Financial markets have been rocked by volatility in recent days as investors try to game out how to play the next phase of the pandemic. What’s happening: After plunging 4.9% last week, the tech-heavy Nasdaq Composite rallied 3% on Monday, logging its best day since November. The S&P 500, which dropped 2.5% last week, rose…… MORE
The pandemic drove Target to a record year of sales growth, as shoppers stocked up at its stores and bought online. Target’s 2020 sales increased 19.8% to $93.6 billion from $78.1 billion last year, the company said Tuesday. Digital sales, which include home delivery and in-store pickup, increased 145%. Target’s sales growth of more than…… MORE
One of China’s most powerful financial officials is sounding the alarm over a bubble in global markets. Guo Shuqing, the Communist Party boss at the People’s Bank of China, told reporters in Beijing on Tuesday that confidence in Chinese markets could be hit by volatility around the world. “We are really afraid the bubble for…… MORE
China’s Nio is continuing its turnaround and even eyeing a push abroad. But the wannabe “Tesla killer” isn’t on completely sure footing just yet. Sales for the automaker climbed significantly higher in the fourth quarter of 2020, it reported Monday, though losses also widened more than expected. Nio posted a net loss of almost 1.4…… MORE
Earlier this year tensions between ABC News anchors George Stephanopoulos and David Muir boiled over to the point that Stephanopoulos threatened to walk to a rival network, according to sources close to the matter. In an unusual intervention, Disney executive chairman Bob Iger flew across the country to broker peace at ABC News. Iger smoothed…… MORE
An Amazon employee filed a lawsuit Monday accusing the tech giant of deliberately paying her and other Black employees less than their White counterparts, becoming the latest on a growing list of current and former Amazon workers to accuse the company of systemic racism. Amazon said it was investigating the allegations in the lawsuit. “Amazon…… MORE
A Trader Joe’s worker says he was fired after writing directly to the chain’s CEO calling for stronger Covid-19 safety protocols in his store. Ben Bonnema, a Trader Joe’s employee at a store in New York City, wrote an email to Trader Joe’s chief executive Dan Bane on February 26 urging the store to improve…… MORE
Democratic Senator Elizabeth Warren faces an uphill battle persuading Washington to back her tax on ultra-millionaires — starting with convincing her own party’s Treasury Secretary. Janet Yellen, whom Warren praised last year as an “outstanding choice” to lead the Treasury Department, fears a wealth tax would be too messy to implement. “Then Janet and I…… MORE
Donald G. McNeil Jr., the star New York Times reporter who resigned amid uproar over his 2019 use of a racial slur, broke his silence on Monday, leveling criticism against some of the newspaper’s top brass and offering his own explanation for the events that ended his decades-long career at the outlet. McNeil, who was…… MORE
Nordstrom and at-home fitness startup Tonal, which sells a $2,995 smart home gym, have teamed up to launch a handful of Tonal mini shops inside Nordstrom stores. Tonal-branded mini shops will debut in March in 40 Nordstrom locations across 20 states, Nordstrom said on Monday. The 50-square-foot shops will be located in the women’s active…… MORE
