Tesla’s new Berlin factory officially kicked off the production process on Tuesday, with ambitious plans to churn out some 500,000 EVs a year. The $7 billion plant, completed in just 2 years, will focus on Model Y SUV...more
After 11 weeks of the prosecution laying out the government’s case, it’s now the defense’s turn in the criminal fraud trial of Theranos founder Elizabeth Holmes. They began by putting Holmes, herself, on the stand, and she’ll...more
Amazon a juggernaut? Quarterly sales and profit prove how indispensable tech giants have become to our society. In the midst of a pandemic, Big Tech mostly shows gains....more
The Federal Reserve has “temporarily restricted shareholder payouts by the biggest banks,” preventing stock buybacks and barring increases in dividend payments in the third quarter. ...more
Macy’s announced on Monday that it will furlough most of its nearly 130,000 workers (at its Macy’s, Bloomingdale’s, and Bluemercury retail locations) starting this week as its stores remained shuttered due to the pandemic....more
It’s been a week or so, and we’re running out of ways to say that this is bad. But it certainly is. Your bear market stats for the day: the biggest daily drop by percentage for both the S&P 500 and the Dow Jones Industrial...more
Three weeks after his initial arrest, Japanese prosecutors have officially indicted former Nissan Chair Carlos Ghosn for understating his income by $43 million....more
2018 has seen an increase in private companies accessing the private markets through private company liquidity programs. Nasdaq Private Markets recently released a report showing an increase of 74% in total number of private...more
More details have emerged from the February cyberheist that resulted in the theft of more than $81 million from Bangladesh’s account at the NY Fed, including a pretty significant lack of critical concern from the bank itself....more