Payday is here for Elon Musk
Tesla’s CEO has cleared a milestone that will allow him to buy 1.7 million company shares at a much lower than market price, making a paper profit of more than $700 million. Claudia Assis reported the news for MarketWatch: Tesla Inc. Chief Executive Elon Musk has earned the first portion of a windfall payout tied […]
Local TV stations running Amazon’s PR on workplace safety
Local news stations are running a segment produced by Amazon touting its efforts to keep warehouse employees safe from the coronavirus, reports Annie Palmer of CNBC.com. Palmer reports, “It’s unclear how many television stations ran the segment. At least two stations promoted the segment on Twitter, while other TV reporters on Twitter called out Amazon for sending them […]
Utah media demand government release names of businesses
Utah-based media outlets are demanding that Utah County release the names of two businesses that county executives say ignored COVID-19 guidelines, reports Connor Richards of the Daily Herald. Richards reports, “The other media outlets represented in the letter include The Salt Lake Tribune, the Deseret News, Fox 13 and KUTV. “Both state and county health department […]
VW loses Dieselgate case at German court
Germany’s top court ruled against Volkswagen in the so-called Dieselgate case, ordering the company to compensate car owners. Ilona Wissenbach reported the news for Reuters: Volkswagen (VOWG_p.DE) must pay compensation to owners of vehicles with rigged diesel engines in Germany, a court ruled on Monday, dealing a fresh blow to the automaker almost five years […]
Facebook makes remote work permanent
Facebook is making remote work a permanent fixture, expecting half of its employees to work remotely in 10 years. Emily Bary from MarketWatch reported: Facebook Inc. FB, +0.61% Chief Executive Mark Zuckerberg expects that as much as half of Facebook’s workforce will work from home within 10 years, according to The Wall Street Journal, which […]
Ford shuts two factories on new Covid-19 cases
Ford suspended production at two factories after workers tested positive for Covid-19. CNN’s Chris Isidore reported: Just days after reopening its American assembly plants, Ford temporarily shut down two separate factories because employees tested positive for Covid-19. One plant in Chicago that builds the Ford Explorer, the Lincoln Aviator and the Ford Interceptor police car […]
Walmart reports strong sales on panic shopping
Walmart reported a 74% surge in online sales during the first quarter as people stocked up on food and other essential items. Nathaniel Meyersohn reported the news for CNN: Walmart sales soared as Americans stockpiled groceries and household essentials during the coronavirus pandemic. The retailer said Tuesday that sales at stores open for at least […]
U.S. car factories begin to reopen
The U.S. auto industry is beginning to reopen with tightened health safety measures. Ben Klayman and Nick Carey reported the news for Reuters: The U.S. auto industry is slowly returning to life, with vehicle assembly plants scheduled to reopen on Monday and suppliers gearing up in support as the sector that employs nearly 1 million […]
GM lays off 8% at self-driving car company
General Motors has laid off 8% of employees at its self-driving car unit Cruise. Jane Lanhee Lee and Davis Shepardson reported the news for Reuters: General Motors Co’s (GM.N) self-driving car unit Cruise told staff on Thursday it has decided to lay off workers, the latest start-up in the nascent industry to cut jobs during […]
Uber in talks to acquire Grubhub
Uber has reportedly approached Grubhub with a takeover offer. Greg Roumeliotis, Akanksha Rana, and Lisa Baertlein reported the news for Reuters: Uber Technologies Inc is in negotiations to buy online food delivery company Grubhub Inc in an all-stock deal, according to people familiar with the matter. A merger could give Uber Eats’ money-losing restaurant delivery […]
