The first month of the year 2021 had several noteworthy news stories that impacted businesses worldwide. From the ongoing pandemic’s effects on the economy to political events and technological advancements, here is a recap of the top business news headlines of January.
Pandemic-related Developments
The start of the year saw a surge in COVID-19 cases across the globe, leading governments to re-impose lockdowns and curfews. While the pandemic had already caused considerable damage to businesses in 2020, several chains declared bankruptcy in January, including Pizza Hut and Express. On the other hand, companies such as Netflix, Amazon, and Zoom continued to surge in popularity, as more and more individuals opted for home entertainment and remote working solutions.
Political Turmoil
January witnessed significant political changes, with Joe Biden being inaugurated as the 46th President of the United States amid increased security measures. In China, the Communist Party’s Central Committee proposed a new five-year economic plan that aims to boost technology and self-sufficiency in key industries. Similarly, in the UK, the government announced a new visa program that would attract high-skilled migrants and entrepreneurs.
Technological Advancements
The tech industry saw several newsworthy developments in January, starting with the historic surge in stock prices of GameStop, driven by a group of individual investors through a Reddit forum. The world’s richest person, Elon Musk, openly supported the cryptocurrency Dogecoin, causing a 50% rise in its value. Meanwhile, Google announced its plans to stop tracking users across the web and replace third-party Cookies with advanced privacy features.
Environmental Concerns
The month of January also highlighted the growing importance of environmental sustainability in businesses worldwide. The new US President signed an executive order that rejoined the Paris climate agreement and reversed several environmental policies of the previous administration. In the automotive industry, General Motors declared its plans to phase out gasoline and diesel engines and shift towards electric vehicles by 2035.
Conclusion
January brought several developments in different industries that will likely have lasting impacts on businesses worldwide. From pandemic-related struggles and political shifts to technological and environmental advancements, companies must stay informed and adapt to these changes to remain competitive in the evolving business landscape.
(Note: Do you have knowledge or insights to share? Unlock new opportunities and expand your reach by joining our authors team. Click Registration to join us and share your expertise with our readers.)