The recovery is accelerating as stimulus money, Covid-19 vaccinations and business re-openings spur a spring surge in consumer spending, a sharp pullback in layoffs and a bounceback in factory output.466
U.S. stocks climbed as blue-chip companies reported strong earnings and fresh economic data showed a sharp improvement in consumer spending and the labor market.100
The New York bank said it would exit its consumer operations in 13 countries, mostly across Asia, to focus on wealth management and other businesses.6
In addition to imposing financial penalties, the U.S. expels 10 diplomats from the Russian embassy in Washington.
Personal Technology: Joanna Stern
A new privacy feature in Apple’s iOS 14.5 requires apps to request permission to track you. And Facebook isn’t happy about it. WSJ’s Joanna Stern put Facebook CEO Mark Zuckerberg and Apple CEO Tim Cook into the ring to explain why this software update has kicked off a tech slugfest.
Due to variants of the coronavirus, people likely will need a booster shot within a year to suppress the pool of those individuals susceptible to Covid-19, Pfizer Chief Executive Albert Bourla said.
The Kabul government will be on its own once American forces withdraw in September, and could find it hard to hold out for long against the Taliban.
Business & Finance
The company raised $1.08 billion in an IPO Thursday that came as the U.S. is investigating the startup’s ties to China.
That $440 million took a detour, complicating Credit Suisse’s efforts to recover money owed to investors after Greensill collapsed into bankruptcy.
The move for revocation follows a December filing by the office of William Galvin, the secretary of the commonwealth, that accused the brokerage of aggressively marketing to inexperienced investors.
Wendy McMahon and Neeraj Khemlani will share responsibility for CBS News and CBS Television Stations as co-heads and presidents.
Doug Parker says the carrier is working to preserve ballot access in Texas by speaking out publicly and engaging quietly with Republican lawmakers who support tightening voting rules.78
World
Negotiators for the U.S. and Iran are working to revive an international deal aimed at restricting Tehran’s atomic ambitions.
The decision reverses a lower-court ruling that found the practice unconstitutional and sets up a possible challenge in the Supreme Court of Canada.
Buckingham Palace disclosed more details of Prince Philip’s funeral, an event Saturday curtailed by the pandemic. Among changes: no military procession through Windsor, a short guest list and the public will see the ceremonies only on TV.
U.S.
The reports last summer of the alleged bounties shook up U.S.-Russia relations, increased tensions between the U.S. and the Taliban during a troop drawdown and led to bipartisan condemnation over the Trump administration’s inaction.
House Speaker Nancy Pelosi said she backs President Biden’s deliberative approach after progressives introduce a bill to expand the court.
The roughly 5-minute hearing took place Thursday via videoconference with the former Brooklyn Center, Minn., police officer scheduled to next appear in court on May 17.
The force’s inspector general cited poor preparation and inadequate intelligence for its failure to control rioters who attacked the Capitol.
The Paycheck Fairness Act would increase penalties for violations of a federal law that already prohibits wage discrimination on the basis of sex and enhance prohibitions to prevent retaliation against workers who lodge a discrimination complaint.
Life & Arts
New York City transplant Dennis Monks returned to his hometown and purchased a four-story, 2,300-square-foot spread in the building’s former choir loft.
In an HBO drama, Kate Winslet stars as a small-town detective haunted by her tragic past and the unsolved disappearance of a local girl.1
Though obsessed with every other retro design trend, millennials tend to disdain chandeliers. Result: You can pick up a gorgeous antique crystal version for as little as $275.3
The 20th anniversary of the destruction of the Bamiyan Buddhas in Afghanistan reminds us of the imperative of historical preservation.
Video
Apple vs. Facebook: Why iOS 14.5 Started a Big Tech Fight
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Pandemic-Year Taxes: What You Need to Know
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What Coinbase’s Public Debut Means for Bitcoin and Crypto
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