Business news 03 Mar, 2021

Why some Chinese are buying local electric car brands like Nio — instead of Tesla - CNBC

CNBC spoke to some Chinese consumers and asked why they bought electric cars from Tesla competitors Nio, Li Auto and Xpeng.

Elon Musk's SpaceX lands in Austin with new state-of-the-art manufacturing plant - Fox Business

Texas. The aerospace company revealed the plans in a new job posting for an automation & controls engineer, which will focus on Starlink, a global internet service made up of a constellation of satellites.

Dow Jones Futures: Stock Market Rally Test Continues As Nio, Zoom, Target Dive; Vaccine Play Soars Late - Investor's Business Daily

Dow Jones futures: The stock market rally hit resistance at key levels and fell to natural areas of support Tuesday. Ford jumped as Nio, EV stocks sold off.

Microsoft: Chinese Hackers Have Been Exploiting Our Email Product to Steal Data - Gizmodo

In the latest in a string of security-related headaches for Microsoft, the company warned customers Tuesday that state sponsored hackers from China have been exploiting flaws in one of its widely used email products, Exchange, in order to target American comp…

Nordstrom racks up on off-price stores and online sales - Fox Business

Nordstrom Inc on Tuesday reported better-than-expected results for the holiday quarter, aided by a rise in e-commerce sales and growth in its off-price business, Rack.

Biden promises enough coronavirus vaccine for ‘every adult in America’ by the end of May - The Washington Post

Biden is promising vaccines as federal officials worry that states reopening could imperil pandemic progress

Jim Cramer: The stock market is riding on reopening optimism - CNBC Television

Video Clip Sells for $660K a Second - Newser

Sales of 'non-fungible tokens' are exploding

Could California city Petaluma's gas station ban start a new trend? - Fox Business

All eyes are on Petaluma, Calif., a city of approximately 60,000 that voted in February to ban the construction of new gas stations as part of the fight against climate change.

Warren Buffett's 6 rules to stay financially healthy during the pandemic - Yahoo Finance

Buffett has shared these bits of wisdom to protect your money from COVID.

Rocket Companies Is the Latest Short Squeeze Target - Barron's

Trading in Rocket stock was halted multiple times on Tuesday.

As millions of Americans fall behind on mortgages, CFPB nominee Rohit Chopra wants to stave off "looming problems" for homeowners - CBS News

A federal ban on housing foreclosures runs through June, but it's unclear what will happen when it ends.

Hedge fund chief Thomas Sandell pays $105 million to settle New York tax fraud claim - CNBC

Thomas Sandell paid the biggest False Claims Act settlement ever for an individual in New York related to unpaid taxes on hedge fund fees.

Biden vows enough vaccine for all US adults by end of May - Minneapolis Star Tribune

President Joe Biden said Tuesday the U.S. expects to take delivery of enough coronavirus vaccine for all adults by the end of May — two months earlier than anticipated — and he pushed states to get at least one shot into the arms of teachers by the end of Mar…

Dish tries to disrupt SpaceX’s Starlink plans as companies fight at FCC - Ars Technica

Dish is trying to "expropriate the 12 GHz band" for itself, SpaceX tells FCC.

Market Wrap: Bitcoin Continues Choppy in High $40Ks Amid Market Indecision - CoinDesk - CoinDesk

Bitcoin bulls struggle to pare the weekend's losses despite a strong start on Monday.

Sutter to cancel up to 95,000 vaccine appointments in Northern California - SF Gate

This will impact thousands of Bay Area patients.

Zoom Video Communications Stock Slides. Here's What Is Worrying Investors. - Barron's

Analysts are concerned about how fast the company will grow after the pandemic, as well as the stock's valuation.

Stock Market Today: Dow, S&P Live Updates for Mar. 3, 2021 - Bloomberg

At least 8,000 autoworkers in Detroit now eligible to get COVID-19 vaccine - Detroit Free Press

If you live in Detroit, but work at plants outside the city, you still qualify to get a COVID-19 shot, no age restrictions.

A jury says Intel owes $2.18 billion for infringing a zombie chip company’s patents - The Verge

Intel may owe quite a bit of cash to a semiconductor company that hasn’t existed for 20 years. A Texas jury has asked Intel to pay $2.18 billion for infringing two patents owned by VLSI Technology, according to Bloomberg.

Some saw Hitler’s mustache in Amazon’s new logo. Then Amazon made it more square. - The Washington Post

Amazon has updated its app logo for the first time in more than five years, ditching the shopping cart for a box with controversial blue tape.

The 2022 Volvo C40 Recharge Heralds a New Age of Online-Only EV Sales - The Drive

Volvo is taking a typically practical approach to rapid electrification.

A new program can animate old photos. But there's nothing human about artificial intelligence - CNN

Deep Nostalgia is a likely predecessor of technology that could change our reality. And our emotions make it hard to resist.

What Gary Gensler thinks about bitcoin's future - Quartz

Biden's SEC pick says bitcoin is different from other crypto.

Reese's is launching a peanut butter cup without any chocolate - CNN

For the first time in company history, Reese's is launching a peanut butter cup with no chocolate.

Lyft says it just had its best week for rides since pandemic lockdowns began - CNBC

Lyft now expects to manage its adjusted EBITDA loss in the first quarter to $135 million, from the $145 million to $150 million it previously forecast.

Paper Source retail chain files for Chapter 11 bankruptcy protection, will close 11 stores - USA TODAY

Paper Source, which sells greeting cards and custom paper goods, filed for Chapter 11 bankruptcy protection after sales plummeted due to the pandemic.

Los Angeles, Orange Counties Very Close To Less Restrictive Covid-19 Reopening Tier - Deadline

Los Angeles could be next. On Tuesday, seven additional California counties were confirmed to be moving into the red tier of Governor Gavin Newsom’s Covid-19 reopening plan. Those counties had a total population — in 2019 — of over 3 million people, the most …

Coronavirus (COVID-19) Update: March 2, 2021 - FDA.gov

Coronavirus (COVID-19) Update

Biden SEC pick Gensler grilled over bitcoin, GameStop mania and board diversity - CNBC

Gary Gensler, Biden's pick to lead the SEC, said he would tackle cryptocurrency regulation, the "gamification" of trading and board diversity.

Fitch revises metals prices on 'tight market supply,' warns gold price to fall to $1200 by 2023 - Kitco NEWS

U.S. Gasoline Demand Jumps To Highest Since Pandemic Started - OilPrice.com

Despite the ongoing ESG push, institutional investors around the world held as of the end of January 2021 as much as US$1.03 trillion in companies operating in the thermal coal value chain

Doses of AstraZeneca’s Covid-19 Vaccine Pile Up in Europe Amid Government Restrictions - The Wall Street Journal

Germany, Italy and other large European countries are restricting older people from receiving the shot as France loosens rules

Wisconsin reports 324 new cases, 28 COVID-19 deaths - WBAY - WBAY

The 7-day average of 575 cases is the lowest since July 8.

Dr. Oz Saves Man's Life at Newark Airport After He Collapsed, Flatlined - TMZ

Dr. Oz saved a man's life after he collapsed and flatlined at Newark airport baggage claim.

Kohl's better than expected quarter probably does nothing to quiet activist concerns - Yahoo Finance

The new activist investors that have launched an attack on Kohl's are unlikely appeased with the retailer's latest quarter.

Chicago bars and restaurants can stay open until 1 a.m., boost capacity to 50%, Lightfoot announces - Chicago Tribune

Chicago will allow bars and restaurants to boost indoor capacity to 50% and remain open until 1 a.m. in the latest move from Mayor Lori Lightfoot to ease COVID-19 restrictions and help businesses. Lightfoot also will allow liquor stores to sell alcohol until …

Goldman's Chief Lawyer Departs as Senior Executive Exits Grow - Bloomberg Markets and Finance

Nike executive resigns after her son used her credit card to buy $200,000 worth of sneakers for his sneaker-resale business - MarketWatch

Ann Hebert, general manager of the North America region for the global sportswear giant, had been with the company for 25 years

Gensler pledges market structure review after GameStop turmoil - Financial Times

News, analysis and comment from the Financial Times, the worldʼs leading global business publication

Countries are polluting like it’s 2019 again - The Verge

Global greenhouse gas emissions dropped in 2020 because of the COVID-19 pandemic. But after pandemic-related restricts eased, carbon dioxide emissions from energy use rebounded globally and in major economies like China.

These strategies can help the owners of the smallest businesses applying for PPP loans - CNBC

There is just over a week left of priority access to the Paycheck Protection Program's forgivable loans for the owners of the smallest businesses.

Kohl's says it has no plans to sell more real estate and lease it back. Here's why - CNBC

Kohl's said it isn't planning for any further sales of its real estate to then lease it back, despite activists pressuring the company to take this route.

Austin Public Health Considers Lowering Risk Level, But Says It's Too Soon To Return To Normal - KUT

The rolling average for daily coronavirus hospitalizations has dropped below 30 for the first time since mid-November. APH is still waiting to see impacts from February’s winter storm, though.

John Kerry has a warning for Big Oil - CNN

John Kerry had some tough talk for the leaders of Big Oil. The message: embrace clean energy or get left behind.

Bills/Sabres owners sell huge Buffalo sports bar to renowned Upstate NY brewery - newyorkupstate.com

(716) Food & Sport near the KeyBank Center has been closed through the pandemic

The Boeing 737: A Look At The Original, Classic, NG And MAX Series - Simple Flying

CPS Energy uses a college student for weather forecasting. That’s not how other major Texas utilities operate. - KSAT San Antonio

CPS Energy officials confirm they get their meteorology services from a Minnesota-based subscription weather service and from a local contractor, who has been referred to as both a meteorologist data intern and a meteorologist data analyst.

Target Crushes It and Here's My Trade Idea - RealMoney

The real story here is one of terrific comparable sales performance and margin maximization in a pandemic environment....AMD

Instacart raises $265M at a $39B valuation - TechCrunch

On-demand grocery delivery platform Instacart has raised a $265 million funding ground from existing investors, including Andreessen Horowitz, Sequoia Capital, D1 Capital Partners and others. The new funding, which, like its past few rounds, isn’t assigned a …

SPAC Tracker: SPACs to Buy According to Wall Street Experts - TheStreet

These are the top SPAC stocks to watch that could present buying opportunities in the sector including Dune Acquisition, USHG Acquisition and more.

2 Americans Accused Of Helping Carlos Ghosn Escape Are Extradited To Japan - NPR

The father and son arrived in Tokyo after fighting extradition. They're accused of helping former Nissan Motors Chairman Carlos Ghosn flee Japan as he awaited trial.

Royal Caribbean plans for first 'fully vaccinated' cruise in Israel - Fox News

Royal Caribbean announced the cruise, its first-ever from Israel, on Monday, with the brand-new Odyssey set to sail from Haifa for three to seven-night tours of the Greek Isles and Cyprus later this spring. Bookings open on March 9, and are only available to …

Prepare for onslaught of texts and coupons if you get COVID shot at CVS - Daily Mail

Americans can get their vaccines from pharmacies like CVS and Walgreens, but as customers book their appointments they'll also be sharing their data so the retailers can promote their services.

Uber Spins Off Robotic Delivery Unit, Takes Stake in New Startup - Bloomberg

Rocket Lab Is a Mini-SpaceX That Investors Can Buy Today - Barron's

The company is going public through a SPAC and has big ambitions to offer satellite-based services.

Hertz gets bid to purchase company out of bankruptcy for $4.2b - Seeking Alpha

Hertz Global (HTZGQ) received a bid from Knighthead Capital and Certares Management to acquire the rental-car chain out of bankruptcy for as much as $4.2b, according to a...

Charles Koch Is Betting Big on Distressed Real Estate - The Wall Street Journal

His company’s property arm is able to quickly move on projects that might be too expensive or complicated for others

Wall Street ends lower as Apple and Tesla retreat - Reuters

Wall Street ended lower on Tuesday, pulled down by Apple and Tesla, while materials stocks climbed as investors waited for the U.S. Congress to approve another stimulus package.

Brazos, oldest Texas electricity co-op, files for bankruptcy after $2 billion bill - CBS News

Energy group said it won't pass on "unaffordable electric bills" to its members after state's power freeze.

Woman dies from brain haemorrhage in Japan days after vaccine, but link uncertain - Yahoo News

A Japanese a woman in her 60s died from a brain haemorrhage three days after receiving a Pfizer coronavirus vaccination, the health ministry said on Tuesday,...

Twitter Launches Five-Strike System to Ban Users Who Spread Covid-19 Lies - Gizmodo

Twitter will ban users who spread misinformation about the coronavirus pandemic and covid-19 vaccines under a new five-strike system, according to a new blog post from the social media company. Twitter bans all medical information that’s “demonstrably false o…

Seniors can now register for COVID-19 vaccine and wait for appointment call - KATU

The Oregon Health Authority launched a new system Monday to help seniors schedule an appointment for COVID-19 vaccine. The new system will require people to register online through the Get Vaccinated Oregonwebsite. After registration, a list of people will b…

Issues with UT Health Austin’s vaccine signups lead to long lines, canceled appointments - KXAN.com

On Monday, those trying to get a COVID-19 vaccine through UT Health Austin at Gregory Gym faced long lines. Many were turned away from the site, after UT Health says thousands of people who don’t qualify for the vaccine managed to sign up for appointments the…

Video of crowded bar in Fishers prompts investigation - WISHTV.com

FISHERS, Ind. (WISH) — The owners of Ale Emporium in Fishers have …

At least 12 Purdue students could face expulsion after party with 125 people - WISHTV.com

WEST LAFAYETTE, Ind. (WISH) — At least 12 students at …

Twitter now labeling tweets with misinformation about COVID-19 vaccines with new strike system - 9to5Mac

Twitter has announced new labels with useful links from health authorities for tweets with misinformation about COVID-19 vaccines.

New Orleans archdiocese urges Catholics to avoid new Johnson & Johnson vaccine - National Catholic Reporter

The Catholic Archdiocese of New Orleans has declared the COVID-19 vaccine developed by Johnson & Johnson "morally compromised" and asked Catholics to avoid it if given the choice, citing concerns ...

New Johnson & Johnson Vaccine Starts Shipping Across US | TODAY - TODAY