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Despite a labor shortage brought about largely by the COVID-19 pandemic, companies can find workers by offering “fair wages,” Brian Deese, the top economic adviser to President Joe Biden, told Yahoo Finance on Monday. Deese, the Director of the National Economic Council, pointed to coronavirus fears and child care obligations amid remote schooling as key reasons why unemployed Americans have stayed on the sidelines. However, employers can overcome these obstacles by providing fair… Source link

The hotel industry is unlikely to fully recover from the COVID-19 pandemic-caused labor shortage anytime soon as it battles with retailers, restaurants and others for workers, while also dealing with a bumpy demand recovery.  About 500,000 direct hotel operations jobs lost during the pandemic in the U.S. will not have returned by the end of the year, according to a new study from the American Hotel & Lodging Association (AHLA). The U.S. hotel industry is expected to directly employ 1.86… Source link

Self-driving features have been creeping into automobiles for years, and Tesla (TSLA) even calls its autonomous system “full self-driving.” That’s hype, not reality: There’s still no car on the market that can drive itself under all conditions with no human input. But researchers are getting close, and automotive supplier Mobileye just announced it’s deploying a fleet of self-driving prototypes in New York City, to test its technology against hostile drivers, unrepentant jaywalkers,… Source link

(Bloomberg) — The 2021 Bitcoin bubble is deflating and hitting a $1.3 trillion industry built on to-the-moon speculation and rampant leverage. The damage from the latest selloff is spreading across the world of crypto loans, options and futures — wiping out money-spinning strategies from the famous basis trade to yield farming. Even with Wednesday’s rebound, Bitcoin at around $31,700 is still trading near the lower end of its range over the past two months, and down about 50% from the April… Source link

  Prince Harry and Meghan Markle are once again expanding their business and media empire — over one year after exiting the royal family. Riding the momentum from the couple’s blockbuster televised interview, Prince Harry confirmed that he’ll be publishing a memoir with Penguin Random House, set for a 2022 release date.  This week, Page Six reported that Harry is set to make at least $20 million upfront from the deal, although the royal said on Monday that he would be donating all proceeds… Source link

When President Biden and 10 bipartisan senators reached an infrastructure agreement in June, increased IRS enforcement was a key for how to pay for it. The idea, which has long been pushed by policymakers on both sides of the aisle, was to staff up the IRS now with the promise that the investment would be paid back in spades as more tax cheats were caught. But a wave of Republican pushback led to the idea getting nixed. The lead Republican negotiating the deal, Sen. Rob Portman of Ohio, Source link

As the highly transmissible Delta variant spreads nationwide, the Centers for Disease Control and Prevention (CDC) and the State Department urged Americans to avoid traveling to the UK. But that’s not going far enough, U.S., Dr. Ebony Jade Hilton, GoodStock Consulting co-founder and medical director, told Yahoo Finance Live. In fact, Americans should be careful traveling to certain areas within the U.S. “If we’re going to talk about traveling to the U.K., then we should also caution… Source link

Tension between President Joe Biden and tech giant Facebook (FB) stands at a fever pitch, even after Biden on Monday walked back earlier remarks accusing social media platforms of facilitating the spread of vaccine misinformation and contributing to U.S. deaths from COVID-19, New York Times technology reporter Cecilia Kang told Yahoo Finance on Monday. “It felt like he was actually retreating a little bit — but the frustration and tension right now between the White House and Facebook still… Source link

(Bloomberg) — Moderna Inc. joins the S&P 500 on Wednesday as the index’s the best performing stock this year — by a mile. The move caps the drugmaker’s transformation from an early-stage biotech to a vaccine maker supplying Covid shots to the world. With a gain of more than 180% so far in 2021, Moderna’s share performance tops the index’s existing leader, L Brands Inc., which has risen about 100%. In the runup to its inclusion in the U.S. benchmark, Moderna’s stock has made fresh… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Wednesday, July 21, 2021 Growth, value, and rates — all in one place It was a Turnaround Tuesday on Wall Street yesterday.  After a brutal sell-off to start the week, each of the major averages gained nearly 2% on the week’s second trading day. A solid rebound after a decline in markets on Monday that perhaps felt worse than it really was.  But… Source link