Money

Investors breathed a huge sigh of relief following the May jobs report Friday. Stocks rallied as the numbers told a classic Goldilocksian, not too hot or too cold, story about the state of the economy. The Dow gained 180 points, or 0.5%, and is now only about 1% off its all-time high. The S&P 500

Facebook announced Friday that former President Donald Trump would be suspended from its platform until at least January 7th, 2023 — two years from when he was initially suspended. Facebook said it will then assess the circumstances to see if he should be allowed back on. The move guarantees Trump won’t be able to post

People are paying higher prices for everything from diapers to gas. One discount chain says that’s great for its business. Five Below, the toy, game, room decoration and tech accessory store that sells most of its stuff for — as its name suggests — under $5, expects budget-conscious consumers will increasingly turn to discount stores

One Wall Street analyst has had it with the whole meme stock phenomenon. Curtis Nagle, who covers retailers for Bank of America, is giving up trying to figure out what’s next for GameStop and Bed Bath & Beyond. Nagle wrote in two reports late Thursday that he’s suspending coverage of GameStop and that he now

Americans are gearing up for a celebratory summer by buying more lipstick, dressy clothing and condoms. And bars are ready to greet them. During the pandemic, bars faced strict restrictions. Along with restaurants, they were ordered to close their doors for months. When they started to reopen, curfews were set in place, and distancing rules

America’s job market recovery picked up some steam in May, with 559,000 positions added back to the economy. It was a second sizable miss of analyst expectations after a big disappointment in April. Economists had predicted 650,000 jobs added in May. The unemployment rate fell to 5.8%, the Bureau of Labor Statistics reported Friday. This

The number of African Americans serving on boards of directors for the nation’s largest corporations has remained dismally low this year despite the ongoing movement to increase C-suite diversity throughout the business world. Some of America’s most prominent companies are addressing the problem by backing the Black Boardroom Initiative, a new program unveiled Wednesday with

The price of bitcoin sank on Friday after Elon Musk appeared to lament the end of his relationship with the cryptocurrency. The Tesla CEO tweeted a meme about a couple breaking up along with the bitcoin hashtag and a broken heart emoji. The post included lyrics from a song by rock band Linkin Park titled

Facebook on Friday plans to announce new rules for world leaders who use its platform that could limit what politicians can get away with posting, a source familiar with the plan told CNN Business. The change comes after Facebook took the unprecedented step of suspending then-President Donald Trump from its platforms in January. Politicians have

Facebook on Friday plans to announce new rules for world leaders who use its platform, a source familiar with the plan tells CNN Business, in a move that could limit what politicians can get away with posting. The change comes after Facebook took the unprecedented step of suspending then President Donald Trump from its platforms

Facebook is confronting two separate antitrust investigations by European regulators that will probe whether the social network’s use of data gives it an unfair advantage in online advertising. The investigations could eventually result in hefty fines, and increase pressure on Facebook to make changes to its business model, which is already the focus of a

The jobs recovery has slowed since last year’s buoyant rebound. And now a summer lull may be upon us before the return to in-person schooling in September allows more people to return to work. Parents — especially mothers — have been hit hard by the pandemic as they juggled caring for children and simultaneously working

Federal Reserve Chairman Jerome Powell acknowledged serious risks the climate crisis poses to the world economy and called for a coordinated response that is led in the United States by elected officials. “There is no doubt that climate change poses profound challenges for the global economy and certainly the financial system,” Powell said Friday while

From Wall Street to Washington, everyone is waiting for the latest US jobs report. What’s happening: The US Labor Department releases data for May on Friday. Economists polled by Refinitiv predict another 650,000 jobs were added to the economy. That would be up sharply from the 266,000 jobs added in April, a shock disappointment that

A major gas pipeline. Dozens of government agencies. A Florida city’s water supply. And now, one of the world’s top meat producers. The last few months have seen a sharp rise in cyberattacks, often disrupting products and services that are key to our everyday lives. Many of those attacks have used ransomware, a set of

President Joe Biden has expanded a Trump-era ban on American investment in dozens of Chinese firms that Washington believes are linked to China’s military. Biden signed an executive order Thursday that prohibits Americans from owning or trading any securities tied to 59 companies, citing the threat of Chinese surveillance technology. The original order, signed by

United Airlines announced a deal to buy 15 supersonic jets, planning to carry passengers on the ultra-fast planes by 2029. If the airline can follow through with its plan, these would be the first commercial supersonic flights since the grounding of the Concorde jet in 2003. The economics of that fuel-guzzling supersonic jet and restrictions