Business

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

Critics have slammed Tesla for Model 3 quality issues for years. And now CEO Elon Musk is admitting even his harshest critic was right. In early 2018 engineering consultant Sandy Munro, who tears apart and reverse-engineers cars to assess quality, issued a brutal appraisal of the Model 3 citing “flaws that we would see on

The pandemic is shining a spotlight on America’s inequality problem, but the nation’s economic playing field was far from level long before the virus hit — even as the US job market grew to its strongest point in 50 years. Covid-19 exacerbated the wage, wealth and income inequality that that was already present. Politicians and

The number of Black executives at the very top of the biggest companies on the London Stock Exchange has fallen to zero. There are no Black CEOs, CFOs or chairs in the FTSE 100 index for the first time in six years, according to a study published on Wednesday by Green Park, an executive recruitment

Hedge funds, investment bankers and other institutional investors are desperate to find the next GameStop — before it’s too late. That’s why Thinknum Alternative Data quickly built and launched a tool that provides its hedge fund and investment bank clients a ranking of the most-mentioned stocks on WallStreetBets as well as the Stocks subreddit. The

Jeff Bezos is stepping down as CEO of Amazon, but investors aren’t too worried about the company’s next steps. What’s happening: Bezos said Tuesday that he’ll move to the role of executive chair later this year. He’ll be replaced by Andy Jassy, who’s worked for Amazon since 1997 and serves as the head of the

A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. “We are lost,” a Fox News insider remarked to me recently, and there are lots of data points to back up the assertion. Nielsen numbers for the month of January were released on Tuesday, and

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. Today in business news:What we talk about when we talk about the big squeeze. Plus: the world’s most charming robots, and the end of an era for Amazon. Let’s get into

Amazon’s founder Jeff Bezos is stepping down later this year as CEO. He sent the following email announcing the transition to Amazon employees on Tuesday: Fellow Amazonians: I’m excited to announce that this Q3 I’ll transition to Executive Chair of the Amazon Board and Andy Jassy will become CEO. In the Exec Chair role, I

Wall Street surged for a second day in a row as GameStop mania appears to be calming down. Reddit’s favorite stock fell 60% Tuesday, adding to Monday’s sizable losses. Hedge funds on Wall Street are catching a break from the short squeeze that ensued after retail investors rapidly pushed up the share price of GameStop,

Pfizer expects to earn approximately $15 billion in revenue from its Covid-19 vaccine this year, the company said Tuesday. Its fourth-quarter earnings report was the first since Pfizer’s Covid-19 vaccine received emergency-use authorization from the US Food and Drug Administration in December — the first vaccine to receive such approval. Since then, the vaccine, developed

Tesla is recalling 135,000 Tesla Model S sedans and Model X SUVs because their large center touchscreens can fail. Tesla had previously objected to a push to issue a recall from regulators, as it claimed that the problem wasn’t a safety issue. The recall applies to some 2012 through 2018 Model S and 2016 through

UPS is celebrating Black History Month with a special design on Express delivery packages, part of a campaign to support Black-owned small businesses. It’s the first time UPS has commissioned art for any of its delivery boxes, and the design was created by 25-year-old Sophia Yeshi, a graphic illustrator who is Black and southeast Asian

The number of employed Americans won’t return to its pre-pandemic level until 2024, but the broad economy is expected to fully recover by the middle of this year, according to a Congressional Budget Office report issued Monday. The projection shows just how long the job market still has to go to heal after suffering the

ExxonMobil lost $22.4 billion in 2020, its first annual loss since the 1999 merger that created the nation’s largest oil company. It’s the latest company to report its worst year on record during the Covid-19 pandemic. The fossil fuel industry has suffered from a plunge in oil prices as stay-at-home orders around both the nation

Senator Elizabeth Warren is demanding answers from Robinhood co-CEO Vlad Tenev over potential conflicts of interest caused by the free trading app’s relationship with large hedge funds and other financial players. In a letter obtained by CNN Business, the Massachusetts Democrat called out Robinhood for “abruptly changing the rules” on individual investors last week by

Last year was looking like a record breaker for Chris Wiseheart’s transport company in Prague. Wiseheart, originally from Detroit, had built the business over nearly two decades from an airport shuttle service to a chauffeur outfit sought out by the crews behind music’s biggest names. Think Madonna, AC/DC and Metallica. He was gearing up to