Money

GameStop shares have gone ballistic this year, surging more than 800% thanks to love from Reddit fans betting on a turnaround for the video game retailer. Now, GameStop has cashed in with a sale of more than $550 million in stock. Shares of GameStop rose about 5% Tuesday on the news of the stock sale.

There’s no end in sight for the ongoing love affair between Crocs, the maker of the often-mocked foam clog, and comfort-seeking consumers. On Tuesday, Crocs reported that sales surged 64% in its first quarter, to $460 million. The company also raised its 2021 sales forecast, saying it now expects revenue for the year to increase

NBA Top Shot is the hottest NFT marketplace on the planet. It’s also got a big problem: Customers are complaining about exceptionally long wait times to get paid from sales of digital tokens that can often cost hundreds of thousands of dollars. NBA Top Shot is the online marketplace where investors can spend hundreds to

Rupert Murdoch has officially scrapped plans to launch a TV news channel in the United Kingdom. In a note to employees Tuesday, Murdoch’s News UK said that it had determined that such a channel didn’t make sense financially following a review by US network veteran David Rhodes. “We determined early on in that review that

“I remember the punched-in-the-gut feeling I had the moment I learned that a young male reporter with just a few years of experience had nearly the exact same salary that I had, despite my two decades as a working journalist.” “Some reporters with advanced degrees earn less than $20 per hour. How are people supposed

There may not be a bigger promoter of the idea that humanity should go to Mars than Elon Musk. But Musk is once again in the news for admitting, though not for the first time, the truth about his dream: “A bunch of people probably will die” in the process. Musk made the comments during

Losses caused by the collapse of US hedge fund Archegos have topped $10 billion. Swiss bank UBS revealed on Tuesday that it lost $774 million from last month’s implosion of Archegos Capital Management, a bigger hit than many analysts expected. The announcement came as Japan’s Nomura said it would book losses of $2.9 billion from

Beyond Meat is replacing its signature plant-based burger with a version designed to taste more like animal beef. The newest recipe, which will eventually replace the current product, removes mung beans — a protein-rich legume — from the ingredient list and adds some vitamins and minerals to make the product taste meatier and more closely

Amazon’s Fire Kids tablets have long been popular among younger users, but now the company is targeting older kids with a brand-new lineup. Amazon announced on Tuesday that it will debut a Fire Kids Pro tablet aimed for users ages 6 to 12. Its existing Fire Kids models are intended for kids ages 3 to

Tesla just posted record quarterly profits, with one measure of earnings passing the $1 billion mark for the first time. But in order to justify its sky-high stock price, the automaker will need to overcome a growing list of challenges. What’s happening: A global chip shortage is snarling production, while the business environment in China,

Apple rolled out a major privacy feature on Monday that will allow iOS users to decide how they want their personal data handled — a move that has worried some companies, including Facebook. iOS users must now give explicit permission for apps to track their behavior and sell their personal data, such as age, location,

Tesla posted record profits Monday — its third record quarter in a row — as its adjusted earnings reached the $1 billion mark for the first time. The company recorded $9 billion in total revenue. That was slightly lower than fourth quarter sales but up 75% from the year-earlier period. Revenue was partly held back

Hiromi spent most of her life feeling trapped. Growing up, the now 58-year-old Japanese acupuncturist felt pressure to conform to Japan’s rules-based society, and to become a model worker and wife. She married young and had three children, but later divorced and says she still struggles to make ends meet. “I’m sure some Japanese people

Emergent BioSolutions’ stock lost more than half of its value since the disclosure that it ruined as many as 15 million doses of Johnson & Johnson’s Covid-19 vaccine at its Baltimore plant. But the company’s CEO dumped more than $11 million worth of stock ahead of the stock’s massive decline. Johnson & Johnson announced on

Epicurious is changing up its diet to help fight climate change. The online food publication announced Monday that it has “cut out” beef: The ingredient will no longer appear in new recipes, articles, newsletters or social media posts. The move is meant to be “pro-planet,” because beef production creates large quantities of greenhouse gas emissions,