Tag Archives: business

EV start-up Nikola settles with US for US$125 million

[ad_1] Electric and hydrogen-powered truck startup Nikola has agreed to a US$125 million settlement over charges that it defrauded investors after misleading them about its products, technical advances, and financial prospects. Nikola Corp. violated the antifraud and disclosure control provisions of the federal securities laws, the Securities and Exchange Commission said Tuesday. […]

Strike ends as Kellogg workers agree on new contract

[ad_1] Workers at Kellogg Co’s U.S. breakfast cereal plants voted in favor of a new contract that offers better terms for transitional employees and across-the-board wage increases, ending a weeks-long strike, the company said on Tuesday. The five-year contract ends the stalemate between the Froot Loops maker and its factory workers in Michigan, […]

Coronavirus: Small businesses again struggling

[ad_1] Surging COVID-19 cases brought on by the spread of the Omicron variant have put a damper on the “most wonderful time of year” for small business owners, as multiple provinces reinstate tough public health restrictions. Dan Kelly of the Canadian Federation of Independent Business said that last month, the organization surveyed 4,514 […]

Theranos: Why Elizabeth Holmes’ trial hinges on intent

[ad_1] SAN JOSE, CALIF. — The high-profile trial of former Theranos CEO Elizabeth Holmes boils down to a single question: Did she cover up defects in her startup’s blood-testing technology to rip off investors while potentially endangering the lives of unwitting patients? Federal prosecutors charged Holmes, 37, with 11 felony counts of fraud and conspiracy […]

Omicron: Small business grappling after 2 years of closures

[ad_1] As the December holidays neared, the Old Triangle alehouses across the Maritimes were bustling with Christmas parties and diners revelling in the festive season. But that energy vanished in recent days as the Omicron variant of COVID-19 raged across Canada and governments brought in new restrictions limiting the capacity at restaurants and […]

Biogen cuts the price tag on its Alzheimer’s drug in half

[ad_1] Biogen is slashing the price of its Alzheimer’s treatment in half months after it debuted to widespread criticism for an initial cost that could reach US$56,000 annually. The drugmaker said Monday that it will cut the wholesale acquisition cost of the drug by about 50 per cent next month. That means the annual cost […]

Pandemic again forces delay in plans for next Davos meeting

[ad_1] GENEVA – The World Economic Forum is again delaying its much-ballyhooed annual meeting of world leaders, business executives and other elites in Davos, Switzerland, amid new uncertainties about the omicron variant of the coronavirus. The forum, which repeatedly delayed, moved and finally cancelled last year’s event, says the previously planned Jan. 17-21 […]

Stock market: Asian stocks fall on concern about virus, tighter Fed policy

[ad_1] BEIJING – Asian stock markets followed Wall Street lower on Monday amid concern about the coronavirus’s latest variant and tighter Federal Reserve policy. Shanghai, Tokyo, Hong Kong and Sydney retreated at the start of a trading week that ends with many closing early for Christmas. Wall Street fell Friday as traders […]