Fisker filed for bankruptcy protection late on Monday as deal talks with a big automaker collapsed, exposing the electric vehicle startup to the fallout of a rapid cash burn to deliver Ocean SUVs in the United States and Europe.
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The S&P 500 risks as much as an 86% crash when the "bubble of all bubbles" burst, one economist warned.The IRS plans to end a major tax loophole for wealthy taxpayers that could raise more than $50 billion in revenue over the next decade, the U.S. Treasury Department says.
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Magna Steyr, despite Fisker woes, remains bullish on EVspMagna Steyr remains bullish on electrification, despite slowing consumer demand for electric vehicles and regardless of Fisker’s decision to cease production at the contract manufacturer’s facility in Austria./p
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