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August 2, 2021

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DOJ and SEC send warning to SPACs with criminal charges against Nikola founder Trevor Milton

CNBC
CNBC – For more and to sign up click here Trevor Milton, founder and former-CEO of Nikola Corp., exits the Manhattan Federal Courthouse following an appearance in New York City, U.S., July 29, 2021. Eduardo Munoz | Reuters Federal officials used charges against Nikola founder Trevor Milton to send a......

Bolt valued at $4.75 billion as Uber rival aims to push into on-demand grocery delivery

CNBC
CNBC – For more and to sign up click here A range of products from Estonian ride-hailing start-up Bolt. LONDON — European ride-hailing firm Bolt said Tuesday that it has raised 600 million euros ($713 million) in fresh funding, as it looks to push into the rapidly-growing online grocery delivery......

The high prices of used cars may finally be dropping: Sonic Automotive president

CNBC
CNBC – For more and to sign up click here The scorching used car market is showing signs of slowing down, according to an executive at one of the top auto retailers in the U.S. “New car inventories are going to get better progressively over the next few months as......

Spirit CEO urges employees, passengers to get Covid shots, but says the airline has no mandate

CNBC
CNBC – For more and to sign up click here Spirit Airlines CEO Ted Christie told CNBC on Friday that he’s urging all passengers and employees to get Covid shots, even though the low-cost carrier has no plans to implement vaccine requirements. “Rising case counts with regard to the delta variant......

Government denies Bezos’ protest of NASA giving lunar lander contract to Musk’s SpaceX

CNBC
CNBC – For more and to sign up click here Jeff Bezos, owner of Blue Origin, introduces a new lunar landing module called Blue Moon during an event at the Washington Convention Center, May 9, 2019 in Washington, DC. Mark Wilson | Getty Images The U.S. Government Accountability Office on......

Nikola founder Trevor Milton pleads not guilty to fraud charges, released on $100 million bail

CNBC
CNBC – For more and to sign up click here Trevor Milton, founder of Nikola Corp., exits federal court in New York, U.S., on Thursday, July 29, 2021. Angus Mordant | Bloomberg | Getty Images Nikola founder Trevor Milton pleaded not guilty to fraud charges in a Manhattan courtroom Thursday afternoon......

Space start-up Varda, founded by SpaceX and Founders Fund veterans, aims to build factories in orbit

CNBC
CNBC – For more and to sign up click here Varda co-founders Delian Asparouhov, left, and Will Bruey. Varda Space Industries Varda Space Industries, a start-up founded less than a year ago by a pair with experience at Elon Musk’s SpaceX and Peter Thiel’s Founders Fund, has now raised more......

U.S. prosecutors charge Trevor Milton, founder of electric carmaker Nikola, with three counts of fraud

CNBC
CNBC – For more and to sign up click here CEO and founder of U.S. Nikola, Trevor Milton speaks during presentation of its new full-electric and hydrogen fuel-cell battery trucks in partnership with CNH Industrial, at an event in Turin, Italy December 2, 2019. Massimo Pinca | Reuters Trevor Milton,......

Uber shares drop as Softbank plans to sell shares to cover Didi losses

CNBC
CNBC – For more and to sign up click here SoftBank is selling about one-third of its stake in ride-hailing company Uber to cover losses on its investment in Chinese ride-hailing company Didi, two people familiar with the matter told CNBC. It’s planning to sell 45 million shares, which will......

Ford raises its 2021 outlook after surprise second-quarter profit

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CNBC – For more and to sign up click here DETROIT – Ford Motor raised its earnings guidance for the year after reporting a surprise profit in the second quarter, saying demand for profitable new vehicles such as the Ford Bronco SUV will boost its performance. Its revenue slightly missed......

Flagstaff Mayor Deasy, Tó Nizhóní Ání, Local Leaders Support Clean Transportation Investment

@BreaknNews
 PHOENIX – July 28, 2021 – — (Flagstaff, AZ) — Flagstaff Mayor Paul Deasy and community leaders urged Arizona’s elected leaders in Washington to support federal investments in clean transportation infrastructure in Flagstaff, the Navajo Nation and Northern Arizona. The press conference was sponsored by Moms Clean Air Force Arizona......

Boeing posts surprise profit as aircraft demand rebounds from pandemic slump

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CNBC – For more and to sign up click here A Boeing 737 MAX airplane lands after a test flight at Boeing Field in Seattle, Washington, U.S. June 29, 2020. Karen Ducey | Reuters Boeing reported its first quarterly profit in almost two years on Wednesday, boosted by a surge......

Shipping prices may be heading higher but are ‘not super yet,’ analysts say

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CNBC – For more and to sign up click here A ship unloader unloads iron ore at a dock in Suzhou, Jiangsu province, China, April 6, 2021. Costfoto | Barcroft Media | Getty Images Shipping rates may be rising, but they are “not super yet,” according to one analyst. Dry......

UPS stock slides after U.S. delivery volume declines

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CNBC – For more and to sign up click here Tournament employees work to squeegee the court after rain delays a match between Kim Clijsters and Sloane Stephens during the Truist Atlanta Open at Atlantic Station on July 26, 2021 in Atlanta, Georgia. Casey Sykes | Getty Images Shares of......

American Airlines warns about jet-fuel shortages around the U.S., asks pilots to conserve

CNBC
CNBC – For more and to sign up click here American Airlines flight 718, the first U.S. Boeing 737 MAX commercial flight since regulators lifted a 20-month grounding in November, takes off from Miami, Florida, U.S. December 29, 2020. Marco Bello | Reuters American Airlines on Monday said it might......

Tesla reports more than $1 billion in net income during Q2, up tenfold from a year ago

CNBC
CNBC – For more and to sign up click here SpaceX founder and Tesla CEO Elon Musk visits the construction site of Tesla’s gigafactory in Gruenheide, near Berlin, Germany, May 17, 2021. Michele Tantussi | Reuters Tesla reported earnings after the bell Monday, and it’s a beat on both top and......

Are electric cars ‘green’? The answer is yes, but it’s complicated

CNBC
CNBC – For more and to sign up click here An electric vehicle charging point in Stoke-on-Trent, England. Nathan Stirk | Getty Images News | Getty Images The number of electric vehicles on the world’s roads is surging, hitting a record number last year. That would seem to be good......

Former Virgin Galactic CEO to launch on the company’s next spaceflight test

CNBC
CNBC – For more and to sign up click here Virgin Galactic CEO George Whitesides CNBC | Michael Sheetz George Whitesides, the former CEO of Virgin Galactic, will fly on the company’s next spaceflight test, CNBC has learned. Sir Richard Branson made the announcement at a party on July 11......

GM issues second recall of Chevy Bolt EVs after vehicles catch fire

CNBC
CNBC – For more and to sign up click here The Vermont State Police released this photo of the 2019 Chevrolet Bolt EV that caught fire on July 1, 2021 in the driveway of state Rep. Timothy Briglin, a Democrat. Vermont State Police General Motors has issued a second recall......

Uber to buy transportation logistics company Transplace in $2.25 billion deal

CNBC
CNBC – For more and to sign up click here An Uber Freight truck. Source: Travis Kalanick | Twitter Uber Freight, the rideshare company’s trucking division, said Thursday it’s acquiring Transplace in a deal that values the transportation logistics company at $2.25 billion. Uber shares dipped slightly in premarket trading.......

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