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Money & Markets

Salesforce buying work-chat service Slack for $27.7 billion

SAN RAMON, Calif. — Business software pioneer Salesforce.com is buying work-chatting service Slack for $27.7 billion in a deal aimed at giving the two companies a better shot at competing against longtime industry powerhouse Microsoft. The acquisition announced Tuesday is by far the ...

Unveiling economic team, Biden pledges, ‘Help is on the way’

WILMINGTON, Del. — President-elect Joe Biden on Tuesday introduced top advisers he says will help his administration rebuild an economy hammered by the coronavirus pandemic, declaring, “I know times are tough, but I want you to know that help is on the way.” Biden said he’d chosen a ...

Powell says pace of economic improvement has moderated

WASHINGTON — Federal Reserve Chairman Jerome Powell says that the pace of improvement in the economy has moderated in recent months with future prospects remaining “extraordinarily uncertain.” In remarks released by the Fed on Monday, Powell said that the increase in new COVID-19 cases ...

AstraZeneca manufacturing error clouds vaccine study results

LONDON — AstraZeneca and Oxford University on Wednesday acknowledged a manufacturing error that is raising questions about preliminary results of their experimental COVID-19 vaccine. A statement describing the error came days after the company and the university described the shots as ...

Picture of US economy is worrisome as virus inflicts damage

WASHINGTON — Gripped by the accelerating viral outbreak, the U.S. economy is under pressure from persistent layoffs, diminished income and nervous consumers, whose spending is needed to drive a recovery from the pandemic. A flurry of data released Wednesday suggested that the spread of the ...

Left for dead, twice, RadioShack gets another shot online

SILVER SPRING, Md. — RadioShack, a fixture at the mall for decades, has been pulled from brink of death, again. It’s the most prized name in the basket of brands that entrepreneur investors Alex Mehr and Tai Lopez have scooped up since the coronavirus pandemic bowled over the U.S. retail ...