It will be built at Factory Zero with the GMC Hummer EVs. Ford talks about the F-150 EV for quite some time already. On the other hand, General Motors was quiet about electric pickup trucks apart from the GMC Hummer EV. That changed with the announcement that the Silverado will have an electric version built […]
A new coalition of small business organizations is urging policymakers to break up Amazon.com Inc. Small Business Rising, which represents grocers, hardware stores, pharmacies and bookstores, on Tuesday laid out a set of goals aimed at reinvigorating U.S. antitrust enforcement, including a call to separate Amazon’s own retail business from the marketplace that hosts third-party […]
Global private equity firm CVC Capital Partners is proposing a deal to privatize Toshiba through a tender offer that is expected to be worth more than $20 billion, Nikkei learned Tuesday. Toshiba CEO and President Nobuaki Kurumatani on Wednesday morning confirmed the report by Nikkei, telling reporters the “offer has come” and that the company’s […]
Amazon CEO Jeff Bezos has come out in support of President Joe Biden’s $2 trillion infrastructure plan, including the corporate-tax hike. “We recognize this investment will require concessions from all sides – both on the specifics of what’s included as well as how it gets paid for (we’re supportive of a rise in the corporate […]
The Supreme Court has sided with Google in its decade-long legal battle with Oracle over the copyright status of application programming interfaces. The ruling means that Google will not owe Oracle billions of dollars in damages. It also has big implications for the broader software industry, since a ruling in the opposite direction could have triggered a […]
The treasury secretary, Janet Yellen, made the case for a global minimum corporate tax rate on Monday as the Biden administration faces opposition to its plans to raise rates on US businesses. Yellen’s comments come as Republicans and some Democrats have pushed back on Joe Biden’s proposed $2.3tn infrastructure investment bill. The bill would be […]
Norwegian Cruise Line CEO Frank Del Rio said Monday he is confident the cruise line operator can safely set sail this summer for the first time in more than a year. Earlier in the day, the company sent a proposal to the U.S. Centers for Disease Control and Prevention on how Norwegian Cruise ships could […]
Goldman Sachs is still bullish on oil and anticipates strong demand that would require OPEC+ putting another 2 million barrels per day (bpd) on the market in the third quarter, after the around 2 million bpd that the alliance and Saudi Arabia decided to return between May and July. “We forecast a larger rebound in […]
Oil prices edged down in early Asian trade on Monday after OPEC+ agreed last week to gradually ease some of its production cuts between May and July. Brent crude futures for June fell 16 cents, or 0.2%, to $64.70 a barrel by 2351 GMT while U.S. West Texas Intermediate crude for May was at $61.32 […]
The dollar was poised to extend gains against major currencies on Monday after the U.S. jobs report at the end of last week showed the nation’s labor market is recovering from the impact of the coronavirus shock. The focus now shifts to data on the U.S. services sector due later on Monday, which is forecast […]
The U.S. bond tantrum is sending a chill through indebted countries which have for years paid less to borrow more. As the American economy powers ahead, government bond yields from Australia to Italy are taking the cue and following those of the U.S. upwards. Those higher costs threaten to undermine a flagging recovery in Europe, […]
LG is exiting the smartphone business, the company confirmed today. The decision will “enable the company to focus resources in growth areas such as electric vehicle components, connected devices, smart homes, robotics, artificial intelligence and business-to-business solutions, as well as platforms and services,” LG said in a statement. Existing phones will remain on sale, and […]
