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Melania Trump announces NFT venture
Former First Lady Melania Trump launched a venture this week to sell non-fungible tokens that must be paid for with the soln cryptocurrency, currently valued at around $180 each. Trump said she would issue NFTs on her website at regular intervals, with a portion of the proceeds going to raising children. The press release announcing the venture did not say what percentage of revenue or public relations would be donated. Aaron Dorfman, president and CEO of the National Committee for Responsible Philanthropy, said when a company fails to disclose how much they are donating to a product or enterprise, it’s a huge red flag.
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For fear of an Omicron variant, holiday revelers put a halt to the celebrations
Christmas celebrations have fallen short across Europe, and US officials are intensifying calls for unvaccinated Americans to get vaccinated in front of the new Omicron edition, which threatens to wipe out a second holiday season, leaving many people dead. There was hope that the pandemic-battered industries would get bail. Scotland and Wales on Friday pledged millions of pounds to businesses hurt in Britain’s latest infection surge, a move that has pressured Prime Minister Boris Johnson’s government to do the same in England. In the United States, President Joe Biden’s administration opposed any tightening of sanctions, but also sketched dire scenarios for the uninformed in a plea for reluctant Americans to get the shot. For the uninitiated, you are looking at a winter of serious illness and death for yourself, your families and hospitals, White House coronavirus response coordinator Jeff Gents said Friday.
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Union Objections to the Results of Two Starbucks Federalization Votes
A union competing to represent Starbucks employees is objecting to the election results of Buffalo-area stores. The union says the coffee retailer launched a shock and awe-inspiring campaign to unionize workers to stop them from voting. This claim has been made in the objections filed with the National Labor Relations Board late Thursday night. Starbucks has denied the allegations. Buffalo Starbucks employees voted in favor of a union last week, becoming the first in the US to do so. But Workers United says the company’s intimidation strategy affected other stores where votes either failed or were not immediately scheduled. NLRB will decide whether to schedule fresh elections or not.
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New England shrimp fishery will remain closed as water warms
New England’s commercial lobster farming will remain closed due to concerns about the health of the crustacean population amid warmer ocean temperatures. Cold-water shrimp were once a winter delicacy in Maine and beyond, but the fishing industry has taken off since 2013. A board of regulator Atlantic States Marine Fisheries Commission voted on Friday to keep the fisheries closed for at least three more. years. Shrimp prefer cooler waters, and the warming of the ocean off New England worsens the health of their population. The Gulf of Maine, in particular, is warming faster than most of the world’s oceans.
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‘Spider-Man: No Way Home’ garners $50M in preview
For the first time since the pandemic began, the box office has hit the screens. Spider-Man: No Way Home earned $50 million in previews on Thursday alone, a stellar debut for a film that broke the pandemic’s record. Sony Pictures No Way Home scored the third highest preview ever, behind only those for Avengers: Endgame and The Force Awakens. Previews once only showed late night screenings, but they have steadily progressed from earlier in the day. No Way Home began play around 3 p.m. at 3,767 venues. But the eye-popping total for the Marvel release was no exaggeration. No Way Home is on pace to be the first release of the pandemic to cross $100 million. It could go up to $150 million.
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McDonald’s to pay $33.5M to black store owner to end bias lawsuit
McDonald’s will pay $33.5 million to a former baseball player who owns several franchises to end a lawsuit brought against the company alleging racial discrimination. Herb Washington, which owned more than a dozen restaurants in Black, Ohio and Pennsylvania when it filed a lawsuit in February, said the company treated white owners more favorably and helped them to live in more affluent communities. Denied the opportunity to buy in-store. Cleveland.com reports McDonald’s said in a statement Thursday that the amount it was paying to Washington did not exceed the fair value of the franchises it owned.
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Regulator: Threat to US financial system remains high
The nation’s top financial regulators told Congress on Friday that threats to financial stability remain high, even as the country recovers from the worst economic shock from the COVID pandemic. In its annual report on threats to the financial system, the Financial Stability Oversight Council listed climate change as an emerging risk due to factors such as potential credit loss from floods and wildfires. This was the first time climate change was highlighted as a risk to the financial system in the councils’ annual reports. This year’s report was the first released by the Biden administration, which has made fighting climate change a top priority, including referencing the Trump administration’s decision to pull the United States out of the Paris climate accord.
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Sears to sell its suburban Chicago corporate headquarters
Sears plans to sell the sprawling suburban Chicago corporate headquarters that has been home to struggling retailers for three decades. Sears’ parent company, TransformCo, confirmed this week that it plans to market the 273-acre corporate headquarters in the northwestern suburb of Hoffman Estates by early 2022. Transformco has been downsizing Sears operations and corporate staff for several years. Sears was once the nation’s largest retailer, but it has struggled in recent years, seeking Chapter 11 bankruptcy protection in 2018 with billions of dollars in debt. Transformco bought the retailer and 425 stores in the 2019 bankruptcy auction.
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The S&P 500 fell 48.03 points, or 1%, to 4,620.64. The Dow Jones Industrial Average fell 532.20 points, or 1.5%, to 35,365.44 on the Nasdaq, down 10.75 points, or 0.1%, at 15,169.68. The Russell 2000 Index of Small Companies rose 21.48 points, or 1%, to 2,173.93.
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