WASHINGTON — With Democrats on the verge of passing an almost $2 trillion stimulus bill and COVID-19 vaccinations moving ahead, the U.S. economic outlook is much sunnier than it looked in early January.
The latest Bloomberg monthly survey of economists shows the annualized pace of growth in the first quarter will be 4.8%, twice as fast as ...Read more
Elon Musk set records last year for one of the fastest streaks of wealth accumulation in history. The reversal is underway, and it’s steep.
The Tesla Inc. chief executive officer lost $27 billion since Monday as shares of the automaker tumbled in the selloff of tech stocks. His $156.9 billion net worth still places him No. 2 on the Bloomberg ...Read more
With Boeing in crisis due to the grounding of the 737 MAX and the coronavirus pandemic's hit to air travel, chief executive Dave Calhoun chose last March to forgo his base salary for the rest of the year and his annual incentive bonus for 2020, leaving aside $3.6 million that he could have taken.
With that, his direct take-home pay last year ...Read more
Cybersecurity pioneer John McAfee, in custody in Spain facing U.S. tax charges, was indicted for fraud and money laundering over his use of social media to promote cryptocurrencies, as prosecutors go after illegal activity in the sector.
McAfee and another man, Jimmy Gale Watson Jr., used McAfee’s Twitter account to push a variety of digital ...Read more
It’s time Jeep and Stellantis, the huge automaker that owns the popular and profitable brand, pay their debt to the Cherokee Nation of American Indians. It won’t be easy, it shouldn’t be free, but it’s the right thing to do.
Jeep has reaped billions of dollars from positive perceptions of what "Cherokee" means since the first vehicle ...Read more
California theme parks and sports stadiums will be allowed to welcome back visitors far sooner than expected under new guidance the state unveiled Friday.
While the changes don't mean it'll be business as usual at large-capacity facilities, they do reflect the state's growing sentiment that, with case rates on the decline and the COVID-19 ...Read more
CHICAGO — The Illinois weed industry, fresh off surpassing $1 billion in revenue during its first year of recreational marijuana sales, may already be facing its “Norma Rae” moment of union awakening.
Seeking higher pay, career advancement and better protection from the COVID-19 pandemic, cannabis workers from Chicago to Springfield have ...Read more
Mary Olmos had no difficulty obtaining refunds for Lakers games, Los Angeles Philharmonic concerts and other events that were canceled because of the COVID-19 pandemic.
But getting all her money back for the yet-to-be-held 2020 Tokyo Olympics has been like running a marathon.
And the Upland, Calif., resident is starting to wonder if she'll ...Read more
An Amazon telehealth outfit that started as a pilot service for Seattle-area employees and their families has quietly filed paperwork to operate in 21 more states, a signal of Amazon’s expanding ambitions for the $3.8 trillion medical sector.
The service, Amazon Care, launched a year ago as an app providing on-demand chat and video ...Read more
Just one word.
That's all Ford CEO Jim Farley used to respond to Tesla CEO Elon Musk on Friday.
"Tesla & Ford are the only American carmakers not to have gone bankrupt out of 1000’s of car startups. Prototypes are easy, production is hard & being cash flow positive is excruciating," Musk tweeted Thursday.
Farley retweeted Musk early Friday ...Read more
Growth prospects for the U.S. economy this year are brightening considerably as Americans get vaccinated from the coronavirus and Congress closes in on another massive fiscal relief package.
The latest Bloomberg monthly survey of economists shows the pace of growth in the first quarter will be twice as fast as respondents expected just two ...Read more
The second generation, battery-powered Chevy Bolt EV is better than ever. I just wish it were a Caddy.
The 2022 Bolt EV (as in Electric Vehicle) has acquired a stretched version — called the Bolt EUV (Electric Utility Vehicle) — and all kinds of luxury touches. Super Cruise self-driving like a Cadillac Escalade. Three inches of rear legroom...Read more
With the introduction of its new C40 Recharge on Tuesday, Volvo became the latest automaker to bet that consumers who have so far been cool to the idea of an electric vehicle might change their minds if it comes in a form they love: the crossover. Whether they do may be crucial to the success of California's plan to end sales of gasoline and ...Read more
The automotive world is changing freaky fast. SUVs have eclipsed sedans. Electric pickup trucks are a thing. Dashboards look like iPads. And Corvette has put the engine behind the driver. What's next?
Would you believe an electric Porsche station wagon?
The iconic sports car brand unveiled its 2021 Taycan Cross Turismo Thursday, a wagon ...Read more
Volkswagen joins the race to build America’s leading affordable electric vehicle this month with the ID4, a sleek model designed to challenge popular compact — and conventionally powered — SUVs like the Honda CR-V, Toyota RAV4, Ford Escape and Chevrolet Equinox.
There’s still room at the top as automakers compete to see who nails the ...Read more
It may sound shallow, but great design always wins out. It is why Apple has become one of the world’s most highly valued companies, a lesson not lost on Dell and Microsoft. So, I wasn’t expecting to like the redesigned 2021 Buick Envision, if only for the fact that it is the only car currently sold in the U.S. made in China. But then it ...Read more
During a cold winter with plenty of snow, a sunny day with temperatures in the upper 30s can feel like spring relief. It still is cold — especially for those of us in south Florida — but the relative warmth can change one’s mood.
Much the same can be said of the bond market and inflation. Interest rates remain historically low, but the ...Read more
U.S. employers added more jobs than forecast in February and the unemployment rate declined, suggesting the labor market is clawing its way forward again following several disappointing months.
Payrolls increased 379,000 after an upwardly revised 166,000 January increase, according to a Labor Department report Friday. Economists in a Bloomberg ...Read more
To the casual observer, Melrose Avenue last Monday afternoon was back in full swing. The sun shone brightly and throngs of fashionistas decked in edgy streetwear prowled the famed shopping district.
People clacked away on their laptops on the Starbucks patio. Even tattoo parlors and barbershops showed signs of life after a tumultuous year, ...Read more
A new pickup truck from Ford Motor Co. quietly began rolling off assembly lines at the Dearborn automaker's Hermosillo plant in Mexico last month, according to production data reported to shareholders this week.
The news was first reported by CNBC. The new product — dubbed "C-Pick Up" and expected to be called "Maverick" — appeared in a ...Read more
- Elon Musk trolls GM, Chrysler on Twitter. Ford CEO responds with 1 word
- Amazon's telehealth arm quietly expands to 21 more states
- Uncertainty, anger, joy: Businesses react to Texas governor dropping mask mandate
- Mark Phelan: Jeep owes the Cherokee Nation; it's time to pay up
- Boeing CEO gave up millions in pay last year, though future stock awards loom large