The reign of telecoms shills meddling in internet regulations seems to be coming to a close, at least for now. The New York Times reports that Joe Biden has chosen Tim Wu, who’s credited with defining foundational concepts like net neutrality, to serve on the National Economic Council in a new role as a special assistant for technology and competition policy. While the extent of Wu’s power in an advisory role is still somewhat undefined, it’s represents a considerable step away from the corporate favor-trading that defined the Trump era.
Read more about US Market surges as Powell soothes inflation fears on Business Standard. At the close of trade, the Dow Jones Industrial Average index rose 424.51 points, or 1.35%, to 31,961.86. The S&P500 index added 44.06 points, or 1.14%, to 3,925.43. The tech-heavy Nasdaq Composite Index grew 132.77 points, or 0.99%, to 13,597.97.
Two of the biggest remaining American tire companies are joining forces. Goodyear Tire and Rubber Co. is acquiring Cooper in a deal valued at USD 2.5 billion that will combine the two century-old Ohio manufacturers. Cooper, founded in 1914, is the 5th largest tire maker in North America based on revenue. The company has about 10,000 employees in 15 countries. In addition to the Cooper brand, it also owns Mastercraft, Roadmaster and Mickey Thompson. For Goodyear, the bigger company, the deal will nearly double its presence in China. Cooper will get access to Goodyear s 2,500 retail locations. The auto industry navigated a whirlwind year with the pandemic and all of the economic disruptions that accompanied it.
Photo: Daniel Boczarski (Getty Images)
A new docuseries from Mark Wahlberg’s production company will examine the spectacular failure of subscription service MoviePass.
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Wahlberg’s company Unrealistic Ideas has partnered with Assemble Media and Insider on the limited series, Deadline reported Thursday. The project will draw from Insider senior entertainment reporter Jason Guerrasio’s coverage of MoviePass’s dramatic collapse and will feature “exclusive first-hand accounts from the MoviePass founders who watched the company they built destroyed by Wall Street greed,” among other subjects, according to Deadline.
Guerrasio confirmed the project in a tweet on Thursday, writing that it had “been an insane year working on this but so excited with what [Assemble Media] and [Mark Wahlberg’s] Unrealistic Ideas has cooked up.”