Tuesday, August 9, 2022
Rolls-Royce plans to bring an electric vehicle to market within the decade, Automotive News Europe reports.  There isn't much demand for an EV from the company's customers, but the brand is developing one because many cities plan to ban gas-powered cars in the not-too-distant future.  Bentley, one of Rolls-Royce's competitors, has advertised more ambitious plans…
Steve Parsons-WPA Pool/Getty Images Inovio Pharmaceuticals tumbled as much as 39% on Monday after the biotech firm announced a temporary hold on its coronavirus vaccine's phase 2/3 trial.The study is on "partial clinical hold" until questions asked by the Food and Drug Administration are answered, Inovio said in a press release. The company plans to…
The United Nations is the latest to weigh in on the crisis involving Kashmir and India. The world body said Prime Minister Narendra Modi’s actions earlier this week “will exacerbate the human rights situation.” The Indian government has cut off telecommunications to the region of Jammu and Kashmir, driven out tourists and journalists, stationed approximately…
Tesla will start using cobalt-free batteries in certain Model 3s made in China, two unnamed sources told Reuters.  Cobalt is very expensive to mine and its production is linked to human-rights violations. In China, Tesla wants to use cobalt-free batteries in all standard-range Model 3s, the sources said. Visit Business Insider's homepage for more stories.…
President Donald Trump announced Brett ­Kavanaugh as his Supreme Court nominee Monday night, in a primetime televised event. Judge Kavanaugh, a U.S. Circuit Court judge for Washington, D.C., would fill the vacant seat left by retiring Justice Anthony Kennedy, who announced his departure in late June. Calling Trump’s Supreme Court nomination an “honor and privilege,”…
Reuters / Brendan McDermidAll major US equity indices plunged Thursday, with the S&P 500 and Dow Jones industrial average entering correction territory. That means they've both fallen more than 10% from recent highs. A Stoxx Europe 600 also entered correction territory.  The sell-off comes amid worsening news surrounding the ongoing coronavirus outbreak. Visit Business Insider's…
Two of WeWork's biggest rivals are cashing in on the collapse of its IPO, its rescue by SoftBank, and its ongoing overhaul. "Thank you, WeWork," IWG CEO Mark Dixon told Fast Company, adding that the coworking startup's public meltdown has shone a spotlight on shared workspaces. "Landlords are considering going in our direction that maybe…
Monica Schipper/Getty Images WeWork's new interim marketing chief didn't initially want the job and only plans to stay for a matter of months, according to the Financial Times. "To be extremely honest with you I rejected the idea at first," Maurice Lévy, the 77-year-old chairman and former CEO of advertising titan Publicis, told the newspaper.…
ReutersWeWork is still waiting for a big chunk of the $9.5 billion bailout it agreed with SoftBank, according to The Real Deal. SoftBank has postponed a $3 billion tender offer scheduled to begin more than a week ago, the real-estate news outlet reported, citing unnamed sources. The holdup is causing "lots of anxiety," a WeWork…
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