Business

Jeff Bezos has reclaimed his title of world’s richest person, ending Elon Musk’s roughly six-week reign atop the list. Musk lost about $4.5 billion Tuesday after Tesla shares fell 2.4%, which was enough to knock him to second place on the Bloomberg Billionaires Index ranking. Bezos’ net worth also fell as the broader stock market

It appears that Warren Buffett is souring on the financial sector’s prospects, and that the Oracle of Omaha also has a newfound interest in Big Oil, as well as telecom and media. He also bought stakes in Dow components Chevron and Verizon in the fourth quarter of last year. Buffett’s Berkshire Hathaway on Tuesday disclosed

Marriott International’s president and CEO Arne Sorenson died Monday following a nearly two-year battle with pancreatic cancer, the hotel chain announced Tuesday. The company announced two weeks ago that Sorenson was reducing his work schedule to continue cancer treatment, though it called his death “unexpected” in Tuesday’s press release. Sorenson was diagnosed with stage 2

SpaceX delivered its 19th large batch of Starlink internet satellites into orbit on Monday evening, but in a rare misstep, the first-stage rocket booster used to launch those satellites missed its landing target. The failed landing was the first time in about a year that SpaceX has lost one of its Falcon 9 rocket boosters,

Ford is shutting its Kansas City assembly plant, which makes its best-selling F-150 pickup, because of a shortage of natural gas caused by severe winter weather hitting much of the country. “To ensure we minimize our use of natural gas that is critical to heat people’s homes, we decided to cancel operations for a week,

Chinese cinemas are back in business and selling even more tickets than before the pandemic. Local box office takings over the start of the Lunar New Year holiday have already surpassed those of the same period in 2019, despite some restrictions on theater occupancy. The increase gives China another lift after it overtook the United

Adidas says it will offload struggling US fitness brand Reebok as part of a strategic overhaul. The German sportswear company said in a statement on Tuesday that it has decided to begin a formal process “aimed at divesting Reebok” following a review of the business that it announced late last year. “Reebok and Adidas will

At this point, there’s nothing particularly special about a fast food chain announcing a new fried chicken sandwich. So, McDonald’s is hoping to differentiate the upcoming launch of theirs with limited edition collection of clothing and music. McDonald’s will sell a limited number of $5 swag packages via a special website on Thursday. The swag

Bitcoin topped $50,000 Tuesday, continuing a stunning rise that has sent it soaring about $20,000 this year. The digital currency hit a record $50,602.53 before pulling back somewhat. Bitcoin is still up about 2% over the past 24 hours, and has rallied nearly 260% since the beginning of November. Investors have sent the price of

The carmakers at the heart of Germany’s huge manufacturing industry are facing a new threat: border checks that could delay crucial parts deliveries and force their factories to close. Truck drivers have experienced lengthy delays after Germany introduced stronger Covid-19 checks and immigration rules at its borders with Austria, the Czech Republic and Slovakia on

Move over, Robinhood, here comes Goldman Sachs. The prestigious investment bank, known mainly for advising the affluent how to manage their money and for helping to engineer big deals on Wall Street, unveiled a new robo-adviser Tuesday for the average investor. Marcus Invest, an offshoot of the company’s Marcus retail banking arm, will let Goldman

Breaking off a piece of that vegan KitKat bar is now a reality. Nestlé is launching a non-dairy version of the popular candy bar, called KitKat V. The Swiss company is jumping on the the plant-based alternative food trend. Nestlé promises the new candy still has the “perfect balance between crispy wafer and smooth chocolate.”

Wall Street is expecting the economy to come roaring back to life in the second half of this year. But there’s one crucial question: Are Americans ready to spend the savings they’ve stashed away during the pandemic? What’s happening: In a note to clients this week, Goldman Sachs strategists estimated that Americans are sitting on

Elon Musk wants to have a conversation with Vladimir Putin on his new favorite social media app: Clubhouse. On Saturday, the Tesla CEO tagged the Kremlin’s official account to ask if the Russian president would like to join him in a conversation on the audio-only app. “Would you like join me for a conversation on

HBO Max will feature many big movies this year — all of Warner Bros.’ 2021 film slate, in fact. However, one of the biggest movies hitting the new service isn’t from 2021. It’s not even new; it’s a fresh take on a film from four years ago. On Sunday, the service released the latest trailer

Tesla’s $1.5 billion investment in bitcoin has helped legitimize the cryptocurrency as an investment, leading analysts and traders to ask which blue chip company will be the next to take the plunge, buying bitcoin for its corporate balance sheet. Wall Street analysts have peppered executives at other high-profile companies about possible bitcoin forays during recent