News

Eli Lilly just paused its COVID-19 antibody drug trial over safety concerns

Eli Lilly said Tuesday that it paused trials of its Covid-19 antibody treatment. The company said an independent board raised safety concerns and recommended the pause. President Donald Trump was treated with a similar antibody cocktail made by Regeneron while hospitalized earlier this month. For more stories like this, sign […]
Eli Lilly just paused its COVID-19 antibody drug trial over safety concerns
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The Biden campaign sold 35,000 fly swatters in a matter of hours after a fly’s famous landing on Mike Pence’s head during the vice-presidential debate

The Biden campaign sold 35,000 fly swatters for $US10 each within hours this week. The fly swatters carried the slogan “Truth Over Flies” in reference to a fly that landed on Vice President Mike Pence’s head for two minutes during a nationally televised debate Wednesday evening. Visit Business Insider’s homepage […]
The Biden campaign sold 35,000 fly swatters in a matter of hours after a fly’s famous landing on Mike Pence’s head during the vice-presidential debate
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Trump’s experimental treatment from Regeneron puts the company in a ‘very tough situation’ as others request early access, CEO says

President Donald Trump’s use of Regeneron Pharmaceutical’s experimental monoclonal antibody treatment puts the company in “a very tough situation,” CEO Leonard Schleifer says. The US President was given an 8 gram injection of Regeneron’s drug over the weekend under the FDA’s “compassionate use” option, as Schleifer said it “just wasn’t […]
Trump’s experimental treatment from Regeneron puts the company in a ‘very tough situation’ as others request early access, CEO says
Markets

The world’s largest hedge fund reached a settlement with its former co-CEO after she accused the firm of withholding up to $100 million in deferred pay

Bridgewater Associates, the world’s largest hedge fund, has settled its compensation fight with former co-CEO Eileen Murray. A spokesperson confirmed the deal, but offered no details on the settlement size or terms. Murray originally filed her lawsuit in July, saying the firm balked on up to $US100 million in deferred […]
The world’s largest hedge fund reached a settlement with its former co-CEO after she accused the firm of withholding up to $100 million in deferred pay
News

Pope Francis issues blistering rebuke of capitalism — and says the coronavirus pandemic proves ‘not everything can be resolved by market freedom’

Pope Francis published the third encyclical of his papacy on Saturday. The lengthy letter to Catholic bishops around the world is a fiery criticism of capitalism and modern economic systems. Francis says the same markets that allowed for explosive growth in recent centuries also left wide swaths of disenfranchised people […]
Pope Francis issues blistering rebuke of capitalism — and says the coronavirus pandemic proves ‘not everything can be resolved by market freedom’
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Regal Cinemas confirms plans to close all 500 of its US theatres in a move that will affect 40,000 employees as the pandemic ravages the movie industry

Regal Cinemas on Monday said it was closing 536 US theatre locations because of a lack of new releases. The closings will affect 40,000 Regal employees. Movie theatres remain closed in the US’s two largest cities as coronavirus case numbers continue to increase. Shares of Regal’s parent company, Cineworld, plunged […]
Regal Cinemas confirms plans to close all 500 of its US theatres in a move that will affect 40,000 employees as the pandemic ravages the movie industry
News

Tesla has reportedly abandoned a plan to buy a mining company in Nevada

Deal talks around Tesla acquiring Nevada-based mining company Cypress Development Corp. have fallen through, Bloomberg first reported. As the company shifts its plan, it now has the rights to mine Lithium on its own in the state, according to the report. The automaker has access to 10,000 acres of “lithium-rich […]
Tesla has reportedly abandoned a plan to buy a mining company in Nevada
News

Only 1,000 boxes of Pumpkin Spice mac and cheese are being raffled off by Kraft, which says it’s ‘trolling the classic PSL’ from Starbucks

Kraft is releasing a limited edition Pumpkin Spice Macaroni and Cheese flavour this fall. 1,000 lucky winners will get to try a box, which comes with a coffee cup and a special pumpkin-spice flavour packet. Visit Business Insider’s homepage for more stories. As the leaves turn orange, flannel-wearers everywhere anticipate […]
Only 1,000 boxes of Pumpkin Spice mac and cheese are being raffled off by Kraft, which says it’s ‘trolling the classic PSL’ from Starbucks
News

Nikola was reportedly in talks with oil giant BP over a possible deal before allegations of fraud plunged the startup into chaos

Nikola was in talks with several high-profile energy companies for possible partnerships on hydrogen-fuelling stations,The Wall Street Journal reported Wednesday. However, allegations made by a short-seller earlier in September caused those talks to fizzle, including those with BP, the paper reported. A Nikola spokesperson said the company does not comment […]
Nikola was reportedly in talks with oil giant BP over a possible deal before allegations of fraud plunged the startup into chaos
Markets

What are the FinCEN files? Here’s what to know about the leaked documents tying Wall Street banks to possible money laundering.

BuzzFeed News and dozens of other newsrooms have published a massive trove of documents known as the “FinCEN Files,” named after the US Treasury Department’s Financial Crimes Enforcement Network headquartered in Washington D.C. The data dump contains thousands of “suspicious activity reports,” or SARs, that banks file to FinCEN when […]
What are the FinCEN files? Here’s what to know about the leaked documents tying Wall Street banks to possible money laundering.
News

Volkswagen’s Tesla competitor is finally here: Meet the ID.4, a cheaper alternative to the Model Y designed to sell against America’s most popular cars

Volkswagen unveiled its first fully electric mass-market car for the United States on Tuesday: the ID.4. The $US39,995 compact SUV is priced to compete with the Toyota Rav4, Honda CR-V, and similar four-door hatchbacks. VW Group’s CEO for North America, Scott Keogh, says the company took many nods from Tesla […]
Volkswagen’s Tesla competitor is finally here: Meet the ID.4, a cheaper alternative to the Model Y designed to sell against America’s most popular cars
News

The 3 biggest things Elon Musk announced at Tesla’s big outdoor event

Tesla’s delayed shareholder meeting and “Battery Day” kicked off on Tuesday afternoon outside the company’s Fremont, California, factory. Following a short formal portion of the meeting, CEO Elon Musk gave a review of the company’s progress over the past year with heavy emphasis on software and manufacturing. Musk touted new […]
The 3 biggest things Elon Musk announced at Tesla’s big outdoor event
News

Read the memo mall giant Brookfield Properties sent employees announcing job cuts affecting 20% of its retail workforce: ‘Business has been frustrated, interrupted and constrained’

One of the biggest mall owners in the US is laying off 20% of the workforce in its retail division, according to an internal memo obtained by Business Insider. Brookfield Properties owns major shopping centres including Fashion Show in Las Vegas, Brookfield Place in New York, and Ala Moana Centre, […]
Read the memo mall giant Brookfield Properties sent employees announcing job cuts affecting 20% of its retail workforce: ‘Business has been frustrated, interrupted and constrained’
News

Nikola chairman Trevor Milton’s resignation was a shock to industry experts — but they say his experienced replacement may be better equipped for the road ahead

Nikola’s founder and former CEO on Monday relinquished his role of executive chairman of the company’s board. The move took investors and analysts by surprise, with shares falling as much as 26%. Analysts say the hiccup should only be temporary. They largely remain positive on the company’s outlook – and […]
Nikola chairman Trevor Milton’s resignation was a shock to industry experts — but they say his experienced replacement may be better equipped for the road ahead
News

This video shows a crowd of anti-maskers ‘invading’ a Target in Fort Lauderdale, yelling ‘take your masks off’ and ‘we’re not going to take it anymore’

A group of mask-less protesters marched through a Florida Target on Tuesday night, encouraging other patrons to remove their masks. A viral video shows the group shouting, “Take off your masks!” and “We aren’t going to take it anymore.” Since the outbreak of the COVID-19 pandemic, mask wearing has been […]
This video shows a crowd of anti-maskers ‘invading’ a Target in Fort Lauderdale, yelling ‘take your masks off’ and ‘we’re not going to take it anymore’
News

You won’t be able to buy Halloween or Christmas-themed Peeps marshmallows this year due to the pandemic — the next special batch will be for Easter

Halloween, Christmas, and Valentine’s Day Peeps will not be sold in upcoming months, as the company that makes the marshmallow treat is prepping for Easter after a months-long closure. This also includes seasonal versions of Mike and Ikes, and Hot Tamales. Regular peeps will still be available to purchase. Visit […]
You won’t be able to buy Halloween or Christmas-themed Peeps marshmallows this year due to the pandemic — the next special batch will be for Easter
Markets

Concern about young bankers and lost productivity on Mondays and Fridays is fuelling JPMorgan’s return to the office as other companies embrace remote work permanently

JPMorgan said last week that staff in its sales and trading division would return to the office beginning September 21. In conversation with an analyst, CEO Jamie Dimon said the move was largely fuelled by productivity slips on Mondays and Fridays, as well as a need for more “organic interaction.” […]
Concern about young bankers and lost productivity on Mondays and Fridays is fuelling JPMorgan’s return to the office as other companies embrace remote work permanently
News

Beyond Meat just announced meatless ‘meatballs’ will soon be sold at grocery stores, expanding its plant-based portfolio beyond burgers

Beyond Meat is launching meatless “meatballs” at grocery stores across the US this week. The “meatballs” come pre-shaped and are made from pea protein and brown rice. In recent months, Beyond Meat’s earnings have beat Wall Street expectations, with second-quarter revenues jumping 69% year over year. Visit Business Insider’s homepage […]
Beyond Meat just announced meatless ‘meatballs’ will soon be sold at grocery stores, expanding its plant-based portfolio beyond burgers
Markets

Another woman at the world’s largest hedge fund has reportedly accused the firm of paying her less than male peers with fewer duties

Bridgewater Associates’ director of research has complained she’s paid less than peers, The Wall Street Journal reported Friday. Bridgewater, the world’s largest hedge fund with some $US20 billion in assets under managerment, told the paper it found no pay discrepancies during its last audit. The woman is the second this […]
Another woman at the world’s largest hedge fund has reportedly accused the firm of paying her less than male peers with fewer duties
News

Attention job-seekers: Amazon is hiring 33,000 new employees and holding a virtual job fair, complete with resume reviews and a talk by Karamo Brown from ‘Queer Eye’

Amazon is looking to hire 33,000 new employees in roles ranging from warehouse workers to software engineers. The company is holding a virtual career fair on September 16 aimed at helping job-seekers. Business for the e-commerce giant has been booming since the start of the pandemic, with sales up 40% […]
Attention job-seekers: Amazon is hiring 33,000 new employees and holding a virtual job fair, complete with resume reviews and a talk by Karamo Brown from ‘Queer Eye’
News

A short-seller said Nikola’s electric truck business is an ‘intricate fraud’ and accused its founder of ‘numerous lies’

Hindenburg Research, a short-seller, published a lengthy report accusing the electric truck maker Nikola of fraud. The firm published what it claims are text messages, contracts, and other “extensive evidence” showing years of “deception” by founder Trevor Milton. Nikola has denied all of the claims in Hindernburg Research’s report. General […]
A short-seller said Nikola’s electric truck business is an ‘intricate fraud’ and accused its founder of ‘numerous lies’
News

The biggest police union in the US just endorsed Trump for president

The largest police union in the US endorsed President Trump for President on Friday. The move aligns with Trump’s messaging that he is the “president of law and order.” Biden, who recently questioned how safe people feel under Trump’s current presidency, leads the president in the polls by seven points, […]
The biggest police union in the US just endorsed Trump for president
Tech

Nintendo is re-releasing its classic Game & Watch handheld for the 35th anniversary of Super Mario Bros., complete with 35 easter eggs and references for fans

Nintendo is celebrating Super Mario Bros.’ 35th anniversary this year by re-releasing its classic hand-held console, the Game & Watch. The console was originally launched in 1980, and helped propel hand-held video games gain global popularity. Visit Business Insider’s homepage for more stories. To celebrate the 35th anniversary of Super […]
Nintendo is re-releasing its classic Game & Watch handheld for the 35th anniversary of Super Mario Bros., complete with 35 easter eggs and references for fans
News

Masks and disinfectant for schools will no longer be paid for by FEMA, which says they’re not a ‘direct emergency protective measure’

Summary List Placement On Tuesday, the Federal Emergency Management Agency said it would no longer reimburse states for most personal protective equipment used in schools, courthouses, and other businesses. FEMA said that under new guidelines it would pay only for PPE to prevent a “direct emergency,” including direct medical care, […]
Masks and disinfectant for schools will no longer be paid for by FEMA, which says they’re not a ‘direct emergency protective measure’
News

Tesla moved into the No. 7 spot for most valuable US companies by market cap

Tesla passed Visa on Monday to become the seventh-largest US company in terms of market capitalisation. Tesla shares increased 12.6% on Monday following a stock split, ending the trading session with a valuation of $US464.3 billion. CEO Elon Musk has tripled his personal wealth as Tesla’s stock increases, which led […]
Tesla moved into the No. 7 spot for most valuable US companies by market cap
Tech

Police use footage from Amazon’s Ring doorbells for investigations, but leaked documents reveal the FBI is concerned that homeowners could spy on officers

The FBI is worried that personal home-security cameras, like Amazon’s Ring doorbell camera, could be used to tip off homeowners to police searches, according to a leaked report. Since Ring was bought by Amazon in 2018, the service has become ubiquitous for homeowners looking for an extra layer of security. […]
Police use footage from Amazon’s Ring doorbells for investigations, but leaked documents reveal the FBI is concerned that homeowners could spy on officers
News

Elon Musk now has another lavish Gulfstream private jet in his arsenal

Elon Musk now has another private jet in his arsenal, FAA records show. Falcon Landing, an LLC connected to SpaceX and Tesla, registered a second Gulfstream plane in August. Musk has been putting plenty of miles on the first plane jetting between California and SpaceX’s Texas launch site. Visit Business […]
Elon Musk now has another lavish Gulfstream private jet in his arsenal
Tech

Palantir just officially laid out its plans to go public in a direct listing

Palantir publicly revealed its stock-listing documents for the first time on Tuesday afternoon. The notoriously secret data startup is pursuing a direct listing of its equity, similar to that of Spotify and Slack. Sources previously told Business Insider that shares could begin trading as soon as September 24. Visit Business […]
Palantir just officially laid out its plans to go public in a direct listing