Business

Allegiant Air buys 50 new Boeing 737 MAX jets in strategy shift

U.S. low-cost carrier Allegiant Air confirmed plans on Wednesday to buy 50 new Boeing (BA.N) 737 MAX jets worth $5.5 billion at list prices in a switch of supplier and strategy as it gears up for a post-pandemic rebound in tourism. Allegiant “has experienced one of the strongest recoveries of U.S. airlines,” Jefferies analyst Sheila […]

Business

Cryptocurrencies see outflows in final week of 2021

The final week of 2021 saw a third straight week of investment outflows from cryptocurrency funds, even as it capped a year of strong inflows into digital asset investment products, data from digital currency manager CoinShares showed. Outflows from the sector totaled $32 million last week, taking the tally for the last three weeks to […]

Business

GM to chase Ford, Rivian with a $105,000 electric Silverado pickup

General Motors Co’s (GM.N) $35 billion electric-vehicle strategy will face its biggest test in 2023 when it launches an electric version of its Chevrolet Silverado pickup with a six-figure price tag, more than a year after rivals Ford Motor Co (F.N) and Rivian Automotive (RIVN.O) launched their own electric pickups. GM Chief Executive Mary Barra […]

Business

Do 5G telecoms pose a threat to airline safety?

U.S. telecom companies and airlines have been fighting for weeks over the potential impact of 5G wireless services on aircraft, in stark contrast to the rollout of new-generation services elsewhere, which has broadly gone ahead without airing new safety concerns. Here is some background on the dispute, in which Verizon Communications (VZ.N) and AT&T (T.N) […]

Business

Volvo to debut self-driving feature in California using Luminar sensor

Volvo Cars (VOLCARb.ST) and self-driving sensor maker Luminar Technologies Inc (LAZR.O) said on Wednesday a hands-free driving system called “Ride Pilot” will be first released in California, though the companies did not give a specific date. Volvo is planning to deploy the technology, which will allow the car to fully take over driving tasks in […]

Business

Oil rallies even as OPEC+ boosts output, U.S. fuel demand dips

Brent crude futures ended up 80 cents, or 1%, to $80.80 a barrel. U.S. West Texas Intermediate (WTI) crude futures closed up 86 cents, or 1.1%, to $77.85. The market pared gains late in the day after the release of minutes from the latest U.S. Federal Reserve meeting that showed policymakers may have to raise […]

Business

Nike sues Lululemon over Mirror Home Gym

Nike Inc on Wednesday filed a lawsuit accusing Lululemon Athletica Inc (LULU.O) of patent infringement for making and selling the Mirror Home Gym and related mobile apps without authorization. In a complaint filed in U.S. District Court in Manhattan, Nike accused its smaller rival of infringing six patents, including through technology that enables users to […]