Category Archives: CNN – Business

Nikola founder Trevor Milton steps down as chairman in battle with short seller

Nikola founder Trevor Milton has stepped down as executive chairman after a short seller accused the hydrogen and electric truck startup of misleading investors and overstating the value of a business deal. Milton has also resigned from the company’s board, Nikola said in a statement on Sunday. The company has previously denied the allegations and…MORE

Six months into the pandemic, the US economic outlook is getting gloomier

Six months into the pandemic, the US economic outlook is getting gloomier

Six months. It may feel like an eternity, but that’s how long it’s been since states started enacting stay-at-home orders. We now know those actions were at least partially successful in slowing the spread of Covid-19. They also triggered an economic downturn deeper than any recession on record since at least the Great Depression. Now,…MORE

Fears of another Covid-19 wave send stocks tumbling

Fears of another Covid-19 wave send stocks tumbling

Concerns that a second wave of coronavirus infections could rock the nascent economic recovery are sending stocks sharply lower. What’s happening: Germany’s DAX and France’s CAC 40 dropped 3.3% in early trading, while the FTSE 100 in London fell 3.4%. US stock futures are also sharply lower. The market reaction comes as cases surge in…MORE

HSBC shares fall to 25-year low as fears for China business grow

HSBC shares fall to 25-year low as fears for China business grow

HSBC’s shares plunged to historic lows on Monday as the bank was hit by new fears about its business in China and a report accusing it and other major lenders of failing to stop criminals from moving dirty money around the world. The stock closed down more than 5% in Hong Kong at its lowest…MORE

Airbus wants to build zero-emission planes by 2035. Here’s how

Airbus wants to build zero-emission planes by 2035. Here’s how

Airbus has unveiled its plans for bringing the world’s first zero-emission commercial aircraft into service by 2035. Boeing’s European rival on Monday revealed three concepts that will explore different options for using hydrogen as a primary source of power. “This is a historic moment for the commercial aviation sector as a whole and we intend…MORE

It’s not just groceries. Why clothing is important to Walmart

It’s not just groceries. Why clothing is important to Walmart

Walmart is known for its massive superstores that sell everything from groceries to electronics. Now, it’s trying to boost its reputation in fashion. The company is launching a new in-house clothing brand called Free Assembly. The 55 piece collection ranges from $9 to $45 and will sell online and in 250 Walmart stores. In a…MORE

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