California Gov. Gavin Newsom said the state will provide rebates to residents if President-elect Donald Trump’s incoming administration does away with a federal tax credit for electric vehicles. In a news release issued Monday, Newsom said he would restart the state’s Clean Vehicle Rebate Program, which provided financial incentives on more than 590,000 vehicles before...

The box office this weekend will be painted pink and green, with a splash of red. Universal’s “Wicked” and Paramount’s “Gladiator II” arrive ahead of the Thanksgiving holiday and are expected to tally more than $200 million in combined ticket sales this weekend. ″‘Wicked’ and ‘Gladiator II’ are the kind of counter-programming duo punch movie theaters and audiences...

Amazon on Friday announced it would invest an additional $4 billion in Anthropic, the artificial intelligence startup founded by ex-OpenAI research executives. The new funding brings the tech giant’s total investment to $8 billion, though Amazon will retain its position as a minority investor, according to Anthropic, the San Francisco-based company behind the Claude chatbot and...

Securities and Exchange Commission Chair Gary Gensler will resign on Jan. 20, the agency announced Thursday, paving the way for President-elect Donald Trump to select a replacement immediately. Gensler took over the SEC in 2021, and under his leadership the commission has taken an ambitious but controversial approach to several regulatory issues, including cryptocurrencies. Trump...

The Consumer Financial Protection Bureau on Thursday issued a finalized version of a rule saying it will soon supervise nonbank firms that offer financial services likes payments and wallet apps. Tech giants and payments firms that handle at least 50 million transactions annually will fall under the review, which is meant to ensure the newer entrants adhere to the...

U.S. prosecutors have charged Gautam Adani, India’s second-richest person, with fraud over accusations that he and several alleged co-conspirators sought to pay $250 million in bribes to Indian officials. The U.S. attorney’s office in Brooklyn, New York, accused the executives, most of them Indian, on Wednesday of obtaining funds from investors in the U.S. and...

McDonald’s is preparing 2025 value offerings in a bid to hang onto customers who are fed up with high costs at restaurants. The company is working on a new “McValue” approach for next year that involves keeping the $5 value meal offer it launched this summer on the menu for the first half of the year, along with...

Target reported earnings Wednesday that came in far below Wall Street’s expectations, something the big-box retailer attributed to slower than expected demand. The company announced profits that fell short of forecasts by 20%, its widest miss in two years. Revenues, meanwhile, came in under expectations for the first time in more than a year. Target’s...

The Disney fleet is expanding. Next month, the Disney Treasure cruise ship will make its maiden voyage from Port Canaveral, Florida, to the Caribbean, officially becoming the sixth ship in the company’s lineup. The Treasure, which is 221 feet tall and 1,119 feet long, can carry 4,000 passengers and 1,555 crew members. Like Disney’s other cruise ships,...

Comcast announced a plan Wednesday to spin off most of its cable television networks into a separate publicly traded company. The new company will include the USA Network, CNBC, MSNBC, Oxygen, E!, SYFY and the Golf Channel. Comcast will retain key NBCUniversal assets, including the NBC broadcast network, NBC News, NBC Sports, the streaming service...