Business

Some of the world’s biggest oil traders are getting ready for the possible resurgence of a coronavirus-induced glut of crude and fuels, snapping up giant tankers for monthslong charters so that they can be ready to store excess barrels if necessary.

Just days after announcing a $2 billion agreement with General Motors, Nikola Corp. is fighting back against a “short seller” accusing the startup of deception and lying about its electric technology.

Kentucky officials recently announced $450,000 has been awarded to five river ports to assist with critical repairs and equipment improvements.

Tesla Inc. plans to ship cars made at its Shanghai factory to other countries in Asia and Europe, according to people familiar with the matter, shifting its strategy for the plant to largely focus on supplying the local market.

As the pandemic prompts people to shop from their homes and rely on contactless delivery services, gaining public trust in automated vehicle technology remains essential, experts said.

A fresh sell-off in megacap technology shares sent stocks to the fourth loss in five days as investors remain worried that valuations stretched too far in a five-month rally. Treasuries rose with the dollar.

Nikola Corp. shares fell as much as 13% after Hindenburg Research published a report accusing the startup electric-vehicle maker of “deception” and lying about its technology.

Hurricane Laura wreaked havoc when it made landfall Aug. 27, but fleets have rallied to help the victims in the couple of weeks since.

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The U.S. Senate is poised to vote Sept. 10 on whether to advance a slimmed-down Republican-crafted pandemic relief bill, opening what’s likely to be the final stage of the monthslong partisan battle over fiscal stimulus.