Another COVID-19 Vaccine is In the Final Stages of Testing
Months into the pandemic, more companies are entering the final stages of vaccine testing. Just over the last few days, Novavax (NVAX) said it would start its Phase 3 trial among 30,000 people in the UK. In addition, a trial of 30,000 could begin in the U.S. if...
Here’s Why Peloton Interactive (PTON) is Still a Solid Opportunity
Peloton Interactive (PTON) pulled back on news of a $500 Amazon bike. In fact, Echelon said in a press release that it built a Prime-branded bike and Amazon partnered with the startup to build Amazon's "first-ever connected fitness product," as noted by CNN. However,...
Here’s How to Watch Tesla’s Battery Day Event
Tesla’s “Battery Day” is here. Unfortunately, the market isn’t too enthused about it – at the moment. In fact, shares of TSLA are currently down more than 5%, or $24 a share. All after Elon Musk dampened the mood, as he cautioned about hurdles to mass...
Nikola Founder Trevor Milton Out as Chairman
Chaos continues for Nikola (NKLA), as Trevor Milton steps down from his roles as executive chairman and member of the board. The news comes just days after Hindenburg Research attacked the company “an intricate fraud,” adding, “We have gathered extensive...
Exclusive: U.S. shale producer Devon in talks to acquire peer WPX
By David French NEW YORK (Reuters) - U.S. shale producer Devon Energy Corp is in talks to acquire rival WPX Energy Inc in an all-stock transaction that would create a company worth around $6 billion, people familiar with the matter said on Saturday. The deal talks...
Qatar Airways reports $1.92 billion loss amid coronavirus crisis
DUBAI (Reuters) - Qatar Airways reported a loss of 7 billion riyals ($1.92 billion) on Sunday for the year ending March 31, as the coronavirus crisis hurt the aviation industry around the world. The airline also disclosed it had received a 7.3 billion riyal advance...
China’s industrial profits grow for fourth straight month
SHANGHAI (Reuters) - Profits at China's industrial firms grew for the fourth straight month in August, buoyed in part by a rebound in commodities prices and equipment manufacturing, the statistics bureau said on Sunday. China's recovery has been gaining momentum as...
U.S. tightens exports to China’s chipmaker SMIC, citing risk of military use
SHANGHAI/WASHINGTON (Reuters) - The United States has imposed restrictions on exports to China's biggest chip maker SMIC after concluding there is an "unacceptable risk" equipment supplied to it could be used for military purposes. Suppliers of certain equipment to...
Commerzbank poaches Deutsche Bank’s Knof as new CEO
FRANKFURT (Reuters) - German lender Commerzbank <CBKG.DE> has poached a senior executive of its larger rival Deutsche Bank <DBKGn.DE> to assume the role of chief executive, filling a leadership vacuum after months of turmoil. Manfred Knof, head of Deutsche...
Daimler’s designated chairman Zetsche renounces job
FRANKFURT (Reuters) - Daimler's Dieter Zetsche will not seek to become chairman of the German carmaker's supervisory board, he told Frankfurter Allgemeine Sonntagszeitung newspaper. Zetsche, 67, a former chief executive of the company which owns the Mercedes-Benz...
Beijing autoshow: China’s back, EVs booming, outlook uncertain
By Yilei Sun and Norihiko Shirouzu BEIJING (Reuters) - China's auto market has rebounded smartly from the COVID-19 crash in recent months, executives said on Saturday, as a rare in-person trade show was dominated by talk of recovery in the world's biggest car market....
Nissan to launch slew of new vehicles in China over next five years, CEO says
By Norihiko Shirouzu BEIJING (Reuters) - Nissan Motor's chief executive <7201.T> said on Saturday he planned to launch a number of new vehicles in the growing Chinese market over the next five years, including electrical cars, that could help the struggling...
Wall Street Week Ahead: Trump-Biden debate could spark stock volatility
By Noel Randewich (Reuters) - Some U.S. stocks could face more volatility next week as President Donald Trump and rival Joe Biden face off in their first debate ahead of a November election that betting services currently view as almost a coin flip. A strong...
Mitsubishi Motors to cut 500-600 jobs to reduce costs: sources
By Maki Shiraki TOKYO (Reuters) - Mitsubishi Motors Corp <7211.T> will seek voluntary retirement from 500 to 600 employees, mostly in management, in Japan from mid-November to cut costs, two sources familiar with the matter told Reuters on Saturday. The auto...
Geely’s EV maker Polestar plans new plant for Precept model
BEIJING (Reuters) - Polestar, the performance electric vehicle maker based in Sweden and owned by China's Geely [GEELY.UL], plans to build its Precept electric sedan in China at a new factory, its CEO said on Saturday. Polestar's CEO Thomas Ingenlath, who is one of...