The daily business briefing: April 12, 2021
Corporate leaders discuss ways to fight voting bills, Powell says the U.S. economy is at an "inflection point," and more


1. Corporate leaders hold call to discuss fighting voting bills
More than 100 corporate leaders met online over the weekend to discuss ways to fight controversial voter-restriction bills under consideration in numerous states, including Georgia Republicans' recently signed law, The Washington Post reported on Sunday, citing four people who participated in the call. One of the proposals discussed by the executives from major airlines, retailers, and manufacturers — along with at least one NFL owner — was suspending donations to politicians who support the bills. Some of the participants also proposed holding off on new investments in states that adopt new voting restrictions. Former President Donald Trump recently called for boycotts of Coca-Cola, Major League Baseball, Delta Air Lines, and other companies that condemned the Georgia law, which critics say will make it harder for people of color to vote.
2. Powell: U.S. economy at 'inflection point'
Federal Reserve Chair Jerome Powell said in a CBS 60 Minutes interview Sunday that the U.S. economy is at an "inflection point" thanks to widespread coronavirus vaccination and strong fiscal support, and should soon "start growing much more quickly" with job creation "coming in much more quickly." He said forecasters see growth up to 7 percent, which would be the highest in decades. Powell said that assumes the nation keeps making progress against COVID-19, so he said it was important for people to continue taking precautions such as social distancing and wearing masks. Powell also said that the threat of another global financial crisis, like the one that hit in 2008, is "very, very low." "The risk that we keep our eyes on the most now is cyber risk," he said.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
3. Microsoft in talks to buy AI company Nuance Communications
Microsoft is near a deal to buy artificial intelligence and speech technology company Nuance Communications at a price that could value Nuance at $16 billion, Bloomberg reported Sunday, citing people familiar with the matter. Nuance's voice recognition technology helped in the development of Apple's personal assistant Siri. The Massachusetts-based company also makes software for the health-care and automotive industries. If the deal, which could be announced as soon as Monday, goes through, it would be Microsoft's second largest acquisition, after its $26.2 billion 2016 deal to buy LinkedIn. "This can really help Microsoft accelerate the digitization of the health-care industry, which has lagged other sectors such as retail and banking," said Anurag Rana, a Bloomberg Intelligence senior analyst.
4. Stock futures pull back after last week's records
U.S. stock index futures edged down early Monday following a flurry of record highs last week. Futures for the Dow Jones Industrial Average and the S&P 500 were down by 0.2 percent several hours before the opening bell. Those of the tech-heavy Nasdaq fell by 0.3 percent. The S&P 500 reached its 20th record high of the year on Friday. The Dow also finished the week at its highest level ever. Investors on Monday braced for the start of earnings season and economic data. A report on March inflation due Tuesday is expected to show that consumer prices rose last month. There's "a bit of a question mark in markets just saying: We're seeing strong gains; is this quite right?" said Edward Park, chief investment officer at U.K. investment firm Brooks Macdonald.
5. Alibaba shares jump after fine by Chinese regulators
Alibaba shares surged by 5 percent in Hong Kong on Monday after Chinese regulators fined the e-commerce giant $2.8 billion after an anti-monopoly investigation. The investigation started in December, and focused on Alibaba's requirement that merchants list products on one of two sales platforms, not both. China's State Administration for Market Regulation said Saturday that the policy stifled competition and infringed on the rights of the businesses and consumers. "Despite the record fine amount, we think this should lift a major overhang on BABA and shift the market's focus back to fundamentals," Morgan Stanley wrote in a note on Sunday.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.
-
Today's political cartoons - April 1, 2025
Cartoons Tuesday's cartoons - trade wars, tax deadlines, and more
By The Week US Published
-
The ETA: how new UK travel rules may affect you
The Explainer Full roll-out of Britain's new travel scheme is designed to be easy, but some have already faced problems
By Rebekah Evans, The Week UK Published
-
Arts on prescription: why doctors are prescribing museums and comedy
In The Spotlight Stressed-out patients in Switzerland are being prescribed a trip to the museum to boost their mental wellbeing
By Chas Newkey-Burden, The Week UK Published
-
'Like a sound from hell': Serbia and sonic weapons
The Explainer Half a million people sign petition alleging Serbian police used an illegal 'sound cannon' to disrupt anti-government protests
By Abby Wilson Published
-
The arrest of the Philippines' former president leaves the country's drug war in disarray
In the Spotlight Rodrigo Duterte was arrested by the ICC earlier this month
By Justin Klawans, The Week US Published
-
Ukrainian election: who could replace Zelenskyy?
The Explainer Donald Trump's 'dictator' jibe raises pressure on Ukraine to the polls while the country is under martial law
By Sorcha Bradley, The Week UK Published
-
Why Serbian protesters set off smoke bombs in parliament
THE EXPLAINER Ongoing anti-corruption protests erupted into full view this week as Serbian protesters threw the country's legislature into chaos
By Rafi Schwartz, The Week US Published
-
Who is the Hat Man? 'Shadow people' and sleep paralysis
In Depth 'Sleep demons' have plagued our dreams throughout the centuries, but the explanation could be medical
By The Week Staff Published
-
Why Assad fell so fast
The Explainer The newly liberated Syria is in an incredibly precarious position, but it's too soon to succumb to defeatist gloom
By The Week UK Published
-
Romania's election rerun
The Explainer Shock result of presidential election has been annulled following allegations of Russian interference
By Sorcha Bradley, The Week UK Published
-
Russia's shadow war in Europe
Talking Point Steering clear of open conflict, Moscow is slowly ratcheting up the pressure on Nato rivals to see what it can get away with.
By The Week UK Published