By Justin Sink, Josh Wingrove and Riley Griffin
President Joe Biden will announce Tuesday that Merck & Co. Inc. will help make Johnson & Johnson’s single-shot Covid-19 vaccine — a collaboration between rivals as the immunization race narrows and governments race to ramp up supply before dangerous new variants of the virus further erupt.
Assistant Press Secretary Kevin Munoz said via Twitter that Biden would announce the “historic partnership,” reported earlier by the Washington Post. White House Chief of Staff Ron Klain said in a tweet that Biden would announce the deal in afternoon remarks.
J&J’s vaccine was authorized for…
By Jason Schreier
Google’s streaming video game service Stadia had ambitious plans to disrupt the gaming industry, which is dominated by consoles. The tech giant had planned to pack Stadia with original content, announcing two years ago that it was hiring hundreds of game developers and starting studios in Los Angeles and Montreal.
But those teams barely had time to get started before they were dismissed earlier this month as Google shut down in-house game development.
From the beginning, Google’s approach to video games wasn’t very Google-like. The Alphabet Inc. company tends to launch bare-bones products and test them as…
By Ben Stupples
Working at Airbnb Inc. allowed Brian Armstrong to see the difficulties of handling payments from around the world.
That led to the idea of creating a digital wallet to hold Bitcoin, which later became Coinbase Global Inc. The biggest U.S. crypto exchange is now going public in a direct listing, and Armstrong is one of the biggest winners.
Coinbase’s co-founder has become a billionaire but estimates of his fortune vary, underscoring the wild price swings of cryptocurrencies. His stake is worth $7 billion to about $15 billion, based on recent private share sales that people familiar with…
By Katia Dmitrieva
In a one-bedroom apartment above a Washington neighborhood of bars, clubs and brunch spots, Janelle Jones is busy trying to fix the U.S. labor market — one economic report and one Mario Kart race at a time.
The Biden administration appointed the 36-year-old as the Department of Labor’s chief economist, a little-known position that will influence the futures of millions of people. In between wading through endless spreadsheets, enduring hours of video meetings and analyzing reams of economic data, she picks up the video-game controller to clear her head.
The first Black woman in the job, Jones…
By Jason Schreier
CD Projekt SA said Wednesday it will delay a promised update to the much-criticized role-playing game Cyberpunk 2077, pinning the blame for its slow progress on a recent security breach. As a result of the ransomware attack, which was disclosed on Feb. 9, most of its employees have been locked out of their workstations for the past two weeks, according to people familiar with the matter.
By Ellen Huet
A new startup run by former employees of the payment processor Stripe Inc. will help companies analyze the full range of their carbon emissions and figure out the best way to reduce and offset them.
Watershed Technology Inc., which said Wednesday it has raised funding from Sequoia Capital, Kleiner Perkins and Laurene Powell Jobs, has built a software tool that lets customers such as mobile payment firm Square Inc., e-commerce platform Shopify Inc., and salad chain Sweetgreen Inc. make sense of their own and their suppliers’ emissions. …
By Jenny Leonard
President Joe Biden on Wednesday will order a government review of U.S. supply chains, seeking to end the country’s reliance on China and other adversaries for crucial goods.
But the process will take months, offering no immediate solution for a shortfall of semiconductors that’s idled auto production at several factories.
The administration’s 100-day review will cover chips but also include large-capacity batteries, pharmaceuticals and critical minerals and strategic materials like rare earths, according to the White House.
The issue has taken on urgency with a global chip shortage that’s forced some U.S. carmakers to idle plants. The…
By Mark Chediak, Naureen S. Malik and Josh Saul
Now that the lights are back on in Texas, the state has to figure out who’s going to pay for the energy crisis that plunged millions into darkness last week. It will likely be ordinary Texans.
The price tag so far: $50.6 billion, the cost of electricity sold from early Monday, when the blackouts began, to Friday morning, according to BloombergNEF estimates. That compares with $4.2 billion for the prior week.
Some of those costs have already fallen onto consumers as electricity customers exposed to wholesale prices wracked up power bills…
By Justina Lee
Rocket emojis for stock gains. “Tendies” as slang for profits. GIFs with company tickers.
Reddit forum WallStreetBets is hard for humans to follow at the best of times. But spare a thought for the machines.
After the retail stock frenzy last month caused unprecedented havoc, hedge funds trawling the platform with algorithms have a renewed sense of purpose in their mission to figure out the next market craze.
By Catherine Traywick, Mark Chediak, Naureen Malik and Josh Saul
The control room of the Texas electric grid is dominated by a Cineplex-sized screen along one wall. As outdoor temperatures plunged to arctic levels around the low-slung building 30 miles from Austin last Sunday night, all eyes were on it. The news wasn’t good.
Electric demand for heat across the state was soaring, as expected, but green dots on the corner state map started flipping to red. …