Mullen Shares Pop On Cargo Van Deal With Amazon Delivery Services Partner DelPack

  • MarketWatch

    Mullen Automotive stock soars after Amazon delivery partner orders up to 600 EVs

    Shares of Mullen Automotive Inc. shot up 16.2% in premarket trading Monday, after the electric vehicle maker said and Inc. delivery service partner placed an order for up to 600 cargo vans over the next 18 months. As part of the binding agreement signed by DelPack Logistics LLC, the first 300 of the EV cargo vans can be delivered by Nov. 30. “This agreement is a milestone for Mullen Automotive,” said Mullen Chief Executive David Michery. “DelPack is a leader in last mile package deliv

  • American City Business Journals

    Rocklin files new legal challenge to Loomis Costco

    After a Placer County Superior Court judge ruled partly in Rocklin’s favor in its initial lawsuit opposing a new Costco store in neighboring Loomis, the city has filed a new legal challenge.


    Bed Bath & Beyond Insiders Scooped Up Stock After an Awful Quarter

    Everything but the kitchen sink has seemed to go wrong at Bed Bath & Beyond but the interim CEO and two directors have stepped up and bought shares of the home-furnishings retailer on the open market. Activist investors had agitated for change at Bed Bath & Beyond (ticker: BBBY) three years ago, and Mark Tritton took the CEO post in late 2019. An alum of Target ( TGT ) and Nordstrom (JWN), Tritton told us in March 2021 that the company would transition from a turnaround story into “optimize and thrive mode.”

  • Bloomberg

    Microsoft Cuts Jobs in Structural Adjustment, Plans More Hiring

    (Bloomberg) — Microsoft Corp. cut some jobs on Monday as it realigned business groups and roles after the close of its fiscal year on June 30. It said it plans to keep hiring for other roles and finish the current fiscal year with increased headcount.Most Read from BloombergElon’s OutTrump Lashes Out at Elon Musk and ‘Rotten’ Twitter DealWall Street Sours on Stocks in Anemic Trading Day: Markets WrapBiden Administration to Again Extend the Covid Public-Health Emergency Rivian Plans Hundreds of

  • Reuters

    Singapore’s crypto aspirations shaken by Three Arrows collapse

    Singapore’s ambitious cryptocurrency sector, by some measures Asia-Pacific’s largest, faces an uncertain future after the recent collapse of crypto fund Three Arrows Capital, a high-profile casualty of the global digital currency downturn. Crypto players in Southeast Asia’s financial hub are bracing for further bankruptcies and legal tussles, and expect that regulators at the Monetary Authority of Singapore (MAS), whose welcoming approach helped to attract firms from China, India and elsewhere, may become less accommodating. “After recent events it appears likely that the MAS will get tougher on crypto and digital assets,” said Hoi Tak Leung, a senior technology sector lawyer at Ashurst.

  • Quartz

    Europe’s best defense against Russia’s gas squeeze is looking vulnerable

    Summer months are, of course, the slow season for natural gas demand in Europe, so when Russia shut down Nord Stream 1, the continent’s biggest gas pipeline, for scheduled maintenance today (July 11), it seemed like welcome timing. Europe’s gas outlook got another boost when Canada said it could return a key part for Nord Stream 1 that had been held up due to sanctions on Russia, so when the pipeline is reopened, it should be able to carry more gas than before.

  • Reuters

    Big U.S. banks’ second quarter profits to tumble on higher bad loan reserves

    NEW YORK (Reuters) -Second quarter profits at big U.S. banks are expected to fall sharply from a year earlier on increased loan loss reserves, as the pandemic recovery gives way to a possible recession. Analysts expect JPMorgan Chase & Co will report a 25% drop in profit on Thursday, while Citigroup Inc and Wells Fargo & Co will show 38% and 42% profit declines, respectively on Friday, according to Refinitiv I/B/E/S data. Bank of America Corp, which like its peers has big consumer and business lending franchises, is expected to show a 29% drop in profit when it reports on July 18.

  • Reuters

    No fries till autumn at some of McDonald’s Russian successor restaurants

    Excitement was on the menu when former McDonald’s restaurants reopened in Russia last month under new management and branding, but the successor to the golden-arched throne has a problem: a shortage of French fries. McDonald’s quit Russia after a Western backlash against Moscow’s military campaign in Ukraine, which included a barrage of economic sanctions, and sold all the restaurants it owned to a local licensee in May. The new ownership, however, now faces problems securing supplies of potatoes, blaming a poor harvest in Russia and difficulty in importing potatoes due to supply chain disruptions.

  • Bloomberg

    BlackRock, JPMorgan Face Squeeze on Profits at China Funds

    (Bloomberg) — Global asset managers including BlackRock Inc. and JPMorgan Chase & Co. are facing mounting pressures on profitability in China even as they gain a bigger footing in the nation’s fast-growing mutual fund industry.Most Read from BloombergElon’s OutTrump Lashes Out at Elon Musk and ‘Rotten’ Twitter DealWall Street Sours on Stocks in Anemic Trading Day: Markets WrapBiden Administration to Again Extend the Covid Public-Health Emergency Rivian Plans Hundreds of Job Cuts Following Surge

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