Business news 25 Feb, 2021
Hong Kong's trading tax hike spurred markets into a 'healthy correction,' says Goldman Sachs - CNBCCNBC
Hong Kong's markets tumbled on Wednesday following the announcement of an increase in the stamp duty on stock transfers to 0.13% from 0.1%.
The latest on the coronavirus pandemic and vaccines: Live updates - CNNCNN
The coronavirus pandemic has brought countries to a standstill. Meanwhile, vaccinations have already started in some countries as cases continue to rise. Follow here for the latest.
Record redemption in Ark ETF sparks liquidity worries - Yahoo FinanceYahoo Entertainment
A record half-billion dollar redemption from Ark Invest's flagship fund in a single day has led analysts to highlight the risks arising from the ETF's heavy ...
Verizon, AT&T and T-Mobile dominate $81 billion 5G spectrum auction - CNETCNET
Verizon bids more than $45 billion for licenses of the valuable mid-band spectrum in the C band auction to build its 5G network.
United 777 plane flew fewer than half the flights allowed between checks: sources - ReutersReuters
A United Airlines plane with a Pratt & Whitney engine that failed on Saturday had flown fewer than half the flights allowed by U.S. regulators between fan blade inspections, two sources with knowledge of the matter said.
California tops 50,000 virus deaths, including 806 in LA - KCRA SacramentoKCRA Sacramento
Los Angeles County on Wednesday reported another 806 deaths from coronavirus during the winter surge, pushing California’s toll above 50,000, or about one-tenth of the U.S. total from the pandemic.
Bitcoin's biggest players include Tesla, Square, Mastercard - Fox BusinessFox Business
Despite its critics, bitcoin has seen a meteoric rise in 2021 as companies have embraced the mainstream adoption of digital currencies, prompting them to make their own investments.
GRPD: Pedestrian killed in hit-and-run crash - WOODTV.comWOODTV.com
A pedestrian was killed in a hit-and-run car crash in Grand Rapids Wednesday night, police say.
Dow Jones Futures: Dow Hits High As Tesla Rebounds, GameStop Skyrockets; Nvidia, Teladoc Lead Five Earnings Movers - Investor's Business DailyGoogle News
WeWork’s Adam Neumann to Get Extra $50 Million Payout in SoftBank Settlement - The Wall Street JournalThe Wall Street Journal
Deal would set Mr. Neumann apart from other WeWork shareholders
Bitcoin whale from 2010 moves 100 BTC for first time in 11 years - CointelegraphCointelegraph
A Bitcoin whale from 2010 has been spotted moving 100 BTC that laid dormant for over a decade.
Charlie Munger: Robinhood luring amateurs with commission-free trading is a 'dirty way of making money' - Fox BusinessFox Business
Berkshire Hathaway Vice Chairman Charlie Munger issued a warning Wednesday that nothing is ever really free -- at least when it comes to Robinhood and other brokerage apps that are trying to lure amateur investors in with promises of commission-free trading o…
GameStop stock rallies after hours following CFO resignation - CNETCNET
Are "meme stocks" back in style?
Why Square Stock Dropped Today - Motley FoolMotley Fool
The fintech pioneer is ramping up its exposure to Bitcoin.
Doorbell video captures moment good Samaritan returns lost wallet in Florida - NBC NewsNBC News
Ring video captures a man returning a lost wallet after shopping at a Walmart in Florida.
Top 10 beaches in the US, according to Tripadvisor - Fox NewsFox News
Apparently not all beaches are created equal.
PG&E wildfire victims sue former management for neglect - KCRA SacramentoKCRA Sacramento
A trust representing more than 80,000 victims of deadly wildfires ignited by Pacific Gas and Electric's rickety electrical grid is suing nearly two dozen of the utility's former executives and board members for alleged dereliction of their duty to ensure the …
Only One Automaker Failed To Earn Any 2021 IIHS Top Safety Pick Awards - Motor1Motor1
The Insurance Institute for Highway Safety announced its Top Safety Pick award winners for 2021, but one Japanese automaker didn't make the list.
Nvidia made $5 billion during a GPU shortage and expects to do it again in Q1 - The VergeThe Verge
Nvidia has shared its quarterly earnings for Q4 2021, and it reported $5 billion in revenue. Despite the ongoing shortage of graphics cards across the world, it expects to make just as much money in Q1 2022.
Nation’s most populous county mandates extra $5 in pandemic ‘hero pay’ for some grocery workers - Washington PostThe Washington Post
Experts say the passage of a temporary pay bump for some grocery workers in Los Angeles County is notable amid industry opposition.
Why SPAC Stock Churchill Capital IV Crashed Today - Motley FoolMotley Fool
Investors may have overpaid for the chance to acquire the next Tesla.
Hyundai announces Kona, Ioniq, and Bus battery replacements - Electrek.coElectrek
Hyundai will replace all Kona, Ioniq and Elec City bus batteries after some fires. GM Owners wonder if they'll get the same thing.
Dunkin' just added avocado toast to its menu — about 5 years after the trend peaked - InsiderINSIDER
Dunkin's new avocado toast appears to be the latest attempt to revitalize its brand and reach a younger consumer.
Janet Yellen Sounds Like She's Scared Of Bitcoin - Bitcoin MagazineBitcoin Magazine
In recent comments made to CNBC, U.S. Secretary of the Treasury Janet Yellen demonstrated misunderstanding, and perhaps fear, of Bitcoin.
Fisker, Foxconn electric-vehicle deal sends shares soaring - Fox BusinessFox Business
Electric-vehicle maker Fisker Inc. and Foxconn Technology Group announced Wednesday that they would collaborate on an electric-vehicle project, leading Fisker shares to surge more than 38%.
Appointments go fast for COVID-19 drive-thru vaccination clinic at Springfield Walmart Thursday - KYTVKY3
Walmart will host a drive-thru COVID-19 vaccination clinic Thursday at a Springfield location. But it is by appointment only.
Ethereum Is a Better Long Run Bet Than Bitcoin, Researchers Say - Walter Bradley Center for Natural and Artificial IntelligenceMindmatters.ai
One research team found that, between 2015 and 2019, investors would have done better if they had some cryptos. But it’s volatile.
It's official: Whataburger is back in Nashville and plans to add more restaurants in 2022 - TennesseanGoogle News
What does the cloud have to do with philanthropy? A Q&A with Justin Spelhaug on helping nonprofits with digital transformation | Microsoft On the Issues - MicrosoftMicrosoft.com
Microsoft today announces its Cloud for Nonprofit and its plans to develop solutions for common scenarios nonprofits face that can be improved through technology. We caught up with Justin Spelhaug, who leads Tech for Social Impact at Microsoft, to learn more.
L Brands shares rise on Victoria's Secret owner's earnings beat, strong first-quarter outlook - CNBCCNBC
Victoria's Secret parent L Brands reported fourth-quarter earnings that topped analysts' estimates, but sales fell short due to weakness at its lingerie brand.
Gas price surge: Why you could soon see $3 per gallon - WJW FOX 8 News Clevelandfox8.com
(NEXSTAR) – It may feel like gas prices are high right now, but come summer you may be wishing the winter fuel prices would return. The average U.S. price of regular-grade gasoline jumped 14 cents a gallon over the past two weeks to $2.64, according to the As…
Cruise lines have officially started to cancel Alaska sailings - The Points GuyThe Points Guy
The Alaska cruise cancellations have begun. The two biggest cruise lines operating in Alaska, Princess Cruises and Holland America, on Wednesday canceled all of their 2021 Alaska sailings that begin or end in Vancouver, British Columbia. A third, smaller line…
Magnite Reports Fourth Quarter 2020 Results - Yahoo FinanceYahoo Entertainment
Magnite Reports Fourth Quarter 2020 Results
McDonald’s debuts new menu item — three times over - fox8.comfox8.com
There’s something new on McDonald’s menu, and it’s joining the growing trend of spotlighting chicken.
Fixed-rate student loan refinancing rates hit record low - Fox BusinessFox Business
The latest trends in interest rates for student loan refinancing from the Credible marketplace, updated weekly.
Walgreens now offering COVID-19 vaccines in Utah - KUTV 2NewsKUTV 2News
Walgreen pharmacies in Utah are now offering COVID-19 vaccines to eligible people. Caption: KUTV. That's because the state flew through its initial doses. Those 65 and older can now get their COVID-19 vaccines from Walgreens. This is part of nationwide dist…
Outage at the Fed Delays Bank Wire Transfers, Affecting Crypto Exchanges - CoinDesk - CoinDeskCoinDesk
Cryptocurrency exchanges Gemini and Kraken reported delays in automated clearing house and FedWire transactions due to the outage.
Sure, Laugh Away. But Every Big Vehicle Should Look Like This New USPS Truck - CurbedCurbed
We admit it’s goofy-looking, but it’s a much safer design for crowded cities.
Carlos Ghosn: Three jailed for helping ex-Nissan CEO escape from Japan to Lebanon - NBC NewsNBC News
An executive and two have been jailed by a court in Turkey their role in flying ex-Nissan Chairman Carlos Ghosn out of Japan during his escape to Lebanon.
Traveling without quarantine? It may soon be possible with new airline industry app - Fox NewsFox News
A new app from the International Air Travel Association (IATA) that will let airline and government officials log and share travelers' health information, like COVID-19 results and vaccination statuses, is slated to be available in March, and free to passenge…
Pa. Lottery Match 6 ticket worth $4.68 million sold in Montgomery County - WGAL Susquehanna Valley Pa.WGAL Susquehanna Valley Pa.
WGAL News 8
Spirit Airlines adds 3 routes, new city in latest pandemic-era shakeup - The Points GuyThe Points Guy
Spirit Airlines isn’t taking a breath. On Wednesday, the Miramar, Florida-based carrier announced another set of new routes, coming just a day after a second big pandemic-era network expansion for the airline. Beginning on June 24, Spirit is adding a new pin …
Saudi Arabia Borrows at Negative Rates for First Time as Oil Recovers - The Wall Street JournalThe Wall Street Journal
The kingdom sold euro-denominated three- and nine-year bonds, raising $1.8 billion
Jet Fuel Demand Is The Only Thing Holding Oil Back - OilPrice.comOilPrice.com
Oil prices have rallied past $60 last week, and with road fuels and distillates demand recovering, there's one major demand pillar that's keeping crude from going even higher
Gap to invest $140 million to build Texas warehouse as online sales swell - CNBCCNBC
The Longview, Texas, warehouse will be able to process 1 million packages per day as Gap tries to double its online business over the next two years.
Marriott CEO says leisure travel will rebound as vaccines roll out, but business travel will return too - CNBCCNBC
Hotels have been suffering during the pandemic from less tourism, but Marriott CEO Tony Capuano expects the industry to recover with the help of vaccines.
Covid vaccine set to trigger fastest retail sales growth in over two decades - NBC NewsNBC News
As the economy reopens, retail sales are expected to grow this year by as much as 8.2 percent, amounting to more than $4.33 trillion in sales.
Biden Set To Sign Executive Order To Address Chip Shortages, Supply-Chain Crisis: WSJ - Yahoo FinanceYahoo Entertainment
President Joe Biden is close to signing an executive order reviewing supply chains for critical materials, including semiconductors to pharmaceuticals and...
Ex-SCANA CEO pleads guilty to fraud in SC nuclear fiasco: 'I'm sorry it's come to this' - Charleston Post CourierCharleston Post Courier
Former SCANA Corp. chief executive Kevin Marsh will spend at least two years in prison and pay back at least $5 million for defrauding electric ratepayers in South Carolina.
Joby Aviation is going public, reveals its electric aircraft in flight for the first time - The VergeThe Verge
Joby Aviation, an electric aviation startup, is going public via a reverse merger with a SPAC. The deal nets Joby $1.6 billion and values the company at $6.6 billion. The company showed footage for the first time of its aircraft in flight.
Beloved Department Store Belk Just Filed for Bankruptcy - Best LifeBest Life
Beloved retailer Belk has officially filed for Chapter 11 bankruptcy in an effort to secure a future for the department store.
Fry’s Electronics shutting down all stores, ending 36 years as a big-box stop for tech enthusiasts - GeekWireGeekWire
Fry's Electronic's, the big-box chain that was a longtime, one-stop shop for tech enthusiasts, is shutting down after 36 years in business. The company cited "changes in the retail industry and the…
Biden rushes to address global computer chip shortage via latest executive order - Reuters CanadaReuters
President Joe Biden said on Wednesday he would seek $37 billion in funding for legislation to supercharge chip manufacturing in the United States as a shortfall of semiconductors has forced U.S. automakers and other manufacturers to cut production.
Biden signs executive order tied to semiconductor shortage - MarketWatchMarketWatch
President also meets with Republican and Democratic lawmakers on issue
Raleigh life science firm PRA is sold in $12B deal, HQ will be in Ireland - WRAL Tech WireWRAL Tech Wire
PRA Health Sciences on Wednesday morning announced financials that exceeded Wall Street expectations - and then disclosed it had been acquired in a $12 billion deal by Ireland-based ICON. As a result,
Biden's COVID-19 relief bill endorsed by over 150 CEOs at nation's top businesses, including Google, Goldman - Fox BusinessFox Business
More than 150 chief executive officers from some of the nation's biggest and most influential businesses endorsed President Biden's coronavirus relief plan on Wednesday
FACT SHEET: Securing America's Critical Supply Chains - The White HouseWhitehouse.gov
Today President Biden will sign an Executive Order to help create more resilient and secure supply chains for critical and essential goods. In recent years, American households, workers, and companies have increasingly felt the strain of shortages of essentia…
McKinsey's Kevin Sneader voted out in leadership ballot after crises - Financial TimesFinancial Times
News, analysis and comment from the Financial Times, the worldʼs leading global business publication
Biden and the climate crisis: Why this gas project matters - Los Angeles TimesLos Angeles Times
Sempra Energy is seeking federal approval for a new proposal to ship fossil fuel overseas.
Historic cold in south set to add 'up to $400' to Minnesotans' gas bills - Bring Me The NewsBring Me The News
The Minnesota Public Utilities Commission has launched an investigation into the gas spike.
After Explosion, FAA Orders Engine Checks On Boeing's Pratt & Whitney Powered Planes - NPRNPR
Days after the explosion of an airplane engine over Colorado, the FAA is requiring all aircraft equipped with the same components to undergo fresh inspections, effective immediately.
SolarWinds Hackers Also Went After NASA and the FAA - GizmodoGizmodo.com
Apparently not content with having penetrated the networks of such piddling federal agencies as the U.S. State Department, the Department of Homeland Security, and that agency that maintains our nuclear stockpile, the hackers of the “SolarWinds” affair also…
Plane engine that caught fire on United Airlines flight showed signs of 'metal fatigue' - South China Morning PostGoogle News
AstraZeneca expects FDA O.K for Covid shot in April and will ship 30M - Daily MailDaily Mail
Firm president Rudd Dobber told members of the House Committee on Energy and Commerce on Tuesday that AstraZeneca could deliver 'up to 50 million' doses by the end of April.