GM Will not Take Stake in Nikola

Normal Motors Co. will not take an fairness stake in electric-truck maker Nikola Corp. below a stripped-down settlement revealed Monday, a big retrenchment from an earlier pact that fueled investor enthusiasm for each corporations.

Below the revised deal, GM nonetheless intends to supply Nikola with fuel-cell know-how but it surely has nixed plans to take an 11% stake within the Phoenix-based startup in alternate for supplying engineering work and different providers.


Grocery-Retailer Pharmacies Get Able to Administer Covid-19 Vaccines

Neighborhood grocery shops are aiming to turn out to be main suppliers of Covid-19 vaccinations.

Supermarkets are dashing to safe freezers, thermometers and different medical gear for administering photographs. They’re additionally coaching workers and establishing on-line providers for scheduling appointments. With a vaccine approval probably weeks away, it isn’t but recognized how federal and state authorities will distribute photographs to the general public, and grocers say they’re not sure what number of prospects will search immunization when it turns into out there.

Black Friday in a Pandemic Means Fewer Buyers, Offers

The coronavirus pandemic has reshaped the vacation procuring season with fewer folks hitting shops on Black Friday and plenty of retail chains holding the road on reductions as a result of they’re sitting on lean inventories.

Crowds have been smaller this yr than final after chains like Walmart Inc. and Finest Purchase Co. Inc. put their Black Friday promotions on-line and, alongside Inc., inspired folks to purchase earlier within the season. Even Black Friday veterans out procuring stated they’d made far more of their purchases on-line this…

Black Friday Offers Are Extra Tame as Coronavirus Alters Gross sales Methods

Clothes retailers have much less stuff to promote this Black Friday, and that’s translating into greater costs for customers.

Manufacturers from Ralph Lauren to Abercrombie & Fitch scaled again reductions heading into the vacation season, a departure from previous years when provide gluts led to rampant pre-Christmas markdowns.

As U.S. malls and different…

Walt Disney Plans Additional Layoffs as Covid-19 Weighs on Enterprise

Walt Disney Co. is planning to layoff 32,000 staff, primarily at its theme parks, because the coronavirus continues to hit the leisure firm’s companies arduous.

Disney introduced 28,000 job cuts in September and it expects to terminate its staff’ contracts within the first half of fiscal 2021.

The corporate warned that it might take extra…

Exxon Paperwork Reveal Extra Pessimistic Outlook for Oil Costs

Exxon Mobil Corp. has lowered its outlook on oil costs for a lot of the following decade, in keeping with inner firm paperwork reviewed by The Wall Avenue Journal.

As a part of an inner financial-planning course of carried out this fall, Exxon minimize its expectations for future oil costs for every of the following seven years by 11% to 17%, in keeping with the paperwork.


GE Plans Extra Job Cuts in Aviation Division

Normal Electrical Co. warned staff that extra job cuts are coming to the conglomerate’s jet-engine enterprise due to the pandemic’s impression on business air journey even with the promise of a vaccine on the horizon.

In an inside video message delivered every week earlier than the Thanksgiving vacation, GE Aviation’s new boss John Slattery stated enterprise circumstances are troublesome and the unit would wish to shrink over the subsequent 18 months, in response to folks conversant in the matter.