Business

Netflix’s Reed Hastings is giving up his CEO role but will remain on as chairman, the company announced along side its earnings report Thursday. Co-CEO Ted Sarandos will remain in his position. Greg Peters, most recently…

Federal Reserve policymakers on Wednesday signaled they will push on with more interest rate hikes, with several supporting a top policy rate of at least 5% even as inflation shows signs of having peaked and…

Microsoft said Wednesday it would cut 10,000 jobs worldwide amid a slowing global economy. In a blog post, Microsoft CEO Satya Nadella said the company was seeking to align its cost structure with projected revenues…

Party City filed for Chapter 11 bankruptcy protection on Tuesday, making it the latest casualty in the U.S. retail industry as persistently high inflation takes a toll on consumer spending. Troubled retailers often seek bankruptcy…

Opening arguments kicked off Wednesday in a trial that is pitting Tesla against shareholders accusing the company of misleading them over a tweet by Elon Musk stating funding had been ‘secured’ to take the electric…

A 2016 video that Tesla used to promote its self-driving technology was staged to show capabilities like stopping at a red light and accelerating at a green light that the system did not have, according to…

Bank of America CEO Brian Moynihan said Friday that the bank is preparing for a potential recession in 2023, including a scenario where unemployment rises rapidly. “Our baseline scenario contemplates a mild recession. … But…

Southwest Airlines is looking at all options to ensure the operational meltdown it suffered last month is not repeated, Chief Executive Bob Jordan said on Thursday. The Dallas-based carrier has been dealing with customer outrage and…

Price growth in the United States cooled in December as the economy continued to show signs of weakening. Inflation landed at 6.5% compared to the 12 months prior. That figure was in line with analysts’…

Chickens may not be able to fly very far, but the price of eggs is soaring. A lingering bird flu outbreak, combined with soaring feed, fuel and labor costs, has led to U.S. egg prices…