Business

Robinhood raised $1 billion from existing investors just hours after it halted purchases of GameStop, suggesting the free-trading app faced a potential cash shortage. The startup faced a bipartisan backlash Thursday for its decision to limit trading — a move that ran counter to its stated mission of democratizing investing. “This is a strong sign

A longtime Fox News politics editor, who was fired by the network earlier this month after angering former President Donald Trump, rebuked the current state of American media and skewered right-wing propagandists in a candid opinion piece published Thursday. Chris Stirewalt, who drew scorn from Trump and his supporters after calling the state of Arizona

ABC News president James Goldston, who has led the network news division for the past seven years, is stepping down at the end of March. Goldston announced the decision in an internal memo on Thursday afternoon. “I’ve decided this is the right moment to move on as this incredible era of news ends and another

To meet the demand for Amanda Gorman’s unreleased books, her publisher announced it will print one million copies of each of her three titles. Gorman 22, turned heads and stole hearts when she delivered a powerful inauguration poem at the US Capitol on January 20, challenging Americans to unify and “leave behind a country better

The last time Southwest Airlines posted an annual loss was 1972, when it was a small upstart airline flying a handful of planes on Texas-only routes. Since then, it has grown to become the nation’s fourth largest airline, reporting 47 consecutive profitable years while its largest rivals flew into and out of bankruptcy during the

Commerzbank plans to slash its workforce by 10,000 and close 340 branches by 2024 as part of a strategic overhaul. The bank has roughly 48,500 employees around the world. But it indicated in a statement on Thursday that its home market would be heavily affected, with one out of every three jobs in Germany being

America has been the king of the box office for, well, forever. Not anymore. In 2020, China overtook the United States to become the top movie market in the world. The country, perennially the second-largest movie market, brought in $3.1 billion at the box office in 2020, according to Comscore — nearly $1 billion more

McDonald’s US sales popped in the fourth quarter as guests spent more per order, but international sales took a hit from lockdowns related to Covid-19. The company said Thursday that sales at US restaurants open at least a year rose 5.5% in the three months ending on December 31. It said its marketing investments, especially

The US economy grew at an annualized and seasonally adjusted rate of 4% in the fourth quarter of 2020, just as economists had predicted, the Commerce Department reported Thursday. But that didn’t make up for a bad first quarter and an historically awful second quarter. For 2020 as a whole, GDP decreased by 3.5% from

America’s unemployment crisis is now President Joe Biden’s problem, and jobless claims in his (partial) first week as president show how far the economy has to go to get back to normal. Another 847,000 Americans filed for first-time unemployment benefits last week on a seasonally adjusted basis, according to the Department of Labor. It was

The European Union has been locked in a very public and acrimonious fight with AstraZeneca over vaccine delays. The temperature may have cooled slightly after a meeting late Wednesday, which both sides said was constructive, but the problem hasn’t been fixed yet and the stakes for EU countries are high. These are the battle lines:

So much for what goes up must come down. GameStop continued to defy gravity Thursday. Shares soared another 30% in premarket trading thanks to massive support from individual investors on Reddit. GameStop shares are now up nearly 2,500% this year — surging from just under $20 at the end of 2020 to a current price

Chipotle is testing curbside pickup at 29 locations in California to give customers a way to get their tacos and burritos without having to go inside restaurants. Here’s how it works: Customers who order from participating restaurants through the Chipotle app will see a “curbside pickup” option before they check out. Once the order is

Toyota is back on top. The Japanese company has reclaimed its place as the world’s best-selling automaker, with its latest results showing an edge over Volkswagen Group. Toyota sold 9.5 million vehicles around the world in 2020, according to figures released on Thursday that include its Daihatsu and Hino lineups. That’s compared with the 9.3

Netflix has just claimed its biggest hit ever with “Bridgerton,” a drama set in Britain in the early 1800s. Some 82 million households watched the drama, based on novels by Julia Quinn, in its first 28 days, Netflix said in a statement on Wednesday. The company also claims that the show has “made the top

A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Mark Zuckerberg built one of the world’s most powerful — if not the most powerful — radicalization engines in history. For years and years, his platform has algorithmically pushed people into ideological political bubbles and

The GameStop frenzy on Wall Street has investors, and much of the internet, enraptured — not unlike a good horror movie. Everyone knows doom is just around the corner for some key players; a lucky few will emerge stronger; and the monster might be subdued but will ultimately come back for a sequel. The cast