Money

Treasury Secretary Janet Yellen said she didn’t think inflation posed a significant risk now that the Biden administration’s covid relief is signed and on its way to implementation. Prominent economists including Larry Summers have warned, in part, that the bill could impact financial stability and lead to unprecedented inflationary pressure. “Policymaking is about identifying and

Excitement around 5G, and its promise of lightning fast download speeds and huge data capacity, has ratcheted up since the first 5G-enabled iPhone was released last fall. But the actual experience of 5G doesn’t always live up to the hype — not yet, at least. This is partly because there’s been a lack of available

Bitcoin prices continue to skyrocket. The cryptocurrency surpassed $60,000 on Saturday to hit a new high, just a few weeks after it topped $50,000. Bitcoin smashed through the $30,000 and $40,000 levels over a few days in January. Bitcoins in circulation are worth more than $1 trillion. Bitcoin prices have more than doubled so far

When Subhakar Khadka immigrated to California seven years ago, he had his sights set on a simple life with simple goals: Earn a living so that his family in Nepal can join him in the United States. But to make his dream a reality, he became an Uber driver, and he’s had to handle some

Elizabeth Holmes, the founder of failed biotech company Theranos, is pregnant — a new development that could once again delay the start date of her highly-anticipated criminal fraud trial. Holmes, whose company had purported to have revolutionized blood testing and was once valued at $9 billion, was indicted on federal wire fraud charges in June

Amazon CEO Jeff Bezos will not be testifying before the Senate Budget Committee on Wednesday, according Mike Casca, a spokesman for Senator Bernie Sanders, the chair of that committee. The company told the panel Friday that the Amazon founder is unable to attend next week’s hearing on inequality, Casca told CNN. In a statement, the

Google and Microsoft openly sparred on Friday as the latter prepared to testify at a Congressional hearing focusing on Big Tech’s impact on local news. Microsoft targeted Google’s dominance in advertising as it described in congressional testimony how the tech industry has contributed to the erosion of local journalism. “The problems that beset journalism today

For decades, China’s economy has grown much faster than America’s. That trend is likely to be broken in 2021 as the US recovery from the pandemic gains momentum. Economists are swiftly upgrading their US growth forecasts as Covid vaccinations accelerate and after Washington enacted a $1.9 trillion stimulus package that is far larger than many

American consumers are growing more confident as the light at the end of the pandemic tunnel becomes brighter. The rollout of Covid-19 vaccines, President Joe Biden’s call on states to make shots available to all adults by May 1, and the new $1.9 trillion stimulus package signed into law Thursday, create a powerful cocktail of

When the pandemic hit, something astonishing happened in the cereal aisle: It cleared out. Beloved brands like Grape-Nuts were suddenly out of stock. Companies once desperate to boost sales swiftly curbed their promotions on products, fearing that they couldn’t meet demand. The early days of the pandemic led to shortages in packaged goods as people

Looking at the stock market, you’d never know that a year ago this week was the Coronavirus Crash. In a matter of days, the S&P 500 dropped 12% and into a bear market. One-day point drops in the Dow and S&P 500 set records, trading curbs were triggered and the history books recorded yet another

Ulta Beauty CEO Mary Dillon, one of only a few dozen female chief executives of Fortune 500 companies, is stepping down after an eight-year run heading the company. Dillon will become executive chair of the company’s board of directors in June, the company said Thursday. She will be replaced as CEO by Dave Kimbell, the

Britain’s exports to Europe collapsed in January as companies grappled with new terms of trade following Brexit. The United Kingdom exported goods worth £8.1 billion ($11.3 billion) to the European Union in its first month completely outside the bloc, a 41% decline compared to December, according to the Office for National Statistics. The drop off

Simon Hu has resigned as chief executive officer of Ant Group, months after the digital payments company was forced to pull its IPO amid a crackdown by Chinese regulators. “The Ant Group Board of Directors has accepted Mr. Simon Hu’s resignation request, due to personal reasons,” said a spokesperson for the Alibaba affiliate. “We are

With no need to house a big engine under a long hood, electric pickup truck designers are getting creative with shapes. There’s Tesla’s wedge-shaped Cybertruck, and Amazon-backed Rivian is planning to put a trunk where the engine would normally go. Now, another California-based electric vehicle startup, Canoo, has revealed a pickup truck with a “cab