US Business

Executive Chairman Trevor Milton is stepping down from the electric-truck startup with immediate effect in the wake of allegations from a short seller that he and the company had made false statements to investors.

Garrett Motion proposed a $2.1 billion sale of the business to private-equity firm KPS Capital Partners.

An emerging deal to make China’s popular TikTok app a U.S.-based company stands to reshape the social-media landscape, even as questions persisted Sunday over security concerns and ownership of the new company.

Prices for meat are falling at grocery stores as last spring’s shortages fade and livestock clog farms, benefiting consumers but hurting meatpackers and farmers already hit by Covid-19 disruptions.

As the coronavirus’s spread continues in the U.S. and abroad, businesses have concluded they’ll coexist with it for some time. So they are reviving stalled operational plans, changing leaders and reissuing financial targets.

Steve Easterbrook said in a court filing that he complied with all the terms of his separation agreement with McDonald’s and it shouldn’t be allowed to claw back his multimillion-dollar severance package.

Unemployment rates in regions across the U.S. moved down this summer after peaking in April, when the coronavirus first triggered widespread lockdowns. Still, jobless rates clocked in above 10% in 10 states.

The popular Chinese-owned video-sharing app TikTok will partner with Oracle and Walmart to become a U.S.-based company after negotiations that stirred debate over national security and the future of the internet.

Company founders are mastering Zoom, and venture capital firms are triple-checking references, as the pandemic discourages in-person fundraising meetings.

China’s big tech companies are circling the auto-repair business in a bid to capture the boom in vehicle maintenance as the country’s vast car fleet begins to age.