Not that far removed from a gangbusters pandemic performance by his company driven by exercise-crazed consumer panic-buying its bikes and treadmills, Peloton founder John Foley has stepped down as company CEO and announced plans to restructure. After a dismal Q4, the internet-connected stationary bike maker will lay off roughly 20% of its workforce in the process - NYTimes and WSJ and Bloomberg and MarketWatch
Those of us tracking the wild world of crypto couldn’t have been all that surprised to hear the news yesterday that the DOJ seized some $3.6 billion “worth of stolen Bitcoin and arrested a married couple accused of laundering the cryptocurrency that hackers had stolen six years ago.” Yes, the number’s outrageous, but with crypto, nearly everything is, no? - NYTimes and WSJ and Bloomberg and MarketWatch and Law360
The Times on the growing thought that 2022 could be a “critical year for electric cars” and mark a long-awaited turning point in general acceptance in the States - NYTimes
Starbucks has reportedly fired a spate of Memphis, TN workers heading up unionization efforts there. The company cited a violation of “company safety and security policies” for the terminations, though the workers said management was merely retaliating for their organizing - NYTimes
China “fell far short” of the promises it made as part of a last-administration-structured 2020 trade deal with the United States. Data released this week shows that China did not meet designated goals for purchases of “American airplanes, soybeans, energy, services and other products before the end of last year,” to the tune of a more-than 40% shortfall - NYTimes
Meanwhile, the U.S. trade deficit hit new heights in 2021, as a strong American economy translated into a “continued hefty dependence on imports from China and other countries” - WSJ
Yes, Gen Zers, birds not only exist, but given the chance, they might just entertain - NYTimes
Stay safe, and get boosted,
MDR
The Robins Kaplan Financial Daily Dose features top stories and latest news headlines in financial markets, banking, securities and technology topics.
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