Yahoo News

(Bloomberg) — Elon Musk was acting as a proper chief executive officer as Tesla Inc. weighed the purchase of power provider SolarCity in 2016, his longtime ally and fellow Tesla director Antonio Gracias told a judge. A two-week trial over the billionaire CEO’s role in the $2 billion transaction wrapped up on Monday, and now Judge Joseph Slights III must decide whether Musk — who was the solar company’s chairman and largest shareholder at the time — properly removed himself from the… Source link

Bitcoin’s (BTC-US) bulls and bears have been more active than ever this year as the cryptocurrency hovers around $46,000. Notable heavy hitters have publicly talked up — or down — the coin as it soared to new highs earlier this year.  Tesla (TSLA) and SpaceX founder Elon Musk is arguably the most notable crypto bull, and his tweets can move the coin’s price. Bitcoin spiked earlier this year when Tesla initially announced it had bought bitcoin and would soon be accepting it as… Source link

Oatly CEO Toni Petersson said there is light at the end of the tunnel with respect to the oat milk shortage that has existed during the pandemic due to significantly more at-home consumption of packaged foods.  “No,” Petersson responded when asked by Yahoo Finance if the shortage would continue into 2022. “It’s going to improve. It has improved since March. It’s going to continue to increase [product availability] every single month here.” To help improve demand, Oatly said it will increase… Source link

Editor’s note: The author was born and raised in Fresno, California. LAS VEGAS — Most now know about Jalen Green, the young prodigy the Houston Rockets selected with the No. 2 pick in the 2021 NBA draft. But very few know about where the 19-year-old guard is from. Green grew up in Fresno, California, located in the Central Valley with a population of approximately 1 million in Fresno County. When people think of the Golden State, Los Angeles typically comes to mind. After that, the Bay Area… Source link

Paysafe Ltd (NYSE: PSFE) shares are falling lower Monday, after the company announced its third-quarter guidance and missed expectations. For the third quarter, the company said it expected revenue of between $360 million and $375 million. Analysts were calling for revenue of $384.4 million. Paysafe was down 12.49% at $8.93 at last check Monday.Paysafe Daily Chart Analysis The stock dipped lower in what technical traders call a falling wedge pattern. The stock trades below both the 50-day… Source link

Class Technologies creates learning tools directly for Zoom (ZM) and is ramping up its business after a $105 million investment from SoftBank.  CEO Michael Chasen tells Yahoo Finance that Zoom is a great platform, but that it didn’t necessarily have the virtual tools teachers and younger students needed for learning at home. “So, whereas in higher ed, online learning is a little bit more established than in K-12. This really, I think, gave them the push. They needed to start exploring online… Source link

(Bloomberg) — Michael Burry, the investor made famous by “The Big Short” movie, has taken aim at one of Wall Street’s hottest stars. Burry’s Scion Asset Management owned bearish put contracts against 235,500 shares of the ARK Innovation ETF (ticker ARKK) at the end of the second quarter, according to a regulatory filing Monday. The new position was valued at almost $31 million, the filing says. The flagship exchange-traded fund of Cathie Wood and her firm Ark Investment Management… Source link

Norwegian Cruise Lines (NCLH) resumed operations for the first time in 18 months Sunday, with a 100% vaccination mandate for all guests and staff. CEO Frank Del Rio told Yahoo Finance he is hoping other companies follow suit, and says it’s a failure of leadership in the country to not have a similar vaccine mandate nationwide. “Our leadership has failed us,” Del Rio said. “Can you imagine if 700,000 people died of anything other than covid, the outrage that there would be, what government would… Source link

(Reuters) – Grocery chain Aldi said on Monday it is hiring more than 20,000 new workers and raising its wages in the United States as it gets ready for the busy holiday season at a time when retailers and restaurants are scrambling to find workers. The U.S. arm of the German discount supermarket group said it has increased its average national starting wages for store and warehouse workers to $15 and $19 per hour, respectively. Aldi will host a hiring week in September to fill an array of… Source link

Members of the high net-worth membership network TIGER21 hold the majority of their wealth in assets other than public equities, data from the organization suggests. About 25% of TIGER21 member assets are in publicly-traded equities. The plurality of assets (27%) are held in real estate, whereas private equities and cash/cash equivalents make up 22% and 14% of the asset pool, respectively. “Our members are invested in technology stocks because of their scalability and increasingly in ETFs so… Source link