Welcome to Fortune Daily—essential reads to help you get ahead today.
October 26, 2021
Over the course of its 17 years in existence, the social networking company has had its share of bad news: when a data firm obtained millions of users’ Facebook data to create voter profiles, when the Federal Trade Commission hit the company with a $5 billion penalty, and its biggest saga to date, the Facebook Papers. Somehow, Facebook shareholders are still a resilient bunch.
After Twitter’s CEO went to his platform to ominously announce that “hyperinflation is going to change everything,” the co-founder and CEO of Ark Invest also took to Twitter, refuting his claims. But, her expectation of deflation goes against many in the market.
The Food and Drug Administration’s expert advisory panel is meeting today to evaluate Pfizer and BioNTech’s request for emergency-use authorization of their COVID-19 vaccine in children ages 5 to 11. Should the FDA follow the panel’s recommendation (which it often does), parents could begin to get their young kids vaccinated in a matter of weeks.
Mastercard will be issuing branded crypto debit and credit cards and enable consumers to buy, sell, and hold digital assets through custodial wallets supported by Bakkt. Mastercard customers will even be able to offer consumers the ability to earn and spend rewards points in cryptocurrency in lieu of loyalty points and convert their crypto to pay for purchases.
KPMG will freeze contributions to the company’s defined pension plans, move away from its 401(k) match, and replace it with a single firm-funded contribution to 401(k) plans—that has no requirement for employees to contribute their own money. The aim? Giving employees more control over their future and money.