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Reuters | Equities.com |

Lordstown Motors Corp said on Monday that 2021 production of its Endurance truck will be half of prior expectations and that the electric vehicle startup needs additional capital to execute its plans, sending shares down 9.5% in after-hours trading.

"Capital may limit our ability to make as many vehicles as we would like," Chief Executive Steve Burns said on a conference call.


Kimberly Redmond | Equities.com |

United Airlines announced Monday it is giving passengers a chance to win a year of free flights in exchange for getting vaccinated against COVID-19.

As part of the “Your Shot to Fly” sweepstakes, frequent fliers enrolled in the MileagePlus loyalty program who upload their vaccination records to United’s mobile app or website through June 22 are eligible to win a roundtrip flight for two passengers “to anywhere in the world United flies,” the Chicago-based airline said.


Kimberly Redmond | Equities.com |

A deal to sell one of the country’s largest newspaper chains, Tribune Publishing Company, has been approved by its shareholders.

On Friday, Tribune announced that investors signed off on a roughly $630 million bid from Alden Global Capital, a New York-based hedge fund that already owns nearly one-third of the publishing company.


AP News | Equities.com |

The exercise equipment maker said Monday that the Peloton Output Park will make the Peloton Bike, Bike+ and Peloton Tread starting in 2023. It will have more than 200 acres and more than 1 million square feet of manufacturing, office and amenities space.

Peloton Interactive Inc. said it plans to break ground on the site in Troy Township over the summer. The company anticipates adding more than 2,000 jobs in Ohio over the next few years. Positions will span corporate, manufacturing, assembly and quality assurance functions.


Reuters | Equities.com |

SoftBank-backed office-sharing startup WeWork on Thursday reported a first-quarter net loss of $2.06 billion, as it was hit by restructuring charges while it prepares to go public through a merger with a blank-check firm.

WeWork said its business was recovering as more people returned to offices due to easing of COVID-19 curbs, after work-from-home arrangements last year weighed heavily on the company by reducing occupancy and increasing operating costs.


Kimberly Redmond | Equities.com |

Oatly Group AB, the popular vegan milk maker, raised over $1.4 billion in gross proceeds its initial public offering (IPO), the company announced in a statement.

On Wednesday evening, the Sweden-based company priced its IPO at $17 per American Depositary Share (ADS), at the top of its indicated range, giving it a valuation of $10 billion. Each ADS represents one ordinary share.


AP News | Equities.com |

A Dutch court on Thursday ordered fugitive former Nissan chairman Carlos Ghosn to repay nearly 5 million euros in salary to an Amsterdam-based alliance between Nissan and Mitsubishi, and rejected his claim for millions in compensation for wrongful dismissal.

The ruling came in a case in which Ghosn sought to have his 2018 sacking from Nissan-Mitsubishi B.V. overturned and demanded 15 million euros ($16.5 million) in compensation.


Reuters | Equities.com |

Apollo Global Management Inc said on Thursday co-founder Josh Harris has decided to step down from his day-to-day role as managing director on completion of the private-equity giant's deal with Athene Holding Ltd.

Harris will "return to his roots" as an investor and entrepreneur, Apollo said, adding that he will remain on the company's board and its executive committee.


Reuters | Equities.com |

Chinese gaming and social media giant Tencent Holdings Ltd reported a forecast-beating 65% rise in quarterly profit on Thursday, driven by a surge in users for its video games in China and international markets.

Tencent, the world's largest gaming firm by revenue, booked profit of 47.77 billion yuan ($7.42 billion) for the three months through March, higher than the average analyst estimates published by Refinitiv of 35.45 billion yuan.


Kimberly Redmond | Equities.com |

Restaurant Brand’s International’s (NYSE: QSR) Burger King announced plans to launch its new chicken sandwich in June, making it the latest fast-food chain to enter a market that is more crowded than ever.

On Wednesday, the Miami-based company revealed that its “Ch’King” sandwich – a hand-breaded chicken fillet served on a toasted potato bun, topped with pickles and signature sauce – will hit menus nationwide on June 3.