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“Jeff is not leaving.” That is what Amazon chief financial officer Brian Olsavsky told analysts on the company’s earnings call Tuesday — a call that Bezos wasn’t even on, despite the announcement moments earlier that he would be stepping down as CEO later this year, with Andy Jassy as his successor. (Bezos will remain as

“Jeff is not leaving.” That is what Amazon chief financial officer Brian Olsavsky told analysts on the company’s earnings call Tuesday — a call that Bezos wasn’t even on, despite the announcement moments earlier that he would be stepping down as CEO later this year, with Andy Jassy as his successor. (Bezos will remain as

Ashley Vanderbilt says her four-year-old daughter Emmerson knew “something was wrong with her mom.” “I wasn’t one hundred percent there like I should have been,” she recalls. After November’s election she spent days on TikTok, Facebook, and YouTube becoming indoctrinated into the world of QAnon. By inauguration day, she was convinced that if then President-elect

Ford revealed a redesigned version of its F-150 Raptor high-performance pickup truck Wednesday with a more squared-edged looks and a wider headlight-to-headlight grill. It also comes with a new high-tech suspension that responds almost instantaneously to changing terrain. What it won’t have is a lot more power than the last F-150 Raptor, so Ford is

Critics have slammed Tesla for Model 3 quality issues for years. And now CEO Elon Musk is admitting even his harshest critic was right. In early 2018 engineering consultant Sandy Munro, who tears apart and reverse-engineers cars to assess quality, issued a brutal appraisal of the Model 3 citing “flaws that we would see on

The pandemic is shining a spotlight on America’s inequality problem, but the nation’s economic playing field was far from level long before the virus hit — even as the US job market grew to its strongest point in 50 years. Covid-19 exacerbated the wage, wealth and income inequality that that was already present. Politicians and

The number of Black executives at the very top of the biggest companies on the London Stock Exchange has fallen to zero. There are no Black CEOs, CFOs or chairs in the FTSE 100 index for the first time in six years, according to a study published on Wednesday by Green Park, an executive recruitment

As China sharpens its antitrust crackdown on the country’s massive tech companies, two of the industry’s biggest players are taking the fight to each other. Douyin — the Chinese version of short-form video app TikTok -— sued Tencent on Tuesday, claiming that the Shenzhen-based social media firm has abused its “market dominance” to edge out

Hedge funds, investment bankers and other institutional investors are desperate to find the next GameStop — before it’s too late. That’s why Thinknum Alternative Data quickly built and launched a tool that provides its hedge fund and investment bank clients a ranking of the most-mentioned stocks on WallStreetBets as well as the Stocks subreddit. The

The Federal Aviation Administration said it will oversee an investigation into a crash landing of a SpaceX prototype rocket on Tuesday. The announcement comes after the FAA forced SpaceX to delay the launch as it investigated a previous explosion of a similar rocket prototype. The destroyed vehicle, SpaceX’s Starship SN9, was an early prototype for

Jeff Bezos is stepping down as CEO of Amazon, but investors aren’t too worried about the company’s next steps. What’s happening: Bezos said Tuesday that he’ll move to the role of executive chair later this year. He’ll be replaced by Andy Jassy, who’s worked for Amazon since 1997 and serves as the head of the

Amazon founder Jeff Bezos will step down from his role as chief executive later this year and transition to the role of executive chair, the company said Tuesday. He will be replaced by Andy Jassy. Bezos has been Amazon’s CEO since its founding in 1995. He oversaw its growth from an online bookseller into a

A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. “We are lost,” a Fox News insider remarked to me recently, and there are lots of data points to back up the assertion. Nielsen numbers for the month of January were released on Tuesday, and

No matter what happens next to shares of GameStop and AMC or the price of silver, average Joes and Janes are now an undeniable force to be reckoned with on Wall Street. The short squeeze last week that propelled GameStop and other momentum investments popular with the Reddit crowd now appears to be on hold.

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. Today in business news:What we talk about when we talk about the big squeeze. Plus: the world’s most charming robots, and the end of an era for Amazon. Let’s get into

Amazon has been handed a major legal victory in its fight to block a multibillion-dollar deal between two of India’s biggest retailers. A court in the country’s capital, New Delhi, ruled on Tuesday that an agreement by Reliance Industries to purchase local rival Future Retail for $3.3 billion should be put on hold after Amazon

Amazon’s founder Jeff Bezos is stepping down later this year as CEO. He sent the following email announcing the transition to Amazon employees on Tuesday: Fellow Amazonians: I’m excited to announce that this Q3 I’ll transition to Executive Chair of the Amazon Board and Andy Jassy will become CEO. In the Exec Chair role, I