GM Asks Treasury To Classify Lyriq As An SUV To Get Tax Credits
On Friday General Motors said it is petitioning the US Treasury to reconsider the classification of the company’s Electric Lyriq, and allow it to qualify for federal tax credits. The…
Jeffries Analysts Argue GameStop May Be Stalled
Researchers at Jeffries are arguing GameStop’s stock (GME) may be dead money for the foreseeable future unless the company can present Wall Street with compelling evidence otherwise. Jefferies analyst Andrew…
Bed Bath Beyond Looks To Bankruptcy, Stock Craters
Bed Bath & Beyond (BBBY) said in a statement Thursday that the company may need to resort to bankruptcy as it seeks to shore up a shaky balance sheet and…
Economist Says Strong Jobs Report Does Not Mean No Recession
One top economist has warned that even as the December jobs report came in strong, showing another month of solid employment gains, investors should remain on alert to any potential…
Salesforce Looks To Cut $3 Billion To $5 Billion
Salesforce, the software company offering cloud-based software solutions to companies to improve productivity, is looking to cut costs by between $3 billion and $5 billion. According to a report in…
Baltic Dry Index Continues To Fall
On Wednesday, the Baltic Dry Index continued its decline, adding to Tuesday’s biggest daily drop since 1984. Weaker demand across vessel segments arising from China’s ongoing battle with Covid-19, the…
Amazon And Salesforce Announce Layoffs Of 18,000 And 8,000
Amazon and Salesforce both launched massive rounds of layoffs Wednesday, starting the new year with massive cost cutting initiatives. Amazon announced it will be laying off 18,000 employees, about 5%…
Peloton To Pay $19 Million Over Defective Treadmills
On Thursday the US Consumer Product Safety Commission announced it had reached a settlement with exercise equipment manufacturer Peloton over defective treadmills which had injured users, as well as the…
IMF Says Fed’s Restrictive Policy To Remain Through 2023
In an interview with the Financial Times, Gita Gopinath, the deputy head of the International Monetary Fund (IMF), said that inflation in the US has not abated sufficiently to allow…
UK CEBR Issues Grim 2023 Economic Forecast
In its latest report, the UK-based Centre for Economics and Business Research (CEBR) predicts the world will slide into a global recession next year as numerous national economies contract in…
