FT’s McCrum wins Ludwig Erhard Prize for Wirecard

Financial Times reporter Dan McCrum has been awarded the 2020 Ludwig Erhard Prize for his reporting on German payments company Wirecard. The FT’s investigative reporting on Wirecard exposed one of Europe’s largest corporate frauds and sent ripples through Germany’s financial regulatory system. Founded by former German Chancellor Ludwig Erhard, the Ludwig Erhard Prize recognizes excellence in business journalism. […]

Tesla eyes $5 billion from new stock sales

Tesla plans to sell up to $5 billion worth of its new, split stock in several offerings. Dave Sebastian reported the news for the Wall Street Journal: Tesla Inc. TSLA -4.67% said it planned to raise up to $5 billion through stock offerings from time to time as the electric-vehicle maker, which has enjoyed a […]

United drops ticket change fees

United Airlines has dropped fees on ticket changes to encourage more bookings. Tracy Rucinski reported the news for Reuters: United Airlines (UAL.O) said on Sunday it is permanently eliminating change fees on tickets for U.S. travel effective immediately, the latest effort by a U.S. airline to try to stimulate bookings hit by the coronavirus pandemic. […]

TikTok CEO resigns

Kevin Meyer, who became chief executive of TikTok has resigned just three months after taking office. Zen Soo reported for the AP: TikTok CEO Kevin Mayer resigned Thursday amid U.S. pressure for its Chinese owner to sell the popular video app, which the White House says is a security risk. In a letter to employees, […]

American Airlines to cut 19,000 more jobs

American Airlines will cut another 19,000 jobs beginning October when government aid expires. Alison Sider reported the news for the Wall Street Journal: American Airlines Group Inc. AAL -2.23% said it would shed 19,000 workers Oct. 1, the first big wave of the tens of thousands of pilots, flight attendants, mechanics and other airline employees […]

Business Insider hires Bitter to cover consumer companies

Alexander Bitter is leaving his post as reporter, food retailers and consumer goods at S&P Global Market Intelligence to join Business Insider covering the world’s largest consumer companies, including PepsiCo, Nestlé, Coca-Cola, Unilever and more. Prior to joining S&P Global, Bitter was a markets intern at The Wall Street Journal, covering financial markets for the […]

TikTok sues U.S. President for ban

TikTok has filed a lawsuit against the Trump administration alleging a ban announced by the President was “heavily politicized”. Brain Fung reported for CNN: TikTok sued the Trump administration Monday in response to what it said is a “heavily politicized” executive order that seeks to ban the short-form video app from the United States. The […]

Uber, Lyft win court reprieve in California law battle

An appeals court ruled to allow Uber and Lyft to continue treating their drivers as independent contractors rather than employees. Cathy Bussewitz and Michael Liedtke reported for the AP: An appeals court has allowed ride-hailing giants Uber and Lyft to continue treating their drivers as independent contractors in California in a decision that will give […]

Apple hits market value of 2 trillion

Apple’s market value reached $2 trillion for a short while yesterday, for the first time ever. CNN’s Paul R. La Monica reported: Among its many accomplishments — the iPhone, the iPad, iTunes, the App store — Apple can now boast of one more: It was briefly worth more than $2 trillion, making it the first […]

FT reporters win NYFWA Impact Award for Wirecard coverage

Dan McCrum, Stefania Palma, Olaf Storbeck and John Reed of the Financial Times are the 2020 winners of the Impact Award for Distinguished Financial Journalism for their reports that exposed a massive fraud at the heart of one of Europe’s top technology companies. The award is given by the New York Financial Writers’ Association. The […]