By Wolf Richter for WOLF STREET. EV maker Fisker, which had gone public via merger with a SPAC in October 2020 amid fake promises and ludicrous projections, and then burned over $1 billion of investor cash, has finally […]
Daily Standup Top Stories Joe Biden Plans to Use Oil Reserves to Artificially Lower Gas Prices Before the November Election June 18, 2024 Mariel Alumit Joe Biden plans to deplete the U.S. oil reserves to artificially […]
Electric vehicle manufacturer Fisker Group Inc said on Tuesday it had filed for Chapter 11 protection in the District of Delaware, one year after launching its first model, as market and macroeconomic headwinds led to a lot […]
Daily Standup Top Stories Senator Ted Cruz Introduces Bill to Repeal Biden’s Natural Gas Tax June 5, 2024 Mariel Alumit U.S. Senator Ted Cruz introduced legislation to repeal the natural gas tax included in the Biden […]
Unrealized losses in the US banking system are once again on the rise, according to new numbers from the Federal Deposit Insurance Corporation (FDIC). In its Quarterly Banking Profile report, the FDIC says banks are now saddled […]
Everything got more expensive over the years, the population grew, so debts rose, but income rose too. By Wolf Richter for WOLF STREET. Total household debt outstanding ticked up by $184 billion, or by 1.1%, in Q1 from […]
Hundreds of small and regional banks across the U.S. are feeling stressed. “You could see some banks either fail or at least, you know, dip below their minimum capital requirements,” Christopher Wolfe, managing director and […]
Weekly Daily Standup Top Stories Mounting Losses Mean Sweden’s Wind Industry Faces Total Financial Collapse March 29, 2024 Stu Turley Notwithstanding €billions in subsidies, Sweden’s embattled wind industry is on the brink of total financial collapse. […]
A British shipyard is closing. A&P Tees is a five-acre site in northeast England primarily focused on ship repair with two drydocks and 240 m of jetty frontage. A&P has two other yards in England. […]
California-based electric vehicle startup Fisker slashed the prices of some of its vehicles as it fights to avoid bankruptcy after a potential deal with another automaker fell through. The manufacturer’s suggested retail price for the 2023 Ocean […]
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