MoneyWatch

Shopify said Tuesday it’s laying off 10% of staff as growth prospects for the e-commerce platform — following a pandemic-driven boom — aren’t panning out the way company officials expected. The layoffs, about 1,000 employees, will happen Tuesday and will mostly impact those working in recruiting, sales and support, CEO …

Twitter’s lawsuit to force billionaire Elon Musk to make good on his promise to buy the social media giant for $44 billion will be resolved in a small but powerful Delaware court that specializes in high-stakes business disputes.  In an early victory for Twitter, that court set an October trial …

Over the past two decades, state lotteries have nearly doubled in size, driving a multibillion-dollar wealth transfer from low-income U.S. communities to powerful multinational companies. A nationwide investigation of state lotteries by the Howard Center for Investigative Journalism at the University of Maryland found that lottery retailers are disproportionately clustered …

The Louvre, The Museum of Modern Art and … the Hard Rock? Hoping to expand their appeal beyond the slot machine and buffet crowd, some casinos are turning to fine art galleries or exhibitions to bring in new business from customers who might not otherwise visit a gambling hall. In …

Signs are mounting that the hottest job market in a generation is starting to cool off. With the crypto bubble popping, technology companies pulling back on hiring and consumers increasingly skittish about spending, economists believe that the historically low unemployment rate is likely to go up — recession or no …

Airlines cancelled nearly 1,200 U.S. flights on Sunday and Monday, leaving passengers stranded and luggage piled up at airports across the the country. Thousands more trips were scrapped across the globe as the summer travel season kicks off.  Now for the bad news: Airline analysts say delays and cancellations are …

Stocks dived on Friday after new government data showed that inflation in May jumped 8.6% from a year ago, the steepest increase in consumer prices since 1981. The S&P 500 dropped 117 points, or 2.9%, to 3,901. The Dow Jones industrial Average dropped 2.7%, and the tech-heavy Nasdaq sank 3.5%. …

Motorists across the U.S. are grappling with gasoline prices that are reaching new records almost daily. But the pain isn’t evenly distributed across the nation. Take the handful of locations where a gallon of regular fuel now costs as much as or more than the federal minimum wage of $7.25. …

Bank of America is giving its lowest-paid employees a bump in wages to $22 an hour, equivalent to nearly $46,000 a year for full-time workers. The Charlotte, North Carolina-based company’s pay increase bolsters the earnings of a large portion of its 174,000 U.S. employees, and follows wage hikes that started …

Jeff Bezos is bashing Joe Biden over inflation, taking to Twitter to blame the president for the sharpest spike in prices in 40 years and saying that the soaring costs facing Americans amount to “regressive tax that most hurts the least affluent.” The post from Bezos — whose estimated $137 …