Business

DrunkDash

DoorDash is starting a dedicated alcohol delivery service, pushing full speed into into non-food categories as the battle for on-demand delivery heats up with Uber and Instacart

Continue reading →

Toyota Moving into EVs, Finally

Toyota Motors has received some recent criticisms for being reluctant to release a plan for the upcoming electric vehicle shift in order to meet carbon emission requirements. The company responded by announcing it will be investing $13.6 billion into battery development and manufacturing over the course of the next decade

Continue reading →

Hyundai's Hydrogen Play

Hyundai Motor Group is calling hydrogen as a top energy solution for sustainability. With the launch of its new fuel cell system that it plans to launch within the next few years, the car manufacturer said it will provide hydrogen fuel cell varients for all its commercial vehicles by 2028

Continue reading →

The Feds Are Sniffing Around the EV Space…And They Should Be

The Securities and Exchange Commission has opened an investigation into electric delivery-truck maker Ohio-based Workhorse Group, a company that was an early investor in plagued EV startup Lordstown Motors

Continue reading →

Foot Locker's Billion Dollar Acquisition Spree

Foot Locker has decided to expand after the COVID-19 pandemic brought shoppers out of stores and moved online. The company, which previously consisted of stores located in shopping malls, will be purchasing California-based WSS for $750 million and the Japanese company Atmos for $360 million in hopes to expand the company’s customer base as well as shopping mediums

Continue reading →

OPEC Deal Fails Sending Prices Higher

OPEC abandoned its meeting without a deal, tipping the cartel into crisis and leaving the oil market facing tight supplies and rising prices. Brent crude jumped 1.3% to $77.12 a barrel as of 5:42 p.m. in London, the highest since 2018

Continue reading →

Ford's June Sales Down 26.9%

The chip shortage strikes again as Ford Motors faced a significant drop in sales for June due to limited stock

Continue reading →

Juul Settles for $40 Million

Juul Labs has agreed to pay $40 million to the state of North Carolina to resolve a lawsuit alleging that the vaping startup targeted underage users. The lawsuit by the North Carolina attorney general was slated to go to trial this July, one of hundreds of similar cases brought against the e-cigarette company by state officials, school districts and young people. Those cases are still pending

Continue reading →

Porsche Takes Aim at Battery Business

Car manufacturer Porsche is going into the battery business. The company says it plans to open a new factory that will produce high-performance cells through a joint venture with lithium-ion battery developer Customcells

Continue reading →

Apple Hires BMW Executive

Ulrich Kranz has joined Apple, a former senior executive at BMW’s electric car division, to help lead its own vehicle efforts.The technology giant hired Kranz in recent weeks, about a month after he stepped down as chief executive officer of Canoo, a developer of self-driving electric vehicles. Before co-founding Canoo, Kranz was senior vice president of the group that developed the i3 and i8 cars at BMW, where he worked for 30 years

Continue reading →

America is Hiring Like Never Before

The job market throughout the United States is on fire, soaring to nearly a million job openings in April, which set a record for the highest overall number recorded in a single month since the Bureau of Labor Statistics started tracking this data in 2000 at 9.3 million new positions

Continue reading →

Long Bumpy Ride for the Auto Industry

The global chip shortage continues to hinder car manufacturers who are now being forced to shut down assembly lines as they do not have the chips required to continue production

Continue reading →

Reopening: Trouble Ahead?

As the COVID-19 pandemic comes to an end, consumers are already spending more in restaurants, hotels, and solons. As more consumers get vaccinated and businesses begin to reopen to full capacity economists are expecting a large surge in economic growth

Continue reading →

Trouble with Amazon Union Vote?

The vote to determine whether Amazon workers in Birmingham, Alabama will form the first union at Amazon is set to begin, which is estimated to affect over 6,000 Amazon employees at the Bessemer warehouse and have broader implications nationwide. The results, however, might be delayed due to potential and likely legal challenges from whoever ends up losing the vote

Continue reading →

US Factories Take Hit

Orders for U.S. goods recently fell in February, with many speculations that the decrease could be caused by colder weather in months for many regions of the United States. Nevertheless, manufacturing in the country remains strong as the economic recovery gains steam amid an improving public health situation and massive fiscal stimulus, with the AP reporting that U.S. manufacturing activity has reached its fastest pace since 1983

Continue reading →

Sell the Farm, Save the Tractor

The equipment many farmers are now using is a lot different from the tractors we had once become accustomed to. Today’s modern tractors are fully equipped with software and technology that is designed to improve efficiency and increase yields. In order to repair these features, however, it requires digital tools—tools that your average farmer cannot buy and cost a fortune.

Continue reading →

BMW & California's PG&E

BMW Group and California utility Pacific Gas & Electric are rolling out a pilot program that aims to test and understand how EVs could support the integration of green energy on the power grid

Continue reading →

Toys R Us Under New Managment...Again

03.15.21 - Toys R Us is under new management with a new owner. WHP Global announced recently that the firm has acquired a controlling interest in Toys R Us parent company, Tru Kids. The company also owns Babies R Us and Geoffrey the Giraffe brands

Continue reading →

Fiat Chrysler Pleads Guilty in Union Bribery Scheme

03.01.21 - Fiat Chrysler has pleaded guilty to charges that it conspired with company executives to make illegal, extravagant gifts to United Auto Workers Union leaders and undermined workers’ confidence in collective bargaining

Continue reading →

New York State Sues Amazon Over Labor Conditions

02.22.21 - The New York Attorney General has filed a lawsuit against Amazon that claims that the online retailer has not done enough to adequately protect its workers from COVID-19. Amazon has returned fire to the NY AG claiming the state’s case doesn’t present an accurate picture of its pandemic response

Continue reading →

Grocery Store Worker Vaccination Incentives

02.22.21 - There has been a growing list of US grocery store chains and retailers offering incentives to employees who get the Covid-19 vaccine. Publix, the popular Southern supermarket chain, became the most recent store to do so, stating that it is offering its employees $125 gift cards when they sign up and show proof of their vaccination

Continue reading →

Amazon's Jassy Effect

02.08.21 - As Jeff Bezos steps down as CEO, Amazon finds itself on the eve of a new era. After 27 years, Amazon will have a new CEO for the first time. Bezos will be replaced by Andy Jassy, a company executive who joined Amazon in 1997, only three years after its founding

Continue reading →

Former Alibaba Chairman Jack Ma Is Missing

01.04.21 - Billionaire Jack Ma, the founder Alibaba Group and formerly served as its executive chairman, is suspected to be missing

Continue reading →

Lockdown Home Improvement

12.28.20 - As the world spent most of the year locked down, Americans started looking around their homes in disgust and decided to do some home improvements in a big way

Continue reading →

What Do Longhorns, Oracle, and Tesla Have In Common? Texas

12.14.20 - Silicon Valley has long been the epicenter of the tech industry for many decades, starting in 1938 when Bill Hewlett and David Packard started tinkering in a Palo Alto garage. Of course, the descendant of the company they founded, Hewlett Packard Enterprise, has ended up moving its headquarters to Texas

Continue reading →

The Resilience of Big Restaurant Chains

12.07.20 - Covid-19 has been brutal for big tenants of American shopping centers, such as clothing stores and cinemas. Not so for the casual eateries that surround these outlets. Many of America’s sit-down dining chains are on track to emerge stronger after two-quarters of pandemic-driven innovation. The final hurdle is the winter

Continue reading →

Holiday Stress on E-commerce

12.07.20 - E-commerce has become a lifeline for consumers and companies during the COVID-19 pandemic. E-commerce has always been stretched to the limits during this time of the year, but this holiday season, online shopping will strain the industry as never before. An estimated three billion packages will go through the nation’s shipping infrastructure — around 800 million more than the previous year

Continue reading →

Germ Bonanza II

11.09.20 - The federal government is swamped with reports of potential fraud in the Paycheck Protection Program, according to government officials and public data, casting a shadow on one of Washington’s signature responses to the coronavirus pandemic.Congress and the White House designed the PPP to give small businesses fast and easy access to taxpayer funds, and it worked: About $525 billion in loans were distributed to 5.2 million companies between April 3 and Aug. 8. Many business owners say it was a lifeline in turbulent times

Continue reading →

Las Vegas Hyperloop Debut

11.09.20 - The future of transportation could possibly be taking shape as Virgin Hyperloop gave the first test ride on its track recently in Las Vegas, but the futuristic form of transportation will take years before the everyday public could potentially become equated with the high-speed rides on a hyperloop. A hyperloop is a bold, new transportation system in which people travel in a small pod within a vacuum tube at speeds as high as 600 mph (Might sound crazy, I know)

Continue reading →

Restaurants Are Suing Grubhub

11.02.20 - Restaurants are suing Grubhub for listing them without permission. Two restaurant owners have filed a $5 million lawsuit against the delivery service Grubhub. The owners previously turned down a partnership with Grubhub and say that the company’s actions have caused order confusion and reputational damage to their businesses. The lawsuit claims that similar false listings have victimized at least 150,000 other restaurants

Continue reading →

We're Still Disinfecting Everything

11.02.20 - It feels as if it’s been a lifetime since the pandemic initially hit American shores, but as coronavirus cases rise again, many people are still wiping down surfaces like crazy and that's continuing to boost sales for Clorox

Continue reading →

Germ Bonanza I

10.26.20 - Personal Protective Equipment has become a bonanza of absurd proportions. The global economy threw itself into high gear virtually overnight to cash in on the demand for pandemic equipment. One county has stood out among the others raking in billions for its already-dominant position in the rubber glove industry, Malaysia

Continue reading →

Cineworld Group Suspends Operations

10.05.20 - Cineworld Group, the owner of Regal Cinemas, will suspend operations at all of its theaters in the United States and the United Kingdom beginning at the end of this week - which will affect 45,000 employees of the company

Continue reading →

London's Not Calling - Uber Competitor Denied License

10.05.20 - London transport officials have refused to grant a new license to Ola over safety concerns, stating that the Indian ride-hailing app is not "fit and proper to hold one."

Continue reading →

Consumers Go Retro

09.14.20 - Vinyl records are no longer a nostalgic relic of the past. According to new data from the Recording Industry Association of America (RIAA), vinyl sales are outpacing CD sales in the United States for the first time in over 30 years. Sales of vinyl records accounted for about $230 million of all music sales in the first half of this year, compared to CDs which brought in just under $130 million

Continue reading →

Oracle Moves to Make Deal With TikTok

09.14.20 - TikTok and Oracle are preparing to become partners in the United States as a deal has been struck to satisfy national security concerns raised by officials in the US government. An executive order was signed last month seeking to ban TikTok in the United States and require that the companies US operations be separated from its Chinese parent company, ByteDance

Continue reading →

"Netflix of China" Accused of Fraud

08.17.20 - Investors have signaled an extreme cautiousness towards iQiyi, the online streaming provider often referred to as the "Netflix of China," as the SEC investigates allegations of inflated earnings

Continue reading →

Stimulus Sneakers

08.10.20 - Consumers now have more money in their pockets due to government stimulus checks — and apparently many are using it at malls and online to buy new sneakers, which is great news for companies like Foot Locker. The sneaker chain previewed its second-quarter results Monday ahead of the official release, saying sales were much better than expected and added it will actually report a profit

Continue reading →

Drama Between The Golden Arches

08.10.20 - Former McDonald's CEO Steve Easterbrook misled the McDonald’s board about his relationships with employees, the company has alleged in a new lawsuit. He lied to investigators about engaging in sexual relationships with three employees in the year before his ouster, according to released documents

Continue reading →

A New Billionaire Every Week

07.27.20 - In Mainland China, the markets are a different story from Hong Kong. China’s IPO market is making a new billionare every week. At least 24 people have become billionaires this year through June from the country’s raging market for initial public offerings, including former teachers, accountants and software developers

Continue reading →

Under Armour Facing Civil Charges

07.27.20 - Under Armour, the famous sportswear company, recently received a notice stating that they could face civil charges for past accounting practices. The notice was directed at two of the companies highest-ranking executives

Continue reading →

Japan Paying Companies Billions to Leave China

Japan’s government will begin subsidizing some companies to invest in factories in Japan and South-East Asia as part of efforts to reduce reliance on manufacturing in China

Continue reading →

24 Years Later Ford Brings Back the Bronco

07.13.20 - Jeep has the wildly popular Wrangler, Land Rover just brought back the Defender in 2020, now Ford has tipped its hand for the grand unveiling of the 2021 Bronco. The Jeep Wrangler hasn't had competition in years and it has sold millions of them. Now Ford threatens to eat half of that market. After leaving Jeep to dominate this market for decades, Ford has it's work cut out for it

Continue reading →

Fisker Goes Public

07.13.20 - Fisker, an electric vehicle maker and considerably smaller rival to Tesla, is expected to become a publicly-traded company following a merger backed by private equity firm Apollo Global Management

Continue reading →

BP Betting On Green Future

06.29.20 - British Petroleum (BP) has agreed to sell its petrochemicals business to Ineos for $5 billion, as BP intends to sell a series of asset to refocus on cleaner energy. Ineos will fork over an initial payment of $400 million, BP announced in a statement Monday. The UK chemicals company Ineos will subsequently deliver an additional $3.6 billion once the sale is completed, and the final $1 billion will be due before June 2021

Continue reading →

McDonalds is Assembling An Army

06.22.20 - McDonald's plans to hire 260,000 people this summer in the United States as it begins to open up normal operations for the first time since the lockdown was put in place as a response to the COVID-19 pandemic

Continue reading →

24 Hour Fitness Files For Chapter 11

06.15.20 - Gym chains nationwide have been severely impacted after the Covid-19 pandemic forced them to completely shut down their gyms and workout facilities for months. In May, Gold’s Gym filed for bankruptcy after releasing a statement saying that the current pandemic had greatly affected the global chain. The month before filing for bankruptcy Gold’s was forced to permanently close down 30 locations. The company did, however, reassure that they fully expect to emerge from bankruptcy in August

Continue reading →

Airline Industry Prepares For Emergency Crash Landing

06.08.20 - Plummeting demand for travel has forced two major US carriers — Delta Air Lines and American Airlines — to gut their workforces through voluntary exit programs and layoffs

Continue reading →

Hertz Files for Bankruptcy

05.26.20 - Hertz, the American car rental company, has announced it has filed for bankruptcy due to the sudden shock brought about by the current pandemic – especially to the travel industry. The company has been around renting cars since 1918, when it opened up with a dozen Ford Model Ts. The company stated that it has no intention of shutting down, but rather the bankruptcy is intended to assist in restructuring it debts to emerge financially healthier

Continue reading →

Airline Industry in Tailspin

05.11.20 - Under normal circumstances, workers within the airline industry have some of the highest job security of any field. Today, they are quickly becoming the most at-risk of losing their job. Executives throughout the industry have been straightforward that job cuts are coming, with some estimating that up to a one-third of the industries jobs could be cut

Continue reading →

GE Aviation to Cut 13,000 Workers

05.05.20 - General Electric Co. is cutting roughly 13,000 jobs in its jet engine business, expanding its planned cost-cutting efforts as the coronavirus pandemic cripples the aviation industry

Continue reading →

Nordstrom May Be the Last Department Store Standing

04.27.20 - Department stores were already getting pulverized by the retail apocalypse and by the invisible hand taking the form of Amazon. Now to add insult to injury, they get hit with a pandemic. Nordstrom can withstand a year to a year and a half of store closures, however other department stores like Macy’s have far less time should stores remain shuttered

Continue reading →

The College Ole Try

04.20.20 - The complete upheaval of the status quo for many universities and colleges has been unprecedented during the novel coronavirus outbreak. Campuses have been closed down for about a month and many seniors will never experience the immense joy and enormous pride that comes from having participated in your college graduation ceremony. Many entrance examinations and interviews have had to be completely scrapped

Continue reading →

It's Luckin Like Fraud

04.20.20 - Luckin Coffee Inc the Chinese coffee chain once said to become a contender to rival Starbucks has been under fire. Shares slid sharply by 81% earlier this month after an internal investigation had shown that the company's COO Jian Liu and other employees fabricated sales transactions. The accounting fabrication was equal to about 40% of its annual sales overstating their numbers buy a dollar amount of $310 Million (Y2.2 Billion Yaun). Its valuation has fallen to just above $1 Billion significantly down from it's previous $4 Billion valuation immediately post IPO

Continue reading →

The Oil War Hits Pause

04.13.20 - In a ceasefire in the OPEC price war, Saudi Arabia, Russia and the U.S. agreed to lead a multinational coalition in major oil-production cuts after a drop in demand due to the coronavirus crisis and a Saudi-Russian feud that devastated oil prices right down to the extraction margin. The deal, sealed Sunday, came after The White House intervened to help resolve a Saudi-Mexico standoff that jeopardized the broader pact

Continue reading →

Would You Like to Use Your Lifeline?

04.06.20 - The economics of the restaurant industry has changed dramatically over the course of only a few weeks. The coronavirus relief bill enacted last week is a small sliver of hope for owners who may qualify for loans covering two and a half months of their payroll. Applications begin soon, but many are wondering if they can keep their doors open until the relief arrives

Continue reading →

Now Hiring

03.30.20 - The current coronavirus pandemic has drastically altered our economic habits, and many businesses find themselves scrambling to adjust to what is currently, and for the foreseeable future, the new normal in this new reality brought about by this global pandemic

Continue reading →

A Toast To Libation!

02.17.20 - Let us all raise our glasses to the best wine retail values in 20+ years! The price of wine is anticipated to drop to its lowest level in years as California experiences a surplus in the grapes it uses to manufacture its wine

Continue reading →

Betting Against Tesla, A Good Way To Get Short Squeezed

02.10.20 - Last week was a wild week for traders. Tesla shares went full steam towards $1,000 surging past a record $968 a share Tuesday due to strong Q4 earnings overshooting the street’s expectations up from $480 this January. The era of uncertainty for Tesla has been over for awhile, with production delays, supply chain shortages, and cost overruns. This is no longer the cute, risky, electric car venture/experiment that your uncle Greg at Thanksgiving dinner was assuring you would fail like solar company Solyndra

Continue reading →

Blue Bottle vs. Starbucks

02.03.20 - Coffee, the fuel that gets us through the day. Starbuck’s place as the reigning coffee brand is being challenged. Blue Bottle, the upscale coffee chain currently valued at $700m after swiss food giant nestle acquired a majority stake, is sipping Starbucks margins in urban markets

Continue reading →

"We"are Under New Management

02.03.20 - Recently WeWork announced the hiring of Sandeep Mathrani as its new CEO. Mathrani, who has vast experience in real estate, looks set to turn the embattled real estate startup around. Mathrani, who was previously chief executive of Brookfield Property Partners’ retail group (no affiliation), will have the daunting task of developing and executing a plan for WeWork as the company looks to refocus on its original core mission and model

Continue reading →

Business After Brexit

01.21.20 - JPMorgan Chase has announced the purchase of a building in central Paris to house over four-hundred potential incoming staff members. The bank revealed the intention of the purchase was a move to relocate certain services from London to mainland Europe in preparation for Britain’s departure from the European Union. This move is anticipated to make the French metropolis the U.S. bank's second-largest base in Europe after London

Continue reading →