Business

Virtually all of the world’s major automakers are shifting to an all-electric future — and that’s as much about the bottom line as it is the environment. Volkswagen plans to launch roughly 70 pure electric models by 2030 and has already overtaken Tesla in electric vehicle sales in many European markets. General Motors said last

Cryptocurrency dogecoin has an important fan — Elon Musk, who has 45 million followers on Twitter and more money than any other person on the planet. A series of tweets Musk sent overnight sent the Bitcoin rival up more than 50% in trading Thursday. The first in a series of tweets was only one word:

Robinhood CEO Vlad Tenev is not licensed by FINRA, Wall Street’s powerful self-regulator, even though he presides over one of the nation’s largest and most powerful online brokers. ​ Tenev has emerged as the public face of Robinhood as the startup has come under fire for its decision​, on one of the market’s most volatile

Snail noodles, marinated steaks and huge vats of bubble tea are helping China’s biggest fast food giant get through the coronavirus crisis. Yum China, the local owner of KFC, Pizza Hut and Taco Bell, is tapping into new ways to reach customers at home as the pandemic continues to dampen its business. The company, which

Deutsche Bank has made an annual net profit for the first time since 2014 thanks to a bumper year in a business it has scaled back. Germany’s largest lender on Thursday reported profit of €113 million ($135.6 million) for 2020, compared to a loss of €5.7 billion ($6.8 billion) the previous year. The last time

A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. The prevailing news about Covid-19 was so bleak for so long. But the facts have changed — faster, perhaps, than the major news narratives have changed. The vaccines are showing “spectacular” results, to borrow a

Netflix has amassed some 200 million subscribers and cemented its status as the king of streaming video. Now it’s looking to run up the score with a big push into Asia, its fastest-growing region. The entertainment giant added 9.3 million paid subscribers in Asia Pacific last year, a 65% jump compared to 2019. Revenue in

McKinsey & Company, one of the world’s largest consulting firms, will pay $573 million in a multistate settlement for its work with opioid companies. McKinsey reached the agreement with a coalition of 47 attorneys general, the District of Columbia and five US territories. The settlement, announced Thursday, “resolves investigations by the attorneys general into the

The New York Times’ goal of attracting 10 million subscribers by 2025 is very much within reach thanks in part to readers who have flocked to the paper’s coverage of last year’s most seismic events. On Thursday, the Times reported that it now has 7.5 million total subscriptions across digital and print. It added 2.3

A question consumed CNN employees recently: Was the company’s president, Jeff Zucker, going to leave after the presidential inauguration? Zucker came quite close to exiting, according to associates, but decided to stay on. He told employees on Thursday morning that he will remain with CNN’s parent, WarnerMedia, through the end of the year. “The truth

As vaccinations pick up speed and Covid-19 cases fall from their recent peak, economic data out of the United States looks increasingly promising. What’s happening: The Services PMI from the Institute for Supply Management, which uses surveys to track economic activity in the sector, just posted its highest reading in almost two years. “It was

Merck CEO Kenneth Frazier, who is currently one of the few Black CEOs of a Fortune 500 company, is retiring in June, ending a nearly 30-year run with the company. The pharmaceutical giant announced the change Thursday, naming Chief Financial Officer Robert Davis as its new leader effective July 1. Frazier has served as Merck’s

Robinhood CEO Vlad Tenev is not licensed by FINRA, Wall Street’s powerful self-regulator, even though he presides over one of the nation’s largest and most powerful online brokers. ​ Tenev has emerged as the public face of Robinhood as the startup has come under fire for its decision​, on one of the market’s most volatile

The Capitol Hill insurrection and the inauguration of a Democratic president who campaigned on strengthening gun control measures helped the firearms industry set a January gun sales record last month, according to data released Monday. Gun merchants sold more than 2 million firearms in January, a 75% increase over the estimated 1.2 million guns sold

After a pandemic break, Peeps are back in production for Easter. Candy maker Just Born Quality Confections announced Wednesday that the sugary treats are returning to shelves just in time for the holiday, after a nine-month hiatus because of the pandemic. Just Born decided in April to stop production to protect employees’ health as the