Amazon shares climbed more than 3% in intraday trading on Wednesday, pushing the company’s market cap past $2 trillion for the first time. In crossing the milestone, Amazon join Nvidia, Apple,…
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Business
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Even while carrying $1.13 trillion in credit card debt, many Americans are still willing to splurge on travel and entertainment. But this summer it will cost even more thanks to “funflation,” a term…
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Volkswagen plans to invest up to $5 billion in electric vehicle startup Rivian, starting with an initial investment of $1 billion. The additional $4 billion is expected by 2026. It includes plans…
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Business
Sixteen Nobel Prize-winning economists warn a second Trump term would ‘reignite’ inflation
by adminSixteen Nobel Prize-winning economists signed a joint letter Tuesday warning of what they see as economic risks if former President Donald Trump were to serve a second term, including reheated inflation. “While each…
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DETROIT (AP) — Tesla is recalling its futuristic new Cybertruck pickup for the fourth time in the U.S. to fix problems with trim pieces that can come loose and front windshield wipers…
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Business
Treasury Secretary Yellen announces $100M affordable housing fund as shelter costs weigh on Biden
by adminTreasury Secretary Janet Yellen on Monday unveiled a new slate of financing initiatives to support housing development, including a $100 million fund specifically for affordable housing. The announcement comes days before President Joe Biden faces off against former…
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Business
21 million Miniverse toy sets recalled after reports of burns and respiratory irritation
by adminMore than 21 million Miniverse “Make It Mini” sets by California toymaker MGA Entertainment are being recalled because of potentially hazardous resins, the Consumer Product Safety Commission reported Tuesday. The…
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Business
How Delta made itself America’s luxury airline — and what United wants to do about it
by adminDelta Air Lines is the country’s most profitable airline. CEO Ed Bastian’s challenge is to make sure his carrier stays on top. The airline’s unit revenue, the amount it brings in…
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Business
Maker of Hershey’s, Jeni’s, and Friendly’s ice cream products issues recall over Listeria
by adminA company responsible for producing ice cream products for several popular brands, including Hershey’s, Jeni’s and Friendly’s, has issued a recall because some of its products may be contaminated with…
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Business
Novo Nordisk to build $4.1 billion North Carolina facility to boost output of Wegovy, Ozempic
by adminNovo Nordisk on Monday said it will spend $4.1 billion to build a new manufacturing plant in Clayton, North Carolina, in a bid to boost the supply of its blockbuster weight loss drug…