By Nathalie Voit A group of Tesla shareholders asked a federal judge on April 15 to issue a temporary restraining order against Elon Musk to stop him from commenting on a 2018 civil securities fraud case, according to court documents filed on Friday. The stockholders are suing Tesla over money they lost after the CEO [...]
By Nathalie Voit In the latest development of the weeks-long saga between Elon Musk and Twitter, the social media service announced it will adopt a limited duration shareholder rights plan, known as a “poison pill” in the industry. Twitter’s board unanimously voted to adopt the plan due to concerns about a potential hostile takeover from [...]
By Nathalie Voit In its annual Economic Report of the President released April 14, White House economists said supply chain woes will outlast the COVID-19 pandemic. The 427-page report, produced by the Council of Economic Advisers, warned about the need to construct resilient supply chains. “Though modern supply chains have driven down consumer prices for many goods, [...]
By Nathalie Voit Peloton is increasing the price of its monthly subscription service while slashing the costs of its connected-fitness bikes and other hardware, the company said in a press release published on April 14. Effective June 1, Peloton's all-access membership for live and on-demand classes will increase from $39 to $44 a month for U.S. customers [...]
By Nathalie Voit Americans are still spending despite higher prices for food, gasoline, and other essential items, new data released on April 14 from the Commerce Department showed. Retail sales in March rose 0.5% even as inflation increased 1.2% for the month, the department said. Spending at gas stations accounted for a broad share of the increase. [...]
By Nathalie Voit The U.S. Postal Service (USPS) doubled its electric vehicle (EV) share of its future delivery fleet from 5,000 to 10,000+ vehicles, according to a press release published on March 24 from USPS. The $2.98 billion order for 50,000 next-generation delivery trucks from Oshkosh Defense includes 10,019 battery electric vehicles (BEV), or approximately 20% of [...]
By Nathalie Voit Amazon said on April 13 that it will add a 5% fuel and inflation surcharge across all product categories for U.S. sellers who use its fulfillment centers, according to a company notice obtained by CNBC. The e-commerce giant said it will implement the fee by the end of the month and that it is [...]
By Nathalie Voit A federal appeals court upheld the Biden administration’s COVID-19 vaccine mandate for federal employees issued on Sept. 9, paving the way for a revival of the public health policy that had been on hold since January. According to court documents filed last week, the New Orleans-based 5th U.S. Circuit Court of Appeals ruled 2-1 on [...]
By Nathalie Voit Strong travel demand and high fuel prices are driving up the costs of flights, Adobe said in a report published on April 12. According to data from the Adobe Digital Economy Index, U.S. airline tickets in March 2022 were 20% higher compared to pre-pandemic levels. Month-to-month, ticket prices increased by 15%. For reference, [...]
By Nathalie Voit Optimism among small business owners has plunged to a new low, according to The National Federation of Independent Business’s (NFIB) Small Business Optimism Index. The index fell for the third consecutive month to 93.2 in March, the lowest since April 2020. The index has typically averaged 98 throughout its 48-year history, NFIB [...]
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