Tesla’s Musk delays release of Roadster sports car, repeats coronavirus lockdown criticism

Tesla’s Musk delays release of Roadster sports car, repeats coronavirus lockdown criticism
(Reuters) – Tesla Inc (TSLA.O) Chief Executive Elon Musk said in a podcast interview released on Thursday that the company’s planned Roadster sports car would take a backseat to the development of other vehicle models. FILE PHOTO: SpaceX owner and Tesla CEO Elon Musk arrives on the red carpet for the automobile awards “Das Goldene Lenkrad” (The golden steering wheel)... Read More

UK retailer Debenhams enters administration again

UK retailer Debenhams enters administration again
FILE PHOTO: A general view as empty bus stops are seen near a Debenhams store in Hemel Hempstead as the spread of coronavirus disease (COVID-19) continues, Britain March 24, 2020. REUTERS/Matthew Childs LONDON (Reuters) – British department store group Debenhams, whose 142 UK stores have been shuttered by the coronavirus emergency, has fallen into administration for the second time in... Read More

As customers hoard pot brownies, North American weed firms see lockdown boost

As customers hoard pot brownies, North American weed firms see lockdown boost
(Reuters) – Cannabis sales are touching new highs as customers across the United States and Canada stockpile weed to prepare for long spells of isolation because of the coronavirus pandemic. FILE PHOTO: Customers are given hand sanitizer before being allowed to enter The Reef Cannabis shop, amid the coronavirus disease (COVID-19) outbreak, in Seattle, Washington, U.S., March 20, 2020. REUTERS/Brian... Read More

Explainer: Coronavirus fears hit the market hard. How much did ordinary Americans lose?

Explainer: Coronavirus fears hit the market hard. How much did ordinary Americans lose?
NEW YORK (Reuters) – The deep declines in the U.S. stock market over the last three weeks has left a dent in retirement portfolios and brokerage accounts, costing on average each person in the United States around $16,000 as of Monday’s close before a rebound Tuesday erased some of those losses. FILE PHOTO: A test tube labelled with the coronavirus... Read More

Canadian pot producer Canopy may face challenges offloading assets, CEO says

Canadian pot producer Canopy may face challenges offloading assets, CEO says
(Reuters) – Canada’s biggest cannabis producer, Canopy Growth Corp (WEED.TO), could face challenges offloading assets as it seeks to winnow its facilities down to focus on its most lucrative markets and products, its chief executive told Reuters. A sign featuring Canopy Growth Corporation’s logo is pictured at their facility in Smiths Falls, Ontario, Canada, January 4, 2018 .Picture taken January... Read More

Pot producer Canopy doing ‘thorough’ review of facilities as it pursues profits

Pot producer Canopy doing ‘thorough’ review of facilities as it pursues profits
(Reuters) – Canada’s biggest cannabis producer, Canopy Growth Corp (WEED.TO), is conducting a “thorough strategic review” of its production facilities to focus on its most lucrative markets and product lines, company executives said on Friday. A sign featuring Canopy Growth Corporation’s logo is pictured at their facility in Smiths Falls, Ontario, Canada, January 4, 2018 .Picture taken January 4, 2018.... Read More

More pain in store for Canadian marijuana companies after Aurora Cannabis, Tilray cut jobs

More pain in store for Canadian marijuana companies after Aurora Cannabis, Tilray cut jobs
TORONTO (Reuters) – Investors are bracing for more job cuts and writedowns at Canadian cannabis producers before the industry stabilizes and becomes profitable, after two of the biggest weed companies, Aurora Cannabis (ACB.TO) and Tilray (TLRY.O) announced cost reductions this week. FILE PHOTO: Chemdawg marijuana plants grow at a facility in Smiths Falls, Ontario, Canada October 29, 2019. REUTERS/Blair Gable/File... Read More

Aurora Cannabis to take C$1 billion in charges, cuts 500 jobs as CEO exits

Aurora Cannabis to take C$1 billion in charges, cuts 500 jobs as CEO exits
TORONTO (Reuters) – Aurora Cannabis (ACB.TO) said Chief Executive Terry Booth will retire and Executive Chairman Michael Singer become interim CEO as the beleaguered marijuana producer announced C$1 billion ($752.79 million) in impairment charges on Thursday. The Logo for Aurora Cannabis Inc., a Canadian licensed cannabis producer, is displayed on a screen on the floor of the New York Stock... Read More