Stocks wavered between gains and losses Thursday after Texas said it was pausing its reopening process due to a renewed surge in Covid-19 infections in the state. Investors also monitored incoming economic data, with a new report showing stubbornly high levels of new unemployment claims....
(Bloomberg) -- Tesla Inc. is planning to expand a battery-research facility in the San Francisco Bay Area, adding manufacturing capabilities that would run 24 hours a day.The electric-car maker laid out its plans in documents filed with the city of Fremont, California, where the facility is located. It’s near Tesla’s auto factory and would employ 470 workers.The plans were filed earlier this year but surfaced weeks after Chief Executive Officer Elon Musk, in a contentious battle with Alameda County over coronavirus-prompted stay-at-home orders, threatened to yank the company’s headquarters from the Golden State.Read More: Lockdown Strains Relations Between California and Elon MuskEven as Tesla opened new factories in Nevada and China and is now negotiating for one in Texas, it has steadily expanded its Fremont auto plant and snapped up satellite facilities nearby.Tesla, based in Palo Alto, didn’t immediately respond to an email seeking comment. News of the company’s plans for...
(Bloomberg) -- Rite Aid Corp. is asking some of its creditors for a few more years of patience while it tries to turn around the struggling drugstore chain.Bondholders are being asked to swap $750 million of Rite Aid’s unsecured 2023 notes for securities that wouldn’t be paid back for three more years, according to a statement. They’d also have to accept a haircut on their holdings. In return, the new notes would be secured by Rite Aid’s assets and pay a higher interest rate.The debt swap was disclosed as part of a first-quarter earnings release that included a net loss from continuing operations of $72.7 million. Rite Aid withdrew its forecasts, citing effects of the coronavirus pandemic on its business.“Rite Aid’s fiscal 2021 is shaping up to be another challenging year, as it must face lingering structural challenges and pandemic-related shortfalls,” Bloomberg Intelligence analysts Jonathan Palmer and Fallon Stephan wrote in...
Martin Currie Emerging Markets Fund Portfolio Manager Andrew Mathewson joins Yahoo Finance’s On The Move panel to break down when investors should buy into emerging markets. ...
