Business

The Dow and S&P 500 hit record highs as Tesla stock electrifies

The Dow ended the day up nearly 65 points, or 0.2%, and is now within striking distance of topping the 36,000 level for the first time. The S&P 500 rose 0.5% and the Nasdaq gained 0.9%. Tesla (TSLA) shares surged 13% following the news of a deal to sell 100,000 electric vehicles to rental car […]

Business

Jeff Bezos’ Blue Origin wants to build a tourism space station nearly as big as the ISS

Blue Origin, the rocket and space tourism company founded by Jeff Bezos, is proposing a massive new commercial space station called “Orbital Reef” that could be used to host science experiments, vacation getaways, and potentially even in-space manufacturing. The company plans to work alongside startup Sierra Space to bring the space station to fruition, and […]

Business

$24 billion in goods is floating outside California’s biggest ports

Extreme port congestion has become a major nuisance that just won’t go away this year. Unfortunately, it could be one of the biggest problems of 2022, too. Backlogs and elevated shipping costs are likely to persist “at least” through the middle of next year, Goldman Sachs warned clients in a note Monday. “No immediate solution […]

Business

Russian group that hacked SolarWinds is still attacking America’s computer networks

Nobelium, the Russian hacking group responsible for breaching SolarWinds, is still at it. The Russian hackers behind that successful 2020 breach of US federal agencies compromised as many as 14 technology firms since May as part of another apparent espionage campaign, Microsoft said Monday. The hackers have been hitting a different part of the supply […]

Business

PayPal says it’s not looking to buy Pinterest

PayPal is not looking to buy Pinterest, the digital payments company said Sunday, following reports that it was exploring yet another big-ticket acquisition. In a succinct statement made “in response to market rumors,” PayPal said it’s “not pursuing an acquisition of Pinterest at this time.” Shares in PayPal (PYPL) gained 6.7% in premarket trade on […]

Business

Shiba inu coin, a meme cryptocurrency, hits all-time high

The parody cryptocurrency shiba inu coin just climbed to an all-time high and is one of the biggest digital currencies by market value. Shiba coin — which appears to be inspired by dogecoin, itself a meme currency — is up more than 40% over the last seven days, according to CoinGecko. The website ranks the […]

Business

Hertz is buying 100,000 Teslas

Hertz is betting big on electric vehicles. It’s buying 100,000 Teslas, the largest-ever order by a single buyer. The purchase also represents the biggest move into EVs by a rental car company, by far. “Electric vehicles are now mainstream, and we’ve only just begun to see rising global demand and interest,” said Mark Fields, the […]