Money

A hedge fund that’s criticized ExxonMobil’s climate strategy won enough shareholder support to oust two directors from the oil giant’s board, a major loss for the once-mighty company. For the first time in modern history, America’s largest oil company faced a credible challenge from an activist investor, Engine No. 1. Upset with Exxon’s financial performance

Ford is doubling down on electric vehicle development, announcing Wednesday it will invest $30 billion in electrification efforts by 2025. The automaker also pledged that 40% of its vehicles sold by 2030 will be electric. Ford had previously announced plans to spend $22 billion on electrification efforts and had recently revealed plans to build two

MGM, a classic Hollywood brand synonymous with “The Wizard of Oz” and Leo the roaring lion, was purchased for $8.45 billion on Wednesday by Amazon, a company currently valued at nearly $1.7 trillion. Being gobbled up by a tech behemoth is a fitting finale for a studio that has been whittled down over the last

Shares of Walgreens, CVS and Rite Aid dropped Wednesday following a report that Amazon is considering opening brick-and-mortar pharmacies in the United States. Walgreens dropped 4%, CVS fell 2% and Rite Aid was off 3% during mid-morning trading. Business Insider reported early Wednesday that Amazon is eying opening physical stores in a “handful” of locations,

WhatsApp has sued the Indian government in a bid to block new rules it says would lead to “mass surveillance” by forcing social media platforms to hand over private information about their users. The company confirmed Wednesday that such a complaint has been filed with the Delhi High Court. CNN Business has asked for a

Fans eager for the “BTS Meal” at McDonald’s will be excited to hear that collaboration goes beyond nuggets. McDonald’s is dropping a limited-edition merchandise line Wednesday that is inspired by group’s purple colors and fast food chain’s logo. The collection is a “perfect representation of an iconic partnership between two fan-favorite brands,” the fast food

Ford is doubling down on electric vehicle development, announcing Wednesday it will invest $30 billion in electrification efforts by 2025. The automaker also pledged that 40% of its vehicles sold by 2030 will be electric. Ford had previously announced plans to spend $22 billion on electrification efforts and had recently revealed plans to build two

A leading newspaper in Japan that is sponsoring the Olympic Games in July has published an editorial calling for the event to be canceled as the country remains in the grip of the pandemic. Asahi Shimbun accused Prime Minister Yoshihide Suga of holding the Olympics “against the will of the public” in its editorial on

ExxonMobil’s response to the climate crisis could very well be decided on Wednesday. For the first time in modern history, America’s largest oil company is facing a credible challenge from an activist investor. Upset with Exxon’s financial performance and its foot-dragging on the climate, hedge fund Engine No. 1 is seeking to oust four directors

“F9” star John Cena has professed his love for China after calling Taiwan a “country” during an interview that generated a backlash among fans in Hollywood’s most important international market. The controversy unfolded after Cena — who plays the brother of Vin Diesel’s Dom Toretto in the ninth installment of the popular “Fast & Furious”

An American journalist working in Myanmar was detained by local authorities Monday, his family and his news organization told CNN. Danny Fenster, 37, was stopped at the Yangon airport as he tried to board a flight out of the country, his brother Bryan Fenster said. Fenster, a US citizen originally from Detroit, Michigan, works for

Americans making summer vacation plans are about to find airfare costs are near or even above pre-pandemic levels, according to the nation’s major airlines. Executives from most of the major carriers said the recovery in domestic leisure travel is already here. That means yields, which measure how much passengers pay for every mile traveled, are

Americans making summer vacation plans are about to find airfare costs are near or even above pre-pandemic levels, according to the nation’s major airlines. Executives from most of the major carriers said the recovery in domestic leisure travel is already here. That means yields, which measure how much passengers pay for every mile traveled, are

More than 100 employees at the Associated Press have signed an open letter calling for more information about the recent firing of 22-year-old journalist Emily Wilder. Wilder’s ouster, and the newswire’s lack of candor about its cause, has caused a rare uproar inside the storied news organization. Monday’s open letter said the lack of communication