Robert Hockett and Will Cong weigh in on El Salvador becoming the first country to make bitcoin ‘legal tender,’ alongside the U.S. dollar.

Economics and Business

Law School

Cornell SC Johnson College of Business

Johnson Graduate School of Management

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This week, the Biden administration will revise the Paycheck Protection Program, the main U.S. coronavirus relief program for small businesses, to focus its reach to smaller, minority firms. Tom Schryver, visiting lecturer at Cornell University’s SC Johnson College of Business and the David J. BenDaniel Faculty Advisor for the BR Ventures Fund, says small firms have lacked the resources available to large companies. As such, providing them with targeted loans is crucial for their survival.

Economics and Business

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The Federal Reserve is scheduled to wrap up its two-day meeting on Wednesday afternoon, when it will announce its latest policy decisions. While experts do not anticipate a significant shift in the central bank’s posture, many are looking for signs on how the Fed is planning for potentially high inflation in the near future. Cornell experts, Sarah Wolfolds and Shawn Mankind, weigh in on the Fed's likely posture. 

Dyson School of Applied Economics & Management

Economics and Business

Johnson Graduate School of Management

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On Thursday, the U.S. Bureau of Labor Statistics will release figures for unemployment in the month of June. Cornell experts Erica Groshen and Murillo Campello are available for interviews about the report and the challenges facing the U.S. job market.

Economics and Business

Industrial and Labor Relations

Cornell SC Johnson College of Business

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The government’s $2 trillion stimulus package includes more than $350 billion in loans and payroll tax relief destined to help small and medium firms, those who are self-employed as well as freelancers and gig workers. Tom Schryver, visiting lecturer at the SC Johnson College of Business at Cornell University, says that in helping small businesses, the government is walking a line between getting things done fast and offering the perfect solutions.

Economics and Business

Cornell SC Johnson College of Business

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On Wednesday, vaping firm Juul announced it was replacing its chief executive, Kevin Burns, with KC Crosthwaite, formerly with tobacco giant Altria. The replacement follows reports of vaping-related lung diseases and growing concerns about the firm’s advertising towards children. Hyunseob Kim, professor of finance in the Johnson Graduate School of Management at Cornell University and an expert in corporate governance says that a former tobacco executive is a natural pick given their expertise with regulators, one of Juul’s most important audiences in the foreseeable future.

Economics and Business

Cornell SC Johnson College of Business

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In Walmart’s first social responsibility report, released this week, the company outlined its commitment to sustainable growth and reported a few key figures, including employee compensations. Wages for Walmart’s average employee are growing, according to the report. The retail giant is also investing in training and education programs. Hyunseob Kim studies corporate finance and labor economics at Cornell University’s Johnson Graduate School of Management, where he focuses on the effects of corporate governance and investment on wages and productivity. Kim says that Walmart is responding to an increasingly tight labor market.

Economics and Business

Cornell SC Johnson College of Business

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Today, Levi Strauss & Co will begin trading on the New York Stock Exchange, with shares expected to be priced between $14 and $16. This is the second time the clothing company has launched an initial public offering (IPO), the first time being 1971. Nicholas Guest, professor of accounting at the Cornell SC Johnson College of Business studies how companies make decisions when trading in the equity market. He says investors should approach this IPO with a level of skepticism.

Economics and Business

Cornell SC Johnson College of Business

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The European Union announced it has set up an “International Contact Group,” including members of the EU as well as four Latin American countries, to help find solutions to the ongoing political crisis in Venezuela. The group, set to meet in Uruguay on Thursday, will pressure Venezuela’s current president to set a date for new elections. Lourdes Casanova, academic director of Cornell University’s Emerging Markets Institute, says that on top of the uncertain political situation, Venezuela’s economic realities also do not leave much room for easy solutions.

International

Cornell SC Johnson College of Business

Johnson Graduate School of Management

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Thomas Jungbauer, assistant professor of strategy and business economics at the Samuel Curtis Johnson Graduate School of Management at Cornell University, comments on news that Google is testing a censored search engine for the Chinese market.

Computing & Information Sciences

Business, Economics & Entrepreneurship

Cornell SC Johnson College of Business

Johnson Graduate School of Management

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