Unlock Editor’s Digest for free Roula Khalaf, editor of the FT, picks her favorite stories in this weekly newsletter. Bird Global, the company that pioneered on-road electric scooter rentals, has filed for Chapter 11 bankruptcy protection in Florida, five years after becoming the fastest startup ever to reach a so-called “unicorn” valuation of over $1 … [Read more…]
Photo credit: Philippe Lopez/Getty Images Bird has filed for Chapter 11 bankruptcy, capping a turbulent year for the electric scooter company. In a press release today, Bird confirmed that the company had initiated a “financial restructuring process to strengthen its balance sheet” and that the company was continuing to operate as usual to pursue “long-term, … [Read more…]
Stocks traded higher on Tuesday after U.S. consumer prices rose at an annual rate of 3.1% in November, slowing from October, as gasoline prices fell. However, prices for housing, transportation and some other services increased. The Federal Reserve is expected to keep interest rates steady on Wednesday, and it’s likely the data won’t change those … [Read more…]