• 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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• For the first time in the history of the company and the world, Elon Musk’s SpaceX prepares to launch 4 civilians into space
• The mission is named Inspiration4 and scheduled to lift off on Wednesday nit opening at 8:02 p.m ET

Ford and Argo AI have scheduled testing with Walmart for self-driving cars in major cities

• Walmart is expanding its partnerships with self-driving vehicle companies which included Argo AI and Ford Motor
• On September 15, the companies said that the collaboration will utilize Ford’s Ford Escape hybrids along with Argo AI technology for Walmart deliveries in DC, Austin. Texas, and Miami, Florida

Pfizer claims that side effects from COVID vaccine boosters are similar to second dose

• According to new data submitted to the FDA from Pfizer, side effects from their Covid-19 vaccine booster shots are very similar to those of the second dose
• The research also found that the side effects are more likely to affect “younger people” 
• In the “phase 4 study”,  Pfizer found that out of 300 participants from ages 18 to 55, 63.7% experienced fatigue after getting their boosters, 48.4% had headaches and 39.1% felt muscle pain

The post Business News – 09-15-2021 appeared first on Easy Ad - Local Small Business Resources.

• Filed by the US Equal Employment Opportunity Commission, Walmart must pay damages in a disability discrimination lawsuit
• The lawsuit was filed after a 16-year-old Walmart employee with down syndrome  named Marlo Spaeth was fired after she struggled to manage her new scheduled hours
• In winning the lawsuit, a jury awarded Spaeth more than $125 million in damages 

England has new plans for large gigafactory as other countries also ramp up battery-production capacity

• If plans for the proposed new development in Coventry, England are built, it would focus on recycling batteries and producing batteries for electric vehicles
• This project is claiming that it could generate u to 6,000 new jobs and thousands more across their supply chain
• The facility is planned to cover an area of up to 5.7 million square feet and using 100% renewable energy

IRS Free File program will no longer include Intuit TurboTax

• Yesterday (Thursday) Inuit which is the parent company of TurboTax has announced they will no longer participate in the IRS Free File program 
• In a blog, the company reported that those who still need to file their taxes and qualify for the Free File program will be able to use the program until October

New meatless chicken nugget set to release in the fall by Impossible Foods

• Impossible Foods has been working on a new meatless chicken nugget that they plan to release this fall
• The company’s competitor Beyond Meat had released its chicken tenders earlier in July  for US restaurants 
• To mimic the taste and texture of chicken, Impossible’s nugget recipe includes soy protein and sunflower oil

The post Business News – 07-16-2021 appeared first on Easy Ad - Local Small Business Resources.

• The CDC director today (Friday) has publicly urged parents to have their tennis vaccinated against the Covid-19 virus 
• Within the first 3 months of 2021, the CDC research team has discovered that ⅓ of adolescents hospitalized with the virus have required admission to an intensive care unit
• From the 1st of January to the 31st of March, no teens had died from Covid-19 according to the CDC

• In expansion for a smaller development program for the US military, they want to leverage reusable rockets like SpaceX for cargo delivery across the go=lobe
• This experimental program is named Rocket Cargo and in the future be led by the US Space Force
• For “Rocket Cargo”, The Air Force’s 2022 budget proposal was nearly $50 million to explore and study the concept of this idea that it began with SpaceX and Exploration Architecture Corporation last year on a small scale

• For thanksgiving day, Walmart has added that their stores will be closed for the 2nd year in a row along with Target
• This move by both retail companies shows the effects of how the pandemic has changed the retail industry forever
• Walmart and Target will share their hours and plans for Black Friday at a later date

• Avengers Campus at Disneyland report, California is now open to the public
• This new park area is located in California adventure and features a dining location named Pym test Kitchen, Spider-Man attraction, and new rides and a portal to Doctor Strange’s sanctum
• The Avenger’s campus had been set to open in July last year in 2020 but was postponed due to the pandemic

• The HySeas III project has seen one of its latest developments which was receiving funding from the European Union
• The power source of this ferry has a diverse range of applications and can be deployed in transport and industry

The post Business News – 06-04-2021 appeared first on Easy Ad - Local Small Business Resources.

• The government has issued a new batch of $1,400 stimulus checks, bringing the total number of payments to almost 167 million, or about $391 billion
• This tranche included more than 1.8 million payments worth more than $3.5 billion
• Most of the payments were prompted by tax returns recently processed by the IRS

• Best Buy reports that their sales have grown 36% in the first quarter of this year as shoppers’ stimulus-fueled spending spree included consumer electronics
• The retailer has raised its forecast for the year after seeing demand continue into the second quarter
• CEO Corie Barry said the strong housing market has inspired consumers to invest in technology and appliances

• Gap and Walmart will launch a new brand, Gap Home, with bedding, bath, and décor
• The initial collection will debut on Walmart’s website June 24 and eventually be available in the discounter’s stores
• With the multiyear deal, Walmart aims to drive more online sales and Gap wants to strengthen its brand among shoppers

• Ford CEO Jim Farley largely met Wall Street’s expectations during his first investor day leading the automaker
• But Ford didn’t deliver on everything investors were hoping to have answered during the event
• Shares of Ford have roughly doubled under Farley’s leadership, including an 8.5% increase on Wednesday

Biden Budget explained – Where will the $5T go over the next 10 years?

• President Joe Biden will propose $5 trillion in new federal spending over the next decade on Friday as part of his fiscal year 2022 budget request
• The new spending would fund Biden’s sweeping domestic agenda: Expanding the social safety net for working families and modernizing America’s infrastructure
• It would be paid for in part by $3.6 trillion in additional revenues over the same period and would result in a net deficit of $1.4 trillion
• Biden’s budget also projects that inflation will reach no more than 2.3% annually over the next 10 years

The post Business News – 5-27-2021 appeared first on Easy Ad - Local Small Business Resources.

• Macy’s reported a surprise fiscal first-quarter profit, as shoppers returned to stores to refresh their wardrobes
• The retailer raised its full-year outlook, citing the momentum it’s seeing in its shops and online for the heightened optimism
• CEO Jeff Gennette said the retailer is seeing strength in items for the home, fine jewelry and watches, fragrance and luxury

• Walmart’s first-quarter earnings beat Wall Street’s expectations, as its sales got a lift from strong grocery and e-commerce sales
• The big-box retailer raised its guidance for the fiscal year
• The company said more shoppers have headed to its stores and website to get ready to socialize again as Covid cases decline and vaccination rates rise

Home Depot crushes estimates, its sales jump 32.7% as customers rang up bigger purchases

• Home Depot handily beat Wall Street’s estimates for its fiscal first-quarter earnings and revenue
• The retailer has gotten a boost to sales over the last year during the coronavirus pandemic
• Home Depot didn’t release an outlook for fiscal 2021

• Italian supercar maker Lamborghini has announced that it will launch a fully-electric car in the second half of the decade
• Lamborghini laid out “a roadmap to the decarbonization of future Lamborghini models and of the Sant’Agata Bolognese site,” its factory headquarters
• The next 10 years sees the company transition to hybrid models before it launches a fully-electric car

• President Joe Biden is scheduled to tour Ford’s new Rouge Electric Vehicle Center in Dearborn, Michigan, where the electric F-150 Lightning pickup will be produced
• Biden is expected to tout his American EV agenda and $2 trillion infrastructure package that includes $174 billion to spur the development and adoption of electric vehicles
• The F-150 Lightning could be the poster child for such plans

• With more than 1.9 billion drinks served every day, Coca-Cola is one of the world’s largest beverage companies
• With U.S. soda consumption on the decline, the soft drink maker has been forced to pivot
• Coke recently launched Topo Chico Hard Seltzer, marking its first move into alcoholic beverages on its home turf after a four-decade long hiatus
• The company has also recently invested in the sports performance drink category with BodyArmor and it purchased U.K. coffee maker Costa in 2019

The post Business News – 5-18-2021 appeared first on Easy Ad - Local Small Business Resources.