Business

Elon Musk lost tens of billions of dollars last week. He made nearly all of that back in a single day, Tuesday, following a 20% rally in Tesla’s stock. Musk added $25 billion to his net worth yesterday, bringing his total fortune to $174 billion according to Bloomberg Billionaires Index. It’s a stark reversal from

General Electric is selling off its aircraft leasing business, closing the books on its once mighty GE Capital unit, the financial arm of the company that had been its largest business and one of the world’s most dominant financial institutions. GE is selling the aircraft leasing business known as GECAS to rival AerCap, an Ireland-based

Starbucks wants you to buy more of its coffee at the grocery store. So it’s offering up something more on-trend than the bottled Frappucinos of years past. The coffee company’s new line, Cold & Crafted, is available nationally in retail locations on Wednesday. The line is launching with three flavors: Coffee Sweetened Black, Coffee with

Clorox got a huge boost from worried consumers continually wiping down surfaces at home during the height of the pandemic. But now that more people are venturing out of their houses thanks to Covid-19 vaccines, Clorox is evolving its marketing strategy to focus more on businesses. The household products company announced a new initiative Wednesday,

The US economy added 379,000 jobs last month, far more than economists had expected, signaling the labor market recovery is finally gaining steam. The January numbers were also revised sharply higher to 166,000 added jobs versus 49,000 initially reported. The leisure and hospitality industry added the most jobs in February with 355,000 new positions as

The average paycheck for American workers has gotten bigger during the pandemic. Ordinarily that would be cause to jump for joy. But the reason for this increase is grim: Millions of low-income jobs are gone, and that has pushed average pay higher. “When the bottom drops out, the average is different,” Elise Gould, senior economist

The national unemployment rate is masking how much some groups are still struggling in the pandemic economy. That’s why the Federal Reserve looks at more than just the average jobless numbers to determine the nation’s economic health. “When we say maximum employment is a broad and inclusive goal, we don’t only look at the headline

The American job market is nowhere near fixed. Nearly one year into the pandemic, the nation is still down nearly 10 million jobs. Another 745,000 Americans filed for first-time unemployment benefits on a seasonally adjusted basis last week, the Labor Department reported Thursday. It was a slightly smaller number of claims than economists had expected,

GameStop shares climbed rapidly and were halted twice for volatility ahead of the closing bell Wednesday. The gaming retailer’s stock was priced at $91.71 at market close, up nearly 104% from the previous day. Shares were halted once around 3:40pm ET after climbing nearly 74%, and again just over 10 minutes later after gaining 104%.

Michael Bolton wants you to dump Robinhood. In the strangest twist yet in the already bizarre Robinhood saga, Bolton is singing about payment for order flow in a YouTube video published by rival online brokerage Public.com. Set to the tune of his Grammy-winning 1989 hit, “How Am I Supposed to Live Without You,” which Bolton

The US economy fared ever so slightly better in the fourth quarter of 2020 than initially thought. The nation’s gross domestic product grew at an annualized and seasonally adjusted rate of 4.1%, the Commerce Department reported in its second reading of the data on Thursday. That’s up from the annualized and seasonally adjusted 4% growth

US consumer spending jumped at its quickest pace since June as stimulus checks put more cash into Americans’ wallets. Incomes rose 10% in January — the biggest increase since April of last year, when expanded unemployment benefits and stimulus checks from the CARES Act put more cash in American’s wallets, the Commerce Department reported Friday.

Piers Morgan, who prompted a backlash and an investigation from the United Kingdom’s media regulator over his comments about Meghan, Duchess of Sussex, will depart “Good Morning Britain,” ITV abruptly announced Tuesday. “Following discussions with ITV, Piers Morgan has decided now is the time to leave Good Morning Britain,” ITV said in a short statement.

Clorox got a huge boost from worried consumers continually wiping down surfaces at home during the height of the pandemic. But now that more people are venturing out of their houses thanks to Covid-19 vaccines, Clorox is evolving its marketing strategy to focus more on businesses. The household products company announced a new initiative Wednesday,

Television journalist Roger Mudd, who was once Walter Cronkite’s primary substitute at CBS, died Tuesday at his home in Fairfax County, Virginia, his family said. Mudd’s son Jonathan told CNN his father died of complications related to kidney failure. He was 93 years old. Mudd began his television career in the 1950s in Richmond, Virginia,