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Janet Yellen, President-elect Joe Biden’s pick for Treasury secretary, urged Congress during her confirmation hearing Tuesday to move swiftly on bold stimulus spending to relieve the economic suffering that the pandemic has caused. Yellen, who would be the first female Treasury secretary in American history, underscored the urgency of Biden’s proposed $1.9 trillion stimulus proposal.

A growing number of large US chains are offering their workers incentives to get Covid-19 vaccines. Grocery chain Aldi said Tuesday that it will provide its hourly workers with two hours of pay for each vaccine dose they receive, giving workers up to four hours total of paid time off. Aldi also said it will

Walmart CEO Doug McMillon lamented Tuesday that the baseless claims of a stolen election pushed by President Donald Trump and his allies have further inflamed America at a time of peril. “We all find ourselves in the midst of concurrent health, economic and racial equity crises as well as facing the reality of an electorate

Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. In today’s business news: There’s a new top cop on Wall Street, the rise of the fake commute and Parler makes a reappearance. WELCOME, SHERIFF GARY Joe Biden just announced a new

Tesla has begun rolling out locally made Model Y crossover vehicles in China, reaching an important milestone in the world’s largest auto market. The electric carmaker announced the news on Twitter on Monday, releasing photos of the SUV being purchased from a company showroom. The Model Y is the second vehicle Tesla has made and

China and Australia spent much of last year in a tense standoff on trade. But as the recovery of the world’s second largest economy gathers pace, China needs more iron ore and Australia is still its main supplier. Beijing on Monday reported that China’s GDP grew 2.3% last year, averting the recession that gripped much

At the University of Vermont Medical Center in October, a cyberattack knocked out 5,000 computers on the hospital’s IT network, disrupting everything from its financial systems to its radiology services and sleep studies. Patient care ground to a halt — and the outage lasted for weeks. “We really did not anticipate the scope or the

Goldman Sachs, one of the largest investment banks on Wall Street, reported results for the fourth quarter that easily topped analysts’ expectations Tuesday morning. It’s yet another sign of the disconnect between the strength of the stock market and the struggles many average Americans face due to the coronavirus pandemic. Shares of Goldman Sachs fell

MGM Resorts International is walking away from an attempt to buy the owner of British gambling brand Ladbrokes after its $11 billion bid was rejected. The US casino group said in a statement Tuesday that it would not make a firm offer for Ladbrokes owner Entain, following “careful consideration” and “limited recent engagement.” MGM made

When a mob of rioters overran barriers and broke into the Capitol on January 6, some of them boasted about their exploits on livestreams as thousands of followers watched in real time. As they marched through hallways and ransacked lawmakers’ offices, they offered a play-by-play of their actions on YouTube, Facebook and other platforms as

FedEx has announced plans to slash up to 6,300 jobs in Europe. The delivery company said in a statement on Tuesday that it would reduce its European workforce by between 5,500 and 6,300 as it completes the integration of TNT Express. FedEx said the cost of the severance benefits could total as much as $575

Janet Yellen, President-elect Joe Biden’s pick for Treasury secretary, struck a bipartisan tone at her confirmation hearing Tuesday, urging Congress to move swiftly on bold stimulus spending while acknowledging the implications for America’s debt burden. Yellen, who would be the first female Treasury secretary in American history, underscored the urgency of Biden’s proposed $1.9 trillion

Leaders from some of the nation’s top historically Black colleges and universities are meeting virtually with Google CEO Sundar Pichai next week to discuss the future of their schools’ relationships with the tech giant in the wake of racism and sexism allegations made by two Black former employees. In December, ex-Google artificial intelligence researcher Timnit

Janet Yellen, President-elect Joe Biden’s pick for Treasury secretary and former head of the Federal Reserve, is headed to Capitol Hill Tuesday for her confirmation hearing. Yellen, who would be the first women to hold this office, is expected to call lawmakers to action to sign off on more pandemic stimulus to get the economy

Janet Yellen, the former chair of the Federal Reserve and President-elect Joe Biden’s pick to lead the Treasury Department, faces a huge task ahead. What’s happening: Not only does Yellen have to shepherd efforts to bring the US economy back from its sharpest contraction on record — she must also convince Congress to get on

Janet Yellen, the former chair of the Federal Reserve and President-elect Joe Biden’s pick to lead the Treasury Department, faces a huge task ahead. What’s happening: Not only does Yellen have to shepherd efforts to bring the US economy back from its sharpest contraction on record — she must also convince Congress to get on

Scottish fishermen parked their trucks near UK Prime Minister Boris Johnson’s office at 10 Downing Street on Monday to protest post-Brexit red tape they say has made it almost impossible to sell British seafood to the European Union. Many of them drove several hours from Scotland, where the fishing industry is in crisis because paperwork

Amazon wants India to play a key role in its ambitions to conquer streaming video. But the company now faces a political backlash over one of its new original shows. Authorities are looking into claims that Amazon’s new Prime Video series “Tandav” includes religiously insensitive content. Several Indian politicians say they have complained to the

A new sheriff is coming to Wall Street — and, for a change, he’s not a friendly face. In a win for Elizabeth Warren and progressives, President-elect Joe Biden announced Monday he is tapping Gary Gensler to lead the Securities and Exchange Commission. Gensler made few friends, and plenty of enemies, during his time as