Nikola Corporation (NASDAQ:NKLA) is under immense pressure on being accused of making an ‘Ocean of Lies’ about its technology. The junior electric car company market sentiments have since turned sour on the founder and chairman Trevor Milton, stepping down as the allegations continue to get out of hand. Nikola Waning Confidence Short selling firm Hindenburg
Staff Writer
Currently, the level of unemployment is very high and there are around 12 million who are out of work. The pandemic has affected over 60% of businesses that have closed doors according to Yelp and this is sad news even though equity markets seem to be performing well. It is important to note that when
Tesla Inc. (NASDAQ:TSLA) is a stock that has kept on giving, a trend that has seen it outperform the overall stock market. A spike to record highs above $2,000 a share propelled co-founder and CEO, Elon Musk, to the third richest person in the world with a net worth of more than $110 billion. Similarly,
Walmart Inc. (NYSE:WMT) is raising the minimum wage for its employees, even as the COVID-19 pandemic continues to take a toll on the traditional retail landscape. A good number of brick and mortar are struggling to stay afloat as the epidemic continues to disrupt shopping patterns. Amid the COVID-19 shocks, the nation’s largest retailer believes
Claims of an unidentified flying object (UFO) maneuvering the skies of New Jersey have been shot down. Social networking sites were a buzz of activity on Monday as some residents in the city claimed to have spotted and shared videos of what appeared to be a UFO navigating the skies. New Jersey UFO It all
Bitcoin crawled back to the $11,000 level after struggling for direction on pulling back from a one-year high of $12,400 in August. However, the flagship cryptocurrency is struggling to hold on to gains above the $11,000 handle as a resurgent dollar continues to curtail any upside gains. Bitcoin Pull Back Fuelling doubts of further upside
The real estate industry seems to be doing well, given the amount of investments streaming into the sector. In the aftermath of the COVID-19 pandemic, investors have flocked the industry in pursuit of highly undervalued properties and investments. Berkshire Hathaway, which has been on an investment spree, is the latest to bet big on U.S.
Cryptocurrency mainstream adoption is gaining traction going by recent developments in the burgeoning sector. Bahamas is the latest country to affirm a strong interest in the blockchain revolution with plans to launch a national cryptocurrency. Bahamas National Cryptocurrency The Caribbean island nation has confirmed plans to launch a central bank-issued cryptocurrency in October. Sand Dollars
The Exchange Traded Fund marketplace has been on a roll in 2020 on investors seeking diversified exposure to a volatile stock market, hit hard by the COVID-19 pandemic. Things are not expected to cool any time soon, with companies posting impressive results amid the pandemic shocks. Oracle Corporation (NYSE: ORCL) reaching an agreement that will
Chinese firms are increasingly feeling the effects of escalating tensions between Beijing and Washington. While the focus has been on TikTok and Huawei in recent months, China National Chemical Corp is the latest, to feel the fallout effects. The state-owned firm is struggling to elicit strong demand on unveiling $3 billion worth of bonds. China
Strong demand for cloud-computing offerings amid the work-from-home spectacle is poised to give rise to one of the biggest Initial Public Offerings, in one of the most challenging market environments. Cloud storage software maker, Snowflake is planning to go public as it looks to take advantage of investors pouring money into the cloud market. Snowflake
TikTok has reached a landmark deal that, if approved, would safeguard its operations and future in the U.S. Oracle Corporation (NYSE:ORCL), and ByteDance have reached an agreement that will see TikToKs operations merged with Oracle. However, the viral video sharing app will not be acquired outright as initially thought. ByteDance has already confirmed it will
The upcoming U.S presidential election is the most heated and pivotal in recent history. A divided country along racial and policy lines means a lot is at stake, more than ever. Democratic presidential aspirant Joe Biden and the current officeholder President Donald Trump have already traded jibes as to why they are best suited for
TikTok is closing in on a landmark deal that could safeguard its future in the U.S. According to people familiar with the matter, ByteDance, the parent behind the viral video sharing app, is pressing forward with plans for a sale despite recent concerns. TikTok Sale Uncertainty In the recent past, there have emerged reports that
Bitcoin has struggled to show any distinctive price movement after coming under pressure above the $12,000 level. The flagship crypto has come down tumbling and clinging on to support slightly above the $10,000 level. The sell-off came at the backdrop of the U.S Dollar strengthening across the board after crushing in the past few months.
TikTok was yet again the center of attention as a graphic video of a 33-year old committing suicide sent shockwaves in the social networking app. While the video did emanate from Facebook, some people used the chance to escalate the suicide incidence by posting the heart-wrenching incidence on the viral video sharing platform that has
Cryptocurrency mainstream adoption is gaining traction. An influx of institutional investors in the nascent field continues to accelerate adoption. Likewise, Mode Global Holdings is planning to go public, banking on the growing demand for crypto-focused investments in the market. Mode Global Holdings IPO The Bitcoin banking app is to go public as a part of
The U.S has always been considered one of the safest and best places to do business and invest. A robust legal system complimented by a government that has always stayed away of private entities has seen it top the charts as a global destination for real estate investment. However, not anymore. Deteriorating relations between the
U.S corporate debt has hit a new milestone and could pose significant dangers should the economic downturn persist. A new report by Bank of America analysts indicates that U.S corporations owe creditors as much as $10.5 trillion, nearly half the total U.S GDP. U.S Corporate Debt The massive debt holdings in the form of bonds
Exchange-Traded Funds have performed exceedingly well as extreme levels of volatility and uncertainty forced investors to pursue diversified exposure in the market. Building up with the ETF frenzy, a new Cannabis ETF has hit the market as the need to provide investors with diversified exposure to the burgeoning segment continues to heat up. Pure U.S
Samsung has scooped a major deal validating its push for opportunities for growth, in the wireless industry. A $6.6 billion 5G contract from Verizon Communications Inc. (NYSE:VZ) is the latest deal that affirms the South Korean Conglomerate ambitions in becoming a key supplier of 5G infrastructure. Samsung $6.6 Billion 5G Contract The $6.6 billion 5G
The number of Chinese companies pursuing secondary listing in the aftermath of escalating tensions between the U.S and China is on the rise. Alibaba Group Holding Ltd (NYSE:BABA) and Xiaomi are the latest tech heavyweights to see their stocks listed in the Hang Seng Index as focus shifts to the Hong Kong Stock market. Secondary
India Prime Minister Narendra Modi is the latest high profile personality to fall victim of a spike in hacking incidences on Twitter. In the recent past, security breaches have targeted the most powerful in the world as part of a new wave of cryptocurrency scams looking to scam people of Bitcoin holding. India Prime Minister
Tensions between the U.S and China are heating up as Washington threatens to ban yet another Chinese company. China’s largest chipmaker, Semiconductor Manufacturing Corporation, is the latest to find itself at crossroads amid spiraling relations between the two tech and economic powerhouses. Entity List Designation The U.S Department of Defense is in discussions over the
T-Mobile Us Inc. (NASDAQ:TMUS) has embarked on an ambitious project that seeks to ensure students don’t miss out on learning, even as COVID-19 continues to derail learning activities worldwide. The cellular service network provider has announced a $10.7 billion initiative that will deliver free internet connectivity to millions of students across the country. T-Mobile Free
Unilever is inching close to eliminating fossil fuels from its product line. The household good company has confirmed plans to invest €1 billion in cutting carbon emissions generated by chemicals used in the making of its household products. Unilever €1 Billion Fossil Fuel Reduction Plan As part of the clean future initiative, the company plans
Amazon.com, Inc. (NASDAQ:AMZN) could soon shorten delivery times to less than 30-minutes after securing a crucial regulatory approval. The Federal Aviation Administration has issued the e-commerce giant a certificate that paves the way for the company to start using drones to deliver items. The Part 135 Air Carrier certificate is of the company’s fleet of
Rising yields is the latest headache that the U.S Federal Reserve faces as it tries to reinvigorate an economy struggling to bounce back from the shackles of COVID-19. In recent days long term yields have risen to two-month highs, all but threatening economic growth. Rising Long Term Yields The 30-year had its finest run yet,
The Exchange Traded Fund market has been a buzz of activity in 2020 in the wake of the Federal Reserve cutting interest rates to record lows. Investors have continued to shun yields in favor of ETFs that continue to provide broad exposure to a stock market that shows no signs of slowing down, clocking record
Yum China Holdings Inc. (NYSE:YUMC) is ready to bounce back from the ashes of COVID-19 that threatened its existence in the first half of the year. The Chinese restaurant juggernaut is plotting a secondary share listing in Hong Kong. The company is looking to raise more than $2.5 billion from the offering taking advantage of
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