Ford Motor is significantly reducing production at six plants in North America due to the ongoing global shortage of semiconductor chips, including facilities that make highly profitable pick-ups. Measures vary by plant, but range from overtime cancellations to facilities closed for up to three weeks from April to June. Or a combination of both. The…

Kiyoshi Hijiki | Moment | Getty Images Nearly 3 million more business owners claimed a 20% tax deduction on their income last year compared to the previous filing season, according to IRS data. Around 21.2 million tax returns required the “qualified business income” deduction during the tax season last year, which reflected the income for…

A group of black business executives are pleading with business leaders in the US to stand up against efforts to restrict access to voting after Georgia passed a new law that critics say will disproportionately harm color voters. Two of the organizers – Ken Frazier, CEO of Merck, and Ken Chenault, former CEO of American…

A nurse, Cindy Mendez, wearing a protective mask, holds a syringe containing a dose of Pfizer-BioNTech COVID-19 vaccine during the coronavirus disease (COVID-19) pandemic at NYC Health + Hospitals Harlem Hospital in the Manhattan neighborhood of New York City. New York, February 25, 2021. Jeenah Moon | Reuters Pfizer said on Wednesday that its Covid-19…

Medical syringes and small figures of people can be seen in front of the AstraZeneca logo displayed on a screen. On Saturday March 26th 2021 in Dublin, Ireland. NurPhoto | NurPhoto | Getty Images Germany has stopped using the coronavirus vaccine developed by AstraZeneca and Oxford University in the under 60s due to renewed concerns…

New York lawmakers passed a law to legalize recreational marijuana on Tuesday, and Governor Andrew Cuomo said he would sign it. The Senate voted 40-23 to pass the laws. Later that evening, the State Assembly voted 100-49 for the bill. If the bill is signed, the Empire State, along with the District of Columbia, will…

Brazil has just reached a grim milestone for Covid-19, and a Sao Paulo-based reporter sees no improvement in the situation anytime soon. “We have people dying of oxygen starvation, people are literally suffocating,” Patricia Campos Mello, a reporter from Folha de Sao Paulo told CNBC’s The News with Shepard Smith on Tuesday. “There are no…

Pedestrians wearing protective masks walk past a Lululemon store in San Francisco, California on Monday, March 29, 2021. David Paul Morris | Bloomberg | Getty Images Lululemon reported fiscal fourth quarter revenue and earnings on Tuesday that exceeded analyst estimates, fueled by the sportswear maker’s online business and double-digit sales growth in both its women…

American Dream mega mall and entertainment complex in East Rutherford, New Jersey After more than 17 years, it finally opened on October 25, 2019. Then came the coronoavirus pandemic. Timothy A. Clary | AFP | Getty Images According to a report in the Financial Times, lenders supporting New Jersey’s mega-mall American Dream are on the…

Caroline Wanga on stage at the Cannes Lions 2019 in Cannes, France. Richard Bord | Getty Images Entertainment | Getty Images Program Note: The CNBC @ Work Summit will take place this fall on October 13th. Facebook CIO Atish Banerjea, COO / CTO of Bank of America, Cathy Bessant, Sandeep Mathrani, CEO of WeWork, and…