Business

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. The storefront, announced at an…

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 for $1 billion each in…

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 economists use to explain the…

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, Alphabet and Microsoft, all of…

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 that can fail. The new…

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 of us has different views…

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 resins, when in liquid form,…

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 President Donald Trump in the first presidential…

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 pressure from current market conditions,’…

Novo Nordisk on Monday said it will spend $4.1 billion to build a new manufacturing plant in Clayton, North Carolina, in a bid to boost the supply of its blockbuster weight loss drug Wegovy, diabetes treatment Ozempic and…