DAILY DOSE: March 2, 2021
Posted on 03/02/2021
1. Beaverton, Oregon-based company Nike Inc. terminated an employee. Ann Hebert, Nike’s vice president and general manager of North America, exited the company after Bloomberg Businessweek broke a story on her son. Her son (known as West Coast Joe) was running a business that was reselling sneakers and using a credit card in his mom’s name.
2. JPMorgan CEO Jamie Dimon sees interest rates going up. Dimon said he would not buy 10-year Treasuries.
3. Amazon.com, Inc. is being sued for alleged race and gender discrimination in Washington, D.C.
4. The Biden administration says the U.S. reserves the right to sanction the Saudi Crown Prince in the future if necessary. The Crown Price is the overseer of Saudi Arabia’s Public Investment Fund (PIF). The Biden administration is eyeing more sanctions on Russia.
5. The European Union is planning digital vaccine passports to boost travel in Europe.
6. Approximately 735 cases of a coronavirus variant (B.1.526) that erupted in New York City in November 2020 have now been identified in the U.S.
7. German joblessness increased for the first time in eight months, which is linked to the protracted coronavirus lockdowns. Germany’s Federal Labor Agency totaled unemployed people at 2.75 million and the rate at 6%.
8. On March 1, 2020, the largest and oldest electric power cooperative in Texas filed for bankruptcy protection in Houston. Brazos Electric Power Cooperative Inc is citing a disputed US$ 1.8 billion debt to the state’s grid operator (ERCOT). Impacted by the Feb. cold snap, Brazos Electric Power Cooperative supplies electricity to more than 660,000 consumers across Texas.
9. Emeryville, California-based MobiTV, Inc., a streaming TV platform, filed for Chapter 11 bankruptcy protection. The company has received a US$ 15.5 million debtor-in-possession financing facility to support operations during the restructuring.