As part of the plan, Amazon has agreed to purchase 100,000 electric delivery vans from vehicle manufacturer Rivian.Technologyread more
At least in terms of monetary policy, Pence says should be taking after other regions who keep their benchmark interest rates near zero.Delivering Alpharead more
The plan will allow Medicare to negotiate lower prices on as many as 250 drugs and apply those discounts to private health plans.Health and Scienceread more
Hedge fund titan Leon Cooperman said he's concerned about a shift to the left in the political landscape, which could harm the economy and the stock market.Delivering Alpharead more
The move could bring a welcome salve to farmers caught in the crosshairs of the trade war if it results in a reopening of the market.Politicsread more
Apple's big iOS 13 update for iPhones is out now and includes lots of new features. Here's how to install it on your phone and what devices are supported.Technologyread more
The pilot program will deliver food and beverage, over-the-counter medications and other items within minutes, the company said. Prescription deliveries will not be available.Health and Scienceread more
Check out the companies making headlines in midday trading:Market Insiderread more
The FDA's Office of Criminal Investigations opened a probe "shortly after" people started falling ill, Mitch Zeller, director of the FDA's Center for Tobacco Products, told...Health and Scienceread more
Investor Jim Chanos is betting against GrubHub, and said the food delivery company makes almost nothing per order.Delivering Alpharead more
Billionaire investor Leon Cooperman on Thursday said he believes that the Federal Reserve is "screwing the savers."Delivering Alpharead more
British Steel has entered the insolvency process, jeopardizing 5,000 U.K. jobs and endangering a further 20,000 in the supply chain.
EY has reportedly been appointed as special manager by the British government's Official Receiver, after a breakdown in rescue talks between the government and the company's owner, Greybull Capital.
"The company in liquidation is continuing to trade and supply its customers while I consider options for the business. Staff have been paid and will continue to be employed," an official spokesperson said in a statement Wednesday.
Greybull, which specializes in trying to turn around distressed businesses, paid former British Steel owners Tata Steel a nominal £1 in 2016 for the U.K.'s second largest steel producer.
British Steel had requested a £75 million government loan but has since cut the figure to £30 million after Greybull agreed to inject more money, according to Reuters.
The company's troubles have been linked to declining orders from European customers due to uncertainty over the U.K.'s departure from the European Union, along with the weakness of sterling and the escalating U.S.-China trade war. Cheap Chinese steel has long weighed on demand for the company's product.
About 3,000 of the firm's employees are based in Scunthorpe, northern England, with its flagship plan supplying 95% of rails to Network Rail, which manages most of Britain's railway network.
Greg Clark, Secretary of State for Business, said this will be a "deeply worrying time for the thousands of dedicated British Steel workers, those in the supply chain and local communities."
"In the days and weeks ahead, I will be working with the Official Receiver and a British Steel support group of management, trade unions, companies in the supply chain and local communities, to pursue remorselessly every possible step to secure the future of the valuable operations in sites at Scunthorpe, Skinningrove and on Teesside," he added.
Tim Roache, general secretary of steelworkers' union GMB, said the news was "devastating" for the thousands of workers in Scunthorpe and beyond and criticized the government's handling of the crisis.
"Ministers should have been ready to make use of all the options – including nationalisation – in order to save British Steel but they either don't care or wouldn't take off their ideological blinkers to save hard working people and communities," said Roache.
He demanded urgent reassurances on what the future holds for British steelworkers and their families.