Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. In today’s business news: There’s a new top cop on Wall Street, the rise of the fake commute and Parler makes a reappearance. WELCOME, SHERIFF GARY Joe Biden just announced a new…

At the end of December, Los Angeles Times Washington Bureau Chief Kimbriell Kelly was looking at getting Moleskine notebooks as gifts for her staff. A couple weeks later, she was procuring goods of a decidedly different kind: gas masks, helmets and body armor for LA Times staff members who will be attending Wednesday’s inauguration of…

Scottish fisherman parked their trucks near UK Prime Minister Boris Johnson’s office at 10 Downing Street on Monday to protest post-Brexit red tape they say has made it almost impossible to sell British seafood to the European Union. Many of them drove several hours from Scotland, where the fishing industry is in crisis because paperwork…

The French government has put an abrupt end to a $20 billion takeover of the country’s biggest retailer by Canada’s largest convenience store operator. In a joint statement on Saturday, French supermarket chain Carrefour and Couche-Tard, the owner of Circle K, said that talks about a €16.2 billion ($19.5 billion) transaction “are no longer continuing.”…

Ford has ordered a month-long production halt at one of its plants in Germany, the latest sign that a global shortage of computer chips is putting carmakers under increasing pressure and threatening their recovery from the pandemic. The US automaker said it would idle its factory in Saarlouis, Germany, from Monday until February 19 because…

Samsung vice chairman Lee Jae-yong is going back to prison, casting the future of leadership at the massive tech company in doubt. The Seoul High Court in South Korea sentenced Lee to 2 1/2 years behind bars on Monday after finding him guilty of embezzlement and bribery. He was taken into custody following the verdict.…

China’s economy grew more than expected last year, even as the rest of the world was upended by the coronavirus pandemic. The world’s second largest economy expanded 2.3% in 2020 compared to a year earlier, according to government statistics released Monday. It’s China’s slowest annual growth rate in decades — not since 1976 has the…

Jamie Lynn Spears called Tesla “a secret cat-killer” and told CEO Elon Musk that he owes her a couple new feline friends. The actress, singer and sister of Britney Spears said in a since-deleted Instagram video that her cats were run over by a Tesla they never heard coming. Teslas, like other electric cars, run quieter…

Chris Cramer, the passionate and forthright leader at the helm of CNN International for 11 years, has died, aged 73. He was an early champion of recognizing the impacts of Post-Traumatic Stress Disorder (PTSD) among journalists and his lasting legacy is an industry with far greater awareness of the dangers journalists face around the world.…

When Costco opened its first store in China in 2019, it wasn’t just the hot rotisserie chickens and discounted Birkin bags that lured frenzied crowds. A fiery, throat-tingling liquor called Kweichow Moutai also flew off shelves. At 1,498 yuan, or $209 for a half-liter bottle, it might not sound like the kind of bargain Costco…

The National Rifle Association of America, the nation’s foremost gun lobby, has filed for voluntary bankruptcy in Texas, the organization said Friday. The group said it plans to leave New York and reincorporate as a Texas nonprofit, in an move it is calling “Project Freedom.” The NRA said it’s in its “strongest financial condition in…

The American Petroleum Institute, the nation’s largest and most powerful oil lobby, is losing one of its biggest members over a disagreement about addressing the climate crisis. France’s Total announced Friday it is quitting the API because of the lobby’s stances on regulation and carbon pricing as well as its support for politicians who oppose…

Now that Covid-19 vaccination efforts are ramping up, local health officials are on the hunt for locations that can quickly be converted into vaccination clinics, and malls across the country, battered by declines in in-person shopping, are starting to play a role. Mall operators are sitting on plenty of abandoned retail space that might be…

US lawmakers are asking for help from travel companies including bus operators, car rental companies and hotels to prevent an attack on the inauguration and investigate last week’s Capitol insurrection. Washington, DC, and states across the country are heightening security and preparing reinforcements this week ahead of potential armed protests from Saturday until at least…

Wells Fargo is still being haunted by its history of ripping off customers. More than four years after the Wells Fargo fake-accounts scandal erupted, the bank reported Friday another $321 million of quarterly losses tied to customer refunds. That brings Wells Fargo’s 2020 total for what it calls customer “remediation” to a staggering $2.2 billion.…

News that President-elect Joe Biden is asking Congress to pass a $1.9 trillion stimulus package would normally give markets a big boost. Not this time. US stocks slid on Thursday, and futures indicate they could lose more ground Friday. The S&P 500 has shed 0.8% this week, setting it up for its first weekly decline…

The Trump administration is inflicting even more damage on Chinese businesses — including smartphone maker Xiaomi — with just days to go before President-elect Joe Biden takes office. The US Defense Department on Thursday added nine Chinese firms, including Xiaomi, to a list of companies the agency claims are owned or controlled by China’s military.…

Petco is hoping the third time is the charm. The 55-year-old pet retailer launched its third IPO in company history Thursday — and this time it’s taking aim at fast-growing online rivals like Chewy. The red-hot IPO market welcomed Petco back to the public markets with open arms. After raising $817 million, Petco’s shares surged…

Law enforcement agencies are rounding up suspected rioters, combing through social media evidence, and uncovering the true depth of the plot to overtake the Capitol and stop the certification of Joe Biden’s election. The story is getting bigger every day. But there is also a concerted effort underway, all across the pro-Trump media landscape, to…

Substack has become synonymous with writers looking to go independent. But for many years prior, there was a different go-to place for self-publishing: Medium. Medium, launched in 2012 by Twitter cofounder Ev Williams, has been the platform of choice for public figures to air newsworthy moments: Hillary Clinton used it to endorse President-elect Joe Biden…

The record stock market run is great news for BlackRock: The owner of the super popular iShares family of exchange-traded funds reported earnings and revenue for the fourth quarter Thursday that easily topped forecasts. BlackRock, the world’s largest money management firm, ended the year with nearly $8.7 trillion in total assets — an increase of…

Christopher & Banks is joining the long list of retailers filing for bankruptcy and disappearing from America’s malls. The womenswear company filed for Chapter 11 on Thursday, a result of “financial distress resulting from the pandemic and its ongoing impact,” it said. Christopher & Banks, which has approximately 400 locations in 44 states, said it…

Costco is closing its photo centers at all of its roughly 800 stores next month, ending a number of services that have a decidedly retro vibe. Four services will no longer be available to shoppers when the centers will shut down on February 14, including ink refills, the ability to take passport photos, photo restoration…

Delta Air Lines closed the books on the worst year in its history. Thursday, Delta reported a record $6.8 billion loss for 2020, excluding special items. Including those items, its net loss for the year was $12.4 billion. A year earlier, Delta had reported record revenue and operating profits. Delta, the first major air carrier…

Stocks rallied to record highs as a mob descended on the US Capitol. But now that President Donald Trump has become the first American president in history to be impeached twice, investors are taking a moment to recalibrate. “Everyone’s trying to balance what this means in the short term,” JJ Kinahan, chief market strategist at…

Big banks, climate activists and banking reform advocates don’t agree on much, but they joined forces to denounce a proposed Trump administration rule that would make it harder for banks to cut ties with the fossil fuel industry. The rule, adopted Thursday by the Office of the Comptroller of the Currency, requires large banks to…

China was already outperforming every other major world economy last year as the coronavirus pandemic upended the globe. It looks like the country’s relatively sure footing also gave it the edge in its trade war with the United States. The world’s second biggest economy closed out 2020 with an overall trade surplus of $78 billion…

Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. In today’s business news: The Trump business backlash continues, there’s a Keurig for ice cream and Las Vegas can’t catch a break. Let’s get into it. TRUMP BACKLASH What a week.…

Billionaire Republican donor and Home Depot co-founder Ken Langone said he feels “betrayed” by President Donald Trump after the attempt to overturn the election, and he vowed to do everything he can to support Joe Biden as the new president. Langone, who voted for Trump in 2016 and gave him credit for improving the economy,…

The incredible stock market surge for Tesla isn’t just making Elon Musk and Tesla investors rich. Traders betting on lithium miners and battery makers are also benefiting from Tesla’s success. Lithium is a key component for batteries in electric cars. The Global X Lithium & Battery Tech ETF, a fund that owns Tesla and other…

Amazon said it is banning QAnon merchandise from its marketplace in response to the extremist group’s role in attacking the US Capitol. The company is in the process of removing QAnon products, but said it may take a few days to complete. QAnon, the far-right conspiracy theory group whose believers view President Donald Trump as…

The world’s largest carmaker is starting to gain ground on Tesla. Volkswagen sold 231,600 battery electric vehicles in 2020, according to figures published by the company on Wednesday. While that’s still less than half the number of sales Tesla made, it represents an increase of 214% on the previous year and shows Germany’s huge auto…

It’s tempting to think now that 2020 is over, the economy will soon snap back to normal. But that’s still far off: Americans aren’t spending as much as they used to. Millions remain unemployed. For an economy that runs on consumer spending, that’s a huge issue. The recovery — and the return to public life…

Faith in massive Covid-19 vaccination efforts has been a key reason stocks have kicked off 2021 by notching a string of record highs. But early evidence shows that the vaccination drive in many countries is stumbling out of the gate, posing a risk to market expectations that the economy — and therefore corporate earnings —…

The world’s largest carmakers are facing a critical shortage of semiconductors that threatens to hamstring production just as the industry tries to stage a comeback from a sales slump caused by the pandemic. Volkswagen, Ford, Fiat Chrysler and Nissan are among major automakers suffering from the global shortage of chips, which are used in a…

The Voice of America has effectively demoted a reporter who tried to ask questions of Secretary of State Mike Pompeo after he delivered a speech praising American freedoms and condemning repressive regimes such as China and Iran. Patsy Widakuswara, who covers the White House, was reassigned on Monday hours after trying to engage with Pompeo,…

General Motors is starting a new vehicle brand to sell electric delivery vans in the United States and Canada beginning in 2021. Called BrightDrop, the new brand has been working with FedEx to test the new delivery system, and FedEx Express will be its first customer. In addition to the vans, BrightDrop will also offer…

PayPal is cutting ties with Christian crowdfunding site GiveSendGo following the January 6 US Capitol siege. The site, which the far-right extremist Proud Boys group has used for fundraising, calls itself the “#1 free Christian Fundraising Site,” and it was used to raise funds for pro-Trump rioters who attended last week’s violent siege. “The account…

Boeing ended its worst year in more than 40 years with its best month of 2020. The company reported that it delivered 39 jets to customers in December — and deliveries are important because that’s when Boeing gets most of the money owed for a plane. But doesn’t change the full year or near-term outlook…

Sheldon Adelson, the chairman and CEO of Las Vegas Sands and a major donor to Republican politicians, died late Monday following complications related to his cancer treatment, his company said. He was 87. Adelson took a leave of absence from Sands last week to resume treatment for non-Hodgkin’s lymphoma, which his aides first disclosed in…

Sheldon Adelson, the chairman and CEO of Las Vegas Sands and a major donor to Republican politicians, died late Monday following complications related to his cancer treatment, his company said. He was 87. Adelson took a leave of absence from Sands last week to resume treatment for non-Hodgkin’s lymphoma, which his aides first disclosed in…

Deutsche Bank will no longer do business with President Donald Trump, a move that will cut off his business from a major source of loans that once helped fund his golf courses and hotels. Germany’s biggest bank has decided to refrain from future business with the president and his company, a person familiar with the…

Secretary of State Mike Pompeo accused the Voice of America news service of “demeaning America” in a speech that a watchdog group criticized as “political propaganda” and a violation of the government-funded agency’s own rules. Pompeo delivered remarks in person to a command audience of VOA staff despite the Covid pandemic, urging them to report…

The Ford Mustang Mach-E won the 2021 North American SUV of the Year Award. The award was presented in an online ceremony Monday along with the North American Truck of the Year and Car of the Year awards. The Mustang Mach-E is Ford’s first electric vehicle designed, from the beginning, to be fully electric. It’s…

A growing number of businesses suddenly want very little to do with Donald Trump after he incited a mob to attack the Capitol. That could make it more difficult for the Trump Organization to do business after he leaves office. “I think it’s a huge problem for him,” said Michael D’Antonio, a CNN Contributor and…

Iconic footwear brand Dr. Martens is considering a listing on the London Stock Exchange amid a bullish outlook for the UK IPO market in 2021. The company, which sells 11 million pairs of shoes a year in more than 60 countries, said in a filing on Monday that an IPO would entail the sale of…

Can you smell what “The Rock” is cooking? The wrestler-turned-actor-turned-entrepreneur is entering the energy drink business with ZOA, a health drink made with natural caffeine and superfoods. The venture partners Dwayne Johnson — aka “The Rock” — with his ex-wife and fellow fitness entrepreneur, Dany Garcia, Garcia’s husband Dave Rienzi and beverage industry veteran John…