Money

By the end of the decade, the only Volvo you’ll be able to purchase will be electric. And you’ll only be able to buy it online. The Chinese-owned carmaker announced plans on Tuesday to stop selling cars that run on fossil fuels by 2030, part of an accelerating trend within the industry to respond to

The pandemic drove Target to a record year of sales growth, as shoppers stocked up at its stores and bought online. Target’s 2020 sales increased 19.8% to $93.6 billion from $78.1 billion last year, the company said Tuesday. Digital sales, which include home delivery and in-store pickup, increased 145%. Target’s sales growth of more than

Reporters Without Borders has filed a criminal complaint in Germany accusing Crown Prince Mohammed bin Salman and other Saudi officials of committing crimes against humanity in the killing of Jamal Khashoggi and the detention of 34 other journalists. The Paris-based media advocacy group said in a statement that it had filed the complaint with a

Amazon has quietly changed the design of its new app icon, replacing the blue ribbon on top that drew some unfavorable comparisons. Users of the Amazon Shopping app will now see a brown box that resembles a parcel with a blue strip that looks like packaging tape above the company’s signature arrow in the shape

Wired, the preeminent tech magazine, has its new leader: Gideon Lichfield of MIT Technology Review is coming on as its global editorial director. Wired’s parent company Condé Nast, which also publishes Vogue, The New Yorker and other popular magazines, announced the appointment Tuesday. He starts on March 22. Lichfield is replacing Nicholas Thompson, who was

Democratic Senator Elizabeth Warren faces an uphill battle persuading Washington to back her tax on ultra-millionaires — starting with convincing her own party’s Treasury Secretary. Janet Yellen, whom Warren praised last year as an “outstanding choice” to lead the Treasury Department, fears a wealth tax would be too messy to implement. “Then Janet and I

The pandemic drove Target to a record year of sales growth, as shoppers stocked up at its stores and bought online. Target’s 2020 sales increased 19.8% to $93.6 billion from $78.1 billion last year, the company said Tuesday. Digital sales, which include home delivery and in-store pickup, increased 145%. Target’s sales growth of more than

For the second time since the the pandemic began, Instacart has doubled its valuation as a privately-held startup. The on-demand grocery delivery service said Tuesday that it is now worth $39 billion after raising $265 million in financing from some of its existing investors. Instacart was previously valued at $17.7 billion in October after raising

The United Kingdom is banking on a rapid vaccine rollout to bring its economy back to life this summer, while the United States is pinning its recovery hopes on another giant stimulus package. Europe won’t have either, and it could be left behind. The European Union’s vaccination campaign has been plagued by manufacturing delays, supply

Two investment firms have agreed to pay a combined $4.2 billion to buy Hertz and take it out of bankruptcy by the early to mid-summer, another sign of growing hopes of a recovery in travel. Hertz, which operates numerous other brands including Dollar and Thrifty, was among the flood of high-profile bankruptcies early in the

One of China’s most powerful financial officials is sounding the alarm over a bubble in global markets. Guo Shuqing, the Communist Party boss at the People’s Bank of China, told reporters in Beijing on Tuesday that confidence in Chinese markets could be hit by volatility around the world. “We are really afraid the bubble for

Earlier this year tensions between ABC News anchors George Stephanopoulos and David Muir boiled over to the point that Stephanopoulos threatened to walk to a rival network, according to sources close to the matter. In an unusual intervention, Disney executive chairman Bob Iger flew across the country to broker peace at ABC News. Iger smoothed

Nordstrom and at-home fitness startup Tonal, which sells a $2,995 smart home gym, have teamed up to launch a handful of Tonal mini shops inside Nordstrom stores. Tonal-branded mini shops will debut in March in 40 Nordstrom locations across 20 states, Nordstrom said on Monday. The 50-square-foot shops will be located in the women’s active

The Dow rallied a little more than 600 points Monday, as US Treasury yields pulled back and took a breather from their recent ascent. All three major stock indexes opened sharply higher and continued their rally as the trading session went on. The Dow ended the day up 2% — its best day since November.