Markets
Electric vehicle startup Rivian gets $2.5B in added funding
Rivian , which has grown from stealthy startup to lead candidate to bring the first electric pickup to market, announced the new investment Friday. It can afford not to, because it seems like every other month the company-which has yet to release its first trucks, the R1T pickup and R1S SUV-gets another huge cash infusion from excited believers. [Full Article...]
Harley-Davidson cuts 500 jobs in latest round of layoffs
Still, Zeitz declared back in April it was time for a change. "Because of my observations and evaluation, I've concluded that we have to take vital actions and rewire the corporate now when it comes to priorities, execution, working mannequin and technique to drive sustained revenue and long-term development", he mentioned in April. [Full Article...]
Ontario confirms 116 new cases of COVID-19, 7 more deaths
Wajid Ahmed. Had the new cases been confined to a single day, it would have been the largest one-day jump in numbers since the end of May. Resolved cases now stand at 88 percent of the total Ontario caseload of 36,464 cases. Ontario's Ministry of Health reported 130 new cases of COVID-19 provincewide on Saturday, with 18 public health units recording no new cases at all. [Full Article...]
Muji's U.S. unit files for bankruptcy as virus hits
The company has listed assets between $50 million and $100 million, and liabilities within the same range, according to the company's Chapter 11 filing in Delaware. Monthly same-store sales at Ryohin Keikaku's Japan outlets fell by about a half during a state of emergency in the country during April and May. Last year, Bloomberg said, it had a loss of around $10 million, according to its bankruptc... [Full Article...]
Canada added almost one million jobs in June as businesses reopen
And the underutilization rate - which counts those who are unemployed, those who want a job but didn't look for one, and those working less than half their usual hours - was 28.3 for women and 25.5 per cent for men. Statistics Canada also observed employment among core-aged workers with children grew substantially faster for fathers compared to mothers. But every province added at least a small n... [Full Article...]
Coronavirus Victoria: Huge fine over birthday party's 'ridiculous' KFC trip
The incident happened when the police went to check the backyard birthday party after paramedics spotted two people at a KFC outlet in Dandenong suburb ordering food for 20 people at 1:30 am. Police had conducted nearly 1,000 spot checks on people at homes, business and public places across the state in the past 24 hours, he said. A Docklands couple were fined after trying to get to their Philli... [Full Article...]
Aston Martin’s first SUV rolls off the production line
Annual output at St Athan will be around 4,000 units, according to Autocar , and Aston Martin confirms that the first units will be delivered to customers later this month. The news is cheering for two reasons: one, no matter what the backdrop, the auto is still likely to do nothing but good for the Aston bottom line, and two, it's another milestone in Aston's hugely ambitious Welsh project. [Full Article...]
AirAsia shares in biggest daily fall as auditor flags 'going concern' doubts
Airlines worldwide laying off huge numbers of staff while some have already gone out of business. AirAsia on Monday had posted a quarterly loss of $188 million for the three months ending on March 31. Fernandes also said AirAsia could return to profitability next year. "There's not a lot of options, and the best one could be the Malaysian government stepping in". [Full Article...]