money

Self-driving automakers’ first step to making money isn’t robotaxis

A WeRide robotaxi with medical supplies heads towards Liwan District on June 4, 2021, in southern China’s Guangzhou city. Daily of the Southern Metropolis | Visual Group China | Getty Images BEIJING — While governments may be wary of driverless cars, people want to buy the technology and companies want to cash in. It’s a …

Self-driving automakers’ first step to making money isn’t robotaxis Read More »

Zero-COVID, big money: China’s anti-virus spending boosts medicine, tech and construction

BEIJING, May 30 (Reuters) – China’s “zero-COVID” policy of constantly monitoring, testing and isolating its citizens to prevent the spread of the coronavirus has hit much of the country’s economy, but it has created growth bubbles in the medical, technology and construction sectors. The Chinese government, alone among major countries to have pledged to eradicate …

Zero-COVID, big money: China’s anti-virus spending boosts medicine, tech and construction Read More »

Melvin Capital will close its funds and return money to investors

Melvin Capital plans to close its funds and return the money to its investors, capping a stunning reversal for a company who lost big on soaring meme stocks last year and betting on growth stocks this year. In a letter to investors that was reviewed by The Wall Street Journal, Gabe Plotkin, Melvin’s founder, wrote …

Melvin Capital will close its funds and return money to investors Read More »