Money

Big banks and accounting firms do most of their business in New York, London, Hong Kong and Tokyo. But they wouldn’t be able to function without their back offices, many of which are located in Covid-stricken India. Financial services firms have outsourced a huge number of information technology and operations jobs to India in recent

Twitter, known for instant and short-form expression, is investing more in the media business and long-form journalism. The company announced Tuesday it’s acquiring Scroll, a startup that offers ad-free viewing of news sites for a monthly fee. Scroll launched last January and essentially offers online readers an ad blocker that publishers agree to and benefit

From the price of stocks to ethereum, it’s no secret that markets continue to look extremely frothy. What’s happening: The S&P 500 remains just below its all-time high, while the cryptocurrency ethereum notched a new record on Tuesday, jumping above $3,400. That may seem like good reason for investors to consider taking money off the

A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. “Yesterday wasn’t the end. Yesterday was the first battle of the war.” That’s what John Douglas Wright told his local newspaper on January 7. Wright, 54, who operates a shuttle bus company in Ohio, vowed

One of Eleven Madison Park’s most iconic dishes has been whole roasted duck with daikon and plum — it’s a classic of the restaurant, and one its most long-standing offerings. But when the restaurant reopens next month after more than a year, that dish, and many others it has become known for, will no longer

The Los Angeles Times has its new top editor: Kevin Merida of ESPN will start as executive editor in June, the paper announced Monday. Merida brings more than 40 years of experience in media into the role. He most recently worked at ESPN as a senior vice president and as editor in chief of The

Warren Buffett and Berkshire Hathaway vice chairman Charlie Munger are not big fans of short-term trading and the popular Robinhood app. But it appears that Robinhood has no time for Buffett or Munger either. Buffett said in Saturday’s annual Berkshire Hathaway shareholder meeting that the rise of Robinhood is “a very significant part of the

Verizon is exiting the media business, announcing Monday that it’s selling the unit for $5 billion to private equity firm Apollo Global Management. The sale includes AOL and Yahoo, which Verizon bought for a combined $9 billion in recent years. Verizon will retain a 10% stake in the spin off and the Verizon Media Group

America’s parents — mothers in particular — have been hit hard by the pandemic. Supervising distance learning and keeping their children safe from a health crisis forced some to quit their jobs. But the vaccine rollout and Washington’s promises to spend big on child care could help moms get back to work. “Making schools and

Warren Buffett’s ability to pick investments that pay off over the long term has transformed him into a billionaire and made him the world’s most famous investor. But as the planet heats up, his positions on the climate look increasingly short-sighted. What’s happening: At Berkshire Hathaway’s annual meeting over the weekend, Buffett defended the company’s

Warren Buffett said Monday that Greg Abel, the head of Berkshire Hathaway’s non-insurance business, will be his successor — although Buffett gave no indication that he will give up the top job at the conglomerate anytime soon. Abel has long been considered one of the two men likely to follow Buffett, along with Ajit Jain,

Carbon emissions are a huge contributor to climate change, so companies are getting creative about finding ways to suck the heat-trapping element out of the atmosphere and slow global warming. One Maine-based startup, Running Tide Technologies, is experimenting with farming kelp, a type of seaweed, in an effort to pull carbon from the air and

The Facebook Oversight Board will announce its long-anticipated decision on the fate of former President Trump’s Facebook account at 9 a.m. ET on Wednesday, it announced Monday morning. The Board said last month that it had received 9,000+ public responses concerning Trump’s indefinite suspension from Facebook and Instagram. Facebook suspended Trump’s account following the Jan.

Bitcoin prices continued their rebound Monday, rising about 4% to nearly $59,000. But the world’s largest cryptocurrency has been overshadowed lately by its younger sibling, Ethereum. Ethereum, or ether for short, hit a new record high Monday of about $3,200. Ether prices have more than quadrupled in 2021, soaring 325%. Bitcoin has had a great

Journalist Ye Wint Thu was already on the run when his name and photo appeared on a wanted list broadcast by Myanmar’s military junta. For weeks, he had been documenting protests in Yangon against the military coup. But in early March, after a colleague was violently arrested in the south of the country, and the

TikTok has finally appointed a new permanent chief executive, eight months after its former leader called it quits as the United States was threatening to ban the app. The company on Friday announced that it had named Shouzi Chew as CEO. He joined the company earlier this year as chief financial officer of ByteDance, TikTok’s

A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. CNN reporter and resident fact-checker Daniel Dale has noticed something very interesting about President Biden’s relationship with fact checks. When proven wrong, Biden actually course-corrects. At least in some cases, the Biden White House has

In his first address to a joint session of Congress last week, President Joe Biden framed his climate change agenda as a once-in-a-generation economic opportunity, speaking directly to blue-collar workers. He promised that his focus on the environment would result in “jobs, jobs, jobs.” But what will those “jobs, jobs, jobs” look like? Although the