Category: Business

Nikola Corp’s stock dropped 15% on Tuesday, extending its recent drop as certain insiders were allowed to sell shares of the electric truck maker a day after General Motors Co revised its deal with Nikola. The stock posted a fourth straight session of declines. The share lockup period expired on Monday, 180 days after the […]

Italy’s UniCredit on Tuesday sought to dispel concerns it may agree to take on state-owned Monte dei Paschi after the board pushed out Chief Executive Jean Pierre Mustier. Mustier’s abrupt resignation on Monday following a clash with directors sent shares tumbling 8% due to concerns UniCredit would stray away from the CEO’s line that prioritised […]

A group representing major automakers on Tuesday vowed to work with President-elect Joe Biden on efforts to reduce vehicle emissions even as the industry remains split over whether to let California set its own emission rules. John Bozzella, who heads the Alliance for Automotive Innovation representing General Motors Co, Volkswagen AG, Toyota Motor Corp, Ford […]

Walt Disney Co said on Tuesday it had consolidated its television studios into two units as the company restructures operations to emphasize streaming media. Karey Burke, who has been president of ABC Entertainment, will now head the 20th Television unit, Disney said in a statement. Jonnie Davis will continue oversight of the second unit, called […]

Stock markets rose and safe havens such as U.S. Treasury bonds dipped Tuesday as strong factory data and signs that coronavirus vaccinations could be administered by the end of the year helped prolong a worldwide rally in risk assets even as the pandemic accelerated. Bets on more easing from the U.S. Federal Reserve to help […]

Oil prices extended losses to a second day on Tuesday after OPEC and its allies left markets in limbo by postponing a formal meeting to decide whether to lift output come January. Brent crude ended the session down 46 cents, or 1%, at $47.42 a barrel, while U.S. West Texas Intermediate settled down 79 cents, […]

U.S. airlines would receive $17 billion for four months of payroll support under a new $908 billion bipartisan Senate COVID-19 relief proposal, staffers for two U.S. Senators said on Tuesday. A bipartisan group of lawmakers announced a package of $45 billion in transportation assistance, and the offices of Senators Mitt Romney and Mark Warner said […]