Virgin Orbit crew poses at the opening bell ceremony as a 70 foot model rocket with satellites is placed in front of the NASDAQ in Times Square of New York City, United States on January 7, 2022. Tayfun Coskun | Anadolu Agency | Getty Images Not too long ago, Virgin Orbit was in rarified air...
Virgin Orbit is ceasing operations “for the foreseeable future” after failing to secure a funding lifeline, CEO Dan Hart told employees during an all-hands meeting Thursday afternoon. The company will layoff nearly all of its workforce. “Unfortunately we’ve not been able to secure the funding to provide a clear path for this company,” Hart said,...
An Electronic Arts (EA) video game logo is seen at the Electronic Entertainment Expo Lucy Nicholson | Reuters Electronic Arts is cutting 6% of its workforce, equal to about 800 jobs, and reducing office space, the video game company said Wednesday. “As we drive greater focus across our portfolio, we are moving away from projects...
Lucid Motors CEO Peter Rawlinson poses at the Nasdaq MarketSite as Lucid Motors (Nasdaq: LCID) begins trading on the Nasdaq stock exchange after completing its business combination with Churchill Capital Corp IV in New York City, New York, July 26, 2021. Andrew Kelly | Reuters Struggling EV maker Lucid said in a regulatory filing on...
Confetti falls as Lyft CEO Logan Green (C) and President John Zimmer (LEFT C) ring the Nasdaq opening bell celebrating the company’s initial public offering (IPO) on March 29, 2019 in Los Angeles, California. The ride hailing app company’s shares were initially priced at $72. Mario Tama / Getty Images Lyft‘s cofounders, CEO Logan Green...
Ukrainian President Volodymyr Zelenskyy stands while listening to the Ukrainian national anthem on his arrival at the European Parliament on February 09, 2023 in Brussels, Belgium. Omar Havana | Getty Images NATO condemned Russia’s “dangerous and irresponsible” nuclear rhetoric Sunday after President Vladimir Putin shared plans to station tactical nuclear weapons in Belarus. Putin announced...
First Republic Bank headquarters is seen on March 16, 2023 in San Francisco, California, United States. Tayfun Coskun | Anadolu Agency | Getty Images The surge of deposits moving from smaller banks to big institutions including JPMorgan Chase and Wells Fargo amid fears over the stability of regional lenders has slowed to a trickle in...
A First Citizens Bank branch in Dunwoody, Georgia, on Thursday, March 23, 2023. Elijah Nouvelage | Bloomberg | Getty Images Regulators again assured the public that the banking system is safe, which came as fresh data showed customers recently pulled nearly $100 billion in deposits. Treasury Secretary Janet Yellen, Federal Reserve Chairman Jerome Powell and...
U.S. Treasury Secretary Janet Yellen testifies before a Senate Finance Committee hearing on Capitol Hill in Washington, March 16, 2023. Mary F. Calvert | Reuters WASHINGTON — Treasury Secretary Janet Yellen said Thursday that the federal emergency actions to back up Silicon Valley Bank and Signature Bank customers could be deployed again in the future...
Federal Reserve Board Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, DC, on March 22, 2023. Olivier Douliery | AFP | Getty Images Federal Reserve Chair Jerome Powell said Wednesday that the U.S. banking sector is strong but that the recent failure of some regional banks could cause ripple...