A solid-state battery development lab for QuantumScape. QuantumScape The electric vehicle space has seen a handful of impressive stock market debuts in recent years, but battery start-up QuantumScape’s first few weeks of trading were remarkable even by EV stock standards. QuantumScape, which was founded in 2010, went public via a merger with a special-purpose … Read more
Lily Tomlin might have been talking about today’s stock market when she said, “No matter how cynical you become, it’s impossible to keep up.” Wall Street for months has been working to take a dimmer view of the future, brace for uncomfortably corrosive inflation and dampen its optimism on economy. Yet so far these efforts … Read more
Check out what’s clicking on FoxBusiness.com. Walmart Inc. opened its first store in China in 1996, a sprawling super center in the Hong Kong border city of Shenzhen. It has been working to find the right strategy ever since. Walmart has grown in China, but slower than competitors. Its giant hypermarkets, which it originally hoped … Read more
Check out what’s clicking on FoxBusiness.com. Revlon Inc. is preparing to file for chapter 11 protection as soon as next week after struggling for years with too much debt, stiff competition in the cosmetics business and more recent inflation and supply-chain pressures, people familiar with the matter said. The cosmetics maker, owned by billionaire Ron … Read more
Pam’s. Kenny’s. Molly’s. Lori’s. Melinda’s…Dave Thomas, a successful Kentucky Fried Chicken franchise owner in Columbus, Ohio, and a protege of founder Colonel Harlan Sanders, was struggling in 1969 to find a name for a new hamburger concept he hoped to open.The fast-food burger market was becoming saturated, but Thomas believed there was an opening to … Read more
Google’s parent company Alphabet will pay $118 million to 15,500 current and former female employees in order to settle a class action lawsuit that has been in the works for five years. The plaintiffs in the case account for a broad range of roles within the company, including managers, engineers, sales representatives and at least … Read more
The Elon Musk-Twitter drama keeps taking sometimes bizarre, unexpected turns so whatever I write here could be moot not long after the ink dries. It’s always been dangerous to talk in absolutes about Musk. He is said to be genius-level smart but he’s done some really dumb things (weird tweets nearly got him jammed up … Read more
Wells Fargo is under criminal investigation after bank managers were accused of conducting sham interviews with minority and female candidates for roles that were already filled in order to boost the bank’s diversity statistics. The probe is being led by the new civil rights unit within the criminal division of the Manhattan U.S. attorney’s office. … Read more
I was amazed when I got the breaking news alert on my phone here in Hong Kong at 8:48 p.m. Thursday. The Alibaba Group Holding (BABA) spinoff Ant Group is reviving plans for its initial public offering. “Wow, things have really turned full circle,” I thought to myself. After all, it was Ant’s initial plans … Read more
Finding the perfect Father’s Day gift isn’t always the easiest of tasks, especially when there are so many options to choose from and you’re under a time crunch. You could always go with a personalized gift or a thoughtful gift basket to send straight to his door, but you might be looking for something a … Read more