NEW YORK—The United States Mint said on Tuesday it was unable to meet surging demand for its gold and silver bullion coins in 2020 and through January, due partly to pandemic-driven demand and plant capacity issues. Sales of U.S. gold bullion coins rose 258 percent in 2020 while silver coin demand was up 28 percent,…
US Mint Unable to Meet Surging Demand For Gold, Silver Bullion Coins
Whole Foods Must Face Lawsuit Over Its Honey Graham Crackers
NEW YORK—A federal judge in Manhattan said on Tuesday Whole Foods Market must face a proposed class-action lawsuit claiming it deceived shoppers about the contents of its 365 Organic Honey Graham Crackers. U.S. District Judge Gregory Woods said Chandra Campbell plausibly alleged that the words “Honey” and “Graham” on the box misled reasonable consumers into…
Construction Work Strongest in Three Years
Australia’s construction industry is growing at its strongest pace in more than three years, buoyed by home building activity against the backdrop of record house prices and mortgage lending. Low interest rates and the federal government’s HomeBuilder stimulus measures are among the factors driving the home building activity. The Australian Industry Group/Housing Industry Association performance…
Amazon Founder Jeff Bezos to Step Down as CEO
NEW YORK—Amazon said Tuesday that Jeff Bezos is stepping down as CEO later this year, a role he’s had since he founded the company nearly 30 years ago. Amazon said he’ll be replaced in the fall by Andy Jassy, who runs Amazon’s cloud business. Bezos will then become the company’s executive chairman. Bezos founded Amazon…
Oil Jumps 2 Percent, Hits Highest in Year as Producers Limit Supply
NEW YORK—Oil prices rose more than 2 percent on Tuesday, reaching their highest in 12 months after major producers showed they were reining in output roughly in line with their commitments. The U.S. and global benchmarks rallied as optimism about more U.S. economic stimulus added to market bullishness from supply cuts. Brent crude was up…
2 California Supermarkets Closing After City Orders Pay Hike
LONG BEACH, Calif.—Kroger Co. will close two Southern California supermarkets in response to a local ordinance requiring extra pay for certain grocery employees working during the pandemic. The decision announced by the company Monday follows a unanimous vote last month by the Long Beach City Council mandating a 120-day increase of $4 an hour for…
Rocket Startup Astra to Go Public Through $2.1 Billion Blank-Check Deal
Astra, a startup that makes small rockets to send satellites into orbit, is going public at a valuation of $2.1 billion through a deal with blank-check company Holicity Inc, the companies said on Tuesday. The deal with Holicity is expected to provide up to $500 million in cash proceeds, they said. This includes a $200…
Robinhood CEO Tells Elon Musk There Was No ‘Shadiness’ in Halting GameStop Trading
Robinhood CEO Vlad Tenev defended the app’s decision to halt trading of GameStop stocks during last week’s trading turmoil, telling Tesla CEO Elon Musk during a webcast on Monday there was no “shadiness” involved and pushing back against what he referred to as “conspiracy theories.” Musk grilled Tenev during an episode of “The Good Time Show”…
Toyota, Fiat Chrysler Drop Support for Trump Effort to Bar California Emissions Rules
February 2, 2021
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WASHINGTON—Toyota Motor Corp., Fiat Chrysler, and other major automakers said on Tuesday they were joining General Motors in abandoning support for former President Donald Trump’s effort to bar California from setting its own zero-emission vehicle rules. The automakers, which also included Hyundai Motor, Kia Motors, Mitsubishi Motors, Mazda Motor, and Subaru Corp., said in a…
Volkswagen Plans to Challenge Google With Own Autonomous Car Software
HAMBURG—Volkswagen plans to develop most of the software needed for autonomous cars in-house, the head of the German carmaker’s luxury unit Audi said on Tuesday. The carmaker is not rejecting collaborations in some areas outright, said Markus Duesmann, who as well as running Audi is also on Volkswagen’s management board, where he is responsible for…
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