Business

Elon Musk’s tweets have once again come under fire from federal regulators. The National Labor Relations Board says that Tesla and its CEO engaged in illegal actions against US employees trying to organize a union. One of those actions was a tweet, now three years old, in which Musk appeared to threaten to revoke employees’

China is slapping massive duties on wine from Australia for the next five years, a move that threatens to deprive the country’s winemakers of their top export market and escalate a trade dispute. The duties, which range from 116% to 218%, were announced Friday and come after an investigation by Chinese authorities found instances of

It took a lot longer than expected, but WeWork is finally set to go public through a merger with a special purpose acquisition company — and at a huge discount to what the startup was once worth. WeWork announced Friday morning that is merging with BowX Acquisition, a blank check firm known as a SPAC,

H&M, Nike and other big Western apparel brands are facing a boycott in China because of the stand they’ve taken against the alleged use of forced labor to produce cotton in the country’s western region of Xinjiang. H&M and Nike said months ago they were concerned about allegations forced labor has been used to produce

One of the world’s most vital trade arteries has been blocked by a quarter-mile-long container ship, creating a traffic jam that has ensnared over 200 vessels and could take weeks to clear. But even before the Ever Given ran aground in the Suez Canal earlier this week, global supply chains were being stretched to the

Purdue Pharma has filed a restructuring plan to dissolve itself and establish a new company dedicated to programs designed to combat the opioid crisis, according to court documents filed Monday. As part of the proposed plan, members of the Sackler family have agreed to pay an additional $4.2 billion over the next nine years to

The company that owns Olive Garden is raising wages in a bid to attract workers. But the move doesn’t go far enough to satisfy critics of a practice common in the restaurant industry. Currently at Darden Restaurants, which owns Longhorn Steakhouse, Cheddar’s Scratch Kitchen and other chains in addition to Olive Garden, all employees are

Meme stocks were back in business Thursday, as investors bought up shares of GameStop, boosting other Reddit-favorite stocks along with it. GameStop soared nearly 53% Thursday, lifted by investors’ hopes that a board overhaul could transform the video game store into a digital-first Amazon competitor. The company announced Tuesday that former Amazon fulfillment chief Jenna

As vaccine eligibility expands across the United States, more companies are offering incentives to get a jab. Many US companies are debating whether to mandate vaccines. Over 70% of current or recent CEOs of major companies said they were open to requiring vaccines, a poll by the Yale Chief Executive Leadership Institute said. “I think

The oil industry’s most powerful lobbying group announced Thursday that for the first time it will support setting a price on carbon, a significant shift that underlines intensifying pressure on Washington and business to tackle the climate crisis. But the devil will clearly be in the details. The American Petroleum Institute laid out a series

Tech stocks have taken a hit lately as investors continue to seek comfort in banks, big oil and other value sectors. But some fans of trendy momentum stocks aren’t giving up on them just yet. That’s the message from Cathie Wood of Ark Invest — who has become one of the more influential voices on

Happy Birthday, stock market bull. One year ago this week, the stock market bottomed out. But since then investors have ridden a giant wave of vaccine progress, epic fiscal stimulus and unprecedented support from the Federal Reserve as trillions of dollars were spent to thwart a pandemic Depression. The S&P 500 has surged a stunning

Some of the biggest names in finance are betting big on the success of Greenwood, the digital banking platform introduced last year by co-founders Ryan Glover and rapper/activist Michael “Killer Mike” Render. The burgeoning fintech startup — named for the early 20th century African-American business district in Tulsa, Oklahoma, that earned the nickname “Black Wall

Former Hewlett-Packard CEO Meg Whitman is joining the board of General Motors, adding another woman to one of the more diverse boards in corporate America. Also joining the board is Mark Tatum, deputy commissioner and chief operating officer of the National Basketball Association, who is both Black and Asian. With their addition to the GM

Tug boats are working to free a large container ship stuck in Egypt’s Suez Canal, halting traffic through one of the busiest and most important waterways in the world. What’s happening: Work continues to clear sand and mud away from the Ever Given, a 224,000-ton vessel that ran aground after 40-knot winds and a sandstorm