Peloton recall to cost company $165 million in lost sales
Peloton is estimating its treadmill recall will cost the company about $165 million in lost revenue during the the current quarter, and result in a…
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Facebook told to investigate its role in insurrection
Facebook’s independent oversight board on Wednesday upheld the company’s decision to suspend former President Donald Trump. But one of…
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Biden’s Wall Street cop is putting Robinhood on notice
Gary Gensler, the newly installed chairman of the Securities and Exchange Commission, put Robinhood and Citadel Securities on notice Thursday about a…
Continue Reading Major Tesla investor dumps a big chunk of shares
A major shareholder in Tesla has become bearish about the company. Scottish fund manager Baillie Gifford & Co. sold 11.1 million shares of Tesla…
Continue Reading IBM says it has created the world’s smallest and most powerful microchip
The semiconductor industry’s constant challenge is to make microchips that are smaller, faster, more powerful and more energy efficient —…
Continue Reading Jamie Dimon calls Biden’s tax hike plan ‘a little crazy’
Several top business leaders have backed President Joe Biden’s plan to raise taxes on large corporations and the wealthy and spend more on…
Continue Reading Nearly 1 in 3 new stores opening in the US is a Dollar General
Three dollar store chains will make up almost half of all the new stores opening up in the United States this year, a reflection of the dollar store…
Continue Reading A look at Bill and Melinda Gates’ enormous lakefront home
News of the Bill and Melinda Gates’ divorce ricocheted around the world this week, raising a number of questions: What, why? What about the…
Continue Reading Steel prices have tripled. Now Bank of America is sounding the alarm
A bubble could be brewing in steel stocks. The pandemic brought the American steel industry to its knees last spring, forcing manufacturers to shut…
Continue Reading The head of Yale’s massive endowment fund has died
David Swensen, the long-time chief investment officer at Yale University and a legend in the world of college endowments, died Wednesday at the age…
Continue Reading Applebee’s shorter menu is here to stay. Here’s what got cut
Last year, when Applebee’s sales took a hit in the pandemic, the chain slimmed down its menu. Now its sales are recovering, but…
Continue Reading Jen Psaki says she talked with the Biden transition team about a roughly one-year term
A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. In a pair of new…
Continue Reading Uber is losing less money. But it still faces one big risk
The pandemic has been a tough time to be in the business of shuttling people from Point A to Point B. For months, government rules and fears about…
Continue Reading Dollar stores make up almost half of all new stores opening this year
Three dollar store chains will make up almost half of all the new stores opening up in the United States this year, a reflection of the dollar store…
Continue Reading One of the world’s top restaurants is ditching meat. Here’s what could go wrong
Earlier this week, Eleven Madison Park’s chef and owner Daniel Humm made an unexpected announcement: When the famed New York City restaurant…
Continue Reading We’re recovering from ‘the Game of Thrones period of our history:’ Jen Psaki talks about the transition and her role
A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. In a pair of new…
Continue Reading Rio Tinto shareholders rebel over destruction of sacred Indigenous caves
Rio Tinto shareholders have rebelled over payouts to former CEO Jean-Sébastien Jacques and other executives who quit last year after the company…
Continue Reading This crypto claims to solve bitcoin’s biggest problem
Bitcoin may be the king of cryptocurrencies, but it’s facing an environmental backlash over the energy-intensive technology underpinning it. A…
Continue Reading Tucker Carlson’s Fox News colleagues call out his dangerous anti-vaccination rhetoric
Some of Tucker Carlson’s colleagues at Fox News are objecting to his reckless anti-vaccination rhetoric. They are speaking out in small ways on…
Continue Reading China can’t stop talking about the Bill and Melinda Gates divorce
The divorce of Bill and Melinda Gates has sent shockwaves through China, where the Microsoft co-founder has achieved a level of fame unlike almost…
Continue Reading New homes cost $36,000 more because of an epic shortage of lumber
As the pandemic crushed the US economy last spring, sawmills shut down lumber production to brace for a housing slump. The slump never arrived and…
Continue Reading I tracked my kid with Apple’s Airtags to test its privacy features
I clipped a keychain with one of Apple’s tiny new Bluetooth trackers, AirTags, onto my son’s book bag and waved goodbye to him on the…
Continue Reading Gary Vaynerchuk: NFT is the next Amazon
Serial entrepreneur Gary Vaynerchuk is selling a new use case for NFT: “Smart event” tokens that have real value rather than digital art.…
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El Paso tourism restarting, leaders hope border restrictions lifted by summer
EL PASO, Texas (KVIA) — Travel and tourism is picking up as more people are getting vaccinated. Despite border restrictions still in place,…
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Success! SpaceX lands Mars rocket prototype for 1st time in Texas
BOCA CHICA, Texas — SpaceX just launched another test flight of an early Mars rocket prototype at its South Texas facility, sending the…
Continue Reading Google backtracks on office returns and will allow employees to work remotely
Google is expanding its options for when, where and how often employees return to the office. The company’s workers around the world can…
Continue Reading Dell lays out its plans for the future
Dell imagines a future in which businesses are faster, smarter and better. The tech company is building a “world where we see wide-scale…
Continue Reading New York Daily News makes a plea for local ownership as hedge fund takeover looms
The latest plea for a break-up of Tribune Publishing’s newspapers is coming from inside the pages of a Tribune publication. In…
Continue Reading Republicans and right-wing media use Facebook Oversight Board’s Trump decision to claim bias
Prominent Republicans and right-wing media organizations on Wednesday cited a decision to affirm Facebook’s suspension of former President…
Continue Reading As subscriber growth slows, The New York Times reveals 100 million registered users
The New York Times has a new statistic about its reach: The site has more than 100 million registered users. The number of users implies that at…
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