Musk defends timing of Tesla’s $2.6 bln deal for SolarCity
Elon Musk told a judge on Tuesday Tesla Inc (TSLA.O) had to buy SolarCity in 2016 because the failing solar panel company was essential to the electric vehicle maker’s long-term goal of accelerating the transition to sustainable energy.
Asian shares lower on U.S. inflation jitters
Asian shares fell on Wednesday after data showing the biggest jump in U.S. inflation in 13 years fuelled some market expectations that the Federal Reserve could exit pandemic-era stimulus earlier than previously thought.
American Airlines forecasts first positive cash flow since pandemic began
American Airlines (AAL.O) said on Tuesday it expects positive cash flow in the second quarter for the first time since the pandemic began, reversing a trend of cash burn of about $100 million a day when global travel had ground to a halt.
JPMorgan profit soars on recovery but questions linger over lending outlook, competition
JPMorgan Chase & Co (JPM.N) second-quarter profits jumped 155% as the U.S. economy continued to rebound, but executives warned on Tuesday that the sunny outlook would not make for blockbuster revenues in the short term due to low interest rates, weak loan demand and a slowdown in trading.
Boeing cuts 787 production, suffers 737 MAX cancellation
Boeing Co (BA.N) said on Tuesday it will cut 787 production after finding another production-related structural defect, and a major customer partially canceled a 737 MAX order, in a double hit to the U.S. planemaker’s COVID-19 pandemic recovery.
Asia shares bounce as mood shifts, sentiment fickle
Asian shares were enjoying a relief rally on Monday as record highs on Wall Street and policy easing in China helped calm some of the recent jitters on global growth, though plenty of potential pitfalls lay ahead this week.
Robinhood IPO faces threat of retail snub on Reddit
Online brokerage Robinhood Markets Inc, which helped enable the “meme stock” frenzy earlier this year and later attracted flak for its handling of the trading mania, is facing pushback on social media forums against its initial public offering.
As meme stock momentum fades, AMC, GameStop fall
Shares in so-called meme stocks with a following among retail investors lost ground on Wednesday, with AMC Entertainment (AMC.N) shares down 8.1%, on track for their fourth straight day of declines, and GameStop Corp (GME.N) falling 4.9%.
Factbox: Bezos, Branson and Musk: Who is winning the space tourism race?
Three billionaire entrepreneurs – Jeff Bezos, Elon Musk, and Richard Branson – are each vying to usher in a new era of private commercial space travel.
Nikola shareholders reject executive pay proposal
Shareholders of Nikola Corp (NKLA.O) have voted against a proposal to approve compensation awarded to its “named executive officers,” including $159.2 million to founder and former executive chairman Trevor R. Milton that was later reduced, the electric truck maker said on Tuesday.
