Nissan plans to invest $17.6 billion over 5 years towards EVs

• Over the course of 5 consecutive years, Nissan plans to invest about 2 trillion yen or $17.6 billion US into efforts related to electric vehicles
• On November 29, Nissan said that the company would aim to roll out 23 new electric car models by 2030, and 15 of which will be fully-electric
• The firm is also planning to introduce all-solid-state batteries, or ASSB, to the market by 2028

Box office sites crash as demand for Spider-Man: No Way Home tickets surge

• At 12 AM EST, tickets for Marvels “Spiderman: No Way Home” film went on sale and the amount of ticket requests crashed domestic box office sites
• Box office analysts say that this amount of anticipation for a film has not happened since 2019 when advanced ticket sales for Avenger’s Engame and Star Wars: The Rise of Skywalker came on sale

Price of oil increases after experiencing heavy losses Nov. 26

• On November 29, oil prices increased which helped to recoup part of the heavy losses on Friday, November 26
• The incitial drop in price was prompted by fears that teh new omicron Covid variant would curb demand for petroleum products
• West taxas Intermediate crude futures gainied about $2.72 (4%) on November 29, to trade at $70.87 

Lululemon files patent lawsuit against Peloton for copying sports bras and leggings designs

• In a growing feud over the designs of its sports bras and legging, Lululemon has filed a patent lawsuit against Peloton
• On November 29, in the case filing, Lululemon said it is seeking control against Peloton’s infringement of its intellectual property rights
• Peloton has said that its own athletic apparel merchandise is easy to decipher from Lululemon’s but there is still much debate as Lululemon says Peloton has infringed on 6 of its patented designs

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• Peter Rawlinson, the CEO of Lucid thinks that there’s a bright future for the company and believes that the start-up’s stock and market cap will surpass tesla and other automakers
• Currently, Lucid’s market cap is around $73 billion and is approaching the market cap of Ford at $79.4 billion

New report says Walmart topped its earnings estimates despite rising inflation 

• For Walmart’s third-quarter fiscal earnings, it topped the expectations of analysts as grocers looking for deals came to its stores during a time of rising costs for household goods
• Inventory for Walmart in the U.S. is up 11.5% ahead of the busy shopping season, Doug McMillon, the CEO of Walmart, said

After offering 23.9 million shares at $46 each, Peloton nets $1 billion

• On November 16, Peloton says that it plans to sell about 23.9 million shares of its Class A common stock at a price of $46 a share which has netted the company about $1.07 Billion
• In its announcement Tuesday, the connected fitness equipment maker said the proceeds would be used for general corporate purposes like construction and investment in new products

Oil giant, Shell plans to move its headquarters to the UK

• In an effort to simplify the company’s structure, Royal Dutch Shell will soon ask shareholders to vote on shifting its tax residence from the Netherlands to the UK
• In addition to this, Shell wanted to eliminate its dual share structure in favor of just one class of shares

United States plans to sell crypto worth $56 million after record seizure in fraud case

• As a part of a large Ponzi scheme case against a man who promoted a crypto lending program “BitConnect”, the US Justice Department will sell $56 million worth of seized crypto
• According to authorities, the liquidation of this cryptocurrency follows “the largest single recovery of a cryptocurrency fraud by the United States to date.” 

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• Tesla filed an application with the Texas Public Utility Commission to sell electricity in the state as the company’s big battery build-out in Angleton, Texas comes online
• The company aims to connect a 100 megawatt energy storage system to the grid and has already built several utility-scale energy storage systems across the globe

Disappointing earnings cause Peloton stock to fall 

• On August 26, Peloton reported that revenue growth in their 4th fiscal quarter dropped off dramatically
• The company posted a bigger-than-expected loss as costs from its treadmill recall mounted and also offered up a disappointing revenue outlook for its 2022 first quarter

Ford F-150 pickup truck production cut due to chip shortage

• Due to the ongoing semiconductor shortage, Ford is cutting production of another one of their vehicles, their F-150 pickup truck along with 2 others starting August 30
• The two other vehicles experiencing the cut in production are the Ford Edge and Lincoln Nautilus crossovers
• Ford has been impacted particularly hard by the lack of chips, losing about 50% of its planned production in the second quarter.

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• Today vehicle manufacturer General Motors confirmed they will be offering a fully-electric full-size pickup truck
• Slated for production in April 2022, General Motors plans this electric variant of the Chevrolet Full-size pickup
• General Motors plans to release 30 Electric vehicles globally by 2025; they plan to invest $27 billion in the project

US Government advises residents against travel to UK due to rise in coronavirus cases

• The CDC and State Department have advised US travelers to avoid the United Kingdom as the country reaches “Level 4” in their tier system
• The Centers for Disease Control and Prevention have said that those who are traveling to the United Kingdom regardless of warnings, should be fully vaccinated 

• Peloton has hinted that they are preparing to enter the video game sector with the debut of an in-app experience they call “Lanebreak”
• The game is a “music-based experience” where players will be able to choose difficulty levels, win points, and be awarded for doing tasks while riding
• In a push to diversify Peloton’s content for users this model is set to officially launch near the beginning of 2022

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• A 5.8% decrease in avocado shipments is what the Hass Avocado Board expects during the third quarter in comparison to the year prior
• The price of avocados are expected to rise by 10% and decrease Chipotle’s earnings by 10 to 12 cents a share

• Peloton exercise equipment has recently ended their free running feature for users of their Tread and Tread+ treadmills leaving their customers very upset
• The feature was named “Just Run” and was free to users who spent the $4000 on the product to have the digital workout content
• The new subscription for the feature will cost $40 a month

• Yesterday (for India), their data shows that over 24 hours, the country had seen 50,848 new infections which now brings the total cases in the country to 30.02 million
• In the US, the decrease in case rates have led states to reopen and lessen their restrictions but many believe could be a bad idea

• A new bill has been created ad if passed it will allow for any new child born to have a savings account with a minimum of $1000
• Based on how much money a family makes, each child will receive an annual deposit of at least $1,000 every year until age 18
• For those lower income families, the money could be upwards of $2,000
• When the child turns 18, they will have almost $50,000 in the savings account
• Those Wealthier families will not receive annual payments and will have less in their savings account

The post Business News – 06-23-2021 appeared first on Easy Ad - Local Small Business Resources.

• In Troy Township, Ohio, Peloton is going to invest $400 million to build its very first manufacturing factory in the U.S.
• By 2023, Peloton plans to be producing equipment at this factor and has plans to break ground later this summer
• In regards to Job expectations, Peloton thinks that this facility will bring more than 2,000 jobs to the Troy Township area
• For the company, demand has heightened and overseas shipments have been delayed

• The seven day average of new daily Covid cases is now down 24 percent in comparison to last week
• About 49% of the population in the U.S. has received at least one of the shots paired with a 39% fully vaccinated population, 61% are partially vaccinated out of those who are ages 18 and older nationwide 
• This Sunday (5.24.2021), New Mexico has become the 9th state to report 70% of adult residents are partially vaccinated in joining New Hampshire, Massachusetts, Maine, Connecticut, New Jersey, and Rhode Island

• Evidence that Covid-19 originally leaked from a Wuhan virology lab is growing, Dr. Scott Gottlieb told CNBC on Monday
• With other coronaviruses, SARS and MERS, researchers were able to identify the animal those diseases emerged from at this point in those outbreaks
• Global health officials will meet soon to further investigate the origins of the virus

• Virgin Galactic took a step closer to completing development of its space tourism system on Saturday
• “It was flawless,” Virgin Galactic CEO Michael Colglazier told CNBC about the flight
• Virgin Galactic’s spacecraft Unity is designed to hold up to six passengers along with the two pilots

• Breeze Airways is the second new U.S. carrier in less than a month, after Avelo debuted last month
• The carrier is the fifth airline started by JetBlue Airways founder David Neeleman
• Flights start May 27, and the carrier will add others through late July

• Greater Springfield is Australia’s first privately built city and the world’s tenth largest master planned city
• Designed around the pillars of technology, health and education, the smart city’s property tycoon founder wants it to become the next Silicon Valley
• With an emphasis on sustainability, Greater Springfield aims to produce more energy than it consumes by 2038

The post Business News – 5-24-2021 appeared first on Easy Ad - Local Small Business Resources.

• According to securities filings, Amazon CEO Jeff Bezos has sold nearly $2 billion worth of Amazon stock in the past two days
• The sales come one week after Amazon reported first-quarter earnings results, trouncing Wall Street’s expectations
• Bezos sold roughly $684 million worth of Amazon shares on Tuesday, the filings show, after unloading about $1.27 billion worth of stock on Monday
• The Amazon founder previously said he’d sell about $1 billion in Amazon stock each year to fund his space exploration company, Blue Origin, which continues to grow and on Wednesday announced it will launch its first astronaut crew to space this summer

• Google is relaxing its approach to the return to work in permitting some employees to permanently work from home
• The company will now allow employees to work from other locations for a longer period each year
• Now, Google expects that 60% of its employees will be on site for a few days a week, with 20% working in new office locations and 20% working from home

• Peloton announced Wednesday voluntary recalls of both its Tread+ and Tread treadmill machines over safety concerns
• The company is advising customers who already have the products to immediately stop using it and contact Peloton for a full refund
• CEO John Foley apologized for not cooperating with the U.S. Consumer Product Safety Commission sooner
• Peloton shares closed the day down nearly 15%, hitting a low not seen since September and this wiped about $4.1 billion from Peloton’s market value
• The recall affects about 125,000 Tread+ machines and roughly 1,050 Tread products in the U.S.

• The San Manuel Band of Mission Indians has announced plans to purchase the Palms Casino Resort in Las Vegas, making it the first tribe to own and operate a casino in the city’s resort corridor
• The transaction is expected to close in 2021, but is subject to regulatory approvals and other closing conditions, according to a news release from San Manuel
• San Manuel would be the second tribe operating in Las Vegas’ resort corridor

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