California-based EV company Lucid Motors and blank check company Churchill Capital IV (CCIV) completed a merger deal on Monday night. With the deal under wraps, the EV company is one step closer to realizing its goal of going public. Churchill Capital IV shares declined by 30% following the announcement.
As...
Aerostructures manufacturer Spirit AeroSystems Holdings posted a quarterly loss on Tuesday, proving to be yet another aircraft manufacturer that has been hit by the slump in air travel caused by the COVID-19 pandemic. The company explained in a statement that this loss resulted directly from the reduction in aircraft...
Rivian Automotive Inc., an electric-vehicle startup that has received financial backing from both Amazon.com Inc. and Ford Motor Co., is determined to go public as soon as September 2021. According to sources that are familiar with the company, Rivian is expecting a valuation of $50 billion at the time...
Hong Kong Health Secretary Sophia Chan announced on Wednesday that the city plans to ease coronavirus restrictions from February 18th onwards. This will see the reopening of sports and entertainment facilities as well as the extension of dining hours in restaurants.
While catering businesses will be permitted to remain open...
The price of oil rose yet again on Wednesday, consequently resulting in the commodity extending its longest streak of gains in the last two years. This price hike is the result of falling U.S. crude stockpiles which are contributing to the shortage of global supply.
The rise in the value...
Since the initial outbreak of the COVID-19 pandemic, nationwide as well as global shutdowns have resulted in the crippling of the hospitality industry, with over 3.9 million hospitality workers being left jobless since the start of the pandemic in February 2020. In response to this dire circumstance, CareerBuilder CEO...