United Airlines to pay $49.5M to settle mail contract probe

United Airlines to pay $49.5M to settle mail contract probe

United Airlines agreed to pay $49.5 million to resolve criminal charges and civil claims relating to fraud on Postal Service contracts for transportation of international mail, the US Justice Department said Friday. “United defrauded the US Postal Service by providing falsified parcel delivery information over a period of years and accepting millions of dollars of … Read more

Bill Ackman tells investors to follow him on Twitter

Bill Ackman tells investors to follow him on Twitter

Billionaire Bill Ackman appears to be taking a page from Elon Musk with plans to start announcing market-moving news on Twitter. The billionaire investor’s blank check company, Pershing Square Tontine Holdings, issued a press release on Friday highlighting Ackman’s Twitter feed and saying it may be used as a venue for official announcements. “Investors should … Read more

Billionaire LVMH boss Bernard Arnault takes Birkenstock stake

Billionaire LVMH boss Bernard Arnault takes Birkenstock stake

Birkenstock, the maker of comfortable but decidedly unfashionable sandals, is jumping into bed with the king of luxury goods Birkenstock on Friday said it will sell a majority stake in its business to L Catteron, a private equity firm backed by LVMH, owner of high-end fashion brands like Louis Vuitton and Christian Dior. French billionaire … Read more

Nikola admits founder Trevor Milton made ‘inaccurate’ claims

Nikola admits founder Trevor Milton made 'inaccurate' claims

Nikola admitted that founder and former chairman Trevor Milton made several “inaccurate” claims about the electric-truck maker’s business before he resigned under pressure last year. An internal investigation affirmed several findings of the Hindenburg Research report that threw Nikola into chaos last fall after the short-selling firm alleged that the buzzy company had been built … Read more

Some GameStop traders think stock will surge to $800 in one day

Some GameStop traders think stock will surge to $800 in one day

Some GameStop traders think the so-called meme stock will build on this week’s surprise surge — by skyrocketing to $800 in a single day. The most popular GameStop options contract on Thursday was a bet that the shares would climb to that price on Friday, Bloomberg data show. More than 52,000 of those contracts were … Read more

Tesla stock has ‘significant’ link to Reddit posts: analyst

Tesla stock has 'significant' link to Reddit posts: analyst

Tesla might be the biggest meme stock of them all. The electric-car maker’s stock price appears strongly connected to how many people are talking about it on Reddit’s WallStreetBets forum, Barclays analysts say. After scraping data from the foul-mouthed message board behind the recent GameStop frenzy, the bank’s researchers found a “statistically significant” relationship between … Read more