Money

Cyberattacks are now the foremost risk to the global financial system, even more so than the lending and liquidity risks that led to the 2008 financial crisis, according to Federal Reserve Chairman Jerome Powell. The assessment by one of the world’s leading banking officials underscores how the threat of hacking has become a top concern

China has ordered Alibaba to pay a record fine of 18.2 billion yuan ($2.8 billion) after antitrust regulators concluded that the online shopping giant had been behaving like a monopoly. Chinese state media reported Saturday that the State Administration for Market Regulation had imposed the penalty following an antitrust investigation into Alibaba’s “exclusive dealing agreements”

The bitcoin bull market rages on: The price of one bitcoin is back above $60,000, and not far from its all-time high, as investors gear up for this week’s eagerly awaited direct listing of cryptocurrency exchange Coinbase Global. Bitcoin has more than doubled this year, and it represents just over half of the overall cryptocurrency

In a bold acquisition that could solidify Microsoft’s growing influence in the health care industry, the tech company agreed to buy artificial intelligence developer Nuance in a deal worth $16 billion, excluding debt. Nuance is a leader in healthcare artificial intelligence. Paired with the Microsoft Cloud for Healthcare, introduced in 2020, Microsoft could make a

Federal Reserve Chair Jerome Powell said the US economy is at an “inflection point,” and that growth and job creation is poised to accelerate. Powell made the comments during an interview on CBS News’ “60 Minutes.” In the interview, Powell provided a rosier economic outlook, in contrast to past remarks on the economy’s recovery. “What

Mastercard wants consumers to understand how much their spending habits are contributing to carbon emissions and global warming. The credit card company created a calculator that measures consumers’ carbon footprints based on what they purchase. The tool, which will be available on Monday, focuses on specific spending categories but doesn’t track individual transactions. The calculator

After a raucous start to the year, Wall Street expected non-professional traders to pump chunks of their $1,400 stimulus checks into the stock market, supporting popular names like Tesla and Apple. So far, that doesn’t appear to be happening. Breaking it down: Retail investors who helped power GameStop mania haven’t been rushing to buy their

Alibaba is trying to draw a line under accusations that it behaved like a monopoly after Chinese regulators hit the online shopping giant with a record fine over the weekend. But that doesn’t mean the crackdown on tech in China is over yet. Joe Tsai, Alibaba Group’s co-founder and executive vice chairman, told investors on

It appears travelers are once again eager to take a cruise — and investors may be ready to hop aboard with them. Even though the Centers for Disease Control has yet to give a firm date for when it will allow ships to sail to and from US ports, industry leader Carnival Corp reported last

Tucker Carlson sparked a wave of backlash with comments about the so-called “white replacement theory” on his Fox show Thursday evening. In response, Anti-Defamation League CEO Jonathan Greenblatt sent a letter urging Fox to dump Carlson, and now he’s saying the network needs to rethink its entire lineup. “Fox needs to look at their entire

“Saturday Night Live” opened this week’s episode tackling the news from the Derek Chauvin trial via a Minnesota morning show. The show included two Black anchors, played by Ego Nwodim and Kenan Thompson, and two White anchors, played by Alex Moffat and Kate McKinnon. “It’s been a tough week for news,” Nwodim’s anchor said. “There’s

In a fiery defense of his reputation Friday night, embattled Florida Rep. Matt Gaetz showed how former President Donald Trump’s brash, defiant politics now serve as the template for survival for the most unwelcome figures in a Republican Party that’s out of power in Washington and desperately trying to reposition for 2022. He followed in

A year ago, Joe Biden, then the presumptive Democratic nominee for president, was picking a fight with Amazon over how little it paid Uncle Sam. Now Biden is president, and Amazon CEO Jeff Bezos is on a lonely island supporting the White House’s plan — to raise corporate taxes. Hardly any other company leaders have

The death of hip-hop artist Earl “DMX” Simmons at the age of 50 represents not just an occasion for mourning, but one of celebration and commemoration for the iconic rapper who culled soaring artistry from personal trauma and grief. A Generation X impresario who burst onto the scene during the Clinton administration, DMX offered a

Facebook does not plan to notify its customers who may be among the half a billion users whose personal information was exposed after being posted to a website used by hackers. Last weekend, it was reported that a database of records from more than 533 million Facebook accounts — including phone numbers, email addresses, birthdays

Boeing announced a new problem with the troubled 737 Max — this time, the issue is with its electrical system. “Boeing has recommended to 16 customers that they address a potential electrical issue in a specific group of 737 Max airplanes prior to further operations,” the company said. Airlines need to verify that one of