Business

Shares of Facebook's Parent Meta Plunge 22% on Lower Profits

When Meta posted sharply higher costs but gave a weak revenue forecast late Wednesday, investors got spooked

By BARBARA ORTUTAY / AP February 2, 2022

CNN President Jeff Zucker Resigns, Citing Relationship With Co-worker

NEW YORK — CNN President Jeff Zucker abruptly resigned Wednesday after acknowledging a consensual relationship with another network executive — an entanglement that came to light during an investigation of now-fired anchor Chris Cuomo. Zucker...

By DAVID BAUDER / AP February 2, 2022

Thiel-Backed Miner Partners With Bilfinger on Europe's First Lithium Refinery

The agreement is part of a push to supply the region’s shift toward battery-powered cars.

By Eyk Henning / Bloomberg February 2, 2022

Spotify Has a Much Bigger Problem Than Joe Rogan

Spotify has a much bigger problem than Joe Rogan. The streaming service has been in damage control mode, trying to quell the outcry over COVID-19 misinformation spread by Rogan, the wildly popular podcast host. Earlier...

By Joanne Lipman February 1, 2022

How Crypto Investors Are Handling Plunging Prices

Some investors say they're taking a long-term view of the market to weather the storm.

By Megan McCluskey February 1, 2022

Tesla Recall: 'Full Self-Driving' Software Runs Stop Signs

DETROIT — Tesla is recalling nearly 54,000 cars and SUVs because their “Full Self-Driving” software lets them roll through stop signs without coming to a complete halt. Documents posted Tuesday by U.S. safety regulators say...

By TOM KRISHER / AP February 1, 2022

New York Times Buys Wordle for $1 Million+

It will initially remain free to new and existing players, the Times said, raising concerns it may eventually go behind a paywall.

By Gerry Smith/Bloomberg January 31, 2022

The Next Green Must-Have: Showers That Use Recycled Water

High-tech showers are being developed that continuously filter, sterilize and reuse water that would otherwise go down the bathroom drain

By Todd Woody / Bloomberg January 31, 2022

Spotify Will Add Advisories to Podcasts Discussing COVID-19

The streaming service said it was making the move following protests by Neil Young and others over the spread of vaccine misinformation

By JAKE COYLE / AP January 30, 2022

This CEO Is Fighting For His Nonprofit's Mission in New York Federal Court

(To receive weekly emails of conversations with the world’s top CEOs and business decisionmakers, click here.) Millions of Americans face consumer debt lawsuits every year and for many low-income families, getting legal advice is limited....

By Mariah Espada January 30, 2022

How Augmented Reality Shopping Could Go Mainstream

With social commerce sales predicted to soar in coming years, augmented reality experiences have the potential to change the shopping game

By Megan McCluskey January 28, 2022

Liquid Hydrogen: The Green Fuel That Isn't

A debut shipment of liquid hydrogen to Japan proves the fuel is viable, supporters say. Critics aren't so sure

By Amy Gunia January 28, 2022

Wage Growth Notches Record Increase in U.S.

Wages for existing job holders rose a record 5.9%

By Raisa Bruner January 27, 2022

We Can't Blame Stock Market Volatility on COVID-19 Anymore

The global financial community’s herd mentality has helped investors move beyond COVID-19. Now, they’re obsessing over inflation, overvalued share prices and a pending conflict in Ukraine.

By James A. Anderson January 27, 2022

In 2021, the US Economy Grew Faster Than Any Year in Nearly 4 Decades

WASHINGTON — The U.S. economy grew last year at the fastest pace since Ronald Reagan's presidency, bouncing back with resilience from 2020's brief but devastating coronavirus recession. The nation’s gross domestic product — its total...

By PAUL WISEMAN / AP January 27, 2022

Powell Will Take Action to Reduce Inflation as Soon as March

WASHINGTON — The Federal Reserve signaled Wednesday that it plans to begin raising its benchmark interest rate as soon as March, a key step in reversing its pandemic-era low-rate policies that have fueled hiring and...

By CHRISTOPHER RUGABER / AP January 26, 2022

GM Will Invest $7B in Michigan Plants to Make Electric Vehicles and Batteries

LANSING, Mich. — General Motors is making the largest investment in company history in its home state of Michigan, announcing plans to spend nearly $7 billion to convert a factory to make electric pickup trucks...

By DAVID EGGERT and TOM KRISHER / AP January 25, 2022

Dow Drops 1,000 Points to Lowest Level in 10 Months

NEW YORK — The Dow Jones Industrial Average has dropped more than 1,000 points Monday as financial markets buckled in anticipation of inflation-fighting measures from the Federal Reserve and the possibility of conflict between Russia...

By DAMIAN J. TROISE / AP January 24, 2022

Small Businesses Need Help Again. But More Stimulus Could Be Risky

An unexpected jump in new jobless claims the week of Jan. 15 dredged up the kind of bad news that economists fretted had been lurking under the surface of an improving economic picture: The speedy...

January 24, 2022

Cruise Ship Diverts to Bahamas to Avoid Seizure in U.S.

A federal judge in Miami issued an arrest warrant for the ship as part of a lawsuit over millions of dollars in unpaid fuel

By Adriana Gomez Licon/AP January 24, 2022

Sleepy Truckers Get Forgotten in Supply Crisis

Government regulations force drivers off roads to take 10-hour breaks after driving 11 hours, but parking is an issue

By Bloomberg / Gregory Korte January 22, 2022

Bitcoin Has Lost Half Its Value

Bitcoin’s decline from its peak has wiped out more than $600 billion in market value

January 22, 2022

Netflix Stock Plunges After Announcing Low Subscriber Growth and Raising Prices

SAN RAMON, Calif. — Netflix delivered its latest quarter of disappointing subscriber growth during the final three months of last year, a trend that management foresees continuing into the new year as tougher competition is...

By MICHAEL LIEDTKE / AP January 21, 2022

The Brain Drain That Is Killing America's Economy

Each spring I get antsy WhatsApp messages from friends across the U.S., as well as London, Dubai, Hong Kong, and Singapore. Their high school senior kids have just been admitted to colleges in America, Canada,...

By Parag Khanna January 21, 2022

Exclusive: Intel Reveals Plans for Massive New Ohio Factory, Fighting the Chip Shortage Stateside

As part of an effort to regain its position as a leading maker of semiconductors amidst a global chip shortage, Intel is committing $20 billion to build a manufacturing mega-site in New Albany, on the...

By Alana Semuels January 20, 2022

NYC Mayor Adams to Convert First Paycheck to Cryptocurrency

Mayor Eric Adams confirmed his first paycheck—which arrives on Friday—will be converted into Bitcoin and Ethereum

By Yueqi Yang and Shelly Banjo / Bloomberg January 20, 2022

Why Investors Are Buying Virtual Real Estate

A blank square of pixels in a virtual metaverse world like The Sandbox can cost as much as a home in the real world. But investors are buying in

By Raisa Bruner January 20, 2022

Kid of the Year Finalist Lino Marrero, 15, Invented a Shoe That Can Charge a Cell Phone

Lino Marrero was leaving cello practice one day when he noticed several blisters on his fingers. The pain was so bad that the 10-year-old inventor from Frisco, Tx. wanted to quit playing the instrument for...

By Nik Popli January 19, 2022

People Want Business Leaders to ‘Break the Cycle of Distrust’ and Address Societal Issues, According to New Report

After another year marred by the COVID-19 pandemic and rapid spread of disinformation, a new report reveals that business leaders could be key to breaking out of “a vicious cycle of distrust fueled by government...

By Nik Popli January 18, 2022

Verizon and AT&T Are Rolling Out New 5G Networks—But Not Near Major Airports. Here's Why

AT&T and Verizon will postpone new wireless service near some airports planned for this week after the nation's largest airlines said the service would interfere with aircraft technology and cause massive flight disruptions. The companies...

By DAVID KOENIG / AP January 18, 2022

Microsoft Buys 'Call of Duty' and 'Candy Crush' Maker For $68.7 Billion

Microsoft is buying the gaming company Activision Blizzard for $68.7 billion, gaining access to blockbuster games like “Call of Duty" and ”Candy Crush." The all-cash deal will let Microsoft, maker of the Xbox gaming system,...

By Associated Press January 18, 2022

Business Executives Share Why It Can Pay to Do Good

As global leaders discuss how to build a better future in a post-pandemic world, business executives weigh profits and purpose

By Vivienne Walt January 18, 2022

E.U. Demand Threatens Key Ecosystems Around the World: WWF

An official at the WWF’s European Policy Office said ecosystems were being destroyed at "breakneck speed"

By John Ainger / Bloomberg January 17, 2022

Walmart Filings Reveal Plans to Create Crypto and NFTs

The retailer sought several new trademarks in December that show it intends to make and sell virtual goods

By Brendan Case and Susan Decker / Bloomberg January 16, 2022

Bitcoin’s Dominance of Crypto Payments Is Starting to Erode

Last year, Bitcoin’s use at merchants that use BitPay dropped to about 65% of processed payments, down from 92% in 2020

By Olga Kharif / Bloomberg January 16, 2022

Controversial Investment Guru Cathie Wood Wants to Help You Trust the Stock Market Again

(To receive weekly emails of conversations with the world’s top CEOs and business decisionmakers, click here.) Cathie Wood is CEO, CIO and founder of ARK Invest, a closely watched investment fund known for its prescient...

January 16, 2022

Starbucks Staff Can Vote to Unionize at Three More New York Stores, U.S. Labor Official Rules

Starbucks Corp. employees at three more restaurants in New York state will vote on unionization, a U.S. labor official ruled Friday, offering organizers a chance to expand a new labor foothold that’s already inspiring copycat...

By Josh Eidelson and Leslie Patton / Bloomberg January 14, 2022

New Proposed SEC Regulations Could Widen the Wealth Gap

The Securities and Exchange Commission is pushing for significant changes in how private funded companies operate and who can invest in them, the agency said this week. The proposed changes probably won’t benefit rank and...

By Simon Constable January 14, 2022

U.S. Food Prices Are Up. How Monopoly Power Makes this Worse

2021 was a bad year for grocery bills. Shoppers paid 6.4% more for groceries in November 2021 compared to November 2020, according to the consumer price index. All food prices were up a bit more...

By Claire Kelloway January 14, 2022

China’s Trade Surplus Hit Record in 2021

China’s global trade surplus surged to $676.4 billion in 2021, likely the highest ever for any country, as exports jumped 29.9% over a year earlier

By Joe McDonald/AP January 14, 2022

Supreme Court Halts COVID-19 Vaccine Rule for U.S. Businesses

WASHINGTON — The Supreme Court has stopped the Biden administration from enforcing a requirement that employees at large businesses be vaccinated against COVID-19 or undergo weekly testing and wear a mask on the job. At...

By MARK SHERMAN and JESSICA GRESKO / AP January 13, 2022

U.S. Jobless Claims Rise by 23,000 to 230,000

The four-week moving average rose nearly 6,300 to almost 211,000

By PAUL WISEMAN/AP January 13, 2022

Which At-Home COVID-19 Test Should You Use? A Guide

The COVID era has brought us many new experiences: mask-wearing, remote schooling, sheltering in place. The majority of these have been onerous and dreary. It's amazing how energy-sapping it is to just have to wait...

By Belinda Luscombe January 12, 2022

Amazon Workers Will Vote on Unionization by Mail

A federal labor board said that Amazon workers in Bessemer, Alabama, will vote by mail next month in a re-run election to decide whether or not to unionize. The National Labor Relations Board said Tuesday...

By ANNE D'INNOCENZIO/AP January 12, 2022

At CES 2022, Tech Companies Tried to Pitch Climate Sustainability as Fun and Exciting

Between presentations launching new PC processors and candy-colored refrigerators at last week’s CES, companies at the annual tech industry jamboree made a lot of big, flashy proclamations about climate change, some more serious than others,...

By Alejandro de la Garza January 12, 2022

World Bank Cuts Global Growth Forecast Due to COVID-19 Case Surge, Supply Chain Disruptions

Global gross domestic product will probably increase 4.1% this year, less than a 4.3% forecast in June, the report said

By Ana Monteiro and Eric Martin/Bloomberg January 11, 2022

How to Make Sense of the Stock Market's Turbulent Year So Far

Jeff Bezos’s New Superyacht to Force Dismantling of Dutch Bridge

Turkey Faces Rates Impasse as Inflation Hits 20-Year High

Debating 'The Problem With NFTs'

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