As the coronavirus pandemic devastated small businesses and plunged millions of Americans into poverty this summer and fall, executives at some of the country’s largest corporations sounded surprisingly upbeat.“I don’t think we’ve ever been more excited or energized about our prospects,” PayPal finance chief John Rainey said on a November conference call.“These are times when the strong can get stronger,” Nike chief John Donahoe told analysts in September.“With all that’s happening around the world, it’s really unfortunate,” said Jensen Huang, chief executive of graphics chip maker Nvidia,...…As the coronavirus pandemic devastated small businesses and plunged millions of Americans into poverty this summer and fall, executives at some of the country’s largest corporations sounded surprisingly upbeat.“I don’t think we’ve ever been more excited or energized about our prospects,” PayPal finance chief John Rainey said on a November conference call.“These are times when the strong can get stronger,” Nike chief John Donahoe told analysts in September.“With all that’s happening around the world, it’s really unfortunate,” said Jensen Huang, chief executive of graphics chip maker Nvidia,...WW…

This article was published more than 2 years agoCommentGift ShareTop investors in SolarWinds, the Texas-based company whose software was breached in a major Russian cyberattack, sold millions of dollars in stock in the days before the intrusion was revealed.The timing of the trades raises questions about whether the investors used inside information to avoid major losses related to the attack. SolarWinds’s share price has plunged roughly 22 percent since the company disclosed its role in the breach Sunday night.On Dec. 8, the cybersecurity firm FireEye that hackers had broken into its...…This article was published more than 2 years agoCommentGift ShareTop investors in SolarWinds, the Texas-based company whose software was breached in a major Russian cyberattack, sold millions of dollars in stock in the days before the intrusion was revealed.The timing of the trades raises questions about whether the investors used inside information to avoid major losses related to the attack. SolarWinds’s share price has plunged roughly 22 percent since the company disclosed its role in the breach Sunday night.On Dec. 8, the cybersecurity firm FireEye that hackers had broken into its...WW…

This article was published more than 2 years agoCommentGift ShareUnited Airlines said on Sunday it is grounding 24 of its Boeing 777 aircraft after the Federal Aviation Administration indicated it would mandate inspections and “likely” remove some of the jets from service.The measures come one day after the engine of a Boeing 777-200 failed shortly after takeoff from Denver International Airport, scattering pieces of debris across a half-mile residential area outside the city. The plane was forced to land, and no injuries were reported on the ground or among the flight’s 231 passengers...…This article was published more than 2 years agoCommentGift ShareUnited Airlines said on Sunday it is grounding 24 of its Boeing 777 aircraft after the Federal Aviation Administration indicated it would mandate inspections and “likely” remove some of the jets from service.The measures come one day after the engine of a Boeing 777-200 failed shortly after takeoff from Denver International Airport, scattering pieces of debris across a half-mile residential area outside the city. The plane was forced to land, and no injuries were reported on the ground or among the flight’s 231 passengers...WW…

This article was published more than 2 years agoCommentGift ShareLast month’s GameStop trading mania was sparked by members of a popular Reddit investing community who said they hoped to strike back at the Wall Street elites who had long dismissed them as dumb money. But growing evidence casts doubt on the idea that the episode mostly benefited small-time investors.Giant mutual funds that own the largest stakes in GameStop saw the biggest gains in value. Hedge funds — some that have started using algorithms to track retail investors on social media sites — appear to have bought and...…This article was published more than 2 years agoCommentGift ShareLast month’s GameStop trading mania was sparked by members of a popular Reddit investing community who said they hoped to strike back at the Wall Street elites who had long dismissed them as dumb money. But growing evidence casts doubt on the idea that the episode mostly benefited small-time investors.Giant mutual funds that own the largest stakes in GameStop saw the biggest gains in value. Hedge funds — some that have started using algorithms to track retail investors on social media sites — appear to have bought and...WW…

This article was published more than 2 years agoCommentGift ShareThe 147 Republican lawmakers who opposed certification of the presidential election earlier this month have lost the support of many of their largest corporate backers — but not all of them.The Washington Post contacted the 30 companies that gave the most money to election-objecting lawmakers’ campaigns through political action committees. Two-thirds, or 20 of the firms, said they have pledged to suspend some or all payments to their PACs.Meanwhile, 10 companies said only that they would review their political giving or...…This article was published more than 2 years agoCommentGift ShareThe 147 Republican lawmakers who opposed certification of the presidential election earlier this month have lost the support of many of their largest corporate backers — but not all of them.The Washington Post contacted the 30 companies that gave the most money to election-objecting lawmakers’ campaigns through political action committees. Two-thirds, or 20 of the firms, said they have pledged to suspend some or all payments to their PACs.Meanwhile, 10 companies said only that they would review their political giving or...WW…

California Gov. Gavin Newsom has accused his state's largest utility company of mismanaging funds he said it should have used to upgrade an aging electrical grid prone to deadly wildfires.But over the past two decades, Newsom, a Democrat, and his wife have accepted more than $700,000 from the Pacific Gas & Electric Co., its foundation and its employees as the utility has supported his political campaigns, his ballot initiatives, his inauguration festivities and his wife's foundation, including her film projects, according to records reviewed by The Washington Post.The contributions...…California Gov. Gavin Newsom has accused his state's largest utility company of mismanaging funds he said it should have used to upgrade an aging electrical grid prone to deadly wildfires.But over the past two decades, Newsom, a Democrat, and his wife have accepted more than $700,000 from the Pacific Gas & Electric Co., its foundation and its employees as the utility has supported his political campaigns, his ballot initiatives, his inauguration festivities and his wife's foundation, including her film projects, according to records reviewed by The Washington Post.The contributions...WW…