Elon talks crypto and Disney struggles against Netflix.
Elon Musk says Tesla won’t use or accept bitcoin until he can be sure it’s produced sustainably. He may be waiting some time. Musk’s announcement prompted speculation among some experts about whether he had a plan to wean the crypto industry off the fossil fuels that power “mining,” the energy-intensive process that creates coins.
Japan aims to raise average minimum wages to 1,000 yen ($9) an hour as soon as possible, Prime Minister Yoshihide Suga said on Friday. The move will likely to provoke stiff opposition from small and mid-size firms that are struggling during the COVID-19 pandemic. But is expected to boost the economy in the long run.
Gold rose on Friday, as the dollar pulled back from one-week highs. The rally interrupted a three-day rout for stocks globally, as market jitters over accelerating U.S. inflation were calmed by Federal Reserve officials reiterating that price pressures from the reopening of the economy would prove transitory.
Germany’s seven-day rate of COVID-19 cases fell below a key threshold for the first time in nearly two months on Friday, paving the way for virus restrictions to be lifted if infections continue to fall.
The disappointing growth of Walt Disney Co’s namesake streaming service on Thursday overshadowed better-than-expected overall profits, driving down shares of the entertainment company.
|Alibaba affiliate Ant Group became China’s largest seller of non-money-market mutual funds in the first quarter, industry data showed, disrupting a market dominated by banks despite a regulatory crackdown.|
Johnson & Johnson
|After warnings from federal officials that there will be few new doses of the vaccine available until the U.S. Food and Drug Administration clears a troubled manufacturing plant operated by a Johnson & Johnson subcontractor, Emergent BioSolutions. The US federal government’s Covid-19 vaccine allocations to states next week will not include any doses of the Johnson & Johnson Covid-19 vaccine.|
|Sales suffered during the coronavirus as stores closed and consumers stayed in their homes to avoid getting sick. But recent results show the coffee giant is on the mend.|