Business

Tesla capped its breakout year with a record profit that still fell short of analysts forecasts, sending its shares lower in after-hours trading. The electric car maker reported fourth quarter adjusted income of $903 million, excluding special items, more than double its earnings a year ago but short of the $1.1 billion forecast by analysts.

Welcome to the Reddit market. A group on Reddit’s Wall Street Bets board have been promoting a number of stocks, hoping to squeeze short sellers that have been betting against them. They’re succeeding. Their best-known bet is GameStop, which rose another 133% Wednesday after nearly doubling Tuesday. It has now soared about 1,700% this year.

The Federal Reserve left interest rates unchanged Wednesday and again stressed it would use its “full range of tools” to support the US economy during the recovery, which has slowed in recent months. Rising Covid-19 infections are weighing on the economy, which still remains far from its pre-pandemic strength. Renewed shutdowns in various states have

President Joe Biden is cracking down on the oil-and-gas industry, but he is not taking the extreme steps the Trump campaign claimed he would last fall. Last week, the Biden administration imposed a 60-day suspension of new oil and gas leasing and drilling permits on federal lands unless the Interior Department’s leaders approved them. Biden

Ben & Jerry’s two co-founders want to make it easier for Americans to sue police officers who abuse their authority, a move that reform advocates say is a key step towards substantive police reform. Ben Cohen and Jerry Greenfield made their views clear during a virtual press conference Tuesday announcing the new campaign to end

Boeing closed the books on its worst year ever, posting record losses and plunging sales on the backs of combined crises: the Covid-19 pandemic and the problems getting the 737 Max back in the air. The company’s loss from operations climbed to $12.8 billion, up from nearly $2 billion a year ago, which was Boeing’s

Ben & Jerry’s two co-founders want to make it easier for Americans to sue police officers who abuse their authority, a move that reform advocates say is a key step towards substantive police reform. Ben Cohen and Jerry Greenfield made their views clear during a virtual press conference Tuesday announcing a new campaign to end

Federal Reserve chair Jerome Powell and his predecessor Janet Yellen, now the first woman to serve as Treasury secretary, are both known for their dovish stances on inflation. That suggests they are unlikely to be in any particular hurry to push for higher interest rates. And with the economy still struggling due to Covid-19, neither

A war of words between the European Union and AstraZeneca escalated on Wednesday as the two sides argued in public over coronavirus vaccine delays that threaten the bloc’s fragile recovery from the pandemic. The dispute began on Monday when EU officials said they had been told by AstraZeneca that the company intended to supply “considerably

Rosalind Brewer will be the next CEO of Walgreens — making her the only Black woman currently slated to take the helm of a Fortune 500 company. Brewer is set to begin on March 15, Walgreens said Tuesday. She currently serves as the chief operating officer at Starbucks, and will remain in the role until

Earnings from some of the biggest US technology companies could push the market to new highs as talk of a stock bubble continues to ripple through Wall Street. What’s happening: Investors who think soaring valuations are grounded in reality point to future profits from the likes of Apple and Facebook, which report results from last

President Joe Biden is cracking down on the oil-and-gas industry, but he is not taking the extreme steps the Trump campaign claimed he would last fall. Last week, the Biden administration imposed a 60-day suspension of new oil and gas leasing and drilling permits on federal lands unless the Interior Department’s leaders approved them. Biden

AstraZeneca is pushing back strongly against criticism from EU officials over delayed deliveries of its Covid-19 vaccine. In an interview with Italian newspaper la Repubblica on Tuesday, AstraZeneca CEO Pascal Soriot said the company had agreed to make its “best effort” to deliver the doses EU countries had ordered but was not contractually committed to

Walmart plans to build automated mini-warehouses in dozens of its stores to speed up customers’ online delivery and curbside pickup orders in a race against Amazon. Walmart announced Wednesday that it will add dozens of 20,000 square-foot to 30,000 square-foot automated fulfillment centers in the coming years, either in the backrooms of its stores or

Goldman Sachs cut chief executive David Solomon’s annual compensation by $10 million, or 36%, following a penalty deduction that resulted from the bank’s role in a corruption scandal involving a Malaysian investment fund, known as 1MDB. Solomon’s compensation package was reduced to $17.5 million for 2020, down from the $27.5 million he received in 2019,

Beyond Meat and PepsiCo are combining forces to develop and distribute snacks and drinks made with plant-based protein as the plant-based trend gains even more traction. With Pepsi, Beyond Meat — which already makes plant-based alternatives to beef and pork — will have access to a global distribution and marketing powerhouse. That means Beyond Meat

Beyond Meat and PepsiCo are combining forces to develop and distribute snacks and drinks made with plant-based protein as the plant-based trend gains even more traction. With Pepsi, Beyond Meat — which already makes plant-based alternatives to beef and pork — will have access to a global distribution and marketing powerhouse. That means Beyond Meat

CBS has suspended two of its top TV executives following a Los Angeles Times investigation that alleged they cultivated a toxic work culture involving racist and misogynistic behavior. Peter Dunn, president of CBS television stations, and David Friend, senior vice president of news for television stations, “have been placed on administrative leave, pending the results