Virgin Galactic rolled out its newest spaceship Tuesday as the company looks to resume test flights in the coming months at its headquarters in the New Mexico desert. Company officials said it will likely be summer before the ship — designed and manufactured in California — undergoes glide flight testing at Spaceport America in southern […]
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WeWork will finally go public this year, allowing investors to buy and sell its shares. But not through a traditional IPO. In the two years since the office-sharing company’s failed IPO, a new way to launch a stock on Wall Street has become fashionable: SPACs. Special purpose acquisition companies have been embraced by big institutions […]
Swiss bank Credit Suisse said Monday it may have suffered a “highly significant” loss from a default by a U.S.-based hedge fund on margin calls that it and other banks made last week, while Japan’s Nomura said it could face a loss of $2 billion due to an event with a U.S. client. Credit Suisse […]
The CEOs of tech giants Facebook, Twitter and Google faced a grilling in Congress Thursday as lawmakers tried to draw them into acknowledging their companies’ roles in fueling the January insurrection at the U.S. Capitol and rising COVID-19 vaccine misinformation. In a hearing by the House Energy and Commerce Committee, lawmakers pounded Facebook CEO Mark […]
Energy companies spent the first quarter of 2021 recharging from a draining year. Wall Street expects that growth to continue as energy companies and many of the other companies beaten down by the virus benefit from the vaccine push aimed at bringing the pandemic to an end. Marathon Oil, Exxon Mobil and other stocks in […]
Japanese automakers Toyota, Isuzu and Hino said Wednesday they are setting up a partnership in commercial vehicles to work together in electric, hydrogen, connected and autonomous driving technologies. Under the deal, Toyota Motor Corp., Japan’s top automaker, and truckmaker Isuzu Motors will each take a 4.6% stake in each other, the three companies said in […]
GameStop, the video game retailer at the center of a social-media driven investment frenzy, said it lost $215 million in the 12 months ended Jan. 30 as it dealt with pandemic-related shutdowns and moved to transform itself into a more online-focused company. The company’s latest results, which fell short of Wall Street’s expectations, offered few […]
Visa is under investigation by the Department of Justice’s antitrust division over whether the company pushes merchants into more expensive forms of debit card payments, The Wall Street Journal reported Friday. The investigation is focused on how merchants route debit card transactions when a consumer makes an online transaction, according to the Journal, which cited […]
A U.S. federal judge rolled back on a Department of Defense ban on investments in Chinese budget smartphone maker Xiaomi, citing insufficient evidence that the company posed a national security threat. On Friday, U.S. District Judge Rudolph Contreras said that the court had found the Department of Defense (DoD) had “not made the case that […]
Chinese antitrust regulators are considering a record fine to slap on e-commerce titan Alibaba Group along with smaller fines against other leading technology companies in a bid to tame China’s sprawling tech industry, The Wall Street Journal reported on Thursday citing people familiar with the matter. The regulator has already issued fines on Friday to […]