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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

Big banks face competition from startup challengers on fees, apps and direct deposits. During the Covid era, that battle is expanding to which company can pay out stimulus checks the fastest. Big-bank customers complained over the weekend about how their $1,400 stimulus payments were still pending in their bank accounts. Those payments may not arrive

America’s Black women hold more than 90% less wealth than American White men, Goldman Sachs revealed in a new report Tuesday. In response, Goldman announced on Wednesday it will invest $10 billion into areas that will impact the lives of one million Black women by 2030. Goldman will partner with Black women-led organizations and institutions

Recent stock market volatility is once again showcasing the virtues of a balanced portfolio. Some experts have been warning for a while that the spectacular run for top tech stocks — one that has lifted the Nasdaq and S&P 500 over the past few years — would have to end eventually. And now, the investors

“Tucker Carlson is the new Donald Trump,” CNN’s Chief Media Correspondent Brian Stelter said on “Reliable Sources” Sunday. Carlson is practically the face of Fox News, as he hosts the top show on the network. With Republicans out of power in the White House and Congress, Stelter argues that Carlson has filled the void Trump

More than a decade on from its release, “Avatar” is once again the highest-grossing film of all time — after reclaiming the coveted title from Marvel’s “Avengers: Endgame”. James Cameron’s 2009 science fiction blockbuster, starring Zoe Zaldana, Sam Worthington and Sigourney Weaver, managed the impressive feat over the weekend after it was re-released in China.

Former Starbucks executive Rosalind “Roz” Brewer assumed her new role as CEO of Walgreens on Monday, officially making her the only Black woman currently serving as the head of a Fortune 500 company and just the third in history to achieve the career milestone. Former Xerox chief executive Ursula Burns became the first in 2007