Business news 23 Feb, 2021
SoftBank would buy about 25% of Adam Neumann's stake in WeWork for $480 million under proposed settlement - CNBCCNBC
WeWork Co-founder Adam Neumann and SoftBank are nearing a settlement agreement.
ERCOT asked feds to pause federal environmental limits during winter storm - KPRC Click2HoustonKPRC Click2Houston
As last week’s historic winter storm was rolling across Texas, officials with the Electric Reliability Council of Texas, ERCOT, was asking the federal government to temporarily suspend environmental limits for several power producers.
Frustrated CPS Energy customers criticize utility’s handling of winter energy crisis - KSAT San AntonioKSAT San Antonio
At the peak of the utility’s controlled outages strategy, there were about 372,000 customers without power. Trustees heard the stories behind the statistics during nearly two-and-a-half hours of public comment Monday afternoon.
CCIV stock tanks 27% after Lucid Motors confirms SPAC deal - Yahoo FinanceYahoo Entertainment
Lucid Motors and Churchill Capital IV (CCIV) have finally confirmed a merger deal to take the California based EV company public. Shares of Churchill Capital...
Actor Danny Glover shows support to Amazon workers who want to form union - WVTM13WVTM13
Amazon warehouse employees voting on whether to create union. Voting ends March 29
Man Rapes Woman Inside Center City Macy's Store, Police Say - NBC 10 PhiladelphiaNBC 10 Philadelphia
Philadelphia police are searching for a man accused of raping a woman inside the Center City Macy’s store.
ON Semiconductor CEO expects auto chip bottleneck to ease by third quarter - CNBC TelevisionGoogle News
Elon Musk says Starlink internet speeds will double to 300 Mbps this year - The VergeThe Verge
Elon Musk has said in a Twitter reply that the internet speeds provided by the Starlink satellite system will double this year, going to 300 Mbps from 150. He also promises worldwide coverage by next year.
BREAKING: Delta flight makes emergency landing after engine fails - Atlanta Journal ConstitutionAtlanta Journal Constitution
A Delta flight from Atlanta to Seattle made an emergency landing Monday at Salt Lake City Airport after one of its engines failed, according to reports.
Dow Jones Futures: Tech Stocks Sell Off As Tesla Dives; ZoomInfo Leads Earnings Movers - Investor's Business DailyInvestor's Business Daily
Dow Jones futures were little changed late Monday after the tech stock sell-off. Tesla stock dived through a critical support level.
Questions for Chairman Powell - The Wall Street JournalThe Wall Street Journal
What does he make of the surge in asset prices and bond yields?
T-Mobile adds new Magenta Max plan with no smartphone throttling even when on 5G - CNETCNET
No matter how much smartphone data you use, T-Mobile says it won't throttle this plan.
Stocks making the biggest moves after the bell: Carnival, Palo Alto Networks, RealReal & more - CNBCCNBC
These are the stocks posting the largest moves after the bell on Monday, Feb. 22.
Chief of Cherokee Nation: Jeep is wrong to use our name - CNNCNN
Chuck Hoskin, Jr., principal chief of the Cherokee Nation, says Jeep should stop using the name "Cherokee" on the company's SUVs. Jeep has been using the Cherokee name since 1974. The Jeep Grand Cherokee is the brand's best-selling model, while the Jeep Chero…
Another Boeing engine catches fire, drops parts over Netherlands, hurting 2 - South China Morning PostPost Magazine
The explosion on the 747 aircraft took place on the same day as a similar incident on a 777 model in the US.
Microsoft throws Google under the bus in European news fight - Ars TechnicaArs Technica
Google has blasted "link tax" proposals as antithetical to the open Web.
Walt Disney Co. stock rises Monday, outperforms market - MarketWatchMarketWatch
Shares of Walt Disney Co. advanced 4.42% to $191.76 Monday, on what proved to be an all-around mixed trading session for the stock market, with the Dow Jones...
Dish Network will offer 5G starting in Q3 of 2021 - The VergeThe Verge
Dish’s 5G network should open up in its first major market by the end of Q3 this year. Chairman and co-founder Charlie Ergen is confident in the company’s ability to build out the network.
'Retail suckers' with FOMO will eventually get crushed on Bitcoin, says Roubini - Yahoo FinanceYahoo Entertainment
'The reality is nobody knows what the value of this pseudo-asset is. It doesn’t have any value cause it doesn’t have any income, doesn’t have any use...
The Harley-Davidson Pan America 1250 is an off-road hog - Fox NewsFox News
The Harley-Davidson Pan America 1250 is the brands first adventure touring bike and will compete with similar models from the likes of Kawasaki, KTM and Ducati.
Steak 'N Shake in fast food fight avoids bankruptcy, but fries Fortress - Fox BusinessFox Business
Steak 'n Shake Inc. sued lender Fortress Investment Group LLC after the burger chain paid off debt coming due to avoid bankruptcy, accusing Fortress of misusing confidential information to mount a takeover bid.
Oregon Health Authority reports no new deaths linked to COVID-19 on Monday; 324 additional cases statewide - KPTV.comKPTV.com
PORTLAND, OR (KPTV) - The Oregon Health Authority reported no new deaths linked to COVID-19 on Monday.
Market Wrap: Bitcoin Stabilizes After Margin Calls Fuel Biggest Plunge in Month - CoinDesk - CoindeskCoinDesk
Bitcoin prices plunged by the most this year in dollar terms, more than $10,000, before recovering somewhat and stabilizing around $54,000.
Discovery’s Self-Described “Experiments” In Streaming Could Affect Carriage Talks, Dish Chairman Charlie Ergen Warns - DeadlineDeadline
Discovery’s self-described “experiments” with programming on nascent streaming service Discovery+ are one reason why it has quickly reached almost 12 million direct-to-consumer subscribers. The company released the streaming totals — of which Discovery+ makes…
Can crypto be taxed like gold? Is regulation the real threat to bitcoin's $1 trillion market cap? - Kitco NEWSKitco NEWS
Kitco News' Features section highlights more in-depth gold market stories. You will find everything from unique jewlery trends to rare coin discoveries to sunken treasures. You can even find out how much gold is found in your iPhone!
Goodyear buying Cooper Tire in $2.8 billion 'transformational' deal - Akron Beacon JournalAkron Beacon Journal
Akron's Goodyear Tire & Rubber Co. is buying fellow Ohio tire maker Cooper in a deal valued at about $2.8 billion.
United Airlines engine failure on Boeing 777 flight from Colorado: What travelers need to know - USA TODAYUSA Today
United is the only U.S. airline with Boeing 777s powered by the engine that failed Saturday. Travelers still might be booked on another Boeing 777.
Natural Gas Battles Local Climate Efforts - NPRNPR
Natural gas utilities face a bleak future in a world increasingly concerned about climate change. An NPR investigation shows how they work to block local climate action and protect their business.
APS agrees to $24 million payout to customers after Attorney General investigation - AZFamilyAZFamily
Eligible customers include anyone who, as of March 2020, was not on their most economical plan and could have saved at least $120 or more per year on a different
Occidental Announces 4th Quarter and Full-Year 2020 Results - Yahoo FinanceYahoo Entertainment
HOUSTON, Feb. 22, 2021 (GLOBE NEWSWIRE) -- Occidental (NYSE: OXY) today announced its fourth quarter and full-year 2020 financial results. The announcement...
Cordish Cos. pitches $600 million Richmond casino project on Movieland property - Richmond.comRichmond.com
The casino sweepstakes has blown wide open in Richmond, with at least four major casino resort projects proposed on some of the most prominent properties in the city.
US can’t compete with cheap Chinese solar panels - Fox BusinessFox Business
FOX Business’ Grady Trimble talks with an executive from one of the few companies that manufactures solar panels in the U.S. about competing with China.
Video: Woman Runs After Driverless Tesla Model 3 In Smart Summon Mode - BenzingaBenzinga
Although Tesla Inc (NASDAQ: TSLA) has shown increasing sales every year, many people are not familiar with the automaker's self-driving ...
Los Angeles County gas price average rises for 33rd time in 34 days - KABC-TVKABC-TV
The average price of a gallon of self-serve regular gasoline in Los Angeles County rose Monday for the 33rd time in 34 days, increasing 1.2 cents to $3.650, its highest amount since Dec. 20, 2019.
Kohl's tried striking a deal with Amazon. It wasn't enough - CNNCNN
When Michelle Gass took over as Kohl's CEO in 2018, she tried getting creative to bring more shoppers into stores.
These warning signs suggest stocks are heading toward a correction - CNBCCNBC
CFRA's Sam Stovall says several important market indicators are near extreme levels and that means stocks could be heading for a meaningful correction.
Chick-fil-A turns to iPads and FaceTime to help speed up drive-thrus - 9to5Mac9to5Mac
Chick-fil-A is exploring a variety of ways to speed up its drive-thru lines, including turning to reliable Apple products and services. A new report from Insider today highlights Chick-fil-A’s new initiatives, ranging from ghost kitchens to iPads and FaceTime…
Pittsburgher finally claims $2M Powerball prize in Maryland - WBAL TV BaltimoreWBAL TV Baltimore
A Pittsburgh man who bought a Powerball ticket in Maryland is $2 million richer.
Ford recalling 79K F-Series pickups to fix windshields - Fox BusinessFox Business
Ford is recalling 79,017 pickups in the U.S. because their windshields may not be properly bonded to the frames.
Self-driving companies are inching toward fully driverless service - Ars TechnicaArs Technica
Motional has completed 100,000 rides with safety drivers in Las Vegas.
Contractor Killed at Big Bend Power Plant, TECO Confirms - Bay News 9Bay News 9
Incident happened Monday morning
Dr. Scott Gottlieb says an estimate for 'herd immunity by April' too aggressive but directionally right - CNBCCNBC
Former FDA Commissioner Dr. Scott Gottlieb told CNBC on Monday he expects Covid cases in the U.S. to keep declining into the summer.
Coronavirus (COVID-19) Update: FDA Issues Policies to Guide Medical Product Developers Addressing Virus Variants - FDA.govFDA.gov
FDA Issues Policies Addressing Virus Variants
Video shows 139-year-old Victorian house in San Francisco move to new address - NBC NewsNBC News
Moving the Englander House, a 139-year-old Victorian building in San Francisco, took several years and cost approximately $400,000.
Oil Prices Spike As U.S. Outages Tighten Supply - OilPrice.comOilPrice.com
Oil prices spiked to 13-month highs last week after the Texas Freeze, but prices sagged toward the latter part of the week. But on Monday, a new price rally began
ADHS to open new state-run coronavirus vaccination site in the East Valley - ABC15 ArizonaABC15 Arizona
The Arizona Department of Health Services announced Monday that a new state-run vaccination site is expected to open in the East Valley in March.
Jeff Immelt on his time as CEO of General Electric - CNBCCNBC
Jeff Immelt, former CEO of General Electric, is out with a new book called "Hot Seat." The publisher describes the book as an “interrogation of himself and his tenure,” detailing “his proudest moments and his biggest mistakes.” Immelt sat down with CNBC's Dav…
Carnival stock gains post Royal Caribbean earnings, conference call - Seeking AlphaSeeking Alpha
Carnival (CCL) gained 9%, while Royal Caribbean (RCL) jumped 11% post RCL Q4 results and some bullish comments from the conference call.
Roblox Shares to Begin Trading March 10 - The Wall Street JournalThe Wall Street Journal
Direct listing comes after videogame company delayed IPO late last year and recast financial reports in response to SEC
Jay-Z sells half of Champagne brand to luxury giant LVMH - Page SixPage Six
Jay-Z was likely popping some bubby on Monday morning.
Sanofi producing Johnson & Johnson COVID-19 vaccines - Fox NewsFox News
French drug maker Sanofi, battling development delays with its own vaccine candidates against COVID-19, is turning over more of its vaccine production facilities to industrial competitors, teaming up with Johnson & Johnson to produce millions of doses of its …
Taco Bell's New Menu Item Is Both a Crispy Chicken Sandwich and a Taco - Food & WineFood & Wine
The crispy chicken "taco" with a "puffy bread" shell will get a test run next month before a national launch later this year.
Companies Say They Care About the Climate. Their Actions Fall Short. - The New York TimesNew York Times
Many big businesses have not set targets for reducing greenhouse gas emissions. Others have weak goals.
Biden changes PPP loan rules, only small firms can claim for 2 weeks - Business InsiderBusiness Insider
Biden's changes to the PPP loan rules are designed to ensure that smaller companies aren't left behind financially, the White House said.
H-E-B returns to regular store hours Monday, keeps product limits - KXAN.comKXAN.com
Austin-area H-E-B grocery stores are returning to normal store hours Monday across Central Texas but will keep temporary product limits in place for now. Curbside and Home Delivery slots are also being added at individual stores.
Texas power crisis spurs flurry of investigations - AxiosAxios
Catch up on the various calls or plans for probes.
Ant-backed MYbank to help China expand digital yuan trial - CointelegraphCointelegraph
After digital yuan collaboration with state-owned banks, the People's Bank of China is looking to get private banks like MYbank and WeBank involved as well.
M&T Bank stock & People's United Financial merger inked on paper - Seeking AlphaSeeking Alpha
M&T Bank (MTB) and People's United Financial (PBCT) inked a definitive agreement under which M&T will acquire People's United in an all-stock transaction.
National Margarita Day 2021 brings drink specials and tequila deals for Margarita Monday at Chili's and more - USA TODAYUSA Today
Feb. 22 is National Margarita Day or Margarita Monday. But the made-up day is different amid the COVID pandemic. Chili's has several margarita deals.
Forget bitcoin — fintech is the 'real Covid-19 story,' JPMorgan says - CNBCCNBC
JPMorgan thinks bitcoin is an "economic side show," despite the cryptocurrency's monster rally.
SPAC Starboard Value Acquisition stock soars after $3.4 billion merger deal to take Cyxtera public - MarketWatchMarketWatch
Shares of Starboard Value Acquisition Corp. undefined soared 16.8% in premarket trading Monday, after the special purpose acquisition company announced a...
GSK, Sanofi begin new COVID-19 vaccine trial of protein-based vaccine - ReutersReuters
Britain's GlaxoSmithKline and France's Sanofi on Monday said they had started a new clinical trial of their protein-based COVID-19 vaccine candidate and aim to reach the final testing stage in the second quarter.
MLGW: Boil water notice is in effect until further notice - WREG NewsChannel 3WREG NewsChannel 3
MEMPHIS, Tenn. —MLGW said despite warmer temperatures, the boil water notice is in effect until further notice. Officials said while there are no contaminants in the water, they’re aware of, they’re still seeing low pressure. Additionally, they said the water…
OSDH's COVID-19 vaccine schedule portal opens for school staff, Oklahomans with comorbidities - KOCO Oklahoma CityKOCO Oklahoma City
The Oklahoma State Department of Health’s COVID-19 vaccine schedule portal has officially opened for the next eligible group.
Kroger Co. says some customers' personal data may be stolen in a hack - The RepublicTherepublic.com
BOSTON (AP) — Kroger Co. says personal data, including Social Security numbers of some of its pharmacy and clinic customers, may have been stolen in the hack of a third-party vendor's file-transfer service. The Cincinnati-based grocery and pharmacy chain said…