Rental car giant Hertz seeking $1 billion bankruptcy loan

Rental car giant Hertz seeking $1 billion bankruptcy loan

Hertz Global Holdings is in talks for a bankruptcy loan of up to $1 billion to fund its business reorganization after suspending its plan to sell new shares, The Wall Street Journal reported on Thursday, citing people familiar with the matter. The car rental firm halted its plan to sell up to $500 million in … Read more

Tesla plans to open new factory in Texas or Oklahoma

Tesla plans to open new factory in Texas or Oklahoma

Electric vehicle maker Tesla wants to start building a large vehicle assembly plant in the southwestern US as early as the third quarter of this year, the company told Texas officials in documents made public this week. But the company is still pitting Texas and Oklahoma against each other in an effort to secure tax … Read more

McDonald’s won’t be bringing back salads anytime soon

McDonald’s won’t be bringing back salads anytime soon

Don’t get your hopes up about having a parfait at McDonald’s any time soon. The fast food juggernaut has informed franchisees that items which fell victim to streamlined menus during the coronavirus pandemic will remain on the sidelines for now. That means that diners will need to keep waiting if they want to get grilled … Read more

Facebook sues individuals for violating digital privacy

Facebook sues individuals for violating digital privacy

Facebook said on Thursday it filed lawsuits against individuals in Europe and the US for abusing its platforms to offer automated tools for scraping users’ personal data and gathering likes. The social network said the defendant in the US lawsuit operated a data scraping service, called “Massroot8,” which improperly collected data by asking users to … Read more

Michelle Caruso-Cabrera getting major funding from Wall Street giants

Michelle Caruso-Cabrera getting major funding from Wall Street giants

Some of Wall Street’s biggest titans are pumping big bucks into defeating first-term democratic socialist Rep. Alexandria Ocasio-Cortez by bankrolling the campaign of her business-friendly Democratic primary opponent, Michelle Caruso-Cabrera, campaign records reveal. Among Caruso-Cabrera’s donors include Blackstone CEO Steve Schwarzman and Goldman Sach’s CEO David Solomon. Both gave the maximum $2,800 for the Democratic … Read more

Carnival loses $4.4 billion as coronavirus sinks cruise industry

Carnival loses $4.4 billion as coronavirus sinks cruise industry

Carnival reported a record $4.4 billion in quarterly losses on Thursday, as the COVID-19 pandemic crippled the world’s biggest cruise operator and forced it to take major write-downs on the disposal of now redundant ships. The Florida-based company said it had $7.6 billion available at the end of May, but was burning $650 million a … Read more

Google Chrome flaw results in 32 million malware downloads

Google Chrome flaw results in 32 million malware downloads

Users of Google’s market-leading web browser Chrome downloaded spyware more than 30 million times in the form of free add-ons from the official Chrome Web Store, researchers have discovered. The security weakness highlights the company’s latest failure to protect browsers as Chrome is used for more sensitive functions than just surfing the web, including email … Read more

DoorDash valued at $16 billion before IPO

DoorDash valued at $16 billion before IPO

DoorDash said here on Thursday it was looking to raise about $400 million from investors, valuing the food delivery company at about $16 billion ahead of its initial public offering. The company, backed by SoftBank Group, filed here for an IPO in February, setting it up as one of the most high-profile listings of 2020. … Read more

Lloyd’s of London apologizes for role in Atlantic slave trade

Lloyd's of London apologizes for role in Atlantic slave trade

British insurance giant Lloyd’s of London apologized for its role in the Atlantic slave trade amid an international uproar over systemic racism. Lloyd’s said it was sorry for propping up the slave industry in the 18th and 19th centuries, which it called “an appalling and shameful period of English history, as well as our own.” … Read more