© Reuters. One-Third of U.S. Restaurants Face Permanent Closure This Year (Bloomberg) — A new forecast projects that one in three U.S. restaurants may close permanently this year, showing how the Covid-19 pandemic is decimating an industry that employs millions of Americans. As many as 231,000 of the nation’sRead More →
Consumers face being hit by surging prices for protective gear as face coverings become mandatory for shoppers in England, a consumer group said. U.K. Prime Minister Boris Johnson said on Monday the measure will come into place on July 24, sparking fears that predatory sellers could bump up prices,Read More →
The ride from here could get a lot bumpier after the Dow registered its worst one-day loss since June 11 on Friday, knocking the blue-chip index to its lowest point since May 26, and at least momentarily knocking the wind out of equity investors who may be gradually losing theirRead More →
A judge has ruled the former chief executive of defunct cryptocurrency exchange Mt. Gox, Mark Karpeles, must face a lawsuit alleging fraud filed back in 2014. On June 16, U.S. District Judge Gary Feinerman rejected Karpeles’ motion for summary judgment, rejecting the former Mt Gox head’s assertion that the case’sRead More →
Experts predict that Bitcoin ATMs (BATMs) will face stricter regulations worldwide, with countries including Canada and Germany already moving to tighten up anti-money laundering requirements. A June 2 report from CipherTrace estimates that 74% of transactions made from U.S.-based Bitcoin ATMs were sent out of the country during 2019. TheRead More →
The number of Americans with confirmed case of the coronavirus that causes COVID-19 climbed above 1.8 million on Tuesday, amid concerns that protests about the death of George Floyd last week, and people gathering in groups as lockdowns are lifted, will spark a fresh wave of infections. President Donald TrumpRead More →
2/2 © Reuters. FILE PHOTO: Electricity pylons are seen during sunset in Gavrelle, near Arras, France 2/2 By Stephen Culp (NYSE:) NEW YORK (Reuters) – U.S. utility stocks have started to look like bargains after being considered expensive relative to the broader market for well over a year. Still, theRead More →
One of the largest ASIC mining manufacturers worldwide, Bitmain, has allegedly ousted cofounder Micree Zhan. Regional reports note that he’s been threatened with litigation if he interferes with company operations. According to two local announcements written in Chinese, Bitmain has warned Zhan two times not to intervene with employees. LastRead More →
© Reuters. Airlines face growth warning as virus curtails Singapore Airshow By Jamie Freed and Tim Hepher SINGAPORE (Reuters) – Asian airlines face “drastic” cuts in their planned growth because of the coronavirus crisis, an industry group warned, adding gloom to an already depleted Singapore Airshow as more companies scaledRead More →
3M Co. Chief Executive Mike Roman said Tuesday that his view of weakness in the China business is “changing” because of the coronavirus, as the outbreak of the deadly virus has boosted demand for face masks. The industrial and consumer products maker’s stock MMM, -5.06% took a dive in middayRead More →
While some U.S. lawmakers have branded Qassem Soleimani a terrorist, the late Iranian general’s significance to the Iranian people was on full display on state TV and in the streets of Tehran. Many Iranians reacted with shock and anger to the killing of Soleimani, the leader of the foreign wingRead More →
2/2 © Reuters. Tesla superchargers are shown at a charging station in Santa Clarita, California 2/2 By Jonathan Stempel (Reuters) – A federal judge rejected Tesla (NASDAQ:) Inc’s effort to dismiss claims by two former workers that the California electric car factory where they worked was a hotbed of racialRead More →
(Bloomberg) — Japan’s government is considering holding off on its plan to sell about $10 billion worth of shares in Japan Post Holdings Co. through this fiscal year following scandals involving its insurance unit, according to people familiar with the situation. Concern over corporate governance and the tumbling stock priceRead More →
(Bloomberg) — Some of China’s wealthiest tycoons steered billions of dollars into electric-car companies in order to fuel the country’s dreams of becoming a leader in the field. Now a reckoning may be looming as car sales slow and the government reduces subsidies for the nascent industry. That leaves theRead More →
By Pamela Barbaglia, Stephen Jewkes and Elisa Anzolin LONDON/MILAN (Reuters) – U.S. apparel and footwear conglomerate VF Corporation (NYSE:) and buyout funds Permira and Advent are lining up indicative offers for Italian shoe brand Golden Goose ahead of a mid December deadline, sources familiar with the matter told Reuters. GoldenRead More →
© Reuters. FILE PHOTO: Saudi Aramco logo is pictured at the oil facility in Abqaiq By Saeed Azhar, Hadeel Al Sayegh, Rania El Gamal and Clara Denina DUBAI/LONDON (Reuters) – The army of banks working on Saudi Aramco’s listing will earn combined fees of $90 million or less, according toRead More →
By Subrat Patnaik and Rich McKay (Reuters) – More than half a million homes and businesses in California could lose power this week as utilities including Pacific Gas & Electric (N:) and Southern (NYSE:) California Edison (A:) cut off electricity as a preventive measure against wildfires. Over 308,000 customers inRead More →
The latest gender-parity report from LeanIn.org and McKinsey & Co. reveals a mixed bag for women in the workplace — including an early “broken rung” that hamstrings women as they begin climbing the corporate ladder. The good news: Companies have expanded women’s executive presence, with the share of women inRead More →
By Phuong Nguyen, Alun John and Anshuman Daga HO CHI MINH CITY/HONG KONG/SINGAPORE (Reuters) – Just next to Ho Chi Minh City’s financial district, two dozen street vendors’ stalls display colorful adverts for e-wallets backed by private equity firm Warburg Pincus, ride-hailing firm Grab and Singapore sovereign wealth fund GIC,Read More →
© Reuters. FILE PHOTO: The logo of Ikea is seen outside the Ikea Concept store, run by Inter Ikea brand and concept in Delft By Foo Yun Chee BRUSSELS (Reuters) – IKEA brand owner Inter IKEA could be ordered to pay millions of euros in Dutch back taxes by theRead More →
By Clare Jim and Felix Tam HONG KONG (Reuters) – While months of Hong Kong protests have scared away tourists, sent jitters across the financial center and cast a dark cloud over the local economy, there’s one thing residents of the city are confident they can bank on – sky-highRead More →
© Reuters. FILE PHOTO: Tesla Inc CEO Elon Musk attends the World Artificial Intelligence Conference (WAIC) in Shanghai By Tom Hals WILMINGTON, Del. (Reuters) – A Delaware judge ruled on Friday that Tesla Inc’s (O:) board of directors must defend at a trial Chief Executive Elon Musk’s multibillion dollar payRead More →
“Mark Zuckerberg has repeatedly lied to the American people about privacy. I think he ought to be held personally accountable, which is everything from financial fines to — and let me underline this — the possibility of a prison term.” Those are the words of Sen. Ron Wyden, D-Ore., whoRead More →
Equifax’s data-breach settlement will pay out at least $650 million in restitution to consumers and government fines, but it could also help usher in a new era in identity verification — one that doesn’t include Social Security numbers. The settlement comes after a 2017 security breach that exposed the personalRead More →
Traveling the country, driving past cornfields and mom-and-pop shops until you reach the Grand Canyon. Pulling up the trunk, kicking off your shoes and cracking open a cold one, while dangling your feet into the dusty summer air. Sleeping under twinkling lights. Seems like a picture-perfect life, maybe even oneRead More →
