Business news 17 Feb, 2021
Ford invests $1 billion in German plant, targets move to 'all-electric' passenger vehicles in Europe by 2030 - CNBCCNBC
Alongside passenger cars, Ford wants its commercial vehicle offering to focus on low and zero emission tech too.
The Texas power grid failed mostly due to natural gas. Republicans are blaming wind turbines. - Yahoo NewsYahoo Entertainment
As Texas on Tuesday entered its third night with sub-freezing temperatures and 3.3 million customers without electricity, the operator of the state's unique ...
Bitcoin Hits New High Above $51K, Shrugging Off Rising Bond Yields - CoinDesk - CoinDeskCoinDesk
Bitcoin's dizzying bull run continues, with prices hitting a new high over $51,000 – despite an uptick in U.S. government bond yields.
IBM is one of 20 companies joining The Climate Pledge, a commitment to go green started by Amazon and Jeff Bezos - CNBCCNBC
Another 20 companies joined The Climate Pledge, a public commitment to "go green" launched by Amazon and Jeff Bezos in 2019.
Epic Games takes Apple fight to EU antitrust regulators - Fox BusinessFox Business
The two companies have been locked in a legal dispute since August last year
Warren Buffett's Berkshire Cuts Apple Stake And Buys These Drugmaker, Telecom Stocks Instead - Yahoo FinanceYahoo Entertainment
Berkshire Hathaway Inc (NYSE: BRK-A) (NYSE: BRK-B) cut its positions in Apple Inc (NASDAQ: AAPL) and piled on stocks of drug, telecom, and oil companies in...
Google inks landmark agreements with Australian media giants - CNETCNET
The deals Google is cutting in Australia could change how it treats news outlets around the world.
Citibank can't get back $500 million it wired by mistake, judge rules - KSL.comKSL.com
After committing one of the
Orleans, Northshore cancel rolling power outages | wwltv.com - WWLTV.comWWLTV.com
This is due to the cold temperatures causing an increased use of power which is causing an overload of the power grid.
Energy companies temporarily use 'forced outages' in Arkansas - THV11.com KTHVTHV11.com KTHV
Entergy Arkansas announced that there would be "forced outages" and other energy companies in the state announced similar outage plans.
‘Strong possibility’ for more rolling power outages overnight, Wednesday morning; Evergy on standby - WDAF FOX4 Kansas CityWDAF FOX4 Kansas City
KANSAS CITY, Mo. — Evergy and Independence Power and Light are warning customers that there’s a strong possibility for more rolling power outages overnight into Wednesday morning. The Southwest Power Pool, the organization that controls the power grid for mor…
New York sues Amazon alleging ‘flagrant disregard’ of health standards at warehouses - The Washington PostThe Washington Post
New York Attorney General Letitia James accused Amazon of failing to adequately protects its warehouse workers from covid-19 and retaliating against employees who raised concerns.
Hacker claims to have stolen files from law firm tied to Trump: WSJ | TheHill - The HillThe Hill
A hacker is claiming to have stolen files from prominent law firm Jon...
SpaceX reportedly raised the best part of a billion dollars to fund future missions - The VergeThe Verge
SpaceX reportedly raised $850 million dollars from investors, giving the company cash to continue with it’s Starship and Starlink projects, which will likely cost a lot more money before they start making any.
Samsung Develops Industry's First High Bandwidth Memory with AI Processing Power - Samsung Global NewsroomSamsung.com
The new architecture will deliver over twice the system performance and reduce energy consumption by more than 70%
How China is devastating Australia's billion-dollar wine industry - CNNCNN
South Australian winemaker Jarrad White spent almost a decade building his business in China. Then, in a matter of months, it all fell apart.
Why did electric grids buckle under intense cold? Here’s what’s to blame — and not - Kansas City StarGoogle News
Californians are being asked to conserve energy to help Texas and the Midwest - San Francisco ChronicleSan Francisco Chronicle
The California Independent System Operator urged residents of the state to voluntarily...
Arne Sorenson, CEO who grew Marriott into world’s largest hotel chain, dies at 62 - The Washington PostThe Washington Post
The son and grandson of Lutheran ministers, he worked as a Washington lawyer before being recruited to the hotel industry by Marriott’s CEO.
McLaren drops the V8, moves to V6 plug-in hybrid for its next supercar - Ars TechnicaArs Technica
It's the first car to use McLaren's new V6, as well as its new MCLA platform.
Alden Global Capital Agrees to Buy Rest of Tribune Publishing - The Wall Street JournalThe Wall Street Journal
Hedge fund to pay $17.25 a share in deal that values the newspaper publisher around $630 million
Travis County judge signing order to turn off outside lighting, prohibit price gouging - KVUE.comKVUE.com
Judge Andy Brown's order comes after many Central Texans have been without power for more than a day.
Thousands of Nebraskans impacted by rotating power outages, companies say it was out of their control - KOLN1011now
Thousands of Nebraskans woke up this morning without power with LES and NPPD being required to run rotating outages. It comes as the Central U.S. is experiencing extreme cold and many states are struggling to keep up with the demands.
Strain on energy grid caused by record cold leads to rolling blackouts in some eastern Iowa communities - KCRGKCRG
The rolling blackouts happening across much of the central United States due to record cold are now impacting some communities in Eastern Iowa.
Coronavirus vaccine shipments face ‘widespread delays’ because of winter storm - The Washington PostThe Washington Post
Hazardous conditions are slowing major distribution hubs and causing ripple effects for scheduling appointments and monitoring storage sites.
Occidental declares force majeure on Permian Basin operations - Seeking AlphaSeeking Alpha
Occidental Petroleum (OXY) has told buyers that it will be forced to curtail oil deliveries from the Permian Basin region due to complications from the historic Texas freeze, in the...
Jeff Bezos overtakes Elon Musk to reclaim spot as world's richest person - CNBCCNBC
Musk saw his net worth slide by $3.9 billion on Tuesday as Tesla shares closed at $796.22, down more than 2.4%.
Bill Gates roasted for saying rich countries should eat '100% synthetic beef' - MarketWatchMarketWatch
This is one step to tackle climate change discussed in the Microsoft founder’s new book ‘How to Avoid a Climate Disaster’
Black McDonald’s franchise owner files racial discrimination lawsuit against fast-food giant - WJW FOX 8 News Clevelandfox8.com
Former pro-baseball player Herb Washington, who built the largest Black-owned McDonald’s franchise operation in the nation, filed a civil rights suit Tuesday against the fast-food giant.
Winter freeze drives up gas prices — with higher costs yet to come - NBC NewsNBC News
An Arctic blast has shuttered some key oil refineries, helping push the average price at the pump to $2.53 a gallon, up nearly 15 cents from last month.
How soon will COVID-19 vaccines return life to normal? - Science MagazineScience Magazine
The shots are beginning to have a societal impact, but herd immunity is a distant dream
Indoor Dining, Drinking Expands in Chicago, Lightfoot Announces - WTTW NewsWttw.com
Chicago officials announced Tuesday they will allow indoor dining and drinking at bars and restaurants to operate at 40% of their normal capacity, or no more than 50 people.
NEW: CenterPoint Energy states power outages 'could last several more days'; more than half of customers still without power - Community Impact NewspaperCommunity Impact Newspaper
Hotel Henry ending business operations due to pandemic - WIVB.com - News 4WIVB.com - News 4
BUFFALO, N.Y. (WIVB)– Hotel Henry Urban Resort Conference Center released a statement Tuesday saying it will cease operations effective February 27 citing a crippling pandemic environment. With the ongoing restrictions, businesses face during the pandemic, Su…
Amazon Completes Purchase of Shopify Competitor Selz - The Wall Street JournalThe Wall Street Journal
Web retailing giant had formed team to study Shopify amid growing competition for smaller merchants creating online stores
Parler announces re-launch, new CEO - NBC NewsNBC News
The social network Parler, which was forced offline following the Jan. 6 attack on the U.S. Capitol, says it is re-launching.
JetBlue's cheapest tickets are getting cheaper but will come with a major catch: no carry-on bag allowed - USA TODAYUSA Today
JetBlue's new policy begins July 20. United already bans carry-ons in basic economy, and budget airlines like Spirit make passengers pay to bring one.
Maybe You Should’ve Been Wearing a Mask in the Subway All Along - CurbedCurbed
Air pollution at some stations is so bad that it’s like inhaling wildfire smoke.
Dow Jones Hits Another All-Time High, Led By Salesforce Stock, JPMorgan; Palantir Slammed On Earnings - Investor's Business DailyInvestor's Business Daily
The Dow Jones eked out a small gain Tuesday amid strong performances for Salesforce.com, Boeing, JPMorgan and Goldman Sachs.
Michigan hospital system cancels nearly 2,000 Covid vaccinations due to major shortage - NBC NewsNBC News
A Detroit-area hospital system canceled nearly two thousand appointments for second doses of the Covid-19 vaccine after an unexpected supply shortage.
Consumer spending expected to see boost in January, helped by stimulus checks - CNBCCNBC
Aided by government stimulus checks, consumers are expected to have boosted their spending in January, and the trend is likely to continue.
Why the AstraZeneca/Oxford coronavirus vaccine could be a game-changer - SalonSalon
AstraZeneca's coronavirus vaccine has a few characteristics that may give it an edge over others
AutoNation CEO: Range anxiety no longer much of a problem for most electric car owners - CNBCCNBC
AutoNation CEO Mike Jackson also told CNBC he believes it will be a "decadeslong" transition to electric vehicles from cars with internal combustion engines.
QFC to shutter 15th Ave E grocery as company axes two Seattle stores over COVID-19 hazard pay — UPDATE - CHS Capitol Hill Seattle NewsCHS Capitol Hill Seattle News
Blaming the city’s newly imposed $4 an hour COVID-19 hazard pay for grocery workers, QFC announced Tuesday it is closing two “underperforming” Seattle stores including its Capitol…
U.S. deep freeze prompts natural-gas rally, and uranium prices melt up - MarketWatchMarketWatch
Winter storms in parts of the south and central U.S. have led to a surge in the need for power, rallying prices for natural gas as traders look toward a rise...
Employer perks for COVID-19 vaccinated workers could draw legal challenges - Yahoo FinanceYahoo Entertainment
A growing number of companies have dangled legally untested bargains, from extra compensation to paid time off, to entice employees to get the coronavirus...
Nearly 25% of people in white NYC neighborhoods are fully immunized - Daily MailDaily Mail
In wealthier, white neighborhoods, such as the Upper East Side, as many as 25% of all adults have received both doses of the COVID-19 vaccine, new New York City data shows.
Texas winter storm snarls air travel with more than 4,000 flight cancellations - CNBCCNBC
More than 4,000 flights have been canceled since Monday after a record cold snap and winter storm struck Texas.
Exclusive: Lucid Motors nears SPAC deal as Klein launches financing - sources - Yahoo Finance UKYahoo Entertainment
Winter storm temporarily closes hundreds of Walmart stores and Amazon facilities, snarling delivery - CNBCCNBC
Hundreds of Walmart stores are temporarily closed as winter weather causes severe ice and power outages in Texas, the Southeast and other parts of the country.
USPS temporarily suspends mail service to some north Alabama ZIP codes - WAFFWAFF
The United States Postal Service announced Tuesday the temporary suspension of mail service to a number of ZIP codes in north Alabama.
Adidas is selling Reebok after defending the $3.8 billion purchase for years - Business InsiderBusiness Insider
After years of sluggish sales, the German sportswear brand has decided to divest from Reebok, which it acquired in 2006.
McDonald's Is Offering Early Access To New Crispy Chicken Sandwich With Limited-Edition Capsule Drop On February 18, 2021 - Chew BoomChewboom.com
McDonald’s announced today that starting February 18, 2021 at noon ET, it is offering fans a chance to score access to an early taste of their highly anticipated new Crispy Chicken Sandwich via a limited-edition ...
CVS Health Reports Q4, and Here's What I'm Changing Up - RealMoneyTheStreet
I do want to give new CEO Karen Lynch a chance. Nothing against Larry Merlo but I always thought that this stock was undervalued....CVS
Bill de Blasio Is Now Producing Terrible Art - The FederalistThe Federalist
De Blasio is right that New York needs its culture back, but NYC Is set to create art nobody wants — and that's no way to do it.
CVS Health (CVS) Benefiting from COVID Traffic - InvestopediaInvestopedia
CVS Health (CVS) has administered 15 million COVID tests at its pharmacies in the past year.
South Africa to be first to use Johnson Johnson Covid-19 vaccine - Quartz AfricaQuartz India
It's a pivot from initial plans to vaccinate its estimated 1.5 million frontline health-care workers with a jab developed by AstraZeneca.
'You don't want to go to a non-uniform with currency': Fed's Jim Bullard - CNBC TelevisionGoogle News
Goldman Sachs' investment advice is no longer just for the super rich - CNNCNN
Move over, Robinhood, here comes Goldman Sachs.
IHOP cancels National Pancake Day amid COVID-19, but will still give away free pancakes. How to sign up for an IOU. - USA TODAYUSA Today
Is IHOP giving away free pancakes in 2021? Yes, but the National Pancake Day freebie is canceled. Here's how MyHOP email club members can still get.
Nestlé's newest KitKat is missing a key ingredient - CNNCNN
Breaking off a piece of that vegan KitKat bar is now a reality.