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Tesla stock losses rise after market capitalization falls to $ 50 billion on battery day after Musk flags delayed cheaper cars

Susan Walsh / Associated Press Tesla lost about $ 50 billion in value after founder Elon Musk said it would take Tuesday’s “Battery Day” announcements to reach high-volume production by 2022 Tesla closed 6% lower on Tuesday and 7% lower in off-hours trading. Musk said he is looking at a cheaper vehicle with a target price of $ 25,000 and …

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Johnson & Johnson begins the Covid-19 trial in the final phase

Johnson & Johnson has begun its phase three trial to test its possible coronavirus vaccine, the pharmaceutical company announced Wednesday. J&J is the fourth drug maker backed by Trump administration’s Covid-19 vaccine program, Operation Warp Speed, to enter testing in the final stages. The other companies are Moderna, Pfizer and AstraZeneca. According to the National Institute of Allergy and Infectious …

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The wholesale mortgage will be made public by merger with Gores SPAC

The U.S.’s leading wholesale mortgage maker is merging with a special-purpose acquisition company in a deal that will take the lender to a northern valuation of $ 16 billion, the record for a type of deal that s ‘has become fashionable on Wall Street. . United Wholesale Mortgage plans to merge with Gores Holdings IV Inc., a SPAC that raised …

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European stocks are rising, with rivals and Nike carmakers advancing

People wearing masks line up in front of a medical lab to take the Covid-19 test in Paris on September 18, 2020. olivier morin / Agence França-Presse / Getty Images European stocks rose on Wednesday, while investors removed a mixed batch of data from purchasing managers and stocks of sportswear manufacturers and carmakers rose. The Stoxx Europe 600 SXXP Index, …

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Amazon says it has nothing to do with the Echelon ‘Prime Bike’

Amazon has moved to put a clear distance between it and Echelon Fitness, a company that produces connected exercise equipment. Yesterday, the company announced that it would manufacture the “Prime Bike,” a stripped-down version of its Peloton Sport Sport swivel bike. But overnight, Amazon released a statement saying Echelon and Prime Bike have nothing to do with them. “This bike …

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Mars drops Uncle Ben and reveals a new name for the rice brand

The top Fox Business Flash headlines are here. See what you click on FoxBusiness.com. Uncle Ben’s rice brand gets a new name: Ben’s Original. The parent company Mars Inc. presented the change on Wednesday for the 70-year-old brand, the last company to drop a logo criticized as a racial stereotype. The packaging with the new name will hit stores next …

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Stock futures trading increases in capital gains

UBS CEO Jason Katz on what weighs on investors ’minds. U.S. equities are pointing to a higher opening when the Wall Street session begins on Wednesday. Dow futures suggest a 0.5 percent increase. CLICK HERE TO DO Fox BUSINESS ON THE GO On Tuesday, the S&P 500 gained 1.1%, ending a four-day streak of losses amid a lot of concerns …

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Uncle Ben’s has a new name: Ben’s Original

Renewed Ben products, which feature the same blue lettering and orange packaging, will hit the shelves in 2021. Uncle Ben’s transition to Ben’s original occurs amid a broader movement on racial equality and a strong critique of brands with origins rooted in racial stereotypes. In June, food companies that have Uncle Ben, Aunt Jemima, Wheat Cream, and Mrs. Butterworth say …

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Shopify’s “rogue” employees stole some customer data

We’ve seen all sorts of data breaches by outside hackers and occasionally, as happened with Twitter, the breaches that occurred as outsiders captured employees ’credentials to access them, but for Shopify, the threat came from within. The company’s software allows for online shopping for other companies and, in a blog post, revealed that two employees were trapped “in a plan …

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