Money

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

The company behind Tuesday’s massive internet outage has apologized for making a costly mistake that knocked out websites, apps and online services across the world. Fastly, which runs a content delivery network of servers and data centers, also said in a statement late Tuesday that it would work to prevent such a widespread failure in

Britain’s antitrust regulator is investigating whether Ryanair and British Airways broke the law by refusing to refund customers for flights that they could not legally take during coronavirus lockdowns. In a statement on Wednesday, the Competition and Markets Authority said that the airlines may have breached consumers’ legal rights by refusing cash refunds on flights

Tesla’s best-selling Model 3 sedan lost two designations from Consumer Reports after the company made changes to the car’s automatic braking and front collision warning systems. The car also was stripped of its designation as Top Safety Pick+ from the Insurance Institute for Highway Safety. The moves came after Tesla announced that, as of May