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Asians are more likely to have public-facing businesses in the US than any other racial group

Asians are more likely to have public-facing businesses in the US than any other racial group

On March 16, eight people were massacred at three different spas in the Atlanta area, six of them older Asian women [https://www.washingtonpost.com/nation/2021/03/18/atlanta-shooting-live-updates/] . The murders highlighted a significant rise in anti-Asian violence and hate crimes [https://www.buzzfeednews.com/article/juliareinstein/anti-asian-racist-hate-incidents] in the US during the pandemic, as well as the large number of vulnerable [https://www.nytimes.com/2021/02/25/business/covid-asian-

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Kanye West’s fortune could sink or soar with his Gap partnership

Kanye West’s fortune could sink or soar with his Gap partnership

Kanye West rose to fame as a rapper, but it’s his sneaker and clothing brand, Yeezy, that makes up the bulk of his wealth today. Investment bank UBS has valued the brand between $3.2 billion and $4.7 billion, according to a report from Bloomberg [https://www.bloomberg.com/news/articles/2021-03-17/kanye-west-and-gap-have-billion-dollar-ambitions-for-yeezy-deal] , which viewed a private UBS document with the figures. West’s cash and other assets additionally totaled nearly $2 billion, Bloomberg sa

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India contributed to nearly 60% of the global rise in poverty in 2020

India contributed to nearly 60% of the global rise in poverty in 2020

A global economic slowdown has shrunk the world’s middle-class population and impoverished millions. In 2020, an estimated 131 million people were pushed into poverty and low-income groups, according to new research by Pew Research Center, a US think tank based in Washington. A majority of upper middle- and middle-income people (earning between $10 and $50 a day) became low-income (daily wage of $2-$10) and poor (earning less than $2 a day). A large driver of this rising poverty appears to be

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9 of the 10 happiest countries in the world are in Europe
News

9 of the 10 happiest countries in the world are in Europe

An annual study of happiness around the world found that positive emotions and overall levels of satisfaction with life remained surprisingly stable across the globe, despite the Covid-19 pandemic. Researchers suggest it bodes well for humanity’s resilience. And yet happiness levels are higher on some continents than others. European nations once again dominated the list of the happiest places to be in the World Happiness Report [https://worldhappiness.report/], with Finland toping the list fo

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Saudi Aramco has lost the title of world’s most profitable company
News

Saudi Aramco has lost the title of world’s most profitable company

Saudi Aramco, the world’s largest oil exporter, is no longer the world’s most profitable company. After a pandemic year that slashed fossil fuel prices—and drove up demand for consumer technology—that distinction now falls to Apple. The iPhone maker netted $57.4 billion in its 2020 fiscal year [https://www.apple.com/newsroom/pdfs/FY20_Q4_Consolidated_Financial_Statements.pdf] , while the oil giant recorded a (measly for Aramco) $49 billion profit. Aramco’s annual profit [https://apnews.com/ar

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South Africa is racing to head off a deadly third wave of Covid-19
News

South Africa is racing to head off a deadly third wave of Covid-19

South Africa is bracing for a third wave of Covid-19, expected to arrive with the start of winter this June. The predicted rise in infections could rival the deadliness of a wave that only recently subsided. Experts say the magnitude of the surge will depend on the pace of vaccinations, the willingness of the public to abide by physical distancing and other public-health measures, and the extent to which the virus creates new variants. A second wave of the pandemic that tailed off in February

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Tesla needs China, but China also needs Tesla
News

Tesla needs China, but China also needs Tesla

In China’s business circles, executives talk admiringly of a particular type of firm they refer to as a “catfish.” These companies, voracious competitors in crowded markets, force rivals to improve their performance or perish. In China’s hyper-competitive electric vehicle (EV) market, the metaphor of an aggressive fish gobbling up its lesser rivals until only the strongest remain is an apt one. China has around 450 EV manufacturers, according to the Center for Strategic and International Studie

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Tesla changed what competitive advantages mean in the EV race
News

Tesla changed what competitive advantages mean in the EV race

In the auto industry, Jan. 8, 2021 was an earthquake. Tesla’s valuation eclipsed that of the rest of the world’s automakers combined, reaching a record $844 billion. Although the electric carmaker was responsible for selling less than 1% of the world’s vehicles, in the eyes of investors, at least, it was worth more than an entire industry that has been around since the 1880s. The future of vehicles, the market is saying, will look nothing like its past. But at present, little about Tesla’s valu

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Namibians aren’t in the mood to celebrate their independence day

Namibians aren’t in the mood to celebrate their independence day

Namibia celebrates its 31st independence day this month [https://www.sahistory.org.za/dated-event/namibia-gains-independence]. But Namibians are not in a festive mood. A 2019 survey [http://www.afrobarometer.org/press/trust-political-institutions-decline-namibia-afrobarometer-survey-shows] by Afrobarometer, the independent African research network, showed a significant loss of trust in the country’s governance. Worse: 2020 became “a year like no other [https://ippr.org.na/publication/namibia-q

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The UK’s pathway to net zero carbon emissions is about to get harder
Musk

The UK’s pathway to net zero carbon emissions is about to get harder

In 1990, as UK prime minister Margaret Thatcher was about to leave office, the economy was slipping into recession and construction workers on the Channel Tunnel had just reached the shores of France. At the time, the country was emitting [https://www.gov.uk/government/collections/provisional-uk-greenhouse-gas-emissions-national-statistics] about 794 million metric tons of greenhouse gases per year. Thirty years later, emissions are less than half that level, according to a new analysis [https

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Why Indian films and TV shows have found a second home in Ghana

Why Indian films and TV shows have found a second home in Ghana

Over the past 10 years, Indian television series have become a feature in many households across Ghana as they’ve become available on cable and satellite channels. Romantic dramas (such as Til the End of Time) and historical dramas (such as Razia Sultan), have gained popularity. One show loosely based on Jane Austen’s classic novel Sense and Sensibility called Kumkum Bhagya has even been dubbed in Twi [http://ugspace.ug.edu.gh/handle/123456789/22658], an Akan language spoken in southern and ce

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NFTs for fashion are inevitable

NFTs for fashion are inevitable

Fashion is rarely just about utility. It’s also a means of self-expression and a way to communicate status and identity. With lots of shoppers today seeking ways to signal these attributes in the digital world as much as the physical one, it’s created an opportunity for fashion to go virtual. Some of the industry’s top luxury brands are ready, and one market they’re likely to break into is non-fungible tokens, or NFTs, the blockchain-backed unique digital assets that have been selling for start

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The UK figured out how to design safer streets for women in the 1980s—and abandoned the effort

The UK figured out how to design safer streets for women in the 1980s—and abandoned the effort

Lights, cameras, cops. These are among the new safety measures [https://www.bbc.com/news/uk-56410943] the British government introduced this week, amid the clamor for safer streets after the abduction and murder [https://qz.com/1983879/london-police-criticized-for-arresting-women-at-everard-vigil/] of Sarah Everard, 33, this month. The plan includes investing £45 million ($62 million) for additional street lights and video surveillance cameras, and placing more undercover police in bars and n

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China is refining more oil than the US for the first time

China is refining more oil than the US for the first time

The US, home to more oil refineries than any other country, lost its title to China as the world’s largest refiner of raw crude oil in 2020. China began refining more crude oil into gasoline and other products for the first time during the pandemic, according to new data [https://www.eia.gov/petroleum/weekly/?src=email] from the US Energy Information Administration (EIA), and it has largely remained in the lead. The upset is largely due to the pandemic-related drop in demand for gasoline and je

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LeBron James is the only thing stopping himself from owning an NBA franchise

LeBron James is the only thing stopping himself from owning an NBA franchise

LeBron James has already amassed one of, if not the most, impressive on-court careers of any great basketball player. James, a 16-time all-star and four-time champion, has led three separate franchises to National Basketball Association championship glory and amassed an enviable net worth. James’s exact wealth is hard to pin down, but in 2018 Forbes estimated it to be about $450 million [https://www.forbes.com/sites/kurtbadenhausen/2018/11/20/how-lebron-james-built-a-net-worth-of-450-million/?sh

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Volkswagen is trouncing Tesla in the stock market this year

Volkswagen is trouncing Tesla in the stock market this year

Shares in gas-guzzling car makers from Volkswagen to General Motors are soaring as they talk up their plans for electric vehicles. While they are light years from catching up to the market value of Tesla, the gains suggest growing faith from investors that companies from Detroit to Deutschland can reinvent themselves. Volkswagen, the world’s second-biggest car seller, has risen more than 50% in the stock market this year, according to FactSet data. GM stock has rallied 46%, while shares of Toky

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China’s crackdown on Jack Ma has come to Hong Kong’s paper of record

China’s crackdown on Jack Ma has come to Hong Kong’s paper of record

As the Communist Party’s crackdown on Hong Kong merges with its crackdown on Jack Ma’s tech empire, it’s sparking intense worry about the future of the city’s 117-year-old newspaper of record. When Ma’s Alibaba Group acquired the South China Morning Post in 2015 from a Malaysian tycoon, amid increasing signs that Beijing was tightening control of Hong Kong, fears swirled that the new ownership would undermine the English-language broadsheet’s editorial independence. But Ma and Gary Liu, CEO of

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How much more energy will the US need to electrify everything?

How much more energy will the US need to electrify everything?

The global economy needs to go electric. Most economists agree that the quickest, lowest-cost way [https://www.princeton.edu/news/2020/12/15/big-affordable-effort-needed-america-reach-net-zero-emissions-2050-princeton-study] to eliminate greenhouse gas emissions is to plug everything that now burns fossil fuels—vehicles, buildings, factories—into a clean electricity grid. How much strain will that put on the grid? By 2050, the US will demand nearly 90% more power than it did in 2018, in a sce

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Greater empathy in the workplace can heal society
NASA

Greater empathy in the workplace can heal society

Even before the disruptive and damaging events of 2020 and early 2021—a global pandemic, a racial reckoning, economic uncertainty, and the most divisive political climate in living memory—our society has had a larger, more encompassing problem. We have an empathy deficit. For a lot of reasons we can point to—stark political divisions, the isolation made easy by technology, the deterioration of civility—we have given up on understanding our fellow humans. We’ve collectively lost the ability to

South Africa’s next Zulu king will have to modernize the monarchy

South Africa’s next Zulu king will have to modernize the monarchy

The Zulu dynasty has almost been felled numerous times by trials [https://www.britannica.com/event/Anglo-Zulu-War], trysts [https://www.news24.com/news24/mynews24/queen-nandi-a-remarkable-woman-20140829] and tragedies [https://www.sahistory.org.za/article/origins-battle-blood-river-1838], but has stood steady through the centuries. The largest ethnic group [https://en.wikipedia.org/wiki/Zulu_people] and nation in South Africa today, counting in excess of 10 million people, the Zulus have a fami

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The two Elon Musk fanboys behind Tesla’s first unofficial fan club in India

The two Elon Musk fanboys behind Tesla’s first unofficial fan club in India

In April 2016, when American electric carmaker Tesla first opened pre-bookings for its Model 3 sedan for Indians, a bunch of prominent tech entrepreneurs [https://qz.com/india/652561/indias-entrepreneurs-are-already-pre-ordering-teslas-model-3-even-though-they-have-no-idea-how-much-itll-cost/] immediately shelled out—and flaunted—the $1,000 (Rs72,000) needed to get into the queue. These people neither knew how much Tesla Model 3 would cost in India nor had any idea about when it would be ready

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Nike’s biggest problem is getting shoes to its customers

Nike’s biggest problem is getting shoes to its customers

Nike is straining to get its shoes and clothes into the US from the overseas factories that produce them [https://qz.com/1274044/nike-and-adidas-are-steadily-ditching-china-for-vietnam-to-make-their-sneakers/] , dragging down sales in its largest market. The company said today its quarterly sales in North America fell 10.4% [https://investors.nike.com/investors/news-events-and-reports/investor-news/investor-news-details/2021/NIKE-Inc.-Reports-Fiscal-2021-Third-Quarter-Results/default.aspx] com

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The most unique places in the world to get a Covid-19 vaccine

The most unique places in the world to get a Covid-19 vaccine

When I received a text from England’s National Health Service (NHS) informing me that I could sign up to get a Covid-19 vaccine, I clicked on the link and found an available slot just one hour later that same day. All that was left was to pick one of three possible vaccination centers close to where I live. The second option caught my eye: Westminster Abbey, where every British monarch [https://www.historic-uk.com/HistoryMagazine/DestinationsUK/Westminster-Abbey/#:~:text=Situated%20in%20the%20gr

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Lyft just had its first year-to-year rise in daily ride volume since the pandemic began

Lyft just had its first year-to-year rise in daily ride volume since the pandemic began

The pandemic has hit ride-hailing companies hard, but ride-sharing appears to be healing. Lyft says its ridesharing business last week was at its busiest since the pandemic started. And on March 17, for the first time in a year, daily rides volume for the ridesharing business was higher than the same day last year. Lyft says it expects year-over-year daily rides growth to start doubling next week as it comes upon the first anniversary of the deepest one-week shock to its business amid lockdown

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SPAC investors can learn from Iridium’s 30-year overnight success

SPAC investors can learn from Iridium’s 30-year overnight success

More than a decade before today’s surge of space SPACs [https://qz.com/1979846/virgin-galactic-launched-a-wave-of-space-spacs/], one satellite company proved that a merger with a blank check company can indeed succeed. That firm is Iridium, the satellite telecom valued at more than $5 billion. In 2020, its revenue grew to a record $583 million, and the company announced its first stock buyback plan. It’s been a lot of work to get there—and the circumstances might provide a word of warning to in

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High-profile CEOs are banding together to call for an end to the death penalty

High-profile CEOs are banding together to call for an end to the death penalty

Eighteen founders and CEOs released a letter today [http://www.businessagainstdeathpenalty.org] calling for an international end to the death penalty, and asked fellow business leaders to join them in a campaign to abolish the practice in countries including the US and Egypt. The signatories include Richard Branson, founder of the Virgin Group and leader of the CEO campaign; Ariana Huffington, co-founder of the Huffington Post and founder and CEO of Thrive Global; and Ben Cohen and Jerry Greenf

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IKEA has replaced its print catalog with an audiobook
News

IKEA has replaced its print catalog with an audiobook

When IKEA canceled its beloved print catalog [https://qz.com/quartzy/1036380/ikea-catalogue-2017-defining-domestic-bliss-in-different-cultures/] last year, it hinted at plans to venture into new formats to better reach an increasingly internet-dependent customer base. The world’s largest furniture company bolstered its e-commerce platform, built a better mobile app, and opened a string of small retail outlets in urban areas around the world. In what may be its zaniest gambit yet, IKEA has launc

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