In today’s fast-paced world, the business world is constantly evolving. With each passing year, new trends and challenges emerge, which makes it a fascinating space to follow. In 2021, there were several eye-catching business news headlines that caught everyone’s attention. In this article, we will recap the top ten biggest business news headlines of the year in the US.
1. GameStop Shares Skyrocketed
At the beginning of the year, GameStop, a video game company, became the talk of the town when its shares skyrocketed. This sudden surge in its stock price was caused by a group of amateur investors who used social media to drive it up. The incident not only hurt prominent investors, but also highlighted the power of social media in the stock market.
2. Amazon’s CEO Jeff Bezos Stepped Down
After over two decades of leading Amazon, Jeff Bezos stepped down as CEO in July 2021. He was succeeded by Andy Jassy, who was the former head of Amazon Web Services. The move came as a shock to many, given Bezos’ long-standing legacy as one of the world’s leading businessmen.
3. Coinbase Went Public
Coinbase, a cryptocurrency exchange platform, went public and made history in April 2021. It became the first company of its kind to be on the US stock market. The move further legitimized cryptocurrencies and signaled a growing acceptance of them in mainstream finance.
4. The Rise of NFTs
The popularization of non-fungible tokens (NFTs) was another major business headline in 2021. These digital assets, which enable the ownership of original digital artwork, music, and more, exploded in popularity. This led to auction houses, and even the auction of the world’s first NFT sold at Christie’s for $69 million.
5. Tesla’s Record Breaking Year
Tesla, the electric vehicle manufacturer, had yet another record-breaking year. Despite various controversies around its CEO, Elon Musk, the automaker’s shares rose by over 700% in 2021. The company’s growth signifies a move toward sustainable energy and away from traditional automobiles.
6. The Pandemic’s Effect on Small Businesses
The pandemic brought many businesses to a standstill, and small businesses were hit the hardest. In 2021, there was a significant surge in the number of small business closures, leading to a harsh impact on America’s economy.
7. Facebook’s Name Change
In October 2021, Facebook announced a rebranding to Meta, focusing on creating a metaverse. The change aims to shift the company’s focus towards virtual reality, which is touted to be the next big thing. This move once again highlighted the massive tech companies’ power to make significant changes in the industry.
8. The Infrastructure and Jobs Bill was Signed into Law
In November 2021, the US government passed an infrastructure bill worth $1.2 trillion. The bill aims to develop America’s infrastructure by improving roads, bridges, and other amenities. It is also expected to create several jobs while boosting the economy in the long run.
9. Supply Chain Disruptions Continued
The COVID-19 pandemic and trade set obstacles in the global supply chain, which caused a significant increase in prices of goods and services. Even as we near the end of the year, many industries continue to experience supply chain disruptions, giving rise to concerns about inflation and its impact on the economy.
10. The US Economy’s Recovery
The US economy showed remarkable resilience, ebbing and flowing in the midst of a global pandemic. In 2021, we saw a gradual but robust economic recovery, thanks to a coordinated response from the government and private sector. The Bureau of Economic Analysis revealed that the GDP grew by 2.1%.
In conclusion, 2021 was an eventful year for the business world. From GameStop’s skyrocketing shares to Facebook’s name change, and Tesla’s record-breaking year, businesses experienced ups and downs. However, the year also brought the passing of an infrastructure bill and the promising signs of an economic recovery. As we look forward to 2022, we eagerly anticipate how the business world and its headlines will unfold.
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