Top 5 Business News Events That Shook the World in 2021
2021 has been a year of monumental change and transformation across the globe. The business landscape has been no exception, with events unfolding that have shaken the very core of the industry. In this article, we will look at the top 5 business news events that shook the world in 2021.
1. The GameStop Saga
The GameStop saga was one of the most talked-about stories of 2021. A group of amateur investors, coordinated through the Reddit forum WallStreetBets, rallied together to drive up the stock price of GameStop, a video game retailer. By doing so, they inflicted huge losses on Wall Street hedge funds who had bet against the company. The episode highlighted the power of the retail investor and their ability to disrupt the traditional financial market.
2. The Rise of Cryptocurrencies
The cryptocurrency market experienced a meteoric rise in 2021. Following the pandemic-induced crash of 2020, Bitcoin, the world’s most popular cryptocurrency, saw a surge in value. This triggered a wider adoption of cryptocurrencies as a legitimate asset class, with established companies such as Tesla and PayPal accepting cryptocurrencies as payment. The sudden rise of cryptocurrencies highlighted the growing acceptance and demand for alternative digital currencies.
3. Biden’s Climate Change Plan
The Biden administration announced an ambitious plan to tackle climate change, which has far-reaching implications for businesses across the world. This plan involves a massive investment in green infrastructure and a goal to eliminate carbon emissions from the US power sector by 2035. This shift towards sustainable business practices is not only necessary for the environment but also presents opportunities for businesses to innovate and create new revenue streams.
4. Amazon’s Union Battle
Amazon, one of the world’s largest retailers, was at the center of a fervent unionization battle. Workers at an Amazon warehouse in Alabama voted on whether to form a union. This decision had far-reaching implications for the gig economy, particularly at a time when workers are becoming increasingly concerned about their rights and protections. Ultimately, the workers voted against forming a union, but the episode served as a reminder of the power dynamics between workers and their employers.
5. The Ever Given Suez Canal Blockade
The blockade of the Suez Canal caused mayhem across the global supply chain. The Ever Given, a massive container ship, became stuck in the canal, causing a traffic jam of hundreds of ships on either side. This incident brought attention to the fragility of the global supply chain and exposed the importance of diversifying supply chains to mitigate risk.
In conclusion, 2021 has been a year of unexpected developments and disruptions across the business world. These top 5 business news events highlighted the changing dynamics and challenges that businesses face today. As we move forward into a new year, it is important for businesses to be agile and adapt to the changing landscape.
