Business Highlights
Roundup of top economy stories
ATLANTA — Some of Georgia’s most prominent corporate leaders are beginning to more forcefully criticize the state’s sweeping new election law. They’re acknowledging the concerns of civil rights activists who say the law threatens the democratic process. The chief executives of Delta Air Lines and Coca-Cola have now called the law “unacceptable.” Their criticism is opening an unusual rift with Republican leaders who championed the restrictions and typically enjoy a cozy relationship with Georgia’s business community. The Major League Baseball Players Association also has raised the idea of moving the summer All-Star game from the Atlanta Braves home stadium.
SILVER SPRING, Md. — Just a few months ago, almost no one would have paid actual money for a digital image that could be copied for free. But sports trading cards have gone convincingly virtual thanks to a clever use of the technology that underlies Bitcoin and similar cryptocurrencies. These virtual collectible cards — spinning, floating digital cubes that each feature a video highlight of an NBA player — typically cost $10 to $20 on the trading site Top Shot, created by a Canadian startup and the NBA. But a LeBron James dunk highlight that’s easy to find on the internet for free recently sold for $210,000.
NEW YORK — The bursts of confetti that shower screens of Robinhood investors when they make their first trade — and serve as the punchline for critics who say the popular app treats investing like a game — are going away. Starting this week, Robinhood will begin replacing them with a suite of animations that are decidedly measured in pace.
NEW YORK — Journalists are wary of looking out for pranksters around April Fool’s Day, but this time it came from a multi-billion dollar corporation. Volkswagen admitted that it hoodwinked reporters at several news organization with the fake news that it was changing its name in America to “Voltswagen.” It was all an attempt to promote a new electric utility vehicle, but it angered news organizations who take their reputations for accuracy very seriously. The Associated Press said the deliberate release of false information “hurts accurate journalism and the public good.” VW admitted to the deception late Tuesday.
SILVER SPRING, Md. — The number of Americans who signed contracts to buy homes last month fell by the most since last year’s virus outbreak sent the economy into freefall. The National Association of Realtors’ index of pending home sales tumbled 10.6% to 110.3 in February, its lowest level since May of last year. Combined with a 2.4% dip in January, contract signings are now 0.5% behind where they were last year after eight straight months of year-over-year gains. Contract signings, considered a barometer of purchases that will take place in the next two months, fell in all four regions in February.