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News for nerds

TikTok to become standalone U.S. company – Financial times

ByteDance will place short-video app TikTok’s global business in a new U.S.-headquartered company with Oracle Corp ORCL.N investing as a minority shareholder, the Financial times reported on Tuesday, citing people

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Short-seller Hindenburg says no clear answers in Nikola rebuttal

Shares in Nikola Corp closed 8.4% lower on Tuesday after the short-selling research house, which has alleged the electric truckmaker misled investors over its technology, said the company had failed

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737 MAX crash victims seek U.S. legislation to block Boeing legal strategy

Families of Boeing 737 MAX crash victims are urging U.S. lawmakers to ensure the planemaker is held accountable for accidents that together killed 346 people by blocking a key legal

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U.S. median income hit record in 2019, Census data shows

U.S. median household income hit a record high in 2019 and the poverty rate fell, according to a government survey released on Tuesday that offered a snapshot of the economy

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GM explores market for electric ‘flying cars’

General Motors Co GM.N is exploring options in the aerial taxi market, including whether to build the vehicles known colloquially as “flying cars,” as part of a push by the

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Goldman names Kim Posnett co-head of investment banking services

Goldman Sachs Group Inc GS.N promoted Kim Posnett to co-head of its global investment banking services unit. Posnett, previously co-chief operating officer of the bank’s global technology, media and telecom

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Bank of America sees net interest income stabilizing by year’s end

Bank of America Corp BAC.N Chief Executive Officer Brian Moynihan told investors on Tuesday that the worst pandemic-related revenue declines could soon be in the rear-view mirror. Speaking at the

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