Business

White House press secretary Jen Psaki said Friday that one of her deputies, TJ Ducklo, had been suspended for one week without pay after a Vanity Fair story revealed Ducklo had threatened a reporter who was working on a story about his romantic relationship with another reporter. “This in our view was an important step

Bitcoin’s big week got bigger with an announcement from rapper Jay Z and Twitter CEO Jack Dorsey that the pair are establishing a bitcoin development fund. Dorsey tweeted the news Friday, writing that they are taking applications for a “blind irrevocable trust” focused on Africa and India. He promises the fund will have “zero direction”

For a CEO who receives no salary, Elon Musk’s 2020 payday reached sky-high levels. He received four grants to buy 8.4 million Tesla shares in 2020. After paying the exercise price, those blocks of stock options were each worth $6.2 billion at Wednesday’s closing price. The combined $24.8 billion value of those options alone is

Revolut is on a mission to build a global digital bank. The British company is already one of Europe’s biggest fintechs. Now Revolut is setting its sights on a bigger prize: America. Valued at $5.5 billion, Revolut has more than 15 million customers around the world and last spring it quietly entered the US market.

The UK chairman of accounting firm KPMG is resigning after he told staff in a meeting to stop complaining about the pandemic and said that there was “no such thing as unconscious bias.” In a video of the meeting published by the Daily Mail, Bill Michael can be seen telling employees they “are in a

American households making less than $75,000 are feeling especially pessimistic about their financial futures, despite promises of more federal stimulus measures in the coming months, according to the latest University of Michigan’s consumer sentiment survey. That’s a bad sign for the broader US economy, which runs on consumer spending. And it further underscores the gap

The UK economy suffered its biggest slump in more than three centuries last year, with GDP falling by nearly 10% over the course of 2020. That means the Covid-19 pandemic has effectively wiped out all growth in the United Kingdom over the last 7 years, returning the economy close to the size it was in

Ken Goldin has sold sports trading cards for four decades. What happened earlier this month still shocked him. In early February, a Michael Jordan rookie basketball card in pristine condition sold for a record $738,000 at an auction run by Goldin’s company. The kicker? The exact same item went for nearly $215,000 just weeks before.

If you’ve shopped at Walmart recently, you may have noticed more employees snaking through aisles, carrying blue tote bins and picking items off shelves to be delivered, either curbside at stores or to customers’ homes. The employees are called personal shoppers — and their ranks are skyrocketing. Walmart says it now has more than 170,000

Disney kicked off its 2021 fiscal year much as it spent most of 2020, with the pandemic hammering many of its businesses. But Disney+ continues to be the star of the company. Disney’s revenue came in at $16.2 billion, which was down 22% from last year, the company said during its first quarter earnings on

The Grape-Nuts shortage that ground an already on-edge nation to a halt has been resolved. Grape-Nuts will start shipping at normal levels by mid-March, its parent company Post Consumer Brands said Thursday, putting an end to a weeks-long shortage sparked by supply chain constraints and higher demand. “We promised our loyal fans that we would

In an apparent tit for tat move, BBC World News has been banned from airing in China, according to a statement from China’s National Radio and Television Administration (NRTA) on Thursday. The announcement comes one week after Ofcom, the British media regulator, said it had withdrawn a license for China Global Television Network, or CGTN,

Gawker Media made history five years ago for being the first digital news company to ratify a union contract, kicking off a wave of labor organizing at digital outlets that has yet to recede. On Thursday, staffers at the online publishing platform Medium announced their intention to unionize, following in the footsteps of Gawker, HuffPost,

After their son’s death, Dan and Dorothy Kearns said they were horrified to learn that their panicked 20-year-old repeatedly tried and failed to get in touch with Robinhood about his negative account balance of $730,000. College student Alex Kearns mistakenly believed he owed that staggering sum of money and took his own life last June

It’s been a chaotic few years for Mr. Peanut, who died in early 2020 and was reborn as a baby nut as part of a Super Bowl ad campaign. Now he has a new home: Kraft is selling Planters to Hormel, the maker of Spam and Skippy, in a $3.35 billion deal. The sale, which