Money

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

Facebook posts promoting violence during inauguration week have circulated on the platform over the past week despite a crackdown by the social media giant since the January 6 insurrection, a tech watchdog group found. “Patriots January 20, 2021 is your Tiananmen Square moment!!!” one post in a private pro-Trump Facebook group read. “We need to

Janet Yellen, President-elect Joe Biden’s nominee for Treasury secretary, is expected to urge lawmakers to “act big” on relief spending during her confirmation hearing Tuesday, underscoring the urgency and scope of the incoming administration’s $1.9 trillion stimulus package. “Neither the President-elect, nor I, propose this relief package without an appreciation for the country’s debt burden,”

Facebook COO Sheryl Sandberg is rightfully being criticized for claiming that the US Capitol riots were “largely organized” on other social media platforms “that don’t have our abilities to stop hate and don’t have our standards and don’t have our transparency.” Despite her attempts to deflect blame, Facebook as well as other social media companies

Joe Biden last week proposed a $1.9 trillion stimulus bill, part of a historically ambitious plan to combat an economic crisis. But many economists and business leaders agree that no amount of government assistance to individuals and small businesses can fix the economy until the underlying cause of the problems — the Covid-19 pandemic —

Ford has ordered a month-long production halt at one of its plants in Germany, the latest sign that a global shortage of computer chips is putting carmakers under increasing pressure and threatening their recovery from the pandemic. The US automaker said it would idle its factory in Saarlouis, Germany, from Monday until February 19 because

It’s report card season for Corporate America. Companies are starting to release their earnings for the fourth quarter of last year, and so far it doesn’t look like many blue chip stocks are going to get a passing grade. There’s good news though: 2021 is likely to be a lot better. Big banks JPMorgan Chase,

Apple, along with Amazon and Google, effectively kicked Parler off the internet in the wake of the January 6 US Capitol siege. Despite criticism that Big Tech wields too much power over speech, Apple CEO Tim Cook defended his decision. “We looked at the incitement to violence that was on there,” Cook told Chris Wallace

The US government is warning that groups could rely on radio equipment as an alternative to social media to plan future criminal activities. In a stark warning Sunday, the Federal Communications Commission’s enforcement bureau said people coordinating or conducting criminal activity over radio waves are breaking the law. “The Bureau has become aware of discussions

A 70-foot rocket, riding beneath the wing of a retrofitted Boeing 747 aircraft, detached from the plane and fired itself into Earth’s orbit on Sunday — marking the first successful launch for the California-based rocket startup Virgin Orbit. Virgin Orbit’s 747, nicknamed Cosmic Girl, took off from California around 10:30 am PT with the rocket,

China’s economy grew more than expected last year, even as the rest of the world was upended by the coronavirus pandemic. The world’s second largest economy expanded 2.3% in 2020 compared to a year earlier, according to government statistics released Monday. It’s China’s slowest annual growth rate in decades — not since 1976 has the

Samsung vice chairman Lee Jae-yong is going back to prison, casting the future of leadership at the massive tech company in doubt. The Seoul High Court in South Korea sentenced Lee to 2 1/2 years behind bars on Monday after finding him guilty of embezzlement and bribery. He was taken into custody following the verdict.

Parler’s website suddenly reappeared online Sunday afternoon with a message from its CEO, John Matze: “Hello world, is this thing on?” The message, dated January 16, implies that the social network popular with members of the far right has found a new online hosting platform, after Parler was booted from Amazon Web Services on January

When Costco opened its first store in China in 2019, it wasn’t just the hot rotisserie chickens and discounted Birkin bags that lured frenzied crowds. A fiery, throat-tingling liquor called Kweichow Moutai also flew off shelves. At 1,498 yuan, or $209 for a half-liter bottle, it might not sound like the kind of bargain Costco