Category: United States

Silicon Valley founders could learn a lot from the orderly, drama-free succession planning at Netflix Inc. that reached a conclusion Thursday. Co-founder Reed Hastings stepped down as co-chief executive Thursday, roughly 25 years after he and co-founder Marc Randolph hatched the idea that ultimately became Netflix NFLX, +8.46% in the dot-com era. They started out […]

Last year the price of bitcoin plunged 64%. The price was down 19% from Nov. 1 through the end of the year. That action followed CoinDesk’s Nov. 2 report about the “unusually close” relationship between FTX and Alameda Research. Both companies were co-founded by Sam Bankman-Fried and FTX filed for bankruptcy on Nov. 11. So […]

The Justice Department is investigating conduct at the Abbott Laboratories infant-formula plant in Sturgis, Mich., that led to its shutdown last year and worsened a nationwide formula shortage, people familiar with the matter said. Attorneys with the Justice Department’s consumer-protection branch are conducting the criminal investigation, the people said.

California and Silicon Valley saw net gains in jobs in December, even as tech companies based in the state announce thousands of layoffs. Employers added 16,200 nonfarm payroll jobs in December, the state’s Employment Development Department reported Friday, even as Silicon Valley companies like Intel Corp. INTC, +2.81% began layoffs. The state’s jobless rate stayed at […]

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The Year of the Rabbit upon us. The Lunar New Year falls on Sunday, with many Asian communities celebrating the advent of spring and the beginning of a new year on the lunar calendar. It’s the most important holiday in China, which is why the Chinese government is anticipating more than 2.1 billion journeys to […]

Tesla Inc. Chief Executive Elon Musk took the witness stand late Friday in a federal trial in San Francisco over alleged investor losses caused by his “funding secured” tweet and other tweets back in 2018 related to taking the EV maker private. Tesla shares TSLA, +4.91% edged lower in the extended session Friday after ending […]

Gold ended higher on Friday, with prices for the yellow metal logging their fifth straight weekly gain as investors monitored falling bond yields and fears of an economic downturn. Price action Gold for February delivery GC00, +0.37% GCG23, +0.37% rose $ 4.30, or 0.2%, to settle at $ 1,928.20 an ounce on Comex, for a […]

Former President Donald Trump is urging Republican lawmakers to stay away from cuts to major programs for senior citizens as Washington girds for an intense fight over the U.S. debt limit. “‘Under no circumstances should Republicans vote to cut a single penny from Medicare or Social Security.’” — Former President Donald Trump Trump, who is […]

Investors wouldn’t be blamed for sizing up the first losing week in three for the S&P 500 and decide to start the weekend early. And stock futures are just barely positive. Who can blame them after the mixed bag of data this week that has reigniting worries in some corners about whether the Fed could […]

The U.K. Competition and Markets Authority will investigate the acquisition of EMIS Group PLC by UnitedHealth Group Inc., it said Friday. The CMA said it will investigate if the deal may result in a substantial lessening of competition, and set a deadline of March 17 for its phase-one decision. The watchdog has invited the parties […]

Assicurazioni Generali SpA will start a share-buyback program worth up to 210 million euros ($ 227.5 million), its said late Thursday. The Italian insurer G, -0.88% said it would buy back a maximum of 10.5 million shares from Friday, to end by March, as part of its long-term incentive plan from 2022-24. The maximum purchase […]

STOCKHOLM–Ericsson AB on Friday posted lower-than-expected fourth-quarter net profit and cautioned that the near-term outlook is uncertain, with operators holding off placing new orders as they rebalance inventories and assess economic headwinds. The Swedish telecommunications-equipment company ERIC.A, -2.30% ERIC.B, -2.20% ERIC, -1.66% said these trends started to hurt its key networks unit in the fourth […]

U.S. stocks ended lower for a third straight session Thursday as investors weighed mixed signals on the strength of the economy and digested another round of corporate earnings reports ahead of a Federal Reserve policy meeting in early February. How stocks traded The Dow Jones Industrial Average DJIA, -0.76% fell 252.40 points, or 0.8%, to […]

The Girl Scouts are known for being smart cookie sellers. But the organization is also working to keep its girls rolling in dough as they grow up.  In fact, just in time for the new Girl Scout cookie season, Charles Schwab SCHW, -6.69% has teamed up with the Girl Scouts of the USA to “modernize […]

China has accused “some Western media” of bias and political manipulation in covering China’s abrupt dropping of COVID restrictions, which has led to a wave of new cases of the virus, the Associated Press reported.  An editorial in the Communist Party publication the People’s Daily outlined what it called China’s “optimization and control measures” and blasted […]

Mastercard Inc. is expanding its partnership with Citizens Financial Group to become the bank’s exclusive payments network, the companies will announce Thursday. The two companies have worked together for more than a decade but will grow their relationship across the debit, credit, and commercial portfolios, as well as in services such as open banking and […]

On Tuesday evening, Microsoft hosted an event. It was an intimate gathering of 50 or so people, including the company’s top executives, who got to while away the evening listening to a performance by the musical artist Sting, said people familiar with the event. The concert would end up sounding a sour note to some […]

““I know what this job takes, and I know that I no longer have enough in the tank to do it justice. It is that simple.”” Those are the words of New Zealand Prime Minister Jacinda Ardern, who has announced she will not seek another term and will step down from her office by Feb. […]

Gig work can be precarious, with workers’ earnings depending on the condition of their cars, enough customers hailing rides or ordering food, and whether companies are paying enough to make it worth their while. In some cases, though, drivers for app-based companies can lose their ability to work at all. Apps can “deactivate” them when […]