September 2020

Nikola postpones showcase day as it tries to win back investor confidence

Nikola has delayed a long-awaited event to showcase its vehicles and battery technology, as the start-up battles a crisis that led to the departure of its founder Trevor Milton.

The Arizona-based company said on Wednesday that its “Nikola World” event in December, where it was set to demonstrate vehicles including the Badger pick-up truck, has been postponed, without giving a new date.

While Nikola pointed to Arizona’s restrictions on large gatherings in light of the pandemic, the delay comes as the group tries to win back investors’ confidence after a short-seller earlier levelled allegations of fraud against a company that was briefly one of the hottest stocks on Wall Street.

In a long statement on Wednesday, seemingly designed to reset expectations and clarify timelines for a company that only went public in June, Nikola detailed its projects and their progress. It reconfirmed key dates in its product development, including the launch of its first truck to be manufactured by Iveco in Germany late next year. The group said it is also on track to begin production at a facility in Arizona in 2022.

The market value of Nikola has collapsed since a report from short-seller Hindenburg Research on September 10

Jim Cramer sees Boeing stock as a buy ahead of 737 Max ‘validation’

A Boeing 737 MAX jet lands following a Federal Aviation Administration (FAA) test flight at Boeing Field in Seattle, Washington on June 29, 2020.

Jason Redmond | AFP | Getty Images

(This story is for CNBC Pro subscribers only.)

CNBC’s Jim Cramer said Wednesday that he believes investors should add beleaguered aerospace giant Boeing to their portfolios.

“I have not liked it. I think you buy it. You’re really at the tail end of this mess,” Cramer said on “Squawk on the Street.”

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We Already Have One World Authorities

Plunging stock markets , bond yields, and oil prices are creating a perfect storm of adverse situations positive to impose extreme injury on the true economic system. The interdisciplinary minor in Monetary Market Regulation enhances majors comparable to Accounting, Business, Pc Science, Economics, Political Science, Public Policy and Management, and Sociology, introducing college students to market regulation as a part of their program on the University. Whereas the interdisciplinary major and minor concentrate on financial market regulation, additionally they present knowledge applying to diverse areas in the non-public, public, and nonprofit sectors. Students usually are able to mix research in Monetary Market Regulation, similar to by means of a second main, with majors in Accounting, Business, Laptop Science, and other associated fields. Graduates have found such combined programs to be a serious advantage in pursuing work in the business and regulation of economic markets.

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Coronavirus latest: Students in England will be allowed home for Christmas

Andy Bounds in Huddersfield

The leaders of three of northern England’s biggest cities have called for the government to relax coronavirus restrictions it has imposed on them, which they say are wrecking the region’s economy.

The letter from Liverpool, Leeds and Manchester councils increases pressure on the government, whose own MPs are pressing for looser measures.

In a letter to health secretary Matt Hancock and business secretary Alok Sharma, the leaders and chief executives of the cities in northern England say that hotel occupancy is at around 30 per cent normal levels and footfall has dropped by more than two-thirds during local lockdown measures.

Because of higher coronavirus transmission rates, the three northern cities – which are major urban hubs in the government’s northern powerhouse plan – have to follow stricter coronavirus rules than in London.

They all, for example, have had bans on households mixing with each other in private homes or gardens. These rules were implemented by the central government in Westminster.

In Liverpool, one of the UK’s most deprived cities, the leisure and hospitality sector accounts for a fifth of the economy and provides half of the £270m in annual business rates, a property levy that funds

JPMorgan Chase to pay $920 million to resolve US investigations into trading practices

JPMorgan Chase CEO Jamie Dimon speaks at the North America’s Building Trades Unions (NABTU) 2019 legislative conference in Washington, April 9, 2019.

Jeenah Moon | Reuters

JPMorgan Chase is set to pay $920 million to resolve probes from three U.S. government agencies over its role in the alleged manipulation of metal and Treasurys markets.

The figure was released Tuesday by the Commodity Futures Trading Commission in a statement from commissioner Dan Berkovitz. Last week, news reports indicated that the New York-based bank was nearing a settlement of almost $1 billion.

“For eight years, a group of traders at JPMorgan systematically `spoofed’ precious metals and Treasury futures markets by entering hundreds of thousands of orders with the intent to cancel them before execution,” Berkovitz said. “The Commission’s Order finds that JPMorgan manipulated these markets and failed to diligently supervise its traders.”

This story is developing. Please check back for updates.

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What Should Be Finished About The Financial Crisis In Europe And The U.S.?

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Have you ever thought-about what would happen if the federal government didn’t deficit spend? Each time I argue in opposition to Austrian economics, I come up against the same thing: you guys have just a little rule of thumb, like “more dollars = inflation,” and you stop there. You don’t apply your rule to reality to see if it holds true. And most maddeningly of all, you don’t even think about the …