Money

On Thursday, GameStop stock surged as much as 85% in early trading before being halted for volatility. Shares still ended the day up more than 18% at $108.73. The stock was up as much as 20% in after-hours trading. The day before, the gaming retailer’s stock closed nearly 104% higher. Investors gained interest in the

It was another rough day for stocks. The market has entered a new phase of volatility as government bond yields are on the rise, signaling expectations for higher interest rates down the line. The Dow closed down 560 points, or 1.8%, on Thursday, just one day after setting a new all-time high. The broader S&P

Makeup sales have been walloped by the pandemic. But that’s not stopping Sephora from adding more stores as it pushes ahead to attract shoppers outside of struggling malls. The company said Thursday that it is adding more than 60 freestanding stores this year, and 85% of them won’t be in malls. The new stores comes

Hasbro is dropping the honorific “mister” from “Mr. Potato Head,” renaming the shapeshifting plastic spud to the gender-neutral “Potato Head.” It’s a notable change from one of the world’s largest toy makers to untether one of its most famous products from a binary gender identity — something that was far less controversial in 1952, when

Digital currency exchange Coinbase has officially filed to go public, riding a wave of bitcoin enthusiasm that has sent the cryptocurrency markets soaring. Founded in 2012, Coinbase helps users buy, sell, and store cryptocurrencies such as bitcoin and ethereum. The digital brokerage, which competes with Coinmama, CEX.IO and Gemini, announced plans to go public in

It’s another rough day for stocks. The market has entered a new phase of volatility as government bond yields are on the rise, signaling expectations for higher interest rates down the line. The Dow fell more than 360 points, or 1.2%, in the early afternoon Thursday, just one day after setting a new all-time high.

Part of what made last month’s GameStop trading frenzy such a mess: Right as the stock was hitting its peak, Robinhood and other brokerages placed restrictions on traders’ ability to buy it (and other surging “meme” stocks like AMC). Traders were furious and some have filed lawsuits. Lawmakers ranging from Representative Alexandria Ocasio Cortez to

Hyundai will recall 82,000 electric cars globally to replace their batteries after 15 reports of fires involving the vehicles. Despite the relatively small number of cars involved, Hyundai’s recall is one of the most expensive in history, signaling how electric car defects could create hefty costs for automakers — at least in the near future.

It’s another rough day for stocks. The market has entered a new phase of volatility as government bond yields are on the rise, signaling expectations for higher interest rates down the line. The Dow fell more than 400 points, or 1.3%, in the early afternoon Thursday, just one day after setting a new all-time high.

Costco will raise its starting rate for hourly store workers in the United States to $16 an hour, putting its starting wage above rivals such as Amazon, Target and Best Buy. Costco has around 180,000 US employees, and 90% of them work hourly. It will hike its minimum wage to $16 beginning next week, chief

London has been the unrivaled king of European finance for more than three decades. Brexit is starting to change that. Billions of dollars worth of stock and derivatives trading has already vanished from the British capital after the United Kingdom completed its exit from the European Union on Jan. 1, shifting abroad to financial hubs

A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Watching Thursday’s news from Australia while it’s still Wednesday in the United States always feels like a time machine trick. And on this occasion Thursday’s news may really be a glimpse at the future for

Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. Tonight: GameStop stock is all fired up — again. Plus, the US Postal Service’s new vans look like ducks, and somehow Michael Bolton gets a financial news headline in 2021 …

Zillow is no longer just an online platform for browsing available homes or for creeping on the value of your neighbor’s house. In recent years, the company has also begun actually buying, fixing up and selling homes itself through a new division called Zillow Offers — a major shift in its business model. On Thursday,

Costco will raise its starting rate for hourly store workers in the United States to $16 an hour, putting its starting wage above rivals such as Amazon, Target and Best Buy. Costco has around 180,000 US employees, and 90% of them work hourly. It will hike its minimum wage to $16 beginning next week, chief

Call it a Mac mini: Target is opening scaled-down versions of Apple stores at some of its US outlets this year, furthering the two companies’ relationship. Target said an “enhanced Apple shopping experience” is rolling out to 17 stores in the coming months, with redesigned sections that include new lighting and displays for shoppers to

Another 730,000 American workers filed for first-time unemployment benefits, adjusted for seasonal swings, last week, the Labor Department reported Thursday. That was far fewer than economists had predicted, and a massive 111,000-claim drop from the prior week’s number of applications. The decline was mostly due to sharp drops in applications filed in California and Ohio.