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  • Business
    Reuters

    Fisker may seek bankruptcy protection in 30 days if unable to meet debt obligations

    The cash-strapped EV startup said it had failed to make an interest payment of about $8.4 million on some notes due in 2026 during a 30-day grace period. Fisker was also delisted by the New York Stock Exchange in March as its shares traded at "abnormally low" price levels. Fisker said its cash balance reduced to $325.5 million in 2023 from $736.5 million in 2022.

  • Business
    The Canadian Press

    Stock market today: Wall Street poised to open with gains as corporate earnings reports pour in

    HONG KONG — Wall Street pointed modestly higher early Tuesday as markets prepare to digest another heavy slate of corporate earnings. Futures for the Dow Jones Industrial Average were 0.1% higher before the opening bell, while S&P 500 futures rose 0.2%. General Motors rose 4.5% after the automaker reported that its first-quarter net income rose more than 25% on strong deliveries of pickup trucks and other higher-profit vehicles. Despite a slight dip un U.S. auto sales, GM easily beat Wall Street

  • Business
    Reuters

    Auto parts seller LKQ cuts 2024 sales forecast as warm weather slows demand

    "Our first-quarter results were below our expectations as our Wholesale – North America segment was confronted with a reduction in repairable claims and the resulting pressure on demand, which we believe is primarily attributable to record warm weather across the United States," CEO Dominick Zarcone said. LKQ, which also sells scrap and other materials to recyclers, had earlier flagged low commodity prices and said they would continue to be a headwind for its self-service segment.

  • Business
    Bloomberg

    Germany Probes ‘Spotless’ Bank Bonds Over Real Estate Values

    (Bloomberg) -- Germany’s financial regulator BaFin is taking a closer look at the real estate used by lenders to secure covered bonds known as Pfandbriefe, a €400 billion market traditionally considered among the safest in credit.Most Read from BloombergRay Dalio’s Famous Trade Is Sputtering, Investors BailingTrump Has Only $6.8 Million for Legal Fees With Trial UnderwayZimbabwe’s ZiG Wipes Out 330% Stocks RallyBillionaire Pinaults Fight to Pull Gucci Off the Discount RackApple’s China iPhone Sa