Month: July 2020

Amazon begins rolling out bigger UPS and FedEx-style delivery trucks

Amazon.com (AMZN.O) is launching a new fleet of bigger, boxier trucks like those favored by rival package carriers United Parcel Service Inc (UPS.N) and FedEx Corp (FDX.N), as it fights to fix widespread pandemic-fueled delivery delays that sent customers into the arms of competitors like Walmart Inc (WMT.N). The world’s largest online retailer ordered more…
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Elon Musk’s net worth zooms past Warren Buffett’s, Bloomberg reports

Elon Musk’s net worth soared past Warren Buffett on Friday as the chief executive officer of Tesla Inc (TSLA.O) became the seventh richest person in the world, according to the Bloomberg Billionaires Index. Musk’s fortune rose by $6.07 billion on Friday, Bloomberg News said, following a 10.8% jump in the electric carmaker’s stock. Buffett’s net…
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Coronavirus bringing record $1 trillion of new global corporate debt in 2020

Companies around the world will take on as much as $1 trillion of new debt in 2020, as they try to shore up their finances against the coronavirus, a new study of 900 top firms has estimated. The unprecedented increase will see total global corporate debt jump by 12% to around $9.3 trillion, adding to…
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Life after Zoom: corporate travel agents plot safe return to business trips

Corporate travel agents are using the coronavirus-induced lull in bookings to work with companies on how to get their staff out of Zoom videoconferences and safely back in the air. They are launching new tools to provide on-the-ground information about local mask requirements, social distancing regulations and quarantine rules, as well as details of hotel,…
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Tesla slashes Model Y SUV price as pandemic weighs on auto sector

Tesla Inc (TSLA.O) cut the price of its sport utility vehicle Model Y by $3,000, just four months after its launch, as the U.S. electric carmaker seeks to maintain sales momentum in the COVID-19 pandemic. The reduction follows price cuts in May on Tesla’s Model 3, Model X and Model S. The company headed by…
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