A naive part of me hoped for a slow start to Monday. This was not my 👏 day 👏.

Let’s kick off the week with a highly debated topic: the move by some venture capitalists to Florida and Texas.

Founders Fund, the venture capital firm founded in part by Peter Thiel, has rented out space in Miami for a new office.

The firm, which has invested in the likes of Airbnb, signed a one-year lease at a space with 2,073 square feet in the city. Joining the outspoken number of investors frustrated by San Francisco’s government, Founders Fund General Partner Keith Rabois recently announced his move to the city in November and acquired a home in the area.

On Twitter, Rabois has been highly vocal about his bullishness towards the city: “It has been easier to recruit people to join our new startup in Miami than to persuade … Read the rest

A shopping centre in Coventry that eight years ago was valued at £37 million was sold this week for only £4.9 million, setting alarm bells ringing among lenders, landlords and local authorities nationwide.

West Orchards’ importance as the city’s primary shopping destination cannot be underestimated — “It’s almost our Galeries Lafayette,” Trish Willetts, director of Coventry’s business improvement district, said, comparing it with the landmark Paris department store — but now interest in the centre is spreading far beyond the West Midlands and what, from May 1, will be the UK’s “City of Culture”.

Its biggest unit was let to Debenhams, the department stores chain that fell into administration last year. Boohoo, the online fast-fashion group that acquired Debenhams last month, is not keeping any of its stores. Other West Orchards tenants that have fallen into administration during the pandemic include Peacocks and Bonmarché, the women’s fashion chains.

The leasehold … Read the rest

Equity markets in Canada’s biggest centre triumphed Friday to finish off a very successful week, carried largely by resource and tech stocks.

The S&P/TSX Composite gained 93.93 points to close Friday and the week at 18,135.90. The index added nearly 800 points on the week, or 4.6%.

The Canadian dollar jumped 0.36 cents to 78.34 cents U.S.

Golds led the pack, with Eldorado Gold surging $1.67, or 11.3%, to $16.42, while New Gold up 13 cents, or 5.9%, to $2.34.

In other resource stocks, Canfor picked up $1.41, or 5.4%, to $27.76, and Interfor popping $1.47, or 5.5%, to $28.00

In the tech world, BlackBerry dominated, gaining $1.40, or 9%, to $17.00, while Docebo sprang $2.08, or 3%, to $71.50.

Consumer staples pointed downward, however, as Alimentation Couche-Tard slid $1.22, or 3%, to $39.74, while North West Company dropped 81 cents, or 2.4%, to $33.30.

In the health-care sector, Aurora … Read the rest

This is an installment of Startup Year One, a special series of interviews with founders about the major lessons they have learned in the immediate aftermath of their businesses’ first year of operation.

Nydia Shipman and Sarah Renahan started the Worthy Company in 2018. As new moms, they were seeking a better eating experience that delivered plant-based nutrition in a portable format and at a reasonable price.

Their solution: the Worthy Bowl, a plant-based, fruit-forward, travel-friendly bowl made with superfood ingredients. And the Chicago-based, B Corp–certified company just finished launching the reformulated flavors last month.

Fortune recently spoke with cofounders Shipman and Renahan to learn more about their insights and predictions for their business and the plant-based food industry after a year in which grocery shopping was completely upended.

Courtesy of The Worthy Company

The following interview has been condensed and lightly edited for clarity.

Fortune: Could Read the rest

Fewer people are travelling into the office with remote working now at its most widespread since the spring, according to official figures.

About 36 per cent of working adults operated exclusively from home in the past seven days, the Office for National Statistics said. This was up from 34 per cent the week before and was the highest level since June.

The government is advising people to work from home whenever possible during the third national lockdown. The figures suggest that businesses and their employees are modifying their behaviour more than they did during the November lockdown.

The proportion of workers on furlough also edged up slightly from 17 per cent to 18 per cent as businesses, particularly those in the hardest-hit sectors, were forced to close or scale back their operations.

The ONS said that 22 per cent of businesses had paused trading and did not intend to restart … Read the rest



Featured Earnings

KKR Inc. (NYSE:KKR) (Q4) EPS projected of 41 cents, compared to 44 cents in the prior-year quarter.

Callaway Corp. (NYSE:ELY) (Q4) EPS projected for loss of 21 cents, compared to a loss of 26 cents in the prior-year quarter.

Mesa Laboratories (NASDAQ:MLAB) (Q2) EPS projected for gain of $1.26, compared to a loss of 12 cents in the prior-year quarter.


Featured Earnings

PrairieSky Royalty Ltd. (T.PSK) (Q4) EPS projected of 47 cents, compared to four cents in the prior-year quarter.

TFI International Inc. (T.TFII) (Q4) EPS projected for $1.05 compared to $1.25 in the prior-year quarter.

TMX Group Limited (T.X) (Q4) EPS projected for $1.45, compared to $1.40 in the prior-year quarter.




Economic Lookahead

NFIB small-business index (Jan.)

Job openings (Dec.)

Featured Earnings

Cisco Systems (NASDAQ:CSCO) (Q2) EPS projected for 68 cents, compared to 71 cents in the prior-year quarter.

DuPont de … Read the rest

The pandemic forced another 275,000 women out of the U.S. labor force in January, worsening the catastrophic employment crisis for working women.

Women accounted for almost 80% of U.S. adults who stopped working or looking for work last month, according to an analysis of Friday’s jobs report by the National Women’s Law Center. More than 2.3 million women have now left the labor force since last February. (The pandemic has had a lesser impact on men, even though they outnumber women in the U.S. labor force; nearly 1.8 million men have stopped working or looking for work since February 2020, according to the NWLC.)

Working women have now lost more than three decades of labor force gains in less than a year, as we report in the new issue of Fortune. The ongoing employment crisis, which is closely aligned with a widespread caregiving crisis, has especially hurt … Read the rest

Just over 90,000 new cars were sold in the UK in the slowest January for more than 50 years, according to industry figures released on Thursday.

Sales fell 40% compared with January 2020 to 90,249, as the closure of car showrooms under lockdown compounded the economic gloom.

The Society of Motor Manufacturers and Traders (SMMT) said the uptake of “click and collect” sales had prevented an even greater fall but could not avert the worst start to a year since 1970.

The SMMT forecasts that 2021 sales will rebound slightly from the depths of 2020, but said the industry would face a very subdued and challenging year, with showroom closures depressing demand and manufacturing output. New car sales fell by 29% last year to 1.63m vehicles, the lowest level since 1992.

Mike Hawes, the SMMT’s chief executive, said: “Following a £20.4bn loss of revenue last year, the auto industry faces … Read the rest

Canada’s main stock index hit a record high on Friday, supported by energy stocks and was set to clock its best week since November, offsetting concerns about worse-than-expected domestic jobs data for January.

The S&P/TSX Composite popped 103.57 points to reach noon hour EST at 18,145.54.

The Canadian dollar picked up 0.3 cents to 78.28 cents U.S.

The largest percentage gainer on the TSX was Eldorado Gold, which jumped $1.01, or 6.9%, to $15.76, after signing a revised contract with Greece to govern further development, construction and operation of its Kassandra Mines.

Interfor Corporation rose $1.50, or 5.6%, to $28.03 after reporting strong fourth-quarter results.

Canopy Growth fell $1.23, or 2.2%, the most on the TSX, to $55.10. The second-biggest decliner was Intertape Polymer Group, down 27 cents, or 1.1%, to $23.32.

It’s a busy day on the macroeconomic scene, with Statistics Canada informing us the economy lost 213,000 jobs … Read the rest

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It’s the special purpose acquisition craze meeting the GameStop insanity.

On Thursday, Hindenburg Research, the short-selling firm known for flagging issues with electric car company Nikola last year, released a report targeting Chamath Palihapitiya-backed Clover Health and called it a “broken business.”

The insurance startup agreed to go public via merger with Palihapitiya’s Social Capital Hedosophia III in October. “This is one of the most straightforward investments I’ve ever made,” Palihapitiya said at the time of the announcement.

But on Thursday, Hindenburg Research’s report argued Clover Health was not so straightforward: Among other issues, the short-activist group accused the company of fueling sales using misleading marketing to elderly people and alleged that Clover did not disclose a Department of Justice investigation … Read the rest