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Pinterest and Zoom are set to enter the public market today, with both tech companies pricing their shares above expected ranges. Pinterest, which is listing on the New York Stock Exchange, will price its IPO at $19 per share — above its earlier estimate of $15 to $17, while video conference company Zoom will list on Nasdaq at $36 per share. The two are the latest tech startups to IPO; ride-hailing company Lyft debuted in March and rival Uber is expected to do so shortly. • Here’s what people are saying.
Dozens of U.S. health care professionals have been charged for health care fraud schemes and illegally prescribing narcotics in the latest federal enforcement action addressing the nation’s opioid crisis. The crackdown involves 60 individuals and more than a quarter million illegal prescriptions written in several states. About 130 Americans die each day from an opioid overdose, according to the Centers for Disease Control and Prevention. • Here’s what people are saying.
Amazon is set to leave China’s domestic e-commerce market in July, shutting its third-party online marketplace and cutting seller services on its Chinese website. The company has also been in talks to merge its e-commerce business for goods imported into China with NetEase’s Kaola, a local competitor, The Wall Street Journal reported, citing an anonymous source. Chinese customers will still be able to order from Amazon’s global store. • Here’s what people are saying.
Facebook is working on an Alexa and Siri rival, reports CNBC, citing anonymous sources, with the tech giant’s augmented reality and virtual reality group reportedly beginning to build the tool in early 2018. The move comes as voice assistants and smart speakers grow by double-digit percentage points in the U.S. Amazon currently dominates the market with its Echo device. • Here’s what people are saying.
With baby boomers making up a large portion of current construction workers, the industry is worried about the labor deficit that will occur when they retire. In an effort to attract younger talent, construction companies such as CM Lab Simulations and Caterpillar are using virtual reality simulators during job training to entice those who grew up on video games. • Here’s what people are saying.
Idea of the Day: Work-life balance is about each person setting their own priorities, says Kalaari Managing Director Vani Kola. But companies have a crucial role in this as well.
“Companies are made of people. The onus is on the employee to understand his/her needs and for the leadership to support those needs.”