By Reuters Staff
2 Min Read
SAN FRANCISCO (Reuters) - Lordstown Motors Corp said on Wednesday it received a request for information from the U.S. securities regulator regarding accusations by an investor that took a short position in the stock and accused the electric truck startup of misleading consumers and investors.
Last week, Hindenburg Research revealed it had taken a short position in Lordstown Motors, accusing the company of using “fake” orders to raise capital and claiming that its upcoming truck is three to four years away from production.
“We are cooperating with that inquiry,” Lordstown Motors CEO Steve Burns said during an earnings conference call, referring to the U.S. Securities and Exchange Commission’s request for information.
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(Reuters) - U.S. budget carrier Sun Country Airlines Holdings Inc plans to expand its fleet, staff and network this year after Wednesday’s successful stock market debut, Chief Executive Jude Bricker told Reuters.
Sun Country, backed by private-equity firm Apollo Global Management Inc, raised $218.2 million in its initial public offering and shares closed 51.6% higher at $36.38 on their first day on the Nasdaq.
The debut comes as U.S. airlines begin to emerge from a pandemic-driven crisis that has opened doors for carriers like Sun Country catering to domestic leisure travel, which is rebounding quicker than business and international travel, particularly as more people receive COVID-19 vaccines.
By Reuters Staff
2 Min Read
MADRID (Reuters) - Spanish power company Naturgy NTGY.MC said on Friday it had agreed to sell 96% of its Chilean utility Compania General de Electricidad CGE.SN to China s State Grid International Development for 2.57 billion euros ($3.04 billion).
FILE PHOTO: The logo of Spanish energy company Naturgy is seen in the door of its headquarters in Madrid, Spain, October 9, 2018. REUTERS/Sergio Perez
Naturgy, whose shares jumped 5.9% after the announcement, said it expected to book a pre-tax capital gain of about 400 million euros on the sale.
Its earnings have suffered as the COVID-19 pandemic sapped energy demand, weighing on gas prices that were already low because of oversupply. Even after Friday’s bounce, shares were still down around 13% on the year.
AstraZeneca will supply up to half a million extra doses of its experimental antibody-based COVID-19 combination therapy to the United States, in a bright spot for the company after more governments suspended use of its vaccine over safety fears.
Volkswagen's shares surged more than 9% on Tuesday, lifting its market value towards $150 billion as the world's second-largest carmaker gave more details about its ambitious expansion in electric driving.