Author: Press Room

What I’m reading: summer snobs edition I’ve made a decision that I feel very good about: the theme of my summer fiction reading this year is going to be snobbery.This dovetails with my interest in the ways that status and hierarchies limit political change and fuel backlashes. But snob fiction is the fun, lighthearted cousin: books that focus on the odd habits and eccentric preoccupations of people at the top of a particular status hierarchy, and the wild flailing that results when an outsider tries to gain entry — or an insider tries to escape.I’m enjoying “Pineapple Street,” by Jenny…

Washington — In the same Washington, D.C., courthouse where the Justice Department has been convening grand juries to investigate former President Donald Trump’s actions around the 2020 presidential election and his handling of classified documents, federal prosecutors managing a separate case were successful Friday in their request to delay a Trump deposition that had been scheduled for later this month in a four-year-old civil lawsuit filed by former FBI officials. Former FBI counterintelligence official Peter Strzok and a one-time attorney at the Bureau, Lisa Page, sued the Justice Department after they were both fired during the federal probe into Russian interference…

Workers at a rural Georgia factory that builds electric school buses under generous federal subsidies voted to unionize on Friday, handing organized labor and Democrats a surprise victory in their hopes to turn huge new infusions of money from Washington into a union beachhead in the Deep South.The company, Blue Bird in Fort Valley, Ga., may lack the cachet of Amazon or the ubiquity of Starbucks, two other corporations that have attracted union attention. But the 697-to-435 vote by Blue Bird’s workers to join the United Steelworkers was the first significant organizing election at a factory receiving major federal funding…

Curaleaf (CURA) stock price has been in a strong bearish trend in the past few months as the cannabis sector’s hype evaporates. The shares plunged to a low of $3.30 on Thursday, meaning that they have fallen by over 85% from the all-time high in 2020. In the same period, the Global X Cannabis ETF (POTX) stock has crashed by over 90%. Perils of investing in hype In March, I wrote an article where I warned against the risks of investing in trending areas. At the time, I warned that most hyped artificial intelligence stocks like C3.ai and Guardforce AI…

AstraZeneca is the jewel in the FTSE 100’s crown. The pharmaceutical group now has a market capitalisation of £182bn. This places it firmly ahead of Shell, the index’s second-largest constituent, with a market cap of £161bn.This might be difficult to believe given oil’s well-documented resurgence in the wake of the war in Ukraine. But it is a testament to the power of both AstraZeneca’s pipeline and its existing portfolio of medicines. The company recently overtook Pfizer in market value terms — a significant milestone given that the US firm attempted a hostile takeover of its UK rival nine years ago.…

This article is an on-site version of our Moral Money newsletter. Sign up here to get the newsletter sent straight to your inbox.Visit our Moral Money hub for all the latest ESG news, opinion and analysis from around the FT Greetings from New York. I have just returned from Boston, where the mighty Harvard University has been staging its inaugural Climate Action Week in recent days. As Jeremy Grantham, the investment luminary who has long shouted (or thundered) about the risks of climate change, observed in a panel that I moderated, Harvard has been lamentably slow to embrace these issues.…

Award-winning green web3 start-up ecoterra’s presale continues to fly, with sales of its native $ECOTERRA token having now surpassed $3.5 million as investors swoop in ahead of a 10% token price rise.Ecoterra is building an all-in-one $ECOTERRA-powered web3 ecosystem, designed to encourage recycling via its first-of-its-kind Recycle-to-Earn (R2E) system, facilitate trade in recycled materials and encourage individuals and businesses to offset their carbon footprint.And ecoterra just won an award for its contribution to the sustainable crypto ecosystem at this week’s Istanbul Blockchain summit.Ecoterra was a prominent sponsor of the event, which featured world-famous speakers like Microstrategy CEO Michael Saylor.  With ecoterra’s…

When the Covid-19 public health emergency expires in the United States on Thursday, the coronavirus will not disappear. But many of the data streams that have helped Americans monitor the virus will go dark.The Centers for Disease Control and Prevention will stop tabulating community levels of Covid-19 and will no longer require certain case information from hospitals or testing data from laboratories. And as free testing is curtailed, official case counts, which became less reliable as Americans shifted to at-home testing, may drift even further from reality.But experts who want to keep tabs on the virus will still have one…

A man walks in front of a Peloton store in Manhattan on May 05, 2021 in New York.John Smith | Corbis News | Getty ImagesCheck out the companies making the biggest moves midday:Peloton — The fitness platform operator saw shares drop 8.9% after the U.S. Consumer Product Safety Commission said it’s recalling more than 2 million bikes over concerns about seat breakages and related injuries. Peloton will offer free, updated seat posts to anyone using the recalled model.related investing newsAlphabet — Shares added 4.31% a day after Google unveiled new software and gadgets at its developer conference. The tech giant…

The union representing thousands of striking television and movie writers denied a waiver that Broadway officials had sought that would have allowed the Tony Awards ceremony to proceed with a live televised broadcast on its scheduled date of June 11, two people briefed on the decision said on Friday night.The denial by the union, the Writers Guild of America, described by people who were granted anonymity to disclose confidential discussions, is imperiling one of Broadway’s biggest nights — a key marketing opportunity that is even more crucial in the fragile post-shutdown theater economy. Industry leaders say that without the ability…