Money

The Biden era is off to a roaring start on Wall Street, even surpassing the euphoria following President Donald Trump’s upset victory in 2016. The S&P 500 has surged 10% since Election Day to all-time highs. That nearly doubles the 5.5% rally during the same post-election period in 2016. The Nasdaq, lifted by high-flying tech

China has launched an antitrust investigation into Alibaba as it steps up scrutiny of the country’s rapidly growing internet firms. The State Administration for Market Regulation, China’s top market regulator, said Thursday that it would probe alleged monopolistic behavior by Alibaba, Jack Ma’s online shopping and cloud computing giant. It gave few details but said

Visa said Wednesday it will allow customers to make payments on some adult websites owned by Pornhub’s parent company, MindGeek. The allowed websites, Visa says, only host professionally produced adult studio content rather than user-generated content, which it currently bans. “Following a thorough review, Visa will reinstate acceptance privileges for MindGeek sites that offer professionally

As a tech reporter, I’ve probably spent too much time with devices over the years, but I always tried to put in place some boundaries: no phone at the dinner table, no checking work Slacks after a certain hour and limiting screen time for my kids. But this year, to quote a beloved New Yorker

America has gone from having the strongest job market in decades to the very opposite during the pandemic. For older workers who have lost their jobs this year, the state of the labor market makes it harder to get rehired as the economy recovers, forcing many Americans to retire early. The US economy shed more

The private bankers responsible for lending to President Donald Trump and Jared Kushner have resigned from Deutsche Bank, the bank said. “Rosemary Vrablic and Dominic Scalzi have tendered their resignations to Deutsche Bank effective as of year-end, which was accepted by the bank,” Daniel Hunter, a spokesman for the bank said in a statement. Vrablic

Tesla CEO Elon Musk said on Twitter on Tuesday that he attempted to sell the company “during the darkest days of the Model 3 program,” but that Apple CEO Tim Cook “refused to take the meeting.” Apple did not immediately respond to a request for comment Musk made the claim in response to a post

The Department of Justice is alleging that Walmart broke the law and contributed to the prescription opioid crisis by filling thousands of invalid prescriptions and failing to report suspicious orders of opioids, according to the department’s statement. The Justice Department said the civil penalties it is seeking could total billions of dollars and injunctive relief.

Tesla CEO Elon Musk said on Twitter on Tuesday that he attempted to sell the company “during the darkest days of the Model 3 program,” but that Apple CEO Tim Cook “refused to take the meeting.” Apple did not immediately respond to a request for comment Musk made the claim in response to a post

Ray Dalio, the billionaire founder of the world’s largest hedge fund, is deeply worried about a divided and profoundly unequal America as President-elect Joe Biden prepares to take power. Dalio is warning that leaders must urgently address the toxic brew of worsening inequality, political polarization and mounting debt. “There will have to be a resolution

Executives from United and American Airlines announced plans Tuesday to bring back thousands of their furloughed workers in response to Congress passing its latest Covid-19 relief bill. The new law includes an extension of the airline industry’s Payroll Support Program, which sets aside $15 billion in assistance to bring back more than 32,000 United and