Why Coinbase’s IPO Is a Cryptocurrency Coming-Out Party

Desy Papper

SAN FRANCISCO — Digital currency, once mocked as a tool for criminals and reckless speculators, is sliding into the mainstream.

Traditional banks are helping investors put their money into cryptocurrency funds. Companies like Tesla and Square are hoarding Bitcoin. And celebrities are leading the way in a digital-art spending spree using a technology called an NFT.

On Wednesday, digital or cryptocurrencies will take their biggest step yet toward wider acceptance when Coinbase, a start-up that allows people to buy and sell cryptocurrencies, goes public on Nasdaq. Coinbase shares received a reference price of $250 each on Tuesday evening, which would

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Fed Leaders Agree: Economics Has a Racial-Disparity Problem | Business News

Desy Papper

By CHRISTOPHER RUGABER, AP Economics Writer

WASHINGTON (AP) — Top Federal Reserve policymakers on Tuesday underscored their concern that Black and Hispanic people are sharply underrepresented in the economics field, which lessens the perspectives that economists can bring to key policy issues.

“If we don’t have a diverse group of people in the field, we won’t have the right topics to focus on,” said Eric Rosengren, president of the Federal Reserve Bank of Boston.

At a webinar sponsored by the 12 regional Fed banks, the officials and many outside economists addressed the problem on the same day that a study

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LIZ WESTON: 9 money numbers you need to know [Column] | Business

Desy Papper

Your doctor needs to know certain numbers to judge your physical health, such as your weight, your blood pressure and your cholesterol levels.

Similarly, you need to know certain numbers to monitor your own financial health, including:

AFTER-TAX INCOME AND ‘MUST-HAVE’ EXPENSES

Your after-tax income is your gross income minus the taxes you pay (federal, state and local income taxes, plus Social Security and Medicare taxes). If you get a steady paycheck, you can use your latest pay stub to calculate this figure. Otherwise, check your most recent tax return.

Divide your after-tax income by the number of hours you

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The Retail Workforce of the Future | BoF Professional, News & Analysis

Desy Papper

Nicolina Venezia, 30, has experienced the full spectrum of the retail industry’s recent difficulties.

As a sales associate at Barneys, she barely made ends meet while selling luxury fashion, sometimes relying on babysitting gigs to make rent. After the department store shut down in February 2020, she found work at a Mark Cross boutique on Madison Avenue. She was there for barely a week when New York went into lockdown. The store closed, and Venezia was out of work for the second time in a month.

Today, Venezia works in a pop-up jewellery boutique in Lower Manhattan. But she said

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Tesco counts cost of Covid trading as profits drop

Desy Papper

Bloomberg

TikTok Founder’s $60 Billion Fortune Places Him Among The World’s Richest People

(Bloomberg) — Just last year, the world’s most valuable startup, ByteDance Ltd., was being squeezed from all sides.The Trump administration wanted the Chinese firm, which owns the ubiquitous TikTok video-sharing platform, to get rid of assets. Beijing was cracking down on tech businesses, and India blacklisted some of its social-media apps.For all the obstacles, ByteDance kept growing. Now its founder, 38-year-old Zhang Yiming, is among the world’s richest people — a distinction that lately has carried increased risks in China.Shares of the company trade in the private

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