Month: July 2022
Shares of EV maker Canoo are surging after Walmart agrees to buy 4,500 electric delivery vans
Walmart to Purchase 4,500 Canoo Electric Delivery Vehicles to be Used for Last Mile Deliveries in Support of Its Growing eCommerce Business Courtesy: Canoo | Walmart Electric vehicle startup Canoo said Tuesday Walmart has agreed to buy at least 4,500 of its upcoming electric delivery vans, in a significant win for the embattled vehicle maker. […]
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Susquehanna downgrades JetBlue, cites struggles with cost structure
JetBlue could continue to struggle with its cost structure even if it acquires Spirit Airlines , according to Susquehanna Financial Group. Analyst Christopher N. Stathoulopoulos downgraded shares of JetBlue to neutral from positive, saying in a Tuesday note that the airline stock has struggled with unit costs, and may continue to do so after the […]
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Spotify buying Heardle, the Wordle-inspired music game
Onur Dogman | LightRocket | Getty Images Spotify announced Tuesday it’s acquiring Heardle, a music recognition trivia game that’s shot up in popularity in the past year, for an undisclosed amount. The deal will push Spotify further into its mission to become a more interactive app, as it invests in video, livestreaming and podcasts in […]
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Norwegian oil giant Equinor to buy U.S.-based battery storage firm
Although it is involved in renewable energy projects, Equinor is a major producer of fossil fuels. The Norwegian state has a 67% holding in the company. Hakon Mosvold Larsen | Afp | Getty Images Norway’s Equinor is to acquire U.S.-based battery storage developer East Point Energy after signing an agreement to take a 100% stake […]
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Founders of bankrupt crypto hedge fund 3AC go missing, as investors try to recoup assets
The entire stablecoin market is now worth more than $160 billion. Justin Tallis | AFP via Getty Images The co-founders of failed crypto hedge fund Three Arrows Capital appear to be on the run from creditors, according to court documents recently filed in New York. Lawyers representing the creditors say the physical whereabouts of Zhu […]
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Jan. 6 committee hearing to examine the role extremist groups played in the Capitol riot
The House select committee investigating the Jan. 6 riot is poised Tuesday to show how domestic violent extremist groups helped fuel the attack on the U.S. Capitol as part of former President Donald Trump’s campaign to try to overturn his loss to President Joe Biden. The committee’s seventh public hearing will focus on how Trump’s […]
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Electric vehicle startup Lordstown Motors names new CEO following Foxconn deal
Signage outside Lordstown Motors Corp. headquarters in Lordstown, Ohio, on Saturday, May 15, 2021. Dustin Franz | Bloomberg | Getty Images Electric vehicle startup Lordstown Motors said Tuesday that its president, Edward Hightower, will be its new CEO, effective immediately. He replaces Daniel Ninivaggi, who moves into a strategic role as the company’s executive chairman. […]
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5 things to know before the stock market opens Tuesday
People walk by the NYSE in New York City. Spencer Platt | Getty Images News | Getty Images Here are the most important news items that investors need to start their trading day: 1. Futures slide Stock futures fell Tuesday morning, setting up a second straight day of losses. Markets are coming off a winning […]
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The euro is near parity with the U.S. dollar: Here’s how travelers can take advantage of the exchange rate
A customer reaches down to pick up a bottle of water from a street vendor in Paris on June 17, 2022. Stefano Rellandini | Afp | Getty Images The value of the euro relative to the U.S. dollar has sunk near a two-decade low — and that’s good news for Americans traveling to Europe this […]
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Stocks making the biggest moves premarket: PepsiCo, Gap, Peloton and others
Check out the companies making headlines before the bell: PepsiCo (PEP) – The beverage and snack giant reported an adjusted quarterly profit of $1.86 per share, 12 cents above estimates, and revenue topped Wall Street forecasts. The company also raised its full-year forecast as consumer demand holds up even as prices rise. PepsiCo gained 1.2% […]
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