Good morning, Quartz readers! Here’s what you need to know. The US takes a new step in the chip war with China. The Commerce Department has expanded on last year’s export controls to prevent China from accessing advanced semiconductors. General Motors slows down production of electric pickups, while Stellantis cancels its January CES appearance. GM …
Photo: Chevrolet General Motors is delaying production of its electric pickup trucks at its Orion, Michigan factory for a year due to “evolving EV demand,” as reported by Reuters. This decision suggests that the anticipated EV demand may not be as strong as initially projected by automakers. I Need A Delightful Daily Driver | What …
Tupperware, the renowned food container giant, has announced Laurie Ann Goldman as its new CEO, president, and director. Previously recognized for her exceptional 12-year tenure as the CEO of Spanx, Goldman is credited with transforming the shapewear startup into a successful global omnichannel retailer, reaching unicorn status with a valuation of $1 billion. The news …
An Elon Musk Supporter Invests Millions in Psychedelic Research at Harvard University An Elon Musk loyalist is making a significant investment in researching the potential therapeutic use of hallucinogenic drugs at one of America’s most esteemed academic institutions. Antonio Gracias, CEO and chief investment officer of Valor Equity Partners, has pledged $16 million to Harvard …
The sun sinks behind a smoky sky and burned forest near Mariposa, California.Photo: DAVID MCNEW/AFP via Getty Images (Getty Images) According to a new report by Joint Economic Committee Democrats, the annual cost of wildfires to the US economy ranges from $394 billion to $893 billion. The report reveals that the biggest economic impact comes …
US President Joe Biden recently made headlines with the announcement of a $7 billion program aimed at boosting the domestic hydrogen market. The program will focus on establishing seven regional hydrogen hubs, which have the potential to produce around 3 million metric tons of hydrogen per year. This would result in the elimination of approximately …
The first company to sign up for Google Ads was a lobster delivery company started from scratch by Dan Zawacki in Chicago with only $1,000 in 1989. The company now generates approximately $6 million in revenue with 26 employees. Originally conceived as an affordable way to gift clients with exquisite lobster instead of traditional wining …
BlackRock, the world’s largest asset manager, has addressed social media reports about the approval of its long-awaited bitcoin exchange-traded fund (ETF) by the US Securities and Exchange Commission (SEC). A BlackRock spokesperson stated that the iShares Spot Bitcoin ETF application is still under review by the SEC. After Cointelegraph’s post regarding the ETF on X …
Hedge fund Starboard Value has reportedly acquired a stake in News Corp and may exert pressure on the Wall Street Journal owner to eliminate its dual-class share structure as one of two segments of the Rupert Murdoch media empire. The Murdoch family’s voting stake in News Corp is around 40%, similar to its stake in …
Amazon’s October Prime Day two-day sales ended on a high note, with the e-commerce giant reporting that this year’s holiday kick-off event “outpaced last year’s.” However, it fell short of July’s Prime Day record-breaking $13 billion. Don’t expect the Fed to help your investment in Amazon “Prime Big Deal Days was a strong start to …