By Mrinmay Dey (Reuters) -The U.S. Securities and Exchange Commission moved on Thursday to dismiss its case againt Trevor Milton, the founder and former CEO of Nikola, a company that sought to make electric and hydrogen-powered trucks. In the case, filed in 2021, U.S. prosecutors accused Milton of falsely claiming that Nikola had built an …
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By Dan Catchpole (Reuters) – Striking workers at Boeing Defense rejected the company’s latest contract offer on Friday, sending the stoppage toward its seventh week. The roughly 3,200 members of the International Association of Machinists and Aerospace Workers (IAM) District 837 went on strike on August 4 after rejecting the company’s previous offer. The St. Louis-area …
Boeing Defense workers reject contract, strike continues Read More »
By Abigail Summerville and Ankita Bora (Reuters) -Black Rock Coffee Bar was valued at $1.27 billion after its shares rose 32.5% above their initial public offering price on Friday, signaling healthy investor appetite for consumer-focused companies in a tech-dominated IPO market. Shares of the Scottsdale, Arizona-based company opened at around $26.5, versus the offer price of …
Black Rock Coffee Bar valued at $1.27 billion as shares jump in Nasdaq debut Read More »
By Arasu Kannagi Basil (Reuters) – Lendbuzz’s revenue surged 38% in the first half of 2025, the auto loans platform revealed in its U.S. initial public offering paperwork on Friday, as it became the latest financial technology firm set to hit the new listings market. The Boston, Massachusetts-based company reported net income of $11.1 million …
Lendbuzz reveals 38% revenue surge in US IPO filing as fintech listings rebound Read More »
(Reuters) – Shares of Black Rock Coffee Bar rose 32.5% in their Nasdaq debut on Friday, valuing the cafe chain at $1.27 billion. (Reporting by Ankita Bora and Ateev Bhandari in Bengaluru; Editing by Pooja Desai)
By Joel Jose and Akriti Shah (Reuters) – Morgan Stanley and Deutsche Bank expect the U.S. Federal Reserve to deliver interest rate cuts at all its three meetings this year, following data this week showing more modest inflation pressures. The two brokerages in separate notes said on Friday they now expect the Fed to cut …
Morgan Stanley, Deutsche Bank expect three US interest rate cuts this year Read More »
(Reuters) – The U.S. Federal Trade Commission is investigating whether Amazon.com and Alphabet’s Google misled advertisers that place ads on their websites, a source familiar with the matter said on Friday. The investigations are being conducted by the FTC’s consumer protection unit, and focus on whether Amazon and Alphabet properly disclosed terms and pricing for …
US FTC probes Google, Amazon over search advertising practices, source says Read More »
BEIJING (Reuters) -Chinese electric carmaker Xpeng will recall 47,490 P7+ electric sedans from Sept. 15 due to a potential steering assist failure, the Chinese market regulator said in a statement on Friday. Loose wire connections in the power steering assist sensors of the affected cars produced between August 2024 and April may cause the steering …
China’s Xpeng to recall 47,490 P7+ electric cars over potential steering assist failure Read More »
By David Shepardson WASHINGTON (Reuters) – The Trump administration announced a new pilot program on Friday to speed the deployment of flying air taxis as companies work to meet regulatory hurdles for advanced air mobility. The Federal Aviation Administration said the program will include at least five projects from public-private partnerships with state and local …
US launches pilot program to speed air taxi deployment Read More »
(Reuters) -U.S. consumer sentiment fell for a second straight month in September as consumers saw rising risks to business conditions, the labor market and inflation. The University of Michigan’s Surveys of Consumers on Friday said its Consumer Sentiment Index fell to 55.4 this month, the lowest since May, from a final reading of 58.2 in August. Economists …
US consumer sentiment slips again in September, University of Michigan survey says Read More »
