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Money & Markets

Tesla hits record profit despite parts shortage, ship delays

DETROIT — Record electric vehicle sales last summer amid a shortage of computer chips and other materials propelled Tesla Inc. to the biggest quarterly net earnings in its history. The company said Wednesday that it made $1.62 billion in the third quarter, beating the old record of $1.14 ...

Netflix posts higher 3Q earnings, solid subscriber growth

Netflix posted sharply higher third-quarter earnings Tuesday thanks to a stronger slate of titles, including “Squid Game,” the dystopian survival drama from South Korea that the company says became its biggest-ever TV show. The company has ramped up production, rebounding from ...

GameStop mania severely tested market system, regulator says

NEW YORK — The U.S. stock market certainly shook when hundreds of thousands of regular people suddenly piled into GameStop early this year, driving its price to heights that shocked professional investors. But it didn’t break. That’s one of the takeaways from a report by the Securities ...

Biden signs debt limit hike, but December standoff looms

WASHINGTON — President Joe Biden on Thursday signed into law a bill raising the nation’s debt limit until early December, delaying the prospect of an unprecedented federal default that would cause economic disaster. The House passed the $480 billion increase in the country’s borrowing ...

Social Security checks getting big boost as inflation rises

WASHINGTON — Millions of retirees on Social Security will get a 5.9 percent boost in benefits for 2022. The biggest cost-of-living adjustment in 39 years follows a burst in inflation as the economy struggles to shake off the drag of the coronavirus pandemic. The COLA, as it’s commonly ...

House sends debt limit hike to Biden, staving off default

WASHINGTON — Members of the House on Tuesday pushed through a short-term increase to the nation’s debt limit, ensuring the federal government can continue fully paying its bills into December and temporarily averting an unprecedented default that would have decimated the economy. The $480 ...