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Financial News from The New Yorker

  • Microsoft’s Silicon Valley Envy @ The New Yorker - Sat, Jul 19, 2014 8:00 AM EDT

    If Microsoft were a city, it would contain more residents than Berkeley—at last count, some hundred and twenty-seven thousand. On Thursday morning, Microsoft’s C.E.O., Satya Nadella, sent a letter informing ...

  • Behind Rupert Murdoch’s Urge to Merge @ The New Yorker - Fri, Jul 18, 2014 3:29 PM EDT

    At the Allen & Co. media confab in Sun Valley last week, Rupert Murdoch walked less briskly than he did just a few years ago, his shoulders stooped, his head shorn of all but a stubble of white hair, making ...

  • Who’s Buying J. Crew’s New XXXS Clothes? @ The New Yorker - Thu, Jul 17, 2014 10:00 AM EDT

    At first, the new clothing sizes that J. Crew established in May—000 and XXXS—seem to send an outrageous message to women. Pants in this size fit a twenty-three-inch waist; the average American woman measures ...

  • Punish the Executives, Not Just the Banks @ The New Yorker - Tue, Jul 15, 2014 2:48 PM EDT

    When a company finds itself seven billion dollars poorer, it’s normally a big deal. Yet when the Justice Department announced Monday that Citigroup had agreed to pay seven billion dollars (four billion ...

  • Bill Gates’s Favorite Business Tales, in The New Yorker @ The New Yorker - Fri, Jul 11, 2014 8:05 PM EDT

    In 1969, John Brooks published “Business Adventures,” his collection of New Yorker business stories—“Twelve classic tales from the worlds of Wall Street and the modern American corporation.” Now, forty-five ...

  • Bidding on Bitcoin @ The New Yorker - Fri, Jul 11, 2014 4:11 PM EDT

    Bitcoin traders are sometimes accused of unfairly profiting from an opaque asset beyond the understanding of ordinary people. If that’s the case, then the U.S. government is now one of the biggest offenders. ...

  • The Decline of an American Furniture Maker @ The New Yorker - Fri, Jul 11, 2014 1:50 PM EDT

    Bassett Furniture Corporate Office in Bassett, Virginia, 2012. A line at a food bank in Henry County, Virginia, 2010. Leonard R. Jones—who was affected by the region’s loss of manufacturing jobs—at his ...

  • Cultural Endurance Outside the Movie Theatre @ The New Yorker - Tue, Jul 8, 2014 6:45 PM EDT

    If you wanted to see the indie thriller “Blue Ruin” when it opened in April, you could have visited a theatre in one of the cities where it was playing. Or you could have turned on your computer, TV, or ...

  • The Value of Luxury Poseurs @ The New Yorker - Mon, Jul 7, 2014 11:29 AM EDT

    In the mid-aughts, Burberry faced an unusual problem: too many people were wearing its signature pattern. B-list actors, hooligans—they were all going around in the company’s iconic beige, red, and black ...

  • The Limits of Reading Rainbow @ The New Yorker - Wed, Jul 2, 2014 4:51 PM EDT

    On May 28th, the people behind Reading Rainbow launched a Kickstarter campaign to “Bring Reading Rainbow Back for Every Child, Everywhere.” They gave themselves thirty-five days to raise a million dollars; ...

  • Interactive: New York’s Shadow Transit System @ The New Yorker - Tue, Jul 1, 2014 11:00 AM EDT

    In 1980, when a transit strike halted buses and subway trains throughout New York’s five boroughs, residents in some of the most marooned parts of the city started using their own cars and vans to pick ...

  • Being a Times Square Elmo @ The New Yorker - Tue, Jul 1, 2014 12:59 AM EDT

    Last Saturday, a few blocks north of Times Square, a nineteen-year-old named Virgilia Reyes was wearing a red Elmo costume, with a drawstring bag slung across her back and an Android phone in her hand. ...

  • The Precarious Position of Public Unions @ The New Yorker - Mon, Jun 30, 2014 7:05 PM EDT

    In many states, public employees are required by law to pay union dues—regardless of whether they agree with the union’s advocacy efforts. This arrangement has long been a subject of legal disputes. On ...

  • Dov Charney’s Failed Utopia @ The New Yorker - Thu, Jun 26, 2014 12:47 PM EDT

    Ten years ago, Alberto Chehebar, then the editor of Loft , a Hispanic men’s magazine, struggled to keep up with Dov Charney, the founder of the clothing retailer American Apparel, as he speed-walked the ...

  • Aereo’s Failed Supreme Court Performance @ The New Yorker - Wed, Jun 25, 2014 9:28 PM EDT

    Our preferred start-up narrative is the one about a couple of young, brilliant founders using their technical wizardry and disdain for authority to overturn stodgy industries and make billions. So it was ...

  • An Incomplete Phone-Hacking Verdict @ The New Yorker - Tue, Jun 24, 2014 4:15 PM EDT

    A British jury has declared Rebekah Brooks, the former editor of the News of the World and executive at News Corp., not guilty of criminal charges. She had been charged with participating in the paper’s ...

  • Argentina’s Car Troubles @ The New Yorker - Mon, Jun 23, 2014 3:40 PM EDT

    Rolando Domizi, a Hyundai salesman in Buenos Aires, has lately been spending a lot of time rearranging his showroom and checking on the parking lot in which his cars are stored. Last year, he was selling ...

  • Mining’s New Joint Venture @ The New Yorker - Thu, Jun 19, 2014 3:41 PM EDT

    This isn’t a great time for small Canadian mining businesses. For the past couple of years, people have worried that China’s economic problems will keep it from buying metals and minerals in big quantities, ...

  • Could Argentina Default on Its Debt? @ The New Yorker - Wed, Jun 18, 2014 7:33 PM EDT

    On Monday night, two photos appeared on the home page of La Naci��n , Argentina’s paper of record. One was a shot of Lionel Messi, fresh off his game-winning goal against Bosnia in the opening round of ...

  • Amazon’s Five-Inch Selling Machine @ The New Yorker - Wed, Jun 18, 2014 5:23 PM EDT

    The world’s first call from a handheld cell phone, or at least the first one ever announced, was placed, in 1973, by a Motorola executive named Marty Cooper to a rival at Bell Labs. Standing on Manhattan’s ...

  • Dr. Roboto @ The New Yorker - Tue, Jun 17, 2014 7:13 PM EDT

    In medical school, I watched a robot remove a woman’s uterus. The machine reminded me of a spider, but its arms held scissors, forceps, and a tissue grasper. The surgeon operating the machine made a few ...

  • When Street Art Meets High Finance @ The New Yorker - Mon, Jun 16, 2014 10:02 AM EDT

    Street art at the site of the E.C.B.’s new building in Frankfurt. Photograph by Boris Roessler/AFP/Getty. More art at the Frankfurt site. Photograph by Thomas Lohnes/Getty. Photograph by Thomas Lohnes/Getty. ...

  • Who Shared the Electric Car? @ The New Yorker - Fri, Jun 13, 2014 2:30 PM EDT

    Yesterday, one of the more interesting people in Silicon Valley did one of the more interesting things that the car industry has seen in a while. Elon Musk, the C.E.O. of Tesla, opened up all of his patents ...

  • What Are Father’s Day Ads Selling? @ The New Yorker - Wed, Jun 11, 2014 2:24 PM EDT

    This year, ahead of Father’s Day, Dove has been running an ad for its collection of men’s personal-hygiene products which shows dads performing the various tasks of contemporary fatherhood. There are a ...

  • Citigroup, and an Interest in Knowing the Truth @ The New Yorker - Tue, Jun 10, 2014 10:40 AM EDT

    In October, 2011, the Securities and Exchange Commission filed a complaint in the Southern District of New York against Citigroup. The complaint, which resulted from a multi-year investigation, alleged ...

  • Why Students Aren’t Fighting Forever 21 @ The New Yorker - Fri, Jun 6, 2014 7:23 PM EDT

    Last month, the retailer Forever 21, known for producing trendy, ephemeral clothing for young women, opened a store outside Los Angeles that surprised even some people familiar with the chain’s improbably ...

  • That New-Video-Game Smell @ The New Yorker - Thu, Jun 5, 2014 5:40 PM EDT

    If you want to play Watch Dogs, a new video game, you can do one of two things: drive down to your local GameStop, line up among other eager buyers, share polite small talk with the clerk, fumble through ...

  • A Ukrainian Brain Drain @ The New Yorker - Thu, Jun 5, 2014 9:00 AM EDT

    One morning in March, Dimitri Simerazhko looked up from breakfast to see tanks rolling by his apartment in Sevastapol, on the Crimean peninsula. He turned from the window and Skyped his business partner, ...

  • The Unseen Hand and the Prices of Things: A Conversation with Kate Kelly @ The New Yorker - Wed, Jun 4, 2014 11:00 AM EDT

    In ancient Mesopotamia, farmers promised a share of their future harvest to buyers in exchange for an up-front payment. This kind of agreement is the simplest form of what is known today as a commodity ...

  • An S.O.S. in a Saks Bag @ The New Yorker - Tue, Jun 3, 2014 7:14 PM EDT

    In September, 2012, Stephanie Wilson, a twenty-eight-year-old Australian who lives in West Harlem, bought a pair of Hunter rain boots from Saks Fifth Avenue. She was digging for her receipt in the paper ...

  • Little Boxes of Decision Avoidance @ The New Yorker - Fri, May 30, 2014 3:55 PM EDT

    Life would be easier if everything you needed were sent to you in a box. A few months ago, I subscribed to Quinciple, a service that sends me a box of groceries once a week, which I pick up at a store ...

  • A Dairy Queen Comes to Manhattan @ The New Yorker - Thu, May 29, 2014 11:29 AM EDT

    Growing up in Illinois and Indiana, I went to Dairy Queen after softball games, choir concerts, and debate tournaments. The luckiest kids got Dairy Queen birthday cakes, with their crunchy middle layer ...

  • The Walmart-Free City @ The New Yorker - Wed, May 28, 2014 10:00 AM EDT

    In October, the city council of Portland, Oregon, in between updating the payroll system for the police honor guard and changing the duties of the golf advisory committee, adopted a resolution banning ...

  • Thomas Piketty and the Foreign-Investment Question @ The New Yorker - Tue, May 27, 2014 7:09 PM EDT

    For years, development economists have suggested that, when companies from the developed world invest in poor countries, it helps to mitigate international inequality. Early in his book “Capital in the ...

  • The Rare-Earths Roller Coaster @ The New Yorker - Sat, May 24, 2014 2:02 PM EDT

    Starting in early 2010, a small Canadian company called Elissa Resources spent more than $1.66 million exploring a hilly scrap of desert dotted with cacti, creosote bushes, and Joshua trees, at the southern ...

  • Can You Sell Americans on Canada? @ The New Yorker - Thu, May 22, 2014 3:06 PM EDT

    A television commercial for the Canadian doughnut-and-coffee shop Tim Hortons goes like this: a young Canuck attends the University of Glasgow, in Scotland. Although he likes it there just fine, he begins ...

  • Gentrification and the Urban Garden @ The New Yorker - Wed, May 21, 2014 7:20 PM EDT

    In 2012, Linnette Edwards, a Bay Area real-estate agent, produced a video promoting NOBE , a name conjured up by developers for an area covering parts of Oakland, Berkeley, and the town of Emeryville. ...

  • A New Kind of Free Speech: Drug Reps’ Pitches to Doctors @ The New Yorker - Wed, May 21, 2014 8:28 AM EDT

    Can a pharmaceuticals representative tell a doctor that he should recommend Bupropion, an anti-depression drug, to help patients quit smoking? What about suggesting Zoloft to help with certain sex problems? ...

  • Why Jill Abramson Was Fired: Part Three @ The New Yorker - Sun, May 18, 2014 6:55 PM EDT

    In my last post exploring why Jill Abramson was fired as executive editor of the New York Times by Arthur O. Sulzberger, Jr., the paper’s publisher, I cited excerpts from an April 28th e-mail that the ...

  • Coca-Cola’s Happiness Machines @ The New Yorker - Fri, May 16, 2014 8:55 AM EDT

    “ Hello Happiness ,” a new video from Coca-Cola, opens with footage of migrant laborers in Dubai, standing before dawn in a patch of dirt as they wait for a van to pull up and shuttle them to work. Later, ...

  • The Biggest Filer of Copyright Lawsuits? This Erotica Web Site @ The New Yorker - Thu, May 15, 2014 2:24 PM EDT

    In 2006, Colette Pelissier was selling houses in Southern California, and her boyfriend, Brigham Field, was working as a photographer of nude models. Colette wanted to leave the real-estate business, so ...

  • Why Jill Abramson Was Fired @ The New Yorker - Wed, May 14, 2014 6:34 PM EDT

    This post was updated at 10 P.M. At the annual City University Journalism School dinner, on Monday, Dean Baquet, the managing editor of the New York Times , was seated with Arthur Sulzberger, Jr., the ...

  • The Fashion-Startup Hustle @ The New Yorker - Wed, May 14, 2014 11:01 AM EDT

    Most new fashion companies, like startups in any field , are destined to fail. On Friday, ten young designers, at the invitation of the Council of Fashion Designers of America, pitched their companies ...

  • The Upper, Upper, Upper West Side @ The New Yorker - Tue, May 13, 2014 4:51 PM EDT

    Barrie, Ontario, population a hundred and twenty-eight thousand, is a bedroom community for Toronto. It’s also the location of Upper West Side, a new real-estate development that started construction this ...

  • A School for Brooklyn’s Youngest Hipsters @ The New Yorker - Mon, May 12, 2014 5:15 PM EDT

    On a recent Saturday, a group of kids and their parents crowded into a small hive of practice rooms in a newly converted warehouse on Douglass Street, in Brooklyn. They had come for the grand opening of ...

  • What Does Apple Want with Beats? @ The New Yorker - Fri, May 9, 2014 4:42 PM EDT

    In the nineties, Apple was falling apart. Steve Jobs was gone, and the company seemed distracted. Instead of focussing on computers and operating systems, Apple branched out. It built new printers and ...

  • Vaping for Yuppies @ The New Yorker - Fri, May 9, 2014 9:00 AM EDT

    Stoners used to be associated, sometimes accurately, with a particular image. They hung out in hazy basements in California, wore baggy clothes, spent their days watching dumb movies, and rolled joints ...

  • What Happened to the Harlequin Romance? @ The New Yorker - Thu, May 8, 2014 7:01 PM EDT

    In the eighties and nineties, the model Fabio Lanzoni popularized “the clinch”—the image on Harlequin paperback covers of a muscled man clutching an enraptured woman against his bare pecs. When I was in ...

  • Selling the Myth of the Ideal Mother @ The New Yorker - Thu, May 8, 2014 4:31 PM EDT

    I remember, at age eight or nine, making a batch of brownies. As I waited for the oven timer to buzz, I brushed some flour across my cheek. I was imitating a commercial that I’d recently seen: a mother ...

  • The de Blasio Housing Debate: A Conversation with Vishaan Chakrabarti @ The New Yorker - Wed, May 7, 2014 5:56 PM EDT

    On Monday, the office of New York City Mayor Bill de Blasio released a report titled “Housing New York: A Five-Borough, Ten-Year Plan.” In a letter addressed to his fellow New Yorkers, de Blasio cited ...

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