Business

Embattled EV startup Lordstown Motors warns it may go out of business

3 days ago   |   By New York Post

Embattled electric truck maker Lordstown Motors has revealed that there's “substantial doubt” about its ability to stay in business through the end of the year. Lordstown, which is backed by General Motors, revealed a going-concern notice Tuesday in a regulatory filing that amended its annual report. Going-concern notices can warn investors of threats to their...
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Lordstown Motors extends decline to 21% as the electric-vehicle maker warns it may go out of business

Lordstown Motors extends decline to 21% as the electric-vehicle maker warns it may go out of business

3 days ago   |   By Business Insider

Summary List Placement Shares of Lordstown Motors fell early Wednesday, deepening losses from the previous session after the electric-vehicle maker said it doesn't have enough cash to start producing its Endurance truck and warned that it may have to shut down altogether.
Lordstown outlined its warnings in a regulatory filing shortly before trading closed on Tuesday.
"The Company believes that our current level of cash and cash equivalents are not sufficient to fund commercial scale production and the launch of sale of such vehicles," it said in an amendment with the Securities and...
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French President Emmanuel Macron says 'America is back' after Biden's first...

French President Emmanuel Macron says 'America is back' after Biden's first few months in office

Summary List Placement French President Emmanuel Macron on Saturday signaled his confidence in the United States as an ally with President Joe Biden at the nation's head. When... Read more ...

G7 members will spend 'hundreds of billions' on infrastructure to rival...

G7 members will spend 'hundreds of billions' on infrastructure to rival China's Belt and Road initiative, according to a US official. China says G7 proposals are doomed to fail

Summary List Placement President Joe Biden and the G7 member states on Saturday planned to announce a multibillion-dollar initiative to build infrastructure overseas, a direct... Read more ...

Photos show Joe Biden meeting Queen Elizabeth for the first time as president

Photos show Joe Biden meeting Queen Elizabeth for the first time as president

Summary List Placement President Joe Biden and Queen Elizabeth II met in England on Friday at an event for world leaders attending the Group of Seven summit in Cornwall this... Read more ...

Apple says it didn't share pictures or emails from lawmakers' phones with...

Apple says it didn't share pictures or emails from lawmakers' phones with Trump DOJ under subpoenas seeking to unmask leakers

Summary List Placement Apple on Friday revealed additional detail about subpoenas it received from the Trump administration's Department of Justice seeking data about members... Read more ...

Biden To Return Diverted Border Wall Money, Spend Down Rest

Biden To Return Diverted Border Wall Money, Spend Down Rest

The president plans to return more than $2 billion that the Trump administration diverted from the Pentagon to pay for a wall on the U.S.-Mexico border. Read more ...

Famed 'Doge' meme NFT sells for record-breaking $4 million at auction

Famed 'Doge' meme NFT sells for record-breaking $4 million at auction

Summary List Placement The iconic "Doge" meme smashed the record for the most expensive meme nonfungible token , selling at auction on Friday for more than $4 million. The sale... Read more ...

U.S. Farmers Of Color Were About To Get Loan Forgiveness. Now The Program Is...

U.S. Farmers Of Color Were About To Get Loan Forgiveness. Now The Program Is On Hold

A new federal program created by the Biden administration to reverse years of economic discrimination against U.S. farmers of color has ground to a halt. (Image credit: Michael... Read more ...

AMC rises as S&P upgrades the Reddit favorite, citing a path to...

AMC rises as S&P upgrades the Reddit favorite, citing a path to sustainability for the theater operator

Summary List Placement AMC shares climbed Friday, bolstered by an upgrade of its credit rating at S&P Global Ratings which said fundraising by the company should help put the... Read more ...

The GOP lawmaker who let far-right protesters into the Oregon State Capitol...

The GOP lawmaker who let far-right protesters into the Oregon State Capitol has been expelled after he was caught on video plotting the incursion

Summary List Placement The Oregon state representative who let far-right protesters into the State Capitol was removed from office after being caught on video plotting the... Read more ...

Longtime Trump aide Jason Miller leaving role to lead tech company that...

Longtime Trump aide Jason Miller leaving role to lead tech company that could become a new Trump platform

Summary List Placement Jason Miller, a longtime senior advisor to former President Donald Trump, is leaving his role as chief spokesperson to lead a tech start-up company... Read more ...