Money

Stocks are rallying sharply on Thursday with the Dow gaining some 500 points mid-morning. Worries about sudden spikes in inflation, which weighed on the market at the start of the week, were brushed off in favor of a rebound. The Dow rose 1.5%, or 500 points, while the S&P 500 was up 1.4%. The Nasdaq

McDonald’s is the latest restaurant to say it’s raising wages in a bid to attract workers. The company is increasing hourly employees’ pay by about 10%, it announced Thursday — but the change applies only to a small percentage of staff. Entry-level employees will earn at least $11 to $17 an hour, the company said

McDonald’s is the latest restaurant to say it’s raising wages in a bid to attract workers. The company is increasing hourly employees’ pay by about 10%, it announced Thursday — but the change applies only to a small percentage of staff. Entry-level employees will earn at least $11 to $17 an hour, the company said

The Colonial Pipeline is back in action after a six-day shutdown, but widespread gas station outages in the Southeast could linger for days. Industry executives and government officials warned it will take time to refill gasoline supplies depleted by panic-buying, a truck driver shortage and the ransomware attack on the pipeline. As of 7 a.m.

The price of bitcoin has nosedived after Tesla CEO Elon Musk said his company was suspending plans to accept the cryptocurrency as payment for electric vehicles. Bitcoin was down 12% as of 6:50 a.m. ET on Thursday — bringing the coin’s price down to about $49,300, according to cryptocurrency news website Coindesk. Other digital currencies

Elon Musk’s surprise reversal on accepting bitcoin payments for Tesla cars has triggered a sharp plunge in the cryptocurrency — spelling trouble for other coins that have notched shocking returns in recent months. What’s happening: Bitcoin prices have plummeted about 12% to less than $50,000 in the last 24 hours, according to Coindesk. The decline

As the world grapples with a shortage of semiconductors, South Korea’s chipmakers are spending huge amounts of money to shore up their production in the decade ahead. Samsung and SK Hynix on Thursday announced plans to expand their investments in semiconductors through 2030 by allocating tens billions of dollars of new money to the sector.

The price of bitcoin has taken a nosedive after Tesla CEO Elon Musk said his company was suspending plans to accept the cryptocurrency as payment for electric vehicles. Bitcoin was down around 12% early Thursday morning ET — bringing the coin’s price down to about $50,900, according to cryptocurrency news website Coindesk. Musk cited the

Elon Musk says Tesla is abandoning plans to accept bitcoin as payment for the company’s electric vehicles, citing the cryptocurrency’s high environmental cost after months of being bullish on it. “We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel,”

A new reality TV show called “Unicorn Hunters” borrows the pitch-for-fame-and-fortune concept popularized by “Shark Tank” but adds an unusual twist: It’s not just the judges throwing money at the businesses. Viewers at home can invest, too. The new streaming series — which debuted Monday on its website, YouTube, LinkedIn and Facebook Video — features

Just about everything is getting more expensive in the United States as the stimulus-fueled economy rebounds and Americans are again spending on shopping, traveling and eating out. But the pandemic is far from over, and supply-chain woes mean supply isn’t meeting demand — sending prices even higher. Nearly all major components of the government’s inflation

Gas stations in the southeastern United States faced significant outages Wednesday as the Colonial Pipeline shutdown stretched into a sixth day, sparking panic-buying that has exacerbated the supply crunch. As of 4 pm ET Wednesday, 68% of all gas stations in North Carolina, 45% in Georgia, 49% in Virginia and 45% in South Carolina were

Earlier this year Twitter CEO Jack Dorsey sold a digitally signed copy of his first-ever tweet from 2006 for nearly $3 million. And that could be just the beginning for sales of celebrity non-fungible tokens, or NFTs. That’s according to Cameron Hejazi, CEO of Cent, the company that runs the Valuables site where Dorsey’s tweet

A growing number of gas stations along the East Coast are without fuel as nervous drivers aggressively fill up their tanks following a ransomware attack that shut down the Colonial Pipeline, a critical artery for gasoline. The panic-buying threatens to exacerbate the supply shock. US gasoline demand climbed by 14% on Tuesday compared with the

A devastating ransomware attack on a critical fuel pipeline in the United States has highlighted the growing threat that cyber criminals pose to the world’s largest corporations and strategic infrastructure. It also raises a thorny question: should companies held to ransom yield to extortionists or resist making payments? Often it’s a choice between regaining access

As pandemic restrictions ease, and more people get vaccinated and start returning to offices, some restaurants are seeing lunchtime crowds pick up. But this time, things are a little different. Among the changes restaurant owners have encountered: Boozy lunches getting boozier. Attire that’s less buttoned up. And at least one pandemic-era addition — the partition

About the only thing that hasn’t been hurt by the hacking attack that shut down the Colonial Pipeline? The company’s market value. If it were publicly traded, the Colonial’s stock would undoubtedly have tumbled. But the 59-year-old firm is privately held, with its ownership split among five owners spread across five countries on four continents.