Luckin Coffee Crashes After Company Admits COO ‘Fabricated Transactions’
Those involved in the scheme allegedly fabricated $310 million in total sales and inflated certain costs and expenses.
How One Restaurateur is Weathering the Coronavirus Shutdown
“With sliver-like margins and not enough resources to sustain a prolonged closure, the future looks grim.”
Uber CEO Asks Trump to Provide Relief to Drivers
The company’s 1.3 million independent workers are facing financial uncertainty due to the reduced demand for rides during the pandemic.
WeWork Investors Will Take ‘Necessary Actions’ If SoftBank Bails on Bailout
SoftBank agreed to the bailout deal in October.
Square Analysts React to FDIC’s Conditional Banking License Approval
The fintech company began its bid for a banking charter over two years ago.
Could Warren Buffett Bailout The Airlines?
At the moment, Buffett and Berkshire Hathaway are losing money quickly on the airlines
House Report Says Wells Fargo Continues to ‘Abuse’ Customers
A new report slams the bank for failing to comply with regulatory orders on multiple customer abuse scandals and blasts regulators for inaction.
Trump Administration Asks Congress for $2.5B to Fight Coronavirus
"The President's request for coronavirus response funding is long overdue and completely inadequate to the scale of this emergency."
Experts React to Apple’s Revenue Warning, Coronavirus Threat
The company has had to temporarily halt production and close retail stores in China due to the coronavirus.
SoftBank-Backed Online Store Brandless Shutting Down
Brandless fails at a direct-to-consumer model after three years of operations and $240 million in funding.
Tilray, Aurora Cannabis Layoffs May Signal Industrywide Problem
Cannabis companies and investors have overextended themselves, driven by the "exuberance" that comes with an emerging market and an attractive story.