MoneyWatch

The U.S. economy contracted in the first three months of the year as falling exports and a decrease in government spending took a toll. The gross domestic product shrank at annualized rate of 1.4%, the Commerce Department reported Thursday. It’s the first contraction since the coronavirus-driven recession of the second …

Elon Musk said he has raised $46.5 billion to purchase Twitter and is considering buying shares directly from investors to take control of the social media company. In a securities filing on Thursday, the Tesla CEO said he raised $22.5 billion from Morgan Stanley Senior Funding to finance the bid, and …

The abrupt departure of two senior executives from a social media platform backed by former President Donald Trump is raising questions about where it goes from here. Technology chief Josh Adams and product development head Billy Boozer stepped down from Truth Social after a bumpy start in February for its …

Just as air travel is roaring back to pre-pandemic levels, oil prices are rising due to Russia’s ongoing invasion of Ukraine. Experts say the surge in costs is causing airlines to pull back on leisure routes introduced during the pandemic as longer-haul routes that consume more jet fuel start to make …

As Americans continue to quit their jobs at historic rates — an accelerating trend known as the “Great Resignation” — a growing number of full-time workers are breaking out of their 9-to-5 office jobs for something a little more free-range: contract work.  In doing so, many professionals are discovering they are …

Bank customers between the ages of 18 and 41 are paying more than three times as much in ATM and overdraft fees compared to baby boomers with checking and savings accounts, according to a Bankrate survey released Tuesday.  Baby boomers pay an average of $2 a month in bank fees, …

Hundreds of thousands of Amazon warehouse workers may soon have to leave their cellphones behind if the retailer reimposes a workplace ban on the devices that was relaxed during the pandemic.  The issue is particularly acute — some Amazon workers and their advocates say — in light of the recent …

CVS Health will close hundreds of drugstores over the next three years, as the retail giant adjusts to changing customer needs and converts to new store formats. The company said Thursday that it will close about 300 stores a year for the next three years as it looks to reduce …

NFL Commissioner Roger Goodell received an annual salary of $63 million for the past two years, according to the the New York Times, citing documents shared privately by league officials. The figure was revealed during an internal team owners meeting that took place in New York City, the paper reported. …

American consumers are worried that supply-chain woes will hinder their holiday shopping this year, according to a new survey from software maker Oracle. Some 28% worry about more expensive products, while almost as many fret that they’ll struggle to find the gifts they’re looking for, the questionnaire found.  The poll …