Money

The Federal Reserve suffered a widespread disruption in multiple payment services Wednesday, including a system that banks and businesses rely on to zip trillions of dollars around the financial system each day. After experiencing problems for several hours, the crucial payment system, known as Fedwire, resumed normal operations shortly before 3 p.m. ET, according to

Geely has scrapped plans to merge its business with Volvo and will now focus its global ambitions on a joint venture with the Swedish carmaker on connected cars. China’s largest independent automaker already owns Volvo and operates the Swedish firm as a separate company. But about a year ago, Geely said that it was considering

Three of Britain’s biggest banks have announced plans to dump expensive office space, a bet that remote work is here to stay even after the pandemic ends. HSBC said Tuesday that it plans to cut its global real estate footprint by 40% “over the next several years,” part of a broader plan to slash costs

Australia has passed a new law that will force tech companies to pay publishers for news content, setting the stage for potential, similar action in other countries. The new code, which the Australian parliament approved Thursday, “will ensure that news media businesses are fairly remunerated for the content they generate,” Australian Treasurer Josh Frydenberg said

After a wild several weeks for GameStop, the retailer’s chief financial officer is resigning. The company announced Tuesday that Jim Bell, its executive vice president and CFO, will resign from his roles on March 26. GameStop has started searching for a new CFO “with the capabilities and qualifications to help accelerate GameStop’s transformation,” it said,

Do you read the following headline from CNN Business and get a little nervous? Housing market concerns begin to emerge If the answer is yes, you’re probably among the group that includes homeowners and investors — and whose frustration with the pandemic has more to do with the way Covid is affecting the way you

Over the last year, the worldwide web has started to look less worldwide. Europe is floating regulation that could impose temporary bans on US tech companies that violate its laws. The United States was on the verge of banning TikTok and WeChat, though the new Biden administration is rethinking that move. India, which did ban

Few things have changed less during the course of this century than this nation’s fleet of postal delivery vehicles. The squat, box-like van (OK, let’s just call them what they are–ugly) have a steering wheel on the right to make it easier for drivers to reach out and put mail in curbside mail boxes. They

Fry’s Electronics suddenly closed all of its stores overnight, ending a nearly four-decade run in business. The company, which had 31 stores across nine US states, said in a statement on its website that it “made the difficult decision to shut down its operations and close its business permanently” because of changing consumer shopping habits

TJ Maxx has taken a hit from the pandemic with fewer people visiting stores and picking up clothing. But the discount giant is betting that customers will re-emerge once they get the Covid-19 vaccine and “revenge” shop to make up for the lost year. TJX, the owner of discount chains TJ Maxx and Marshalls, said

TJMaxx has taken a hit from the pandemic with fewer people visiting stores and picking up clothing. But the discount giant is betting that customers will re-emerge once they get the Covid-19 vaccine and “revenge” shop to make up for the lost year. TJX, the owner of discount chains TJMaxx and Marshalls, said Wednesday that

The Federal Reserve is suffering a disruption in multiple payment services due to an operational error, the central bank said in a statement Wednesday. The Fed’s website indicates a service disruption for almost all of its payment services, and a spokesman confirmed these outages are ongoing and include Fedwire. Banks, businesses and government agencies rely

Lyft is adding an option to allow people to order a ride in a more retro way — by phone call — a year after Uber tried doing the same before shutting it down. The ride-hail company said Wednesday it launched a special service in dozens of Florida cities to allow people to call a

Dunkin’ is certainly appeasing avocado-craving millennials with its new menu item. Beginning Wednesday, the chain has added avocado toast to its menu at all US locations. Dunkin’ said the $2.99 item features a “creamy, mouthwatering avocado spread” consisting of avocado, sea salt, black pepper and a hint of lemon juice. The spread is placed atop

California’s net neutrality law can go into effect after a federal judge on Tuesday handed a defeat to broadband providers who had pushed to overturn the law. Industry groups had asked the US District Court for the Eastern District of California to issue a preliminary injunction blocking the legislation, but the groups’ request was denied.