BEIJING—Tesla Inc said on Tuesday it would work with authorities to investigate a car accident in China that local police said caused the death of a police officer and injured another. A video circulated on China’s Twitter-like Weibo and in local state media showed a Tesla Model X next to two police officers lying on…
Tesla Cooperating With Chinese Authorities After Accident Killed Police Officer
May 18, 2021
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Jaguar Land Rover Parent Company Logs Surprise Loss on $2 Billion Restructuring Charge
BENGALURU—India’s Tata Motors posted a surprise quarterly loss and took a $2.05 billion charge at the luxury Jaguar Land Rover (JLR) unit, warning that a global chip crunch and surging COVID-19 cases in the country would hurt its business. Like other carmakers in India, Tata Motors was navigating the pandemic’s impact on sales when a…
Macy’s Emerges From Pandemic by Swinging to Surprise Profit
Macy’s emerged from an unprecedented year with a surprising swing back into the profit column and it boosted its guidance for all of 2021. Sales were fueled by government stimulus checks and the massive rollout of vaccines that have emboldened Americans to head outdoors again, the company said. “Clearly our customer is ready to get…
Ransomware Attack Hits AXA Units in Asia, Irish Healthcare
A cyberattack has left Asian units of AXA, a Paris-based insurance company, crippled, part of a wave of so-called ransomware breaches on company networks around the world. A ransomware hacker targeted Asia Assistance, also known as Inter Partners Assistance, in Thailand, Malaysia, Hong Kong, and the Philippines, AXA said Tuesday. The attackers were able to…
Australian Finance Minister Confident of Keeping AAA Credit Rating
Finance Minister Simon Birmingham is confident Australia will retain its AAA credit rating after the government last week unveiled a big spending program with the release of the 2021-22 federal budget. When asked on whether the government would be responsible for a possible downgrade of its credit rating after the release of the budget, Senator…
Supreme Court Revives Oil and Gas Company Federal Appeal in Climate Change Case
May 17, 2021
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The Supreme Court on Monday has backed a bid by oil and gas companies to keep a lawsuit against them in the federal courts after a lower federal court ruled that the case should be heard in a state court. The oil and gas companies, including Shell, BP, ExxonMobil, and Chevron, had asked the nation’s…
World Economic Forum Cancels Big Event in 2021 Amid Pandemic
GENEVA—World Economic Forum organizers say they have decided to cancel their annual gathering—usually held in Davos, Switzerland, each year—this year amid concerns related to the COVID-19 pandemic. After multiple attempts to find a proper date and venue, most recently settling on hopes to hold it in Singapore in August, the forum’s organizers said in a…
Bitcoin Hits 3-Month Low, Then Rallies on Musk Tweets
LONDON—Bitcoin rallied from a three-month low on Monday in a volatile session that saw investors initially selling and then buying cryptocurrencies in the wake of Tesla boss Elon Musk’s tweets about the carmaker’s bitcoin holdings. In his latest tweet, Musk said “Tesla has not sold any bitcoin.” That seeming clarification came after weekend tweets hinted…
US Gasoline Prices Begin Stabilizing but Stations Slow to Restock After Pipeline Back Online
Gasoline prices in the United States stabilized over the weekend but stations across the southeast remain without fuel, even after Colonial Pipeline brought its 5,500-mile fuel conduit back online. The average price per gallon in America on Monday was $3.04. That was the same average as Saturday. Prices jumped in the wake of Colonial taking…
Target Joins List of Retailers that Will Not Require Fully Vaccinated Customers to Wear a Mask
Target announced Monday that they will no longer require face coverings for those who are fully vaccinated but will ask guests who have not complied with CDC vaccination requests to wear a mask in accordance with their new guidelines. “Target will no longer require fully vaccinated guests and team members to wear face coverings in…
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