Money

A giant chunk of the internet briefly broke on Tuesday because of an outage at a company most people have probably never heard of before. Reddit, CNN, Target, Amazon, a UK government website and countless others all went dark after a technical issue at cloud service provider Fastly. Although the outage was short-lived, it served

Facebook is giving its employees more flexibility to work outside the office — and Mark Zuckerberg is leading by example. The Facebook CEO told employees in a memo Wednesday that he plans to work remotely for at least half of the next year, a company spokesperson confirmed to CNN Business. The memo was previously reported

GameStop is getting a new chief executive and chief financial officer, the company announced as part of its earnings release Wednesday. Matt Furlong, who will replace George Sherman as CEO, and Mike Recupero, who will be CFO, are both joining the company from Amazon. Their experience at the online retail giant will likely prove useful

Boeing is seeking a one-year delay in its deadline to deliver two new 747 jets to be used as Air Force One. And that would mean added costs for taxpayers. The aircraft manufacturer signed a $3.9 billion deal for the presidential planes with the Air Force in 2018. The planes are currently due to be

As infrastructure negotiations between the White House and a GOP Senate group broke down this week, business executives are warning that aging infrastructure is holding America back. Nearly two-thirds (63%) of middle market executives say the nation’s ailing infrastructure is restricting growth of the national economy, according to a new RSM survey shared exclusively with

For the past decade, movie theaters have counted on a big, buzzy Marvel hit to kick off a lucrative summer season. But this year, the superhero of the moment isn’t going anywhere near the cinema. “Loki,” the latest streaming series from Marvel Studios, premiered Wednesday to much fanfare. The show, which stars Tom Hiddleston as

An estimated $150 million in equity capital has been invested in Black-owned banks since George Floyd was murdered last year, according to the National Bankers Association, a trade group that represents 24 of the country’s minority-owned financial institutions. Those funds have put the nation’s Black banking community in a stronger position today than it was

Best Buy will be closed on Thanksgiving Day, moving many of its Black Friday deals online and offering alternatives to in-store shopping. The decision marks the second straight year that Best Buy stores will be dark on the holiday. Last year, in the midst of the Covid crisis, the store encouraged customers instead to take

Martin Winterkorn has agreed to pay Volkswagen nearly $14 million after an investigation found the former CEO failed to respond properly to signs that the company may have been using illegal diesel engine technology. He also failed to ensure that questions from US authorities about the German carmaker’s 2015 emissions scandal were answered “truthfully, completely

Lordstown Motors, the startup electric truck maker, warned Tuesday it is close to running out of cash and may be forced out of business in the next year. The news, which sent Lordstown shares down about 20% in midday trading Wednesday, is a blow to not only the company but also to the gritty industrial

Ferrari has turned to a top tech executive to be its new CEO and lead the company into the age of electric supercars. Benedetto Vigna, currently the president of micro-electromechanical systems and sensor groups at the Geneva-based computer chip maker STMicroelectronics, will take over as CEO September 1. “His deep understanding of the technologies driving

El Salvador has become the first country to adopt bitcoin as legal tender. A majority of lawmakers have approved a proposal from Salvadorian President Nayib Bukele that will allow bitcoin to be used as legal tender in the country alongside the US dollar. The law states that “all economic agents shall accept bitcoin as a

In a landmark move, El Salvador has become the first country to adopt bitcoin as a legal form of payment. But there’s still tons of pressure on the cryptocurrency. What’s happening: A majority of lawmakers have approved a proposal from Salvadorian President Nayib Bukele that will allow bitcoin to be used as legal tender in

The Biden administration said Tuesday it is investigating how tax information from several of the world’s richest people — including Jeff Bezos, Elon Musk and Warren Buffett — was leaked to the public. “The unauthorized disclosure of confidential government information is illegal,” said Treasury spokeswoman Lily Adams. “The matter is being referred to the Office