Electric truck maker Lordstown warns of going concern risk; shares tank

The Lordstown Motors factory is where GM once operated, in Lordstown, Ohio, on October 16, 2020. Megan Jelinger | AFP | Getty Images U.S. electric truck maker Lordstown Motors said on Tuesday there was “substantial doubt” about its ability to continue as a going concern, sending its shares down 16%. “The company believes that its … Read more

Bitcoin slides 7% after U.S. seizes most of Colonial Pipeline ransom

A banner with the logo of bitcoin is seen during the crypto-currency conference Bitcoin 2021 Convention at the Mana Convention Center in Miami, Florida, on June 4, 2021. Marco Bello | AFP | Getty Images Bitcoin’s price slipped again Tuesday. The reason for the move was unclear, however it may be related to concerns over … Read more

U.S. boosts Taiwan’s Covid-19 fight with 750,000 vaccine doses

People wait in line at a temporary Covid-19 rapid testing center in the Wanhua area of Taipei, Taiwan, on Saturday, May 15, 2021. I-Hwa Cheng | Bloomberg via Getty Images The United States will donate 750,000 Covid-19 vaccine doses to Taiwan as part of the country’s plan to share shots globally, U.S. Senator Tammy Duckworth … Read more

G-7 nations reach historic deal on global tax reform

Britain’s Chancellor of the Exchequer Rishi Sunak (from left), U.S. Treasury Secretary Janet Yellen, Managing Director of the IMF Kristalina Georgieva and Canada’s Finance Minister Chrystia Freeland chatting on the first day of the Group of Seven Finance Ministers Meeting at Lancaster House in London on June 4, 2021. Stefan Rousseau | AFP | Getty … Read more

Stifel upgrades Northrop Grumman to buy, says defense stock can jump nearly 30%

Technicians make final preparations for Northrop Grumman’s full-scale static fire test of the first stage of OmegA, the company’s new intermediate/heavy-class rocket, in Promontory, Utah, May 30, 2019. George Frey | Reuters Investors should buy Northrop Grumman because defense industry stocks are cheap and the market will eventually realize it, according to investment firm Stifel. … Read more

Biden-Putin summit a chance to catch a ‘falling knife,’ top Russian official says

This combination of pictures created on March 17, 2021 shows US President Joe Biden(L) during remarks on the implementation of the American Rescue Plan in the State Dining room of the White House in Washington, DC on March 15, 2021, and Russian President Vladimir Putin as he and his Turkish counterpart hold a joint press … Read more

Goldman says a nuclear deal with Iran could send oil prices higher. Not everyone agrees

Official cars are seen outside Grand Hotel Wien after a session of meeting of the Joint Comprehensive Plan of Action (JCPOA) on “Iran nuclear deal talks” in Vienna, Austria on May 01, 2021. Askin Kiyagan | Anadolu Agency | Getty Images A nuclear deal between the U.S. and Iran could send energy prices higher — … Read more

Tesla faces pressure as EV competition heats up, ex-Ford CEO says

Elon Musk brought electric vehicles into the mainstream with Tesla. Now the EV company is grappling with the consequences of its own innovation, former Ford Motor CEO Mark Fields told CNBC on Wednesday. “One of the many things he did is he pushed the industry toward taking EV seriously,” Fields said of Musk, the chief … Read more

U.S. inflation is transitory but could become more persistent, says ex-Fed official Dudley

The recent spike in U.S. inflation is likely transitory for now — but it could become more persistent in the coming years as more people return to work, said former New York Fed President William Dudley. “I think that the scare right now is probably going to abate a bit as we go through the … Read more

Two pilots killed in Iran fighter plane mishap: State media

Both pilots were killed when an Iranian fighter plane suffered a technical fault before take-off in southwestern Iran on Tuesday, state broadcaster IRIB reported. IRIB did not give the details of the F-5 plane’s mishap at an air base near the city of Dezful. The age of the plane was not immediately clear. Iran’s air … Read more