Business

President Joe Biden’s $1.9 trillion economic rescue is so massive that economists are marking up their growth forecasts for not just this year, but next as well. Goldman Sachs predicts the US economy will rebound sharply from the pandemic, registering China-like GDP growth of 7% on a full-year basis in 2021. That would be the

Experts have made clear that they don’t expect economies around the world to bounce back from the Covid-19 shock at the same speed. But developments this week underscore the risk that Europe could fall even further behind the United States and China. What’s happening: Countries across Europe — including Spain, Germany, France and Italy —

After more than a year of health restrictions putting a crimp on in-person dating, Tinder says it’s gearing up for one of the “flirtiest years of our lives.” With that in mind, it’s giving away free Covid-19 tests to encourage safe dating. The dating app is giving 500 couples who match on Tinder a free

Cathie Wood of ARK Invest has become one of the top investment voices on Wall Street over the past few years, thanks to big bets on Tesla, Square, Roku and other momentum stocks. But investors need an iron-cast stomach to deal with the recent gut-wrenching volatility in her company’s ARK exchange-traded funds. The ARK Innovation

Americans shopped less in February, leading retail sales to fall 3% on a seasonally adjusted basis, the Census Bureau reported Tuesday. It was a much steeper drop than the 0.5% decline economists had predicted, according to Refinitiv. Bad weather across many states were part of the reason sales declined last month. But the data is

Experts have made clear that they don’t expect economies around the world to bounce back from the Covid-19 shock at the same speed. But developments this week underscore the risk that Europe could fall even further behind the United States and China. What’s happening: Countries across Europe — including Spain, Germany, France and Italy —

Move over, SpaceX and Instacart: Payments processing company Stripe is now the most valuable startup in America. Stripe announced Sunday a new $600 million round of funding at a valuation of $95 billion, nearly tripling its last valuation of $36 billion. The new funding vaults Stripe ahead of Instacart, which recently raised new financing at

Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. Tonight: Elon Musk has declared himself the “Technoking of Tesla;” the US has a new most valuable startup; and if your stimulus check is “pending” in your bank account, you aren’t

A computer chip shortage has long been dogging the auto industry — and now, it will mean added costs at the gas pump for buyers of some General Motors pickup trucks. GM said Monday it will build some versions of the Chevrolet Silverado and the GMC Sierra without a fuel management module that improves mileage

US airline stocks rose Monday after a number of carriers reported strong demand for seats from leisure travelers. Speaking at an investor conference held Monday by JPMorgan, executives from American Airlines, United, Delta and JetBlue all reported strong bookings going into the traditional spring-break period, and several said they’re also selling a growing number of

Volkswagen has unveiled a massive expansion of battery production as it seeks to gain an edge in the electric car race. The German carmaker said Monday that it plans to build six “gigafactories” in Europe by 2030 with a total production capacity of 240 gigawatt hours per year. That’s enough to power almost 4 million

Big banks face competition from startup challengers on fees, apps and direct deposits. During the Covid era, that battle is expanding to which company can pay out stimulus checks the fastest. Big-bank customers complained over the weekend about how their $1,400 stimulus payments were still pending in their bank accounts. Those payments may not arrive

Recent stock market volatility is once again showcasing the virtues of a balanced portfolio. Some experts have been warning for a while that the spectacular run for top tech stocks — one that has lifted the Nasdaq and S&P 500 over the past few years — would have to end eventually. And now, the investors

“Tucker Carlson is the new Donald Trump,” CNN’s Chief Media Correspondent Brian Stelter said on “Reliable Sources” Sunday. Carlson is practically the face of Fox News, as he hosts the top show on the network. With Republicans out of power in the White House and Congress, Stelter argues that Carlson has filled the void Trump