Why NFTs saw $941 million in trading volume in January – the highest since June 2022

Non-fungible tokens registered $941 million in trading volume in January 2023, up 38% from December, and the highest on record since June 2022, according to a Feb. 2 report by DappRadar, which tracks and analyzes the activity of NFT marketplaces. Non-fungible tokens, which provide proof of ownership of a digital asset like online artwork, surged … Read more

McConnell ousts Senate Republicans Rick Scott and Mike Lee from Commerce Committee. Both opposed McConnell’s continued leadership.

Rick Scott listens to a question at a January news conference at the U.S. Capitol. Anna Moneymaker/Getty Images Senate Minority Leader Mitch McConnell booted two Republican lawmakers from a powerful Senate committee on Wednesday after an unsuccessful attempt last year to oust him from his longtime leadership position.  Senate Republicans Rick Scott of Florida and Mike … Read more

U.S. productivity rebounds in fourth-quarter

The numbers: U.S. productivity rose at a 3% annual clip in the fourth quarter, the government said Thursday. That’s the fastest pace for the year. Economists surveyed by the Wall Street Journal had projected a 2.5% increase.  In all of 2022, U.S. productivity declined at a 1.3% rate. That’s the lowest annual rate since 1974. … Read more

New Alzheimer’s drug shows some promise, but has big price tag

The Food and Drug Administration recently granted fast-track approval to a new Alzheimer’s drug designed to slow the rate of cognitive decline for individuals in the early stages of the disease.  Lecanemab, which will be sold under the brand name Leqembi, was developed jointly by Eisai 4523, -1.05% and Biogen BIIB, +0.24% — the same … Read more

Bed Bath & Beyond misses more than $28 million in interest payments on bonds: report

Beleaguered retailer Bed Bath & Beyond Inc. has missed interest payments on its bonds, the Wall Street Journal reported late Wednesday, as the possibility of bankruptcy looms over the company. Bed Bath & Beyond BBBY, confirmed to the Journal that it missed more than $28 million in payments for three tranches of notes totaling about … Read more

‘Decidedly less hawkish’: 4 takeaways from Powell’s press conference as Fed hikes rates again

The Federal Reserve on Wednesday approved a quarter-percentage-point hike in interest rates to a range of 4.5%-4.75%. That was the smallest rate hike in a year, and one that had been telegraphed by many Fed officials. In addition, the Fed’s statement left in language that it saw “ongoing increases in the target range” — which … Read more

Biden’s plan to curb credit-card late fees could undercut Apple, Google app stores

President Joe Biden’s push to curb credit-card late fees means consumers could expect lower prices charged by Apple Inc. and Alphabet Inc.’s Google on their mobile app stores, and more competition on digital platforms. As part of Biden’s plan to eliminate “junk fees” associated with consumer services for concert tickets, mobile plans and air travel, … Read more

‘The Last of Us’ in real life? Rising temperatures may spread fungal infections, research says 

One of the most suspenseful scenes in the HBO series “The Last of Us” comes in its pilot episode, when a scientist predicts that the end of the world won’t come from a viral pandemic, but rather, a fungal one. Smash cut to several decades later — on the show, that is — and a … Read more

Rivian to lay off 6% of workforce in EV maker’s second round of job cuts

Rivian Automotive Inc. RIVN, +1.60%  plans to initiate another round of layoffs, the latest in the electric-vehicle startup’s efforts to preserve cash as it confronts challenges scaling its business. In a note to employees sent Wednesday, Chief Executive RJ Scaringe said Rivian plans to trim another 6% of its workforce, mirroring a cut of the same size made last summer in … Read more

Amazon gets 3 more warehouse-safety citations as OSHA warns company to ‘take these injuries seriously’

The federal government on Wednesday hit Amazon.com Inc. with worker-safety related citations and penalties at three more warehouses, two weeks after issuing citations at the company’s warehouses in three different states. The latest citations are the result of the Occupational Safety and Health Administration’s investigation of Amazon AMZN, -0.06% warehouses stemming from referrals from the … Read more