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Monday 11.29.21

Black Friday Spending Decreases for the First Time

Consumerism: It’s so last year. 2021 marks the first year that Americans spent less money on Black Friday than the previous year. That said, we still dished out 8.9 *billion* dollars.

Monday 11.29.21

Black Friday Spending Decreases for the First Time

Consumerism: It’s so last year. 2021 marks the first year that Americans spent less money on Black Friday than the previous year. That said, we still dished out 8.9 *billion* dollars.

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In a ruling that could have major implications for similar cases, a federal jury found that CVS, Walmart, and Walgreens substantially contributed to the opioid crisis in two Ohio counties. The companies could soon be on the hook for billions of dollars.

Trouble For Big Pharma(cies)

Latest news

Hillary Clinton calls for regulation of cryptocurrency because it has the potential to "destabilize" nations.

Uber is partnering with a cannabis retailer to offer weed for takeout in Canada. Customers in Ontario can now place an order for pick up from any nearby Tokyo Smoke store on the Uber Eats app.

Uber Eats Partners With Cannabis Retailer in Canada

The former golden girl of Silicon Valley now taking the stand in federal court. After months of listening as the U.S. government mounted a case against her, Theranos founder Elizabeth Holmes unexpectedly testified in her own criminal trial. Holmes faces 11 counts of wire fraud and conspiracy to commit wire fraud. Wire fraud is a felony that carries a maximum penalty of 20 years and potential fines.

Elizabeth Holmes Testifies in Theranos Criminal Trial

A big change is coming to Amazon. The e-commerce giant has announced it will stop accepting Visa credit cards issued in the U.K. due to high transaction fees. Merchants have long complained about the fees that eat into their revenue. Now, they have one of the biggest and most influential companies on their side.

Amazon Will Stop Accepting U.K.-Issued Visa Cards

Third time’s the charm? After one month and three union votes, 10,000 John Deere employees are returning to work with a new contract that will deliver 10% raises immediately.

Strike Over: John Deere Workers OK Contract

Latest news

At a General Motors plant in MI, President Biden calls for higher taxes on corporations & calls out GM CEO Mary Barra.

Love it or hate it, the Staples Center will soon be the Crypto.com Arena. But no matter what it’s called, it will always be the house that Kobe built.

LA’s Iconic Staples Center Is Getting Renamed

Pfizer will allow its COVID pill to be made and sold inexpensively in 95 poorer nations. This royalty-free licensing deal, in tandem with Merck's similar arrangement, could dramatically alter the course of the pandemic.

Pfizer Will Allow Developing Nations to Make Its COVID Pill

Amazon warehouse workers in Bessemer, Alabama, may get a second chance at unionizing. Why? A federal labor official believes Amazon’s anti-union campaign tainted the initial vote enough to warrant a do-over.

Second Chances: Amazon Workers May Re-Vote on Unionizing

Health care conglomerate J&J has announced plans to split into two publicly traded companies — separating its consumer products business from its pharmaceutical and medical device operations. It’s the biggest shake-up in the company’s 135-year history.

Johnson & Johnson to Split Into 2 Public Companies

American Airlines pilots are rejecting an offer from the company to boost holiday pay. The airline was offering pay increases in an attempt to avoid staffing problems around the holiday season. Instead, the pilots union decided it’s more important to focus on ongoing contract negotiations.

American Airlines Pilots Say “No Thanks” to Holiday Wage Increases

In a 5-1 decision, the Oklahoma Supreme Court threw out a 2019 ruling that required Johnson & Johnson to pay the state $465 million for its role in the opioid epidemic.

Oklahoma Supreme Court Tosses Opioid Ruling Against J&J

Alphabet just became the third U.S. company to surpass $2 trillion in market value. The parent company of Google and YouTube doubled its value during the pandemic alone due to the migration of companies to digital operations.

Wall Street’s Hottest Club Is … The $2T Market Cap Club

The Atlantic’s Amanda Mull joins Reena Ninan on The Recount Daily Pod. They dive into the international supply chain crisis, its connection to inflation, and what - if anything - the Biden administration can do about it.

What’s Really Behind the Supply Chain Issues?

The 5th Circuit stays 5th circuiting: Three notoriously conservative judges temporarily blocked Biden’s vaccine-or-testing mandate for private businesses, just one day after it officially went into effect.

Federal Judges Temporarily Halt Biden’s COVID Mandate

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Catch up on the most important stories of the day with The Recount Daily Newsletter. Each day we bring you a round-up of what's happening in the corridors of power right now, without wasting your time or insulting your intelligence.

Latest news

U.S. Surgeon General Dr. Vivek Murthy on vaccine mandates: “What’s really hurting the economy is actually COVID itself."

There’s a new pill in town — and it could cut the risk of hospitalization or death for at-risk people by 89%. Meet Pfizer’s new antiviral COVID treatment.

Meet Pfizer's New Antiviral COVID Pill

Peloton plummeted in market value after the at-home fitness equipment maker slashed its annual sales forecast by as much as $1 billion. Peloton said demand for its products was slowing faster than expected as people return to their pre-pandemic habits.

Peloton Shares Free Fall as Momentum for Its Products Slows

Latest news

President Biden on the October jobs report showing 531,000 jobs created: “Our economy is on the move.”

Ford just became the first major American automaker to mandate vaccines for U.S. employees. This order will affect roughly 32,000 workers — but will not extend to the roughly 57,000 Ford workers represented by the United Auto Workers union.

Ford to Employees: Get Vaxxed or Get Out

Latest news

Mine workers union Alabama chapter president Brian Kelly speaks on strike against hedge funds over working conditions.

“Try again,” says John Deere employees. After the United Auto Workers union reached a tentative agreement with the company over the weekend, 55% of members just voted “no deal” on the contract.

John Deere Strike Wages On

Let Big Tech’s big retreat from China commence. Yahoo just became the second well-known U.S. tech firm to downsize operations in the country in less than a month.

Big Tech’s Retreat From China

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