Electric truck maker Nikola Corp. filed for Chapter 11 bankruptcy protection on Wednesday after the company failed to overcome market and macroeconomic challenges. “Like other companies in the electric vehicle industry, we have faced various market and macroeconomic factors that have impacted our ability to operate,” CEO Steve Girsky said in a statement. Girsky said […]
Walmart is known for its low prices and no frills approach. So it may come as a surprise that wealthier shoppers are helping to fuel the retailer’s growth. For more than two years, the discounter has noticed more customers with six-figure incomes shopping on its website and in its stores. Households earning more than $100,000 […]
Sentiment among the nation’s single-family homebuilders dropped to the lowest level in five months in February, largely due to concern over tariffs, which would raise their costs significantly. The National Association of Home Builders’ Housing Market Index, or HMI, dropped a sharp 5 points from January to a reading of 42. Anything below 50 is […]
The US postmaster general, Louis DeJoy, said on Tuesday he had asked the US Postal Service (USPS) governing board to identify his successor. In November, DeJoy warned that the post office, which has lost more than $100bn since 2007, must continue to cut costs or will remain on the path to either a “government bailout […]
Southwest Airlines said Monday that it is cutting about 15% of corporate jobs, or about 1,750 people, a move its CEO called “unprecedented” as the company scrambles to cut costs. The company said it expects savings from the cuts of $210 million this year and about $300 million in 2026. The layoffs will be mostly […]
Federal Reserve Governor Michelle Bowman said on Monday that while monetary policy “is now in a good place,” she wants to see data reflect more progress on inflation before cutting interest rates further. “I would like to gain greater confidence that progress in lowering inflation will continue as we consider making further adjustments to the […]
A new category of employees at the U.S. Consumer Financial Protection Bureau received termination notices on Thursday, according to five sources and termination letters, in a sign that the Trump administration was going beyond probationary employees as it looks to fire federal staff. Notices to dozens of so-called “term employees,” full-time workers on contracts with […]
Coinbase on Thursday reported better-than-expected fourth-quarter results and its biggest quarterly revenue in three years, strengthened by a raging postelection rally that pushed crypto prices to new high after new high at the end of last year. The stock rose 2% in extended trading. Here’s what the company reported for the fourth quarter compared with what Wall Street expected, […]
On Feb. 4, newly appointed crypto czar David Sacks said in a press conference that the bicameral crypto working group is looking into a strategic Bitcoin reserve (SBR) and highlighted that “the concept of the sovereign wealth fund is a little separate.” Indeed, sovereign wealth funds (SWFs) have been loosely understood by the cryptoverse, often mistaken for […]
It’s been less than a month since a new Tesla fast-charging site opened behind the AC Hotel in Frisco. The location is meant to help electric vehicles make longer trips into the mountains. In its first few weeks of operation, users have raved about the station on Plugshare, a crowdsourced app where EV drivers rate […]
Florida Republican Senator Joe Gruters has introduced a bill proposing the investment of part of the state’s funds in Bitcoin and other digital assets to counter rising inflation. It follows a string of other US states recently moving toward the same goal. “The state should have access to tools such as Bitcoin to protect against […]
Amazon.com removed a reference to “inclusion and diversity” in its annual report filed on Thursday, after it told employees in a December memo that it was winding down its programs as part of corporate America’s broader retreat from such policies. Some of America’s biggest businesses have been scaling back diversity initiatives, years after pushing for […]
