(Reuters) – Online used-car retailer Carvana Co would lay off about 2,500 employees, the company said on Tuesday, as part of its plan to move operations away from its inspection and reconditioning center in Euclid, Ohio and a few logistics hubs. Shares were down about 7% to $36.02. Carvana added that all impacted team members,…
Sara Lomelin offered the final TED Talk of this year’s conference of expert speakers last month, on a particularly star-studded day in Vancouver, Canada, where she followed actress Bryce Dallas Howard, TV producer Michael Schur and Tesla CEO Elon Musk, who discussed the future of his company and his plans for Twitter. Lomelin, the CEO…
By Sinéad Carew NEW YORK (Reuters) – Wall Street stocks turned lower in a volatile session and oil prices fell on Tuesday with risk appetite appearing to falter as investors turned to safe havens such as Treasuries amid fears about inflation and slowing economic growth. U.S. Treasuries rallied, with the yield on the benchmark 10-year…
(Reuters) -A New York state appeals court on Tuesday dismissed state Attorney General Letitia James’ lawsuit accusing Amazon.com Inc of failing to adequately protect thousands of workers at two New York City facilities against COVID-19. The Appellate Division in Manhattan said federal law preempted James’ claims that Amazon violated state labor law by retaliating against…
GENEVA (AP) — The head of the World Health Organization called on Pfizer to make its COVID-19 treatment more widely available in poorer countries, saying Tuesday that the pharmaceutical company’s deal allowing generic producers to make the drug was insufficient. WHO Director-General Tedros Adhanom Ghebreyesus said during a news briefing that Pfizer’s treatment was still…
Amazon has fired two employees with ties to the grassroots union that led the first successful U.S. organizing effort in the retail giant’s history. The company confirmed Tuesday that it fired Michal, or ‘Mat,’ Cusick and Tristan Dutchin of the Amazon Labor Union on Staten Island, New York. But it claims the “cases are unrelated…
By Jonathan Stempel (Reuters) -Appian Corp shares soared and Pegasystems Inc shares tumbled on Tuesday after a Virginia jury ordered Pegasystems to pay its software rival $2.04 billion in damages for misappropriating trade secrets. The damages award issued on Monday by the Fairfax County Circuit Court jury followed a seven-week trial, and may be the…
(Reuters) – U.S. Senate leader Chuck Schumer is expected to call on Tuesday for a procedural vote on Federal Reserve nominee Lisa Cook that would clear the way for a possible vote on her confirmation later in the day. Cook’s nomination stalled last month after Republicans uniformly opposed her as too “partisan” and COVID-19 kept…
By Sinead Cruise LONDON (Reuters) -Citigroup is overhauling the leadership of one of the teams linked to a ‘flash crash’ that sent European stock markets tumbling this month, three sources told Reuters. Citi is looking to name a new Head of Forward Trading in its Delta One operations based at its European headquarters in London,…
Electric Vehicles were hot thematic plays in 2020-21. That came to a screeching halt as production lines were impacted by semiconductor shortages and a Fed tightening cycle ended overzealous speculation. The sell-off in these EV plays has been brutal. Many of the stocks are down over 40% year-to-date and some are down over 90% from…
