Bloomberg Businessweek - USA (2021-03-01)

DI^ MODICA:

QILAI

SHEN/BLOOMBERG.

CAR:

COURTESY

LUCID

MOTORS.

WOOD:

ALEX

FLYNN/BLOOMBERG.

PORTNOY:

SLAVEN

VLASIC/GETTY

IMAGES.

COPPER: GETTY IMAGES

6

 IN BRIEF

○ Facebook

restored news

feeds on its site in

Australia a week

after switching

off the pages.

○ Global coronavirus

cases passed

112m

and 2.5 million have died.

The U.S. reached the grim

milestone of 500,

Covid-19 victims on Feb. 22,

though hospitalizations

and deaths have fallen

since their January peak as

the vaccination campaign

picks up speed.

○ Donald Trump

cannot keep his

tax records out

of prosecutors’

hands.

○ California

electric-car maker

Lucid Motors

plans to go public

by merging with

a blank-check

company.

○ Brazilian President

Jair Bolsonaro replaced

the head of state-

controlled oil company

Petrobras on Feb.  

after a feud over high fuel

prices, which are hurting

some of his most loyal

followers.  25

○ Copper topped

$9k

per metric ton,

nearing the record

price of $10,

set in 2011.

○ “You know

everybody

watching this

hates your

guts, right?”

Dave Portnoy of Barstool Sports (pictured) to

Robinhood CEO Vlad Tenev during a livestreamed

interview. “That’s what I hear,” Tenev replied.

Bloomberg Businessweek By Benedikt Kammel

○ Arturo di Modica, sculptor of The Charging Bull, died at 80. He installed the

3.5-ton bronze statue illegally at the New York Stock Exchange in 1989. Public

support persuaded the city to keep it, in nearby Bowling Green Park.

The Supreme Court on Feb. 

rejected the former president’s final

bid to block a subpoena by Manhattan

District Attorney Cyrus Vance Jr.,

who’s investigating financial crimes he

may have committed.

The tech giant reached a compromise

with the Australian government over a

law proposing that it and Google pay

local publishers for their content.

○ Hong Kong

unveiled its first

stamp-duty

increase on stock

trades since 1993.

The surprise move on Feb. 24 raised

transaction costs for the exchange,

sparking a broad selloff in the

$7.6 trillion market.

○ Investors pulled a record

amount of cash

from the main

exchange-

traded funds

run by Cathie Wood,

withdrawing $465 million

from her flagship Ark

Innovation ETF on Feb. 

alone. The outflows

came after some of Ark

Investment Management’s

most high-profile bets,

including Tesla and Bitcoin,

foundered earlier in

Lucid says it will start deliveries of the week.

its first electric sedan, the $169,

Air EV, in the second half, several

months later than previously planned.

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