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President Joe Biden’s $1.9 trillion economic rescue is so massive that economists are marking up their growth forecasts for not just this year, but next as well. Goldman Sachs predicts the US economy will rebound sharply from the pandemic, registering China-like GDP growth of 7% on a full-year basis in 2021. That would be the

Experts have made clear that they don’t expect economies around the world to bounce back from the Covid-19 shock at the same speed. But developments this week underscore the risk that Europe could fall even further behind the United States and China. What’s happening: Countries across Europe — including Spain, Germany, France and Italy —

After more than a year of health restrictions putting a crimp on in-person dating, Tinder says it’s gearing up for one of the “flirtiest years of our lives.” With that in mind, it’s giving away free Covid-19 tests to encourage safe dating. The dating app is giving 500 couples who match on Tinder a free

Cathie Wood of ARK Invest has become one of the top investment voices on Wall Street over the past few years, thanks to big bets on Tesla, Square, Roku and other momentum stocks. But investors need an iron-cast stomach to deal with the recent gut-wrenching volatility in her company’s ARK exchange-traded funds. The ARK Innovation

Americans shopped less in February, leading retail sales to fall 3% on a seasonally adjusted basis, the Census Bureau reported Tuesday. It was a much steeper drop than the 0.5% decline economists had predicted, according to Refinitiv. Bad weather across many states were part of the reason sales declined last month. But the data is

Experts have made clear that they don’t expect economies around the world to bounce back from the Covid-19 shock at the same speed. But developments this week underscore the risk that Europe could fall even further behind the United States and China. What’s happening: Countries across Europe — including Spain, Germany, France and Italy —

Chinese President Xi Jinping called on the country’s regulators this week to step up their crackdown on tech companies and extend scrutiny to all areas of financial activity. Xi stressed the need to regulate “platform” companies to maintain social stability during a meeting of China’s leaders on Monday, according to state-owned Xinhua News Agency. The

Nokia will slash the size of its workforce over the next two years to free up money to invest in its 5G networks business. The Finnish telecommunications group said in a statement on Tuesday that it will cut between 5,000 and 10,000 jobs, or 11% of its workforce, over the next 18 to 24 months.

Move over, SpaceX and Instacart: Payments processing company Stripe is now the most valuable startup in America. Stripe announced Sunday a new $600 million round of funding at a valuation of $95 billion, nearly tripling its last valuation of $36 billion. The new funding vaults Stripe ahead of Instacart, which recently raised new financing at

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. Tonight: Elon Musk has declared himself the “Technoking of Tesla;” the US has a new most valuable startup; and if your stimulus check is “pending” in your bank account, you aren’t

Elon Musk is not your typical CEO. Now he has a new title to prove it. In a filing with his least favorite regulator, the Securities and Exchange Commission, on Monday, Tesla disclosed that Musk is adding the title of “Technoking of Tesla.” It also said that Chief Financial Officer Zach Kirkhorn had taken on

Microsoft says its workplace communication platform, Teams, and other Microsoft 365 services should be returning to normal after an earlier software update issue caused outages for many users. Microsoft said Monday afternoon that users may be unable to access Microsoft 365, Azure and Dynamics 365 services, including Microsoft Teams, Forms, Exchange Online email and others.

A computer chip shortage has long been dogging the auto industry — and now, it will mean added costs at the gas pump for buyers of some General Motors pickup trucks. GM said Monday it will build some versions of the Chevrolet Silverado and the GMC Sierra without a fuel management module that improves mileage

US airline stocks rose Monday after a number of carriers reported strong demand for seats from leisure travelers. Speaking at an investor conference held Monday by JPMorgan, executives from American Airlines, United, Delta and JetBlue all reported strong bookings going into the traditional spring-break period, and several said they’re also selling a growing number of

Volkswagen has unveiled a massive expansion of battery production as it seeks to gain an edge in the electric car race. The German carmaker said Monday that it plans to build six “gigafactories” in Europe by 2030 with a total production capacity of 240 gigawatt hours per year. That’s enough to power almost 4 million