In the hills of Emilia-Romagna, a bank vault holds more than half a million wheels of Parmigiano Reggiano, worth well over 300 million euros. The vault belongs to the bank Credito Emiliano, known colloquially as Credem, which has long accepted young wheels of Parmigiano Reggiano as collateral for loans to local dairy farms since 1953.
SpaceX stock rose on Monday to reclaim an important milestone: its $135 IPO price. The stock jumped back above that threshold on Monday, rising to close 4% higher at $138.74 after struggling to mount a decisive gain early in the session. Shares are up more than 25% in August, and a 15% rally on Friday
For nearly 50 years, one number barely moved. Every year or two, the General Social Survey asks Americans how happy they are, and for decades the balance between “very happy” and “not too happy” held steady, from 1972 through 2018. But as soon as the pandemic hit, it came cratering down. Sam Peltzman, an economist
Investors are hunting for social media startups that can spark new connections and nurture existing ones. “Social media companies started based on connection,” Shawn Carolan, a partner at Menlo Ventures, said of the previous wave of giants like Facebook and Instagram. Carolan said these companies “evolved into media companies” and abandoned that connection. That leaves
“A worker can oppose capitalism while still being forced to sell labor and buy necessities,” the reader wrote to me, “just as a prisoner can oppose incarceration while remaining confined.” Buying a secondhand jacket or a $5 treat—or waiting on a long line in a bout of “democratized snobbery” or “conspicuous waiting”—doesn’t abolish wages, rent,
Returns on AI capex have been a looming question for Wall Street investors, but JPMorgan says that elusive AI monetization is a big reason it’s boosting its S&P 500 price target for the year. The bank’s strategists hiked their target for the benchmark index on Monday, as they eye an “increasingly visible” payoff from the
