Business

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 […]

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 […]

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 […]

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) […]

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 […]

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 […]

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 […]