advertisement advertisement advertisement advertisement Embattled electric vehicle company Workhorse Group is taking a tumble on the stock market today after the company said it would be recalling units of its C-1000 cargo vans and suspending further deliveries to allow for “additional testing” and modifications, which would be necessary to certify them by federal safety standards. advertisement According to the company, it expects the testing to be completed by the fourth quarter. On top of the safety evaluation, Workhorse said it’s redesigning aspects of the vehicle to increase payload capacity, which was requested through customer feedback. ( Fast Company has reached out to Workhorse for further comment, and will update if we hear back.) Workhorse’s stock sank more than 10% following the news, and is sitting at a dip of around 9% as of midday Wednesday. Unfortunately, Workhorse is no stranger to bad news—or stock plummets—as …
Tamil Nadu CM launches book by nine-year-old
Compiled by JIA QI CHOK, C. ARUNO and R. ARAVINTHAN A nine-year-old boy in Tamil Nadu got the honour of his book being officially released by Chief Minister MK Stalin, Makkal Osai reported. Hithiyasan Yadav’s latest book is a collection of short stories titled The Calamitous Gas.The book explains in simple story-like terms how the Earth will change over time if pollution and climate change are not controlled. The book, which is the boy’s fourth published work, was launched by Stalin at the state government office in Chennai. Shanmugam Kumarasamy said his wife Rishiyamalar Subramaniam, 64, was admitted to the Seremban hospital for the surgery. He claimed that she underwent a Covid-19 test and was allegedly confirmed to be clear before being admitted to the hospital on June 7. She underwent surgery the next day. On June 11, Shanmugam was informed by the hospital that she was receiving intensive treatment after contracting Covid-19. Nine days later, Rishiyamalar had died …
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What’s happening with Evergrande? China’s real-estate debt crisis rattles stock markets
advertisement advertisement advertisement advertisement News that real-estate giant Evergrande Group—once China’s top property developer, now Earth’s most heavily indebted—has reached the brink of collapse is causing what you might call “market jitters” today. Evergrande reportedly told banks that it won’t be able to meet the interest payments due today on its loans, and the Dow has responded by tanking more than 700 points so far , the Nasdaq by sinking by 2% , and the S&P 500 by dropping more than 1.5%, that index’s greatest volatility since May . advertisement Why does a single property developer in China have traders sweating bullets? Because the total debt that Evergrande has amassed ($305 billion, literally 2% of China’s GDP) suggests it may be too big to fail, and could have a ripple effect on the global economy if it did. That’s crippling nervous analysts with PTSD; some are calling this “ China’s Lehman Brothers …
Cord-cutting is killing the casual TV sports fan
advertisement advertisement advertisement advertisement You know how you’re not really that into sports, but you sometimes watch it anyway because you want to be au courant ? And you know how you don’t do that as much as you used to? Well, it turns out, you are the pay-TV industry’s worst nightmare—the increasingly hard-to-reach casual sports fan. advertisement A sharp new analysis from research firm MoffettNathanson looks at the problem of ever-elusive sports eyeballs from a socially wholistic perspective. Live sports has long been seen as the unsinkable saving grace of the linear-TV business, the one type of programming that people will consume in real time, commercials and all. But analysts Craig Moffett and Michael Nathanson have unpacked how this picture is more complex, and how the underlying assumptions that media outlets make are more fraught. While sports audiences are made up of a certain percentage of people who will actively …
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IRS unemployment refund: Waiting for direct deposit or paper check? Your tax return could be flagged
advertisement advertisement advertisement advertisement After several weeks of radio silence, we’re finally getting some clarity from the Internal Revenue Service (IRS) about the progress of those unemployment-related refund checks that it began sending out earlier this year. advertisement Well, the clarity isn’t exactly coming from the IRS. It’s coming from the Taxpayer Advocate Service, an office within the IRS that functions independently. In a blog post on Wednesday, Erin M. Collins, the national taxpayer advocate, provided an update on the 2021 tax filing season with some newly reported details about the refunds, which are being issued to millions of taxpayers who overpaid on unemployment compensation in 2020 due to changes in the tax law. Those changes excluded up to $10,200 in taxable income. According to Collins, the IRS processed 13 million taxpayer accounts through September 3 to reflect the changes, resulting in either a …
Ahmad Zahid not transparent when extending UKSB’s contract, court told
SHAH ALAM,(Bernama): The High Court was told on Tuesday that former Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi was not transparent and did not follow procedures when extending the contract of Ultra Kirana Sdn Bhd (UKSB) for the Foreign Visa System (VLN) project. Former Home Ministry deputy secretary-general (Policy and Control) Datuk Suriani Ahmad said Ahmad Zahid, 68, who was the then Home Minister, approved the contract extension in a short time without evaluating the performance of UKSB. Suriani said the evaluation of a company's performance was important because the company would carry the country's image and it was the government's responsibility to ensure that all processes were implemented properly. Asked by Deputy Public Prosecutor Wan Shaharuddin Wan Ladin whether the application was still approved even though no assessment was made, Suriani replied: "Yes". The fourth prosecution witness said this on the seventh day of the trial of Ahmad Zahid, who is …
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Seri Perdana renovation considers safety factors and country’s image, says PM
KUALA LUMPUR (Bernama): The renovation of the Prime Minister’s official residence at the Seri Perdana Complex, Putrajaya, was done after taking into consideration safety factors and to uphold the country’s image when welcoming foreign guests at the Prime Minister’s official programmes. Prime Minister Datuk Seri Ismail Sabri Yaakob said the renovation includes electrical improvements, mechanical wiring, air conditioning systems and structural renovation at the official residence block. The renovation also involved replacing old and dilapidated furniture to fit the status of the official residence of the Malaysian Prime Minister. "The status of the renovation of the Prime Minister’s official residence (Seri Perdana Complex) is going on as scheduled. As of Aug 30, the progress of the renovation work is at 60%,” he said in a written reply to Datuk Mahfuz Omar (PH-Pokok Sena). Mahfuz had wanted to know the status, components and scopes of the renovation work on the Seri Perdana …
Over 100 people now homeless after Semporna fire
SEMPORNA (Bernama): Over 100 people were left homeless after fire destroyed 27 houses in Kampung Tabunan, Pulau Bum Bum, near here, today. Semporna Fire and Rescue Department chief Fazizul Hizam Borhan said nine personnel including some from Semporna’s Floating Fire Station were dispatched to the scene after receiving an emergency call at 1.40 pm. On arrival at the location, firemen resorted to using portable water pumps but faced difficulty due to the receding tide and had to use only well water. Eleven houses were saved and no casualties were reported,” he said. He said the blaze was brought under control at 3.57 pm, and the cause of the fire and loss suffered were still under investigation.- Bernama …
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Haiti’s elections postponed after electoral council dismissed
PORT-AU-PRINCE (Reuters) - Haiti's general election, which had been scheduled for Nov. 7, has been postponed after Prime Minister Ariel Henry dismissed the council that organizes elections, which many in the country had felt was too partisan. Henry promised to appoint a new electoral council (CEP) that he said would be non-partisan and would set a new date for elections. Henry told CNN in an interview broadcast on Tuesday the process to replace the council had begun and elections would take place after a constitutional review in the "first months of the coming year." "We have made the decision today to halt this electoral council and form another one, one that will be more consensual and one that will be accepted by all of society," he added. The dismissal of the nine-member council, which was widely expected and confirmed by a decree in the official gazette on Monday, was met with approval by some lawmakers who had expressed doubts over its legitimacy. "We will ensure …
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Ahmad Zahid’s visa system corruption case postponed to Sept 1
SHAH ALAM (Bernama): The High Court here allowed an application by the defence in a corruption case involving Datuk Seri Dr Ahmad Zahid Hamidi (pic) in connection with the Foreign Visa System to vacate the hearing on Wednesday (Aug 25). Judge Mohd Yazid Mustafa granted the hearing to be vacated after Ahmad Zahid's counsel, Datuk Ahmad Zaidi Zainal, produced to the court a letter from a hospital stating his client's condition and injuries. "However, the hearing dates set on Sept 1 and 2 remain. It will also depend on Ahmad Zahid's condition. We can't anticipate for now. How long he will take to recover. "However, this is a case of public interest and the trial should continue soon," said the judge on Wednesday (Aug 25). Earlier, Ahmad Zaidi told the court that his client had been admitted to a private hospital after he fell down in his house last Sunday. At today's proceeding, the prosecution was represented by Deputy Public Prosecutor Wan Shaharuddin Wan Ladin. Ahmad …
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