Business

How a 10-second video clip sold for $6.6 million

In October 2020, Miami-based art collector Pablo Rodriguez-Fraile spent almost $67,000 on a 10-second video artwork that he could have watched for free online. Last week, he sold it for $6.6 million. The video by digital artist Beeple, whose real name is Mike Winkelmann, was authenticated by blockchain, which serves as a digital signature to […]

Business

Texas power crisis deepens as more companies skip payments due to grid operator

Texas energy companies failed to pay another $345 million for electricity and other services incurred during last month’s cold snap, the operator of the state’s grid said on Monday. The state’s deregulated electricity market was thrown into turmoil last month as 48% of its generating plants went offline, fueling up to $9,000 per megawatt hour […]

Business

Congressional delegation to visit Amazon facility in Alabama to support union vote

A congressional delegation will visit an Amazon.com Inc facility in Alabama on Friday to show their support for workers who will vote on whether to unionize. Amazon, America’s second-biggest private employer behind Walmart Inc, does not have any union labor in the United States, and workers at its fulfillment center in Bessemer, Alabama, would be […]

Business

Workhorse to meet USPS on Wednesday to discuss loss of delivery contract

Workhorse Group Inc shares rose after it disclosed it will meet with U.S. Postal Service on Wednesday after the electric-vehicle maker lost a multibillion-dollar contract to Oshkosh Defense for making postal delivery vehicles last week. “We have requested pursuant to the publicly provided bid rules – bid process rules, additional information from the U.S. postal […]

Business

S&P 500 surges in strongest one-day rise since June

The S&P 500 surged on Monday in its strongest one-day gain since June as bond markets calmed after a month-long selloff, while another COVID-19 vaccine getting U.S. approval and fiscal stimulus bolstered expectations of a swift economic recovery. Johnson & Johnson ended up 0.5%, but off earlier highs, after it began shipping its single-dose vaccine […]

Business

Huawei CFO’s lawyer disputes what HSBC knew as U.S. extradition case resumes

Huawei Chief Financial Officer Meng Wanzhou’s U.S. extradition hearing resumed in a Canadian court on Monday with defence countering prosecutors’ claims that Meng misled HSBC about the Chinese telecom company’s relationship with its affiliate while doing business in Iran. As five days of hearings in the British Columbia Supreme Court started, the defence drilled into […]

Business

SoftBank-backed Compass makes IPO filing public, reveals revenue jump

Real estate brokerage firm Compass Inc published its filing for an initial public offering and revealed a 56% surge in revenue helped by a strong housing market on Monday. Compass, which runs an integrated software platform that serves real estate agents in the residential real estate market, has been lifted by the COVID-19 pandemic as […]