Amazon plans to launch a new section on its site dedicated to low-priced fashion and lifestyle items that will allow Chinese sellers to ship directly to U.S. consumers, CNBC has learned.…
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Volkswagen plans to invest up to $5 billion in electric vehicle startup Rivian, starting with an initial investment of $1 billion. The additional $4 billion is expected by 2026. It includes plans…
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The ‘funflation’ effect: Why Americans are spending on travel and entertainment
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Even while carrying $1.13 trillion in credit card debt, many Americans are still willing to splurge on travel and entertainment. But this summer it will cost even more thanks to “funflation,” a term…
Amazon shares climbed more than 3% in intraday trading on Wednesday, pushing the company’s market cap past $2 trillion for the first time. In crossing the milestone, Amazon join Nvidia, Apple,…
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Tesla’s Cybertruck recalled for a fourth time over two separate parts issues
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DETROIT (AP) — Tesla is recalling its futuristic new Cybertruck pickup for the fourth time in the U.S. to fix problems with trim pieces that can come loose and front windshield wipers…
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Treasury Secretary Yellen announces $100M affordable housing fund as shelter costs weigh on Biden
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Treasury Secretary Janet Yellen on Monday unveiled a new slate of financing initiatives to support housing development, including a $100 million fund specifically for affordable housing. The announcement comes days before President Joe Biden faces off against former…
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21 million Miniverse toy sets recalled after reports of burns and respiratory irritation
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More than 21 million Miniverse “Make It Mini” sets by California toymaker MGA Entertainment are being recalled because of potentially hazardous resins, the Consumer Product Safety Commission reported Tuesday. The…
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Sixteen Nobel Prize-winning economists warn a second Trump term would ‘reignite’ inflation
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Sixteen Nobel Prize-winning economists signed a joint letter Tuesday warning of what they see as economic risks if former President Donald Trump were to serve a second term, including reheated inflation. “While each…
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Hooters to close ‘underperforming’ restaurants amid broader industry woes
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Hooters said Monday that it’s closing ‘a select’ number of underperforming restaurants, the latest casual dining chain to announce shutdowns amid broader industry woes. Hooters said that it was ‘under…
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Maker of Hershey’s, Jeni’s, and Friendly’s ice cream products issues recall over Listeria
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A company responsible for producing ice cream products for several popular brands, including Hershey’s, Jeni’s and Friendly’s, has issued a recall because some of its products may be contaminated with…