Employees pack crates with merchandise for orders at a Cainiao warehouse, the logistics subsidiary of Alibaba Group Holding, ahead of the company’s annual Singles’ Day shopping extravaganza in Wuxi, Jiangsu province, China, on Nov. 9, 2020. Qilai Shen | Bloomberg | Getty Images BEIJING — Alibaba is investing further in Europe for Singles Day this
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Thirteen years ago, Tesla was regularly criticized for only “making toys for rich people,” as co-founder and CEO Elon Musk put it at the time. But Musk had a vision for the automaker’s eventual path toward affordable electric vehicles. And today, his predictions seem eerily accurate. On Tuesday, Tesla car owner membership group Tesla Silicon
President Joe Biden delivers remarks on his proposed Build Back Better social spending bill in the White House on Oct. 28, 2021 Chip Somodevilla | Getty Images News | Getty Images The White House issued a framework for a $1.75 trillion social and climate spending bill on Thursday — and would finance more than half
Can’t impersonate guilt; Breakthrough busted; married lawyers plead; and other highlights of recent tax cases. Tampa, Fla.: Brenda Dozier, 54, has pleaded guilty to conspiracy to commit money laundering. From July through at least November 2015, Dozier laundered money that had been extorted from U.S. residents by conspirators residing in the States and overseas. India-based
A plunge may be looming for cryptocurrencies, housing and disruptive technology stocks tied to innovation. According to Rich Bernstein, an Institutional Investor Hall of Famer, the nation’s expiring easy money policies and historic supply chain backlogs are posing serious risks for some of the market’s most popular investments. “There’s a whole series of bubbles going
Senator Richard Burr, a Republican from North Carolina and ranking member of the Senate Health, Education, Labor, and Pensions Committee, speaks during a confirmation hearing in Washington, D.C., on Thursday, April 29, 2021. Al Drago | Bloomberg | Getty Images Sen. Richard Burr of North Carolina and his brother-in-law, who is chairman of an independent
In this article YUM Vehicles wait in line at the drive through lane of a Yum! Brands Inc. Kentucky Fried Chicken (KFC) and Taco Bell restaurant in Lockport, Illinois, U.S. Daniel Acker | Bloomberg | Getty Images Yum Brands on Thursday reported quarterly earnings and revenue that topped analysts’ expectations, fueled by strong demand for KFC’s fried
In this article F TDOC AAPL AMZN PJC Ford Motor Co. CEO Jim Farley walks to speak at a news conference at the Rouge Complex in Dearborn, Michigan, September 17, 2020. Rebecca Cook | Reuters Check out the companies making headlines in midday trading. Ford Motor — Shares of the automaker soared more than 9%
Twitter and Square CEO Jack Dorsey recently issued a dire economic prediction, complete with a frightening phrase: hyperinflation. “Hyperinflation is going to change everything. It’s happening,” Dorsey tweeted on Oct. 22. Later, in response to a follower’s follow-up question, Dorsey added that “[hyperinflation] will happen in the U.S. soon, and so the world.” Such an
Anchiy | E+ | Getty Images Middle-class U.S. households have limited financial assets and may face retirement insecurity, according to an analysis from the National Institute on Retirement Security, a non-profit, non-partisan research and education organization. The study looked at financial assets by generation, net worth and race, based on data from the Federal Reserve’s Survey of Consumer
Mayte Torres | Moment | Getty Images President Joe Biden has unveiled the framework for a proposed $1.75 trillion social spending and climate plan. But one key component — paid family and medical leave — has been nixed from the proposal. Biden had called for 12 weeks of paid leave as part of his American
Tax reform should simplify the tax code. Instead, Congress is debating new ways to raise revenue that would make the tax code more complex and more difficult to administer. The new proposals—imposing an alternative minimum tax on corporate book income, applying an excise tax on stock buybacks, and, at one point this week, a tax