US Business

The Defense Department has agreed to remove Xiaomi from a list banning U.S. investment in the Chinese tech giant.

SoftBank Group smashed profit records in its home country, riding a series of blockbuster IPOs to an annual net income of $45.9 billion—the highest ever for any Japanese company.

The Colonial Pipeline shutdown is prompting fears of gasoline shortages, particularly in Southeastern states heavily dependent on the conduit for fuel.

Vice President of Engineering Marian Croak also said CEO Sundar Pichai has committed to boost the budget of a team tasked with evaluating code and product to avert harm, discrimination and other problems with AI.

DarkSide, a ransomware organization that researchers say is likely based in Eastern Europe, says it has no connection to foreign governments. The hack has led to the shutdown of the main pipeline supplying gasoline to the U.S. East Coast.

After the company partnered with Pfizer on a vaccine, investors last year poured $3.7 billion into a sector that has struggled to raise funding in recent years.

The hotel chain posted a quarterly loss of $11 million, though it saw demand in leisure travel pick up momentum, especially in ski and beach resort destinations.

A monthslong rise in used-car sales has left bargain-hunters with limited options on lots across the U.S. as some dealers say they don’t expect that trend to end soon.

Defense officials are considering pulling the plug on the star-crossed JEDI cloud-computing project, which has been mired in litigation from Amazon and faces continuing criticism from lawmakers.

The Pfizer partner says its new Asia headquarters is expected to start production in 2023.