China's military, according to reports, banned Tesla cars from its facilities because of security concerns about the data collected by cameras installed in the cars.