Economy

Tesla CEO Elon Musk has cashed in the first portion of an incentive-based stock options payout for keeping the company’s market capitalization at $100 billion along with hitting revenue milestones. The award is valued at about $775 million.

LOS ANGELES (AP) — Forbes magazine, which once declared Kylie Jenner a billionaire on its cover, says she no longer deserves the title, but Jenner is pushing back.

BERLIN (AP) – Chancellor Angela Merkel will not personally attend a meeting in the U.S. with the leaders of the world’s major economies if President Donald Trump goes ahead with it, unless the course of the coronavirus spread changes by then, her office said Saturday.

While the Chinese Communist Party (CCP) confidently boasts that the security law it intends to impose on Hong Kong will stabilize the city and win applause from business leaders, some corporations are making plans to flee before the last shred of Hong Kong’s autonomy is destroyed.

President Donald Trump on Friday will host a roundtable meeting with industry executives to discuss the reopening of America.

Treasury’s spokeswoman explained on Friday how the Paycheck Protection Program would be changed to make it more useful for small businesses.

Current conditions look better than they did a month ago but the outlook for the future is grimmer.

Social media giant Facebook criticized President Trump’s recent executive order aiming to place new restrictions on social media giants that censor Americans, claiming that the order will “restrict more speech online.”

Friday on Fox News, White House economic adviser Larry Kudlow warned unemployment news was to get worse before it gets better due to the economic downturn resulting from the coronavirus pandemic.

Government payments boosted income in April but Americans shut in their homes spent nearly $2 trillion less than they had a month earlier.

Japanese carmaker Nissan has announced that it will retain its plant in Sunderland, England, but will be closing its factories in Spain, signalling that it may pull out of more locations across the European Union.

A business-funded poll backfired by showing that 56 percent of swing voters favor President Donald Trump’s decision to curb legal immigration for 60 days.

Legislation filed by Senators Tom Cotton (R-AR) and Marsha Blackburn (R-TN) would end China’s pipeline of foreign students to fill spots at American universities and take American STEM jobs.

Thirty-eight House Republicans have joined nine Republican Senators in lobbying the White House to continue importing foreign workers to the United States even as more than 36 million Americans are jobless. 

Sens. Ted Cruz and Mike Lee said tax cuts and deregulation are needed to help small businesses recover in the wake of coronavirus.

The owner of Atlantic City, New Jersey’s, Showboat hotel plans to build a $100 million water park adjacent to the Showboat, with expectations that it will break ground beginning in August.

Presidnet Donald Trump can leverage his control of Silicon Valley’s preferred pipeline of cheap, compliant H-1B visa workers to curb censorship on social media, say experts on immigration policy.

Michigan Gov. Gretchen Whitmer got a win in court against 77-year-old barber Karl Manke on Thursday, but he vowed to continue operating his business she deemed “nonessential.”

Orders for core capital goods dropped in April but the decline was much smaller than most economists had forecast.

Rep. Alexandria Ocasio-Cortez (D-NY) wrote on Twitter that Kevin Hasset’s use of the term “human capital stock” is derogatory and suggested that it is racist.

California’s hospitals are in financial trouble after they prepared for a coronavirus onslaught that never came.

In 2018, Twitter CEO Jack Dorsey appeared before Congress where he made a number of claims, such as stating that Twitter is a “public square” and that the platform had unfairly filtered 600,000 accounts from search results, something Dorsey described as a failure of the company’s “intended impartiality.”

New York Governor Andrew Cuomo (D) announced Thursday that he will sign an executive order allowing businesses to bar entry to individuals who do not wear a mask or face covering amid the Chinese coronavirus pandemic. 

Arizona’s attorney general has reportedly filed a lawsuit against Google accusing the firm of illegally collecting smartphone users’ location data. According to Attorney General Mark Brnovich, “It’s nearly impossible to stop Google from tracking your movements without your knowledge or consent.”

The economic contraction that began in March was even more severe than initially reported.

Roughly 40 million layoffs since the coronavirus shutdowns began.

Prime Minister Boris Johnson will return to Brussels next month to take command at the trade negotiating table, after tensions have increased between the UK and EU in recent weeks.