Luckin Coffee shares fall 81% after board suspends COO for alleged ‘fabricated transactions’

Luckin Coffee shares fall 81% after board suspends COO for alleged ‘fabricated transactions’

Luckin Coffee (LK) shares collapsed after the company suspended its COO Jian Liu and “several employees reporting to him” for misconduct related to “fabricated transactions.” The stock opened on Thursday at $4.91, down 81% from Wednesday’s closing price of $26.20. “The information identified at this preliminary stage of the Internal Investigation indicates that the aggregate […]
Besides coronavirus, vulnerable seniors face 2 other challenges

Besides coronavirus, vulnerable seniors face 2 other challenges

As if the health concerns from coronavirus weren’t enough, advocates are warning that many senior citizens also facing a web of other worries as the global pandemic drags on. “Clearly older adults right now in the United States are at the epicenter of the COVID-19...
Coronavirus crisis gives Trump political boost: Campus Reform editor

Coronavirus crisis gives Trump political boost: Campus Reform editor

More Americans approve of Trump since coronavirus hit the United States than before, according to polling data available on FiveThirtyEight. Currently, Trump’s standing in the national polls is over 45%, an increase from his approval rating in January, before COVID-19...
‘The economy has fallen into the abyss’

‘The economy has fallen into the abyss’

The coronavirus outbreak, or COVID-19, has pushed the U.S. economy to break yet another record, with 6.648 million people applying for unemployment claims for the week ending March 28. This number is a sign of the times to come, one economist wrote. “Net, net, job...
Coronavirus a ‘wake-up call’ on equal pay and domestic violence

Coronavirus a ‘wake-up call’ on equal pay and domestic violence

The novel coronavirus outbreak has imperiled millions of financially vulnerable Americans, many of whom have joined food bank lines or created GoFundMe pages — and new research suggests the hardship could be especially difficult for women. In a newly released...