Business news 27 Feb, 2021
Winter storm moves into northern Utah, 'overpasses could become icy in a hurry' - KSL.comKSL.com
A pair of winter weather advisories were issued for a storm that could provide over a foot of snow Friday evening into Saturday.
Judge approves $650M Facebook privacy lawsuit settlement - The Associated PressAssociated Press
SAN FRANCISCO (AP) — A federal judge on Friday approved a $650 million settlement of a privacy lawsuit against Facebook for allegedly using photo face-tagging and other biometric data without the...
Neumann agrees to 50% reduction in SoftBank settlement over WeWork - Financial TimesFinancial Times
News, analysis and comment from the Financial Times, the worldʼs leading global business publication
Johnson & Johnson board member says 20 million Covid vaccine doses will be delivered by the end of March - CNBCCNBC
Johnson & Johnson board member Dr. Mark McClellan says the company expects 20 million Covid vaccine doses delivered by the end of March.
Shooting at Whitehall Walmart: Police confirm 2 victims hospitalized - lehighvalleylive.comlehighvalleylive.com
Whitehall Township police are on the scene of a reported shooting at the local Walmart Supercenter.
Fred Segal Dies: Iconic Retailer Who Defined L.A. Fashion Was 87 - DeadlineDeadline
Fred Segal, who was a fashion icon in Los Angeles for more than 60 years, has died because of complications from a stroke, his representatives confirmed Friday. He was 87. “In 1961, Fred Segal created a retail scene that defined Los Angeles fashion and sparke…
FAA proposes $27,500 fine for Delta passenger who allegedly hit flight attendant - ABC NewsABC News
Griddy Is Being Sued for $1 Billion for Allegedly Price Gouging During Texas Winter Storm - GizmodoGizmodo.com
Following the winter storm in Texas, which caused widespread power outages, customers received shockingly high power bills. Now one is suing.
Bitcoin energy use 'bigger than most countries' - BBC NewsBBC News
Could the cryptocurrency's huge electricity consumption also sink it?
Botched Revlon deal forces Citigroup to take another $390M hit - Fox BusinessFox Business
Citigroup Inc said on Friday it recorded an additional $390 million in operating expenses in the 2020 fourth quarter after a U.S. federal judge ruled it was not entitled to recoup money it mistakenly wired to lenders of Revlon Inc last year.
AMC Entertainment approves millions in bonuses to top execs - ReutersReuters
AMC Entertainment Holdings has approved millions in bonuses to its top executives and eligible employees as a means to preserve stockholder value during the COVID-19 pandemic, the theater operator said.
Greensboro 1 of 2 cities picked by feds to pilot large-scale COVID-19 vaccine site - WXII12 Winston-SalemWXII12 Winston-Salem
The federal government announced plans Friday to pilot the launch of a large-scale COVID-19 vaccination site in Greensboro.
As USPS delays persist, bills, paychecks and medications are getting stuck in the mail - The Washington PostThe Washington Post
Consumers are inundating lawmakers with stories of late bills — and the late fees they’ve absorbed as a result.
Chick-fil-A customers across the US faced chaos — and free chicken — when the chain's payments system crashed - Business InsiderBusiness Insider
Many Chick-fil-A customers faced an unexpected disruption on Friday. For some, the silver lining was free chicken.
Canada to receive 6.5 million Covid-19 vaccines by end of March - CNNCNN
Canada expects to receive more than 6.5 million Covid-19 vaccines by the end of March, with tens of millions more vaccines arriving between April and June, Canadian Prime Minister Justin Trudeau said Friday.
Coinbase Begins U.S. Direct Listing Rollout - Seeking AlphaSeeking Alpha
Coinbase filed for a direct listing of its Class A stock on Nasdaq. The firm is a leading global provider of cryptocurrency trading services for individuals, merchants and institutions.
Former SolarWinds CEO blames intern for 'solarwinds123' password leak - CNNCNN
Current and former top executives at SolarWinds are blaming a company intern for a critical lapse in password security that apparently went undiagnosed for years.
Here's what one hedge fund trader says happened in Thursday's bond-market tantrum, which sent the 10-year Treasury yield to 1.60% - MarketWatchMarketWatch
‘What happened Thursday was a complete dry-up of risk appetite in the fixed-income space,’ said Hu’s Winshore Capital
Biden administration buys 100,000 doses of Lilly antibody drug | TheHill - The HillThe Hill
The Biden administration on Friday announced an agreement to purc...
Jeff Bezos’ Washington Post ignores Amazon decision to remove book on transgenderism - Fox NewsFox News
A controversial decision by billionaire Jeff Bezos's behemoth online retailer Amazon to remove a bestselling book has gone unreported by his newspaper, the Washington Post.
SEC Suspends Trading in 15 Stocks That Got Hyped on Social Media - Yahoo FinanceYahoo Entertainment
(Bloomberg) -- U.S. regulators are engaging in the stock market’s version of whack-a-mole -- racing to suspend shares of companies with dubious prospects...
All-New 2021 Jeep Grand Cherokee L Starts At $36,995 - JalopnikJalopnik
Brand new for 2021, the Grand Cherokee finally gains a third row after all these years and with that row adds an L to the model name. Jeep released pricing for that version today. While the build-and-price tool isn’t up on the site yet, Jeep has outlined some…
Dow Jones Falls While Nasdaq Recovers Some Losses; These Dow Stocks Trade Near Buy Zones - Investor's Business DailyInvestor's Business Daily
The Dow Jones Industrial Average traded lower in today's stock market while the Nasdaq lifted higher into the last hour of trading.
TikTok agrees to proposed $92 million settlement in privacy class action - Ars TechnicaArs Technica
Class members can get compensation, as long as most don't file for it.
Rising interest rates may continue to test the stock market in the week ahead - CNBCCNBC
The rapid rise in bond yields has made stocks skittish and that could be a factor in the week ahead.
Losing streak: Gold price down nearly $200 since start of the year, what's next? - Kitco NEWSKitco NEWS
AT&T’s DirecTV Spinoff Wins Points for Strategy, but Not for Financial Impact - Barron'sBarron's
Analysts worry that the spinoff will increase AT&T's dividend payout ratio and leverage. But it could open the door to a merger of DirecTV and Dish Network.
Congress is working on new $1,400 stimulus checks. Here's who could be eligible for the first time - CNBCCNBC
Congress is working on a stimulus package that includes $1,400 stimulus checks. This time, dependents ages 17 and up would be eligible for that relief.
Cardano's ADA Is Now the Third-Largest Cryptocurrency by Market Cap - CoinDesk - CoinDeskCoinDesk
The ADA cryptocurrency rose to $1.30, beating out its previous all-time high set in January 2018 during the height of the last bull run.
FCC internet subsidy: Millions of households could get $50 monthly payment - CBS NewsCBS News
The agency approved a $3.2 billion program to help low-income families and people who lost jobs in the last year.
Airbnb stock enjoys best day since IPO as analysts call company 'best asset in travel' - MarketWatchMarketWatch
After first earnings report since IPO, Airbnb stock flies toward record high as analysts say the results ‘stand out in a still very difficult travel environment’
Labor Department just expanded eligibility for unemployment — here's who qualifies - NBC NewsNBC News
Americans who did not work due to fears of contracting Covid-19, or who stayed home during remote schooling are now eligible for government-funded assistance.
New COVID variant found in Hawaii - Honolulu Star-AdvertiserHonolulu Star-Advertiser
A new COVID variant thought to have originated in Brazil has been confirmed in Hawaii.
Phillies can have some fans in the stands, per city's new COVID restriction limits - NBC SportsNBCSports.com
An important update for fans looking to attend Phillies, Sixers or Flyers games this season.
You’ll soon have to dial 10 digits to make local calls in Cincinnati, Northern Kentucky - WLWT CincinnatiWLWT Cincinnati
You’ll soon have to dial 10 digits to make local calls in Cincinnati, Northern Kentucky
Oil is up nearly 70% since the election, a record in the modern era - CNNCNN
The oil market is starting off the Biden era with a bang. That means Covid-weary Americans returning to the roads this spring and summer will be greeted with higher prices at the pump.
Pa. health official: Still no timeline for next phase of covid vaccination process - TribLIVETribLIVE
There remains no estimate on when Pennsylvania will move to the next phase of its vaccination plan, which includes a slew of essential workers as well as first responders and teachers, a health official said Friday. “I don’t think we’re putt…
United Airlines offering 'seamless' service to Colorado ski destinations via plane-to-bus transfers - Fox NewsFox News
The Chicago-based airline if offering year-round ground transportation to popular Colorado ski destinations like Breckenridge and Fort Collins from its Denver International Airport hub, the company announced Friday.
OCGN Stock: 2 Big Reasons Ocugen Shares Are Soaring Today - InvestorPlaceInvestorplace.com
OCGN stock is on the move today thanks to two big headlines about its Covid-19 vaccine plans. Here's what to know.
American Airlines flight diverted over fight; two passengers arrested - NBC NewsNBC News
An American Airlines flight was diverted to Phoenix after two women got into a fight with another passenger who asked them to stop using a racial slur, police said.
Churchill Capital Corp. IV retail investors are banding together on Reddit to 'defend' the stock - Markets InsiderBusiness Insider
A group of Reddit traders is attempting to 'defend' CCIV stock from 'market manipulators', forming a new subreddit dedicated to the cause.
Officials rule fire at Shaq's landmark Krispy Kreme store in Atlanta was arson - Yahoo SportsYahoo Entertainment
Investigators released photos of a suspect they believed was involved in the fire at Shaq's Atlanta Krispy Kreme store earlier this month.
For Solopreneurs, There's Never Been a Better Time to Apply for a PPP Loan - Inc.comInc.
The Small Business Administration is expected to release a new application for Schedule C borrowers, giving them wider access to the forgivable loan program and much-needed new guidance.
Redditors, Ryan Cohen Needs Your Help to Send GME Stock Back to $500 - InvestorPlaceInvestorplace.com
Redditors aren't finished with GME stock just yet. Here's how Reddit can help Ryan Cohen send GameStop back to the moon.
Bitcoin Looks Indecisive After Sell-off in Bonds, Tech Stocks - CoinDesk - CoinDeskCoinDesk
Bitcoin appears to now be trading alongside stocks, with anemic price action on Friday following a sell-off this week.
Palantir's stock set to suffer the biggest weekly selloff since going public - MarketWatchMarketWatch
Shares of Palantir Technologies Inc. undefined have seesawed to a loss of 0.6% in midday trading, reversing an earlier intraday gain of as much as 2.3%, as...
One Medical cut off from vaccine supply in 5 Bay Area counties after ineligible patients skipped the line - ABC NewsABC News
Best Buy lays off 5,000 workers as it shifts focus to online sales - Ars TechnicaArs Technica
The pandemic has accelerated Best Buy's transition to selling online.
Billionaire LVMH boss Bernard Arnault takes Birkenstock stake - New York PostNew York Post
Birkenstock, the maker of comfortable but decidedly unfashionable sandals, is jumping into bed with the king of luxury goods Birkenstock on Friday said it will sell a majority stake in its business…
How Cathie Wood plans to navigate choppy market waters now that she manages $54 billion - CNBCCNBC
Ark Invest's assets under management have ballooned to nearly $54 billion from about $3.9 billion this time last year.
British Airways Owner Calls For Digital Health Passes For Passengers - NPRNPR
Luis Gallego, the CEO of International Airlines Group, wants "common testing standards and the introduction of digital health passes."
WTF is an NFT? Allow Linkin Park’s Mike Shinoda to explain - InputInputmag.com
The rapper/producer talks to Input about launching his new single, “Happy Endings,” via a blockchain-backed auction site.
Thasunda Brown Duckett on new CEO role at TIAA: 'I have so much gratitude for the shoulders I stand on' - CNBCCNBC
Duckett will join TIAA after serving as the CEO of Chase Consumer Banking.
Apple (AAPL) Down 11.7% Since Last Earnings Report: Can It Rebound? - Yahoo FinanceYahoo Entertainment
Apple (AAPL) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Boeing 777 makes emergency landing in Moscow after engine sensor problem - NBC NewsNBC News
A Rossiya Airlines Boeing 777 cargo plane made an emergency landing at Moscow's Sheremetyevo airport on Friday due to a problem with an engine control sensor, the airline said.
Stimulus checks: Personal income, savings, and spending surged after round 2 of direct payments - Yahoo MoneyYahoo Entertainment
Personal income jumped 10% in January, reaching its highest level on record.
Salesforce tops estimates, Nikola misses, Virgin Galactic falls amid test flights delay - Yahoo FinanceYahoo Entertainment
Salesforce hits $20 billion in revenue, while Nikola reports a narrower-than-expected quarterly loss as shares fall on Friday. Virgin Galactic shares tumble ...
Beyond Meat (BYND) stock pares gain after McDonald's supply deal clarification - Seeking AlphaSeeking Alpha
McDonald's clarifies terms of the supply deal with McDonald's. Read the details of the plant patty arrangement.
Live Nation CEO Says U.S. Music Festivals Could Reopen by ‘Mid-Summer’ - VarietyVariety
Live Nation has taken a timeline provided by the British government as an all-clear for the summer festival season, selling some 170,000 tickets this week to three major U.K. summer festivals that were put on sale this week — and according to comments made a…
Rocket Companies CEO on quarterly earnings, investors shorting the stock - CNBC TelevisionGoogle News
Today's mortgage refinance rates head closer to 3.4% | February 26, 2021 - Fox BusinessFox Business
Check out the mortgage refinancing rates for February 26, 2021, which are up from yesterday.
Tesla confirms it's developing affordable global EV in China - Green Car ReportsGreen Car Reports
The top executive for Tesla in China appears to have confirmed that development for EV maker's $25,000 international car is happening there.
Twitter To Launch New Super Follow Function For Paid Content - LADbibleLADbible
Twitter super follower
Some Arizona health care workers, first responders choosing not to get COVID-19 vaccine - AZFamilyAZFamily
Dozens of nurses, firefighters, and police officers have told us they didn't get the vaccine and they don't plan to.
Pfizer COVID-19 vaccine reduces transmission after one dose - UK study - ReutersReuters
A single dose of Pfizer and BioNtech's COVID-19 vaccine cuts the number of asymptomatic infections and could significantly reduce the risk of transmission of the virus, results of a UK study found on Friday.
Costco to raise starting hourly wage to $16; end hazard pay - The Associated PressAssociated Press
NEW YORK (AP) — Costco will increase its starting wage to $16 an hour, surpassing most of its main competitors. Costco CEO Craig Jelinek announced the increase Thursday at a Senate Budget...