• News

    Mnuchin: Stimulus checks still on the table following Trump’s order to provide $400 enhanced unemployment benefits

    Our mission to help you navigate the new normal is fueled by subscribers. To enjoy unlimited access to our journalism, subscribe today. On Saturday President Donald Trump signed executive orders and memorandums halt residential evictions, provide $400 weekly enhanced unemployment benefits, defer payroll taxes, and extend student loan relief until the end of the year. This came after unfruitful negotiations between Democratic and Republican leaders on Friday for a broad stimulus bill, which would have included a second round of stimulus checks and enhanced unemployment benefits to help Americans cope with the pandemic. But on Monday Treasury Secretary Steven Mnuchin appeared on CNBC and told viewers that the White House is still…

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  • Finance

    Teslanomics: How to justify being the most valuable car company on earth

    You could practically see Elon Musk smile. On July 1, after an impressive rally of its stock price, Tesla—the 17-year-old electric-car company for which Musk serves as CEO—became the world’s most valuable automaker, worth an eye-watering $209 billion. Barely a month later, it’s worth $279 billion—more than quadruple the combined value of American icons General Motors and Ford Motor, even though the California company sold just 4{4bae5313c1ffa697ce99995897f7847f1ebf3bca0fb7c37396bb602eb24323d3} of the vehicles the Detroit duo did last year. How substantial must Tesla’s actual sales be to meet its investors’ outsize expectations? We asked Joe Osha, a JMP Securities analyst who specializes in energy and industrial tech—and a frequent Tesla bull—to show his…

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  • Leadership

    The hidden—but very real—cost of working from home

    In a time of social distancing and remote work, Goldman Sachs CEO David Solomon raised a surprising topic during his latest earnings call with Wall Street analysts: togetherness. “Our firm has always had a team-oriented apprenticeship culture, and we benefit from being and working together,” he explained. While many CEOs seem in no hurry to refill their office buildings, and several have told employees they need never return to the office, Solomon made it clear that he wants his colleagues back in the office as soon as is safely possible. He himself has never stopped going to the office through the pandemic. Solomon’s desire to bring his employees back together…

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