New York (CNN Business)Elon Musk's big payday may be closer than you think.As part of a approved by shareholders in 2018, the Tesla CEO stands to get options to buy 1.7 million shares of Tesla shares once the company has achieved a $100 billion market value over a period of six months, as well as hitting certain financial performance targets it has already achieved.Tesla didn't cross the market cap threshold until a few weeks ago, on Jan. 22, but Musk could qualify for this first batch of options later this spring.That's because the stock continues to soar past that $100 billion market...…New York (CNN Business)Elon Musk's big payday may be closer than you think.As part of a approved by shareholders in 2018, the Tesla CEO stands to get options to buy 1.7 million shares of Tesla shares once the company has achieved a $100 billion market value over a period of six months, as well as hitting certain financial performance targets it has already achieved.Tesla didn't cross the market cap threshold until a few weeks ago, on Jan. 22, but Musk could qualify for this first batch of options later this spring.That's because the stock continues to soar past that $100 billion market...WW…

We're no longer maintaining this page.For the latest business news and markets data,Why Amazon is buying Whole FoodsThe online retail giant announced Friday that is buying organic grocery chain for $13.7 billion in cash. The deal values Whole Foods at $42 a share, 27% higher than where the stock was trading Thursday.said Whole Foods stores will continue operating under that name as a separate unit of the company. Whole Foods CEO John Mackey will stay on to lead Whole Foods, which will keep its headquarters in Austin, Texas. The deal shows Amazon's interest in moving into the business of...…We're no longer maintaining this page.For the latest business news and markets data,Why Amazon is buying Whole FoodsThe online retail giant announced Friday that is buying organic grocery chain for $13.7 billion in cash. The deal values Whole Foods at $42 a share, 27% higher than where the stock was trading Thursday.said Whole Foods stores will continue operating under that name as a separate unit of the company. Whole Foods CEO John Mackey will stay on to lead Whole Foods, which will keep its headquarters in Austin, Texas. The deal shows Amazon's interest in moving into the business of...WW…

New York (CNN Business) on the nation's oil and gasoline industry could send gas prices higher, exacerbating that's already hurting American consumers.But how much prices will increase, and for how long, will depend on the extent of the damage. The storm hit on Sunday, killing at least one person and knocking out power for more than 1 million customers. The price of a gallon of regular gas stood at $3.15 Monday, according AAA, up only a fraction of a penny from the previous day's average, and down 1 cent from a week ago. But wholesale gasoline futures were about 5 cents higher in early...…New York (CNN Business) on the nation's oil and gasoline industry could send gas prices higher, exacerbating that's already hurting American consumers.But how much prices will increase, and for how long, will depend on the extent of the damage. The storm hit on Sunday, killing at least one person and knocking out power for more than 1 million customers. The price of a gallon of regular gas stood at $3.15 Monday, according AAA, up only a fraction of a penny from the previous day's average, and down 1 cent from a week ago. But wholesale gasoline futures were about 5 cents higher in early...WW…

New York (CNN Business)Tesla posted record profits Monday — its third record quarter in a row — as its adjusted earnings reached the $1 billion mark for the first time.The company recorded $9 billion in total revenue. That was slightly lower than fourth quarter sales but up 75% from the year-earlier period. Revenue was partly held back as it , the Model S and Model X, during the quarter, as it prepared to roll out of those vehicles and dealt with a that has dogged the entire auto industry.But Tesla said it weathered the chip shortage "in part by pivoting extremely quickly to new...…New York (CNN Business)Tesla posted record profits Monday — its third record quarter in a row — as its adjusted earnings reached the $1 billion mark for the first time.The company recorded $9 billion in total revenue. That was slightly lower than fourth quarter sales but up 75% from the year-earlier period. Revenue was partly held back as it , the Model S and Model X, during the quarter, as it prepared to roll out of those vehicles and dealt with a that has dogged the entire auto industry.But Tesla said it weathered the chip shortage "in part by pivoting extremely quickly to new...WW…

New York (CNN Business)Simone Biles, the most decorated gymnast ever and one of the world's greatest athletes, is leaving endorsement powerhouse Nike for a deal with Athleta, the athletic clothing unit of Gap Inc.Biles is a significant signing for Athleta's marketing efforts. She's the first woman to capture five all-around gymnastic world championship titles, and the winner of five Olympic medals, four of them gold. She's one of the most prominent US athletes, male or female, expected to ."We are excited to welcome Simone to the Athleta family and work together to further our mission of...…New York (CNN Business)Simone Biles, the most decorated gymnast ever and one of the world's greatest athletes, is leaving endorsement powerhouse Nike for a deal with Athleta, the athletic clothing unit of Gap Inc.Biles is a significant signing for Athleta's marketing efforts. She's the first woman to capture five all-around gymnastic world championship titles, and the winner of five Olympic medals, four of them gold. She's one of the most prominent US athletes, male or female, expected to ."We are excited to welcome Simone to the Athleta family and work together to further our mission of...WW…

New York (CNN Business)When first announced in 2017, Foxconn's plan to build a massive electronics factory in Wisconsin was hailed by then- as a sign of the rebirth of American manufacturing.But nearly four years later, the complex that promised to create a Silicon Valley in the industrial Midwest is essentially a white elephant, a collection of mostly empty buildings without any high-tech products to build. And this week it became official: The pledged investment of up to $10 billion to create as many as 13,000 jobs is not coming.The Wisconsin Economic Development Corp. and the Taiwanese...…New York (CNN Business)When first announced in 2017, Foxconn's plan to build a massive electronics factory in Wisconsin was hailed by then- as a sign of the rebirth of American manufacturing.But nearly four years later, the complex that promised to create a Silicon Valley in the industrial Midwest is essentially a white elephant, a collection of mostly empty buildings without any high-tech products to build. And this week it became official: The pledged investment of up to $10 billion to create as many as 13,000 jobs is not coming.The Wisconsin Economic Development Corp. and the Taiwanese...WW…

New York (CNN Business)The empty middle seat on airplanes, one of the few advantages of pandemic, is about to disappear. , the last remaining US airline to keep middle seats unbooked, has lifted that prohibition as of May 1, the company announced Wednesday. It is another sign of a and greater willingness of people to resume pre-pandemic activities."As vaccinations become more widespread, consumer demand and behaviors show us that confidence in travel is on the rise and customers are ready to reclaim their lives," said Delta's statement Wednesday.Airlines have insisted that even with the...…New York (CNN Business)The empty middle seat on airplanes, one of the few advantages of pandemic, is about to disappear. , the last remaining US airline to keep middle seats unbooked, has lifted that prohibition as of May 1, the company announced Wednesday. It is another sign of a and greater willingness of people to resume pre-pandemic activities."As vaccinations become more widespread, consumer demand and behaviors show us that confidence in travel is on the rise and customers are ready to reclaim their lives," said Delta's statement Wednesday.Airlines have insisted that even with the...WW…

MarketsFeaturedFear & Greed IndexLatestBy and , CNN BusinessLink Copied!Ad Feedback — Bernard Madoff, whose name became synonymous with financial fraud, died while serving a 150-year sentence in Federal Prison. He was 82 years old.His death Wednesday at the Federal Medical Center in the prison in Butner, North Carolina, was confirmed by the US Bureau of Prisons. A cause of death was not released.In February 2020, he petitioned the courts for an early release from prison, stating that he had and a life expectancy of less than 18 months. But the US Attorney’s office for the...…MarketsFeaturedFear & Greed IndexLatestBy and , CNN BusinessLink Copied!Ad Feedback — Bernard Madoff, whose name became synonymous with financial fraud, died while serving a 150-year sentence in Federal Prison. He was 82 years old.His death Wednesday at the Federal Medical Center in the prison in Butner, North Carolina, was confirmed by the US Bureau of Prisons. A cause of death was not released.In February 2020, he petitioned the courts for an early release from prison, stating that he had and a life expectancy of less than 18 months. But the US Attorney’s office for the...WW…

New York (CNN Business)The United States has agreed to suspend tariffs on UK products including Scotch whisky and cashmere as both sides work to resolve a long-running dispute over subsidies.The will be suspended for four months, the United Kingdom and the United States said in a joint statement, as the two sides try to work out an agreement on the underlying dispute over commercial jets. The United Kingdom unilaterally suspended its own tariffs related to the spat on January 1."This will benefit a wide range of industries on both sides of the Atlantic, and allow for focused settlement...…New York (CNN Business)The United States has agreed to suspend tariffs on UK products including Scotch whisky and cashmere as both sides work to resolve a long-running dispute over subsidies.The will be suspended for four months, the United Kingdom and the United States said in a joint statement, as the two sides try to work out an agreement on the underlying dispute over commercial jets. The United Kingdom unilaterally suspended its own tariffs related to the spat on January 1."This will benefit a wide range of industries on both sides of the Atlantic, and allow for focused settlement...WW…

New York (CNN Business)Emergent BioSolutions' stock lost more than half of its value since the disclosure that it of Johnson & Johnson's Covid-19 vaccine at its Baltimore plant. But the company's CEO dumped more than $11 million worth of stock ahead of the stock's massive decline. announced on March 31 that problems at the plant had of vaccine unusable. Emergent had contracted to make the covid vaccine for the drugmaker. The plant also ran into problems with Covid-19 vaccines it is making for -- a vaccine in use in Europe and elsewhere in the world, but .Following an inspection by the...…New York (CNN Business)Emergent BioSolutions' stock lost more than half of its value since the disclosure that it of Johnson & Johnson's Covid-19 vaccine at its Baltimore plant. But the company's CEO dumped more than $11 million worth of stock ahead of the stock's massive decline. announced on March 31 that problems at the plant had of vaccine unusable. Emergent had contracted to make the covid vaccine for the drugmaker. The plant also ran into problems with Covid-19 vaccines it is making for -- a vaccine in use in Europe and elsewhere in the world, but .Following an inspection by the...WW…