Wednesday, 1 September 2021

Reuters Business: Tech stocks send Nasdaq to fresh record close, boost S&P

Tech stocks send Nasdaq to fresh record close, boost S&P

The Nasdaq closed Wednesday at a record high, and the S&P 500 rose but just missed a fresh peak, as September kicked off with renewed buying of technology stocks and private payrolls data, which supported the case for dovish monetary policy.

U.S. judge says he will approve Purdue Pharma bankruptcy plan that shields Sacklers

A U.S. judge said he will approve OxyContin maker Purdue Pharma LP's bankruptcy reorganization plan, clearing a path to resolve thousands of opioid lawsuits and shielding the company's wealthy Sackler family owners from future opioid litigation.

Nasdaq ends at fresh high, powered by tech stocks

The Nasdaq closed Wednesday at a record high, with the S&P 500 ending near its previous peak, as September kicked off with renewed buying of technology stocks and private payrolls data, which supported the case for dovish monetary policy.

Mercedes-Benz teams up with SSAB to explore fossil fuel-free steel for cars

Swedish steelmaker SSAB said on Wednesday it had partnered with Daimler's Mercedes-Benz to introduce fossil fuel-free steel into vehicle production, with prototype parts for body shells planned for next year.

Biden infrastructure plan takes on EV charging's inequality problem

The Biden administration has an ambitious $7.5 billion plan to expand electric vehicle charging to underserved areas, but it must first overcome a host of obstacles that have discouraged private investment in more equitable charging networks.

Amazon's new union battle: Teamsters go local to snarl expansion

In June, the International Brotherhood of Teamsters, one of the nation's largest and most influential unions, vowed to make organizing the Amazon.com Inc workforce a top priority.

Tesla's Roadster shipment to be delayed to 2023, says Musk

Tesla Inc top boss Elon Musk on Wednesday signaled a one-year delay in the shipment of Roadster sports car to 2023, citing global supply chain bottlenecks.

Ford again trims truck production due to chip shortage

Ford Motor Co said Wednesday it will again trim U.S. truck production due to the ongoing semiconductor chip crisis that has hit auto industry wide production.

VW reaches $42 million settlement with U.S. owners over Takata air bags

Volkswagen's (VOWG_p.DE) U.S. unit has agreed to a $42 million settlement covering 1.35 million vehicles that were equipped with potentially dangerous Takata air bag inflators, according to documents filed in U.S. District Court in Miami.

Wells Fargo's long road to repair extends with prospect of more penalties

It has been nearly five years since Wells Fargo & Co began addressing widespread customer abuses that led to regulatory penalties, lawsuits, reputational damage, business overhauls and management changes, but the fourth-largest U.S. bank apparently still has a lot of work to do, analysts say.

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