Money

Peloton is introducing pricing tiers for its app — and students, health care workers and military members will receive major discounts. The app, which features thousands of instructor-led fitness classes, normally costs $12.99 per month. But in an effort to make its popular digital membership “more inclusive and accessible to a range of professionals and

Online marketplace Etsy announced Wednesday it is expanding into the booming clothing resale space by acquiring Gen Z-focused reseller Depop for $1.63 billion. U.K.-based Depop, which launched in 2011, is an ecommerce marketplace for buying and selling vintage and streetwear fashion. About 90% of its active users are under the age of 26, according to

Massive turnover rates. Dissatisfaction with pay. Demanding bosses. Some workers who helped Amazon take advantage of the business opportunity the pandemic brought say they aren’t pleased. The Covid-19 pandemic and the accompanying lockdowns left many Americans fearful or unable to shop at physical stores. So they turned to online shopping. Amazon purchases ballooned in 2020

Twitter is not caving — yet — to users’ demands for an “edit” button, but it is offering something close: an “undo tweet” option as part of its new subscription service, Twitter Blue, which debuts in Canada and Australia Thursday. The basic service will continue to be free, but for a monthly fee, users can

Climate change poses serious risks to the stability of the financial system, a senior International Monetary Fund official told CNN Business. Tobias Adrian, director of the IMF’s monetary and capital markets department, said the climate crisis could “absolutely” ignite a financial crisis. “The climate crisis is slow in the making, but it’s potentially disastrous,” Adrian

Meme stock mania is back in full force — and this time around, companies are trying to use the hype to their advantage. What’s happening: AMC Entertainment, whose shares have skyrocketed almost 140% this week to an all-time high, is offering investors benefits including a free large popcorn when they go to theaters this summer.

Some of the world’s largest companies are joining forces to accelerate efforts to fight the climate crisis. Amazon, Disney, Google, Microsoft, Netflix, Salesforce, Unilever and Workday launched an alliance Thursday to boost the scale and impact of business investment in climate solutions. The unveiling of the Business Alliance for Scaling Climate Solutions comes as energy

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

Nike and other major sponsors have come out in support of tennis star Naomi Osaka following her decision to withdraw from the French Open. The sports apparel giant — who signed a sponsorship deal with Osaka in 2019 — applauded the athlete in a statement on Monday for opening up about her struggle with depression.

Price are rising quickly across huge swaths of the developed world, with inflation in countries that belong to the Organization for Economic Cooperation and Development surging in April to the highest rate since 2008. Energy price hikes boosted average annual inflation across OECD countries to 3.3% in April, compared with 2.4% in March, the Paris-based

Even as meat producer JBS resumed operations at many of its US beef plants nationwide Wednesday after a cyberattack shut down all beef production at facilities around the nation this week, workers like Erika Gutierres remain worried what the disruption might mean for their paychecks. A single mom, Gutierres works on the killing floor at

ExxonMobil said it expects a third activist shareholder will be elected to its board of directors, following a contentious vote. Votes are still being tallied, and the results remain preliminary. But Exxon acknowledged after its shareholder meeting last week that two of its board seats went to climate activist hedge fund Engine No. 1. On

The US government announced new, suspended tariffs on Wednesday against six countries in response to those governments’ digital services taxes, the office of the US Trade Representative said. The six countries subject to the tariffs, which are set at 25% on about $2 billion worth of goods, include Austria, India, Italy, Spain, Turkey and the

Some shoppers may want to brace themselves for yet another possible supply crunch — this time with meat. Major beef and pork producer JBS USA suffered a cyberattack last weekend, prompting reported shutdowns at company plants in North America and Australia. The White House has said that the ransomware attack was likely carried out by

The hits keep coming. Shares of AMC — the largest movie theater chain in the world — surged more than 120% Wednesday to a new peak above $70 before falling back slightly. Trading of the shares was halted twice due to volatility. The stock closed Wednesday at $62.55, up 95% for the day. The popular

A ransomware attack has disrupted ferry services in Cape Cod, Martha’s Vineyard and Nantucket. The region’s Steamship Authority announced Wednesday on Twitter that it has “been the target of a ransomware attack that is affecting operations” and said passengers might experience service delays. No ferries have been canceled, however, which is good news for travelers

A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Tuesday was the first day since March 2020 that fellow media reporter Oliver Darcy and I sat in the office and called sources and brainstormed stories and swapped info and gossiped and did all those

Ally Bank announced Wednesday that it is eliminating overdraft fees — a key source of revenue for banks but a burdensome charge for customers. “Overdraft fees are a pain point for many consumers but are particularly onerous for some,” Ally Financial CEO Jeffrey Brown said in a press release. “It is time to end them,”