Business news 04 Mar, 2021
Texas begins naming electricity firms overdue on winter crisis bills - Yahoo FinanceYahoo Entertainment
Eight energy companies have failed to pay nearly $1 billion for power and services during February's deadly power blackout in Texas, the state's grid...
Biden faces backlash over small business rescue overhaul - POLITICOPolitico
The backlash is the latest in a series of controversies around the SBA's handling of the program.
Sinclair to lay off hundreds of employees, citing 'profound impact' pandemic has had on its business - CNNCNN
Citing the coronavirus pandemic, the Sinclair Broadcast Group said on Wednesday that it will reduce its workforce by approximately 5%, amounting to hundreds of layoffs across the company.
Super Bowl LV Was Not A COVID-19 Super-Spreader, Officials Say - TMZTMZ
Dr. Fauci is gonna sleep well tonight -- officials in Florida have determined Super Bowl LV was NOT a hotspot for COVID-19 ... with just 53 confirmed cases reported in the weeks following the game.
North America's First Bitcoin ETF Now Holds Over 11000 BTC – Markets and Prices Bitcoin News - Bitcoin NewsBitcoin.com
The first bitcoin exchange-traded fund (ETF) in North America now holds over 11,000 bitcoins. Purpose Bitcoin ETF saw strong interest at launch. An ETF researcher explained that the surge in interest was evidence of some combination of pent-up demand, the pri…
Elon Musk’s SpaceX Starship rocket lands successfully but then explodes - The Washington PostThe Washington Post
U.S. issues warning after Microsoft says China hacked its mail server program - NBC NewsNBC News
The U.S. has issued an emergency warning after Microsoft said it caught China hacking into its mail and calendar server program, called Exchange.
Postal Service to consolidate postal districts, offer early retirement to non-union workers - Fox BusinessFox Business
The U.S. Postal Service(USPS) said on Wednesday it is offering early retirement to non-union employees as it consolidates postal districts in an effort to stem billions in red ink.
Peak Design claims Amazon copied its Everyday Sling bag - The VergeThe Verge
Accessory maker Peak Design thinks Amazon copied its Everyday Sling bag, and the company made a video imagining how it happened. The bags share a name and several features, and Peak Design believes Amazon has infringed on its intellectual property.
Team Biden surprises with positive vaccine news | TheHill - The HillThe Hill
President Biden dramatically changed expectations on the supply of vaccines and the trajectory of...
Okta acquires cloud identity startup Auth0 for $6.5B - TechCrunchTechCrunch
As Okta announced earnings today after the bell, it revealed that it’s buying cloud identity startup Auth0 for a hefty $6.5 billion. The company had a valuation of $1.92 billion when it raised $120 million led by Salesforce Ventures last July. With Auth0, Okt…
Fiat Chrysler spent over $300 million on green credits in Europe last year — mostly from Tesla - CNBCCNBC
The automaker committed to spend about $2 billion on environment related fines and regulatory credits through the end of 2021.
Cathie Wood's highflying ARK ETF just entered a bear market — a sign of the times? - MarketWatchMarketWatch
ARK Investment, one of the fastest-growing fund managers in 2020, just saw its flagship company enter a bear market, highlighting a brisk selloff in growthy,...
CFPB nominee sounds alarm on possible 'avalanche of defaults' after student loan payments restart - Yahoo MoneyYahoo Entertainment
Biden’s nominee to America’s consumer watchdog agency, Rohit Chopra, told Congress that he was concerned about how servicers handle student loan borrowers...
Melvin Capital posts return of more than 20% in February, sources say - CNBCCNBC
The hedge fund at the center of the GameStop saga gained more than 20% in February.
Dow Jones Reverses Lower As Nasdaq Leads Sell-Off; These Stocks Fall On Earnings - Investor's Business DailyGoogle News
Amazon in Talks to Carry Many NFL Games Exclusively on Prime Video - The Wall Street JournalThe Wall Street Journal
TV networks are expected to pay nearly twice as much for new rights to Sunday, Monday games
Disney shuttering at least 20% of Disney Stores as it shifts focus to e-commerce - CNBCCNBC
Disney is closing 20% of its brick-and-mortar Disney Stores before the end of the year as it shifts more focus to its e-commerce business.
Parler sues Amazon (again), claims AWS ban sank a billion-dollar valuation - Ars TechnicaArs Technica
The lawsuit is dead. Long live the lawsuit.
Reese’s New Peanut Butter Cup Is (Almost) All Peanut Butter - The New York TimesNew York Times
After decades of touting the taste of two flavors together, Hershey’s will release a version without chocolate.
Snowflake Reports Financial Results for the Fourth Quarter and Full Year of Fiscal 2021 - Business WireBusiness Wire
Snowflake (NYSE: SNOW), the Data Cloud company, today announced financial results for its fourth quarter and full year of fiscal 2021, ended January 3
Wendy's went all in on breakfast. It's paying off - CNNCNN
People are eating at home more. But Wendy's says they're still showing up for breakfast.
Tank Noodle Pays Out Nearly $700000 to Employees After Federal Wage Theft Investigation - Eater ChicagoEater
The U.S. Department of Labor uncovered multiple illegal wage and overtime practices at the restaurant
New Yorkers will have to flash 'COVID-19 passport' to enter sports arenas and theaters - Daily MailDaily Mail
New Yorkers will have to flash a 'COVID-19 passport' showing either a negative test result or a vaccination if they want to enjoy a sporting event or catch a movie under a new pilot program.
The future of the Alamo Drafthouse in the Mission is in jeopardy - SFGateSFGate
The Austin-based chain announced the closure of three locations.
King Arthur Baking Company sees flour sales up 58% year-over-year amid pandemic - Yahoo FinanceYahoo Entertainment
Karen Colberg, King Arthur Baking Company Co-CEO, joins Yahoo Finance’s Alexis Christoforous to discuss the company’s spike in sales amid the pandemic.
How to buy a home with no down payment - CNNCNN
As home prices continue to rise, affording a down payment has become a bigger hurdle for prospective home buyers. But there are a few options that can help: government-backed loans that allow borrowers to buy a home with little or even no money down.
GM extends production shutdown into April due to semiconductor chip shortage - Detroit Free PressDetroit Free Press
The assembly lines at three of GM's plants will remain silent as the auto industry continues to face a shortage of semiconductor chips for parts.
Major Utilities Are Gearing Up to Install EV Charging Stations Across 16 States - GizmodoGizmodo.com
It could soon become a lot easier to take an electric car on some pretty cool road trips. A group of powerful utilities said Tuesday that they’re teaming up to make chargers for electric cars more accessible on highways.
U.S. economy got off to modest start in 2021, Fed says - ReutersReuters
The U.S. economic recovery continued at a modest pace over the first weeks of this year, with businesses optimistic about the months to come and demand for housing "robust," but the job market showing only slow improvement, the Federal Reserve reported on Wed…
Why Market Investors Are Now Troubled by Signs of Surging Growth - The New York TimesNew York Times
The markets are stressed at the prospect of an economic rebound, which is forcing investors to reassess their holdings.
Ford delays thousands of Mustang Mach-E SUV deliveries - The VergeThe Verge
Ford says the deliveries of some 4,500 Mustang Mach-E SUVs are being delayed, which is more than twice as many than have been delivered to date. The company is giving customers free charging and covering some payments to make up for it.
Walmart makes $350B pledge to support US manufacturing - Fox BusinessFox Business
The company will focus its investment on domestic manufacturers that produce plastics, textiles, small electrical appliances, food processing, and pharmaceutical and medical supplies.
Some US bishops discourage Catholics from getting Johnson & Johnson vaccine if others are available - CNNCNN
As officials and health experts race to get Americans vaccinated against Covid-19, some Catholic bishops have weighed in to discourage Church members from getting the latest, single-shot vaccine from Johnson & Johnson when alternatives are available.
SoftBank-backed Greensill Capital is on the brink. 50,000 jobs could be at risk - CNNCNN
The future of Greensill Capital, a UK financial startup backed by SoftBank, has been thrown into doubt after German regulators shuttered a bank it operates, the latest twist in an unfolding corporate collapse that could put 50,000 jobs at risk.
SEC focuses attention on conflicts of interest in financial advice for seniors, retirement savers - CNBCCNBC
The SEC is focusing on conflicts of interest among financial advisors and brokers this year, according to its list of examination priorities for 2021.
House Energy and Commerce leaders unveil sweeping climate change legislation - POLITICOPolitico
The 981-page bill calls for a federal clean energy standard that sets an interim goal of 80 percent clean electricity by 2030 and 100 percent by 2035.
Lyft stock jumps as much as 11% after coming off strongest week since lockdowns began - CNBCCNBC
Uber shares also saw a boost following Uber's announcement.
VA Medical Center opens up COVID-19 vaccinations to veterans of all ages - WMUR ManchesterWMUR Manchester
COVID-19 vaccinations have been opened up to all New Hampshire veterans enrolled in Veterans Affairs Medical System, regardless of age.
2 children seriously injured in crash at Walmart parking lot in Glendale - AZFamilyAZFamily
One child was killed and another was seriously injured in a crash at a Walmart parking lot in Glendale Wednesday morning.
Japanese billionaire invites 8 people to join SpaceX mission around the Moon - CNNCNN
Japanese fashion mogul Yusaku Maezawa, who first announced his intention in 2018 to take a group of artists with him on a six-day trip around the Moon, said Tuesday that he's inviting the public to apply to fill eight open seats on the mission now slated to t…
UPDATE 1-Boeing-backed Aerion says NetJets takes purchase rights for 20 supersonic jets - Yahoo FinanceYahoo Entertainment
Boeing Co-backed supersonic jet maker Aerion said on Wednesday Berkshire Hathaway's private aircraft firm, NetJets, has obtained purchase rights for 20 of...
FedEx pledges $2 billion toward carbon-neutral operations by 2040, aims for all-electric fleet - CNBCCNBC
Logistics giant FedEx said on Wednesday that it aims to replace all of its parcel pickup and delivery vehicles with a sustainable electric fleet by 2040.
The Venetian, Palazzo, Sands Expo sold for $6.25 billion on the Las Vegas Strip - Eater VegasEater
Two companies made an offer to purchase the Las Vegas casino giant
Tesla Full Self-Driving Subscriptions Launching in Q2, Musk Says - Motley FoolMotley Fool
Characteristically, the famous CEO didn't provide any details.
L.A., O.C. counties reopening economies: What to know - Los Angeles TimesLos Angeles Times
Los Angeles and Orange counties could soon move into the red tier, allowing some in-person school and more indoor business operations to resume.
Exxon, Once a Skeptic, Sees Profit in Capturing Carbon Emissions - The Wall Street JournalThe Wall Street Journal
Oil giant had been pessimistic about economic prospects of the technology but now wants to commercialize carbon capture and storage
Kroger to continue requiring masks at US supermarkets despite Texas, Mississippi lifting mandates - Fox NewsFox News
The Kroger Family of Companies, which make up America’s largest chain of grocery outlets, has announced its continued mask requirements — of both employees and customers — despite the recent reversal of COVID-safety policies in two states.
These SPAC stocks are trading at the highest premiums, so they better deliver with good deals - CNBCCNBC
A handful of recent blank-check companies are trading more than 40% above their initial public offering price, according Goldman Sachs data.
Oil Prices Falter On Colossal Crude Inventory Build - OilPrice.comOilPrice.com
Oil prices fell on Wednesday morning following an exceptional EIA data release that reported wild swings in crude and fuel inventories, caused by the Texas freeze
Senseonics Holdings, Inc. Common Stock's Earnings: A Preview - Yahoo FinanceYahoo Entertainment
On Thursday, March 04, Senseonics Holdings, Inc. Common Stock (AMEX:SENS) will release its latest earnings report. Check out Benzinga's preview to understand...
Up to 90,000 second-dose vaccination appointments through Sutter in jeopardy - KCRA SacramentoKCRA Sacramento
Health system cites ongoing lack of COVID-19 vaccine supply
SpaceX hints at dedicated Starlink factory in Austin, TX - TeslaratiTeslarati
It appears that SpaceX is looking to establish a dedicated manufacturing facility for its Starlink satellite internet in Austin, Texas. This was hinted at in a job listing from the Elon Musk-led private space firm for an Automation & Controls Engineer, which …
2022 Volvo C40 Recharge is an electric crossover coupe that will only be sold online - CNETCNET
Essentially an XC40 with a sloping roofline, the C40 is also a harbinger of how Volvo plans to sell EVs going forward.
How Will The Biden Administration Affect BTC? - Bitcoin MagazineBitcoin Magazine
How will a Democratic administration in the U.S impact bitcoin regulation and the BTC price over the next four years?
The Michaels Companies Enters Into a Definitive Agreement to Be Acquired by Funds Managed by Apollo Global Management - Business WireBusiness Wire
The Michaels Companies (NASDAQ: MIK) (“Michaels” or “the Company”) and funds managed by affiliates of Apollo Global Management, Inc. (NYSE:APO) (toget
Here Are the Biggest NFT Crypto Collectible Sales in the Last Month - DecryptDecrypt
NFT prices are rocketing, with the most desirable crypto collectibles selling for hundreds of millions of dollars.
Oscar Health prices IPO at $39 and secures a $9.5B valuation - TechCrunchTechCrunch
Late last night Oscar Health, a tech-enabled medical insurance provider, priced its IPO at $39 per share. The final price came in $1 per share above its raised IPO guidance; Oscar Health had originally targeted a $32-$34 per-share IPO price. Some 37,041,026 s…
Is a Surprise Coming for Costco (COST) This Earnings Season? - Yahoo FinanceYahoo Entertainment
Costco (COST) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
Universal Orlando resumes work on Epic Universe, resort’s 4th theme park - WKMG News 6 & ClickOrlandoWKMG News 6 & ClickOrlando
Work is resuming on Universal Orlando Resort’s Epic Universe.
Amazon quietly updates mobile app icon that drew comparisons to Hitler mustache - USA TODAYUSA Today
Amazon has apparently updated the icon for its mobile app that some claimed resembled the face of Adolf Hitler.
Ocugen stock soars after partner Bharat Biotech COVID-19 vaccine candidate shows 81% efficacy - MarketWatchMarketWatch
Shares of Ocugen Inc. undefined soared 31.0% in premarket trading Wednesday, after the biopharmaceutical company said its co-development partner Bharat...
Girl Scout cookie milkshakes on menu at a Michigan bakery for one weekend only - MLive.commlive.com
The Girl Scout cookie shake flavors include Thin Mint, Tagalong and Samoa.
Private employers added back 117,000 jobs in February, missing expectations: ADP - Yahoo FinanceYahoo Entertainment
ADP released the results of its February private payrolls report Wednesday morning.
DISH, DraftKings stocks rally after app integration agreement - MarketWatchMarketWatch
DISH Network Corp. undefined and DraftKings Inc. undefined announced Wednesday an agreement in which DraftKings' fantasy experiences and sportsbook will be...