Business

JasonDoiy/Getty Images (SAN FRANCISCO) — Elon Musk has chosen a new CEO of Twitter and plans to step down from the role within about six weeks, the billionaire entrepreneur said on Thursday. Musk, who runs Tesla and Space X, did not disclose the identity of the incoming chief executive. He said he plans to transition to […]

Eric Thayer/Bloomberg via Getty Images (NEW YORK) — Shares of PacWest Bancorp plummeted more than 20% in early trading on Thursday after the regional lender said it faced a sizable withdrawal of deposits last week, renewing concern over financial trouble in the aftermath of a string of major bank collapses. The sharp decline of PacWest […]

Gary Hershorn/Getty Images (NEW YORK) — Peloton is recalling over two million bikes, warning that the bike seat post assembly could break and cause users to fall. The Peloton Bikes Model PL01 is the one being recalled. Users are told to immediately stop using the bike and call Peloton for a free repair. There have […]

Greg Bajor/Getty Images (NEW YORK) — Uber will soon allow customers to book plane tickets directly through its app. The new feature powered by online travel agent Hopper will roll out for users in the United Kingdom this summer. Customers can enter their destination and travel dates, select their desired flights and then pay directly […]

Javier Ghersi/Getty Images (NEW YORK) — Consumer prices rose 4.9% last month compared to a year ago, extending a monthslong slowdown and bolstering hopes that inflation will continue its return back to normal levels. The fresh data aligns with the Federal Reserve’s effort to slow the economy and slash prices while averting a recession. The […]

Courtesy of Canva (NEW YORK) — Although it’s been over 20 years since Marisa Bardach Ramel’s mom Sally died in 2002, the Colorado-based author said she’s caught by surprise every year when Mother’s Day rolls around. “Each year, I think I’m far enough away from it where it’s not going to bother me, and each […]

Gabriela Tulian/Getty Images (NEW YORK) — Customers at the bakery Nothing Bundt Cake, in Memphis, Tennessee, choose items from snickerdoodle, red velvet and blueberry bliss, among other flavors. But patrons cannot avoid the surging prices. Amy Lupo, who runs three Memphis-area company franchises, said a jump in the cost of ingredients over the past year […]

Javier Ghersi/Getty Images (NEW YORK) — Fresh inflation data on Wednesday will show whether price hikes slowed for the tenth consecutive month in April, easing financial pain for U.S. households and bolstering hopes that price increases are on their way back to normal levels. The data arrives one week after the Federal Reserve escalated an […]