Business news is a subset of journalism that covers the economic and financial activities, changes, trends, and people in the world of commerce. Many newspapers, magazines, radio, and television-news shows include a business section. In terms of online publications, many websites publish business news articles. Some of these websites have a more general scope, while others are more industry-focused. Trade publications also may publish business news.
The history of business coverage traces back to 1700, when Daniel Defoe published his famous novel Robinson Crusoe. Then in 1882 Charles Dow, Edward Jones, and Charles Bergstresser began a wire service that delivered business news to investment houses along Wall Street. And later, muckraking journalist Ida Tarbell’s investigation of the Standard Oil Company prompted Congress to pass the first federal antitrust laws in 1914.
For the most part, though, it was left up to individual journalists and editors to decide what constituted business news. And a good deal of this news focused on companies that were publicly traded. The rise of the Internet and the proliferation of social media have made it possible for a much wider audience to access business news.
What is a business?
A business is an organized enterprise that provides goods or services in exchange for money. It is a major source of economic growth, which stems from an increase in productivity. The goal of most businesses is to maximize profits. This can be accomplished by selling products or services that are in high demand, or by cutting costs through technological advancements and efficient management.
There are many different types of business, including sole proprietorships, corporations, and partnerships. Each has its own advantages and disadvantages, which can be determined by factors such as size, legal structure, and location. A successful business requires a certain level of risk, but it can be very rewarding as well.
The Importance of Business News
Some of the biggest and most influential companies in the world have been involved in scandals involving business practices. These cases often center around issues such as personal greed, insufficient scrutiny of corporate affairs, or an insensitivity to public opinion. While these examples are not typical, they serve as a reminder of the importance of keeping up with business news.
Adam is an editor for Business News Daily, covering small business and entrepreneurship with a focus on marketing and emerging industries, such as legal cannabis and electric vehicles. A New Jersey native and Rutgers University graduate, he has more than 10 years of writing and content marketing experience. He resides in Brooklyn, NY.