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September 01, 2020 1:26pm
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Ford fires CEO

The markets advanced during the midday with the Dow soaring 94 points to 20,899. Nasdaq climbed 49 points to 6,132.


Ford Motor unexpectedly replaced chief executive Mark Fields with former Steelcase chief executive James P. Hackett. Hackett previously served on the automaker's board of directors for three years then more recently became chair of its mobility services subsidiary Ford Smart Mobility. Hackett is tasked with overhauling Ford's hierarchical structure to expedite the decision making process and creating a


Amazon registered the trademark "No Queue. No Checkout. (No, Seriously.)" in the United Kingdom. The trademark is similar to the tagline "No Line. No Checkout. (No, Seriously.)" in the U.S. for the experimental Amazon Go no checkout grocery store that opened in December 2016 in Seattle for Amazon staff. Shoppers simply walk into the store, place desired items into a grocery bag then walk out.


The Department of Education expects to save approximately $130 million over five years by slashing the number of federal student loan servicing companies from nine to one. More than $1 trillion in student loans has been issued by the Education Department but private companies service the loans by collecting payments, administering payment deferment plans, and providing customer service. Critics claim that the loss of competition will lead to higher fees at the expense of students.


The broader S&P 500 climbed 12 points to 2,394. Bitcoin surged $208 to $2217.


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