Tag: Claims

Loop Industries plummets 39% after a short-seller report claims its plastic-recycling technology doesn’t work



a man looking at the camera: Getty Images / Xinhua News Agency


© Getty Images / Xinhua News Agency
Getty Images / Xinhua News Agency

  • The same short-seller that targeted Nikola in September has set his sights on a new name: Loop Industries.
  • In a report released on Tuesday, Hindenburg Research alleged that Loop Industries’ technology for recycling plastics didn’t work, describing it as “smoke and mirrors.”
  • Shares of Loop Industries fell as much as 39% on Tuesday.
  • Visit Business Insider’s homepage for more stories.

The same short-seller that targeted Nikola in September is now alleging that another company “is smoke and mirrors” and is inflating its technological capabilities.

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In a report released on Tuesday, Hindenburg Research alleged that Loop Industries was peddling plastic-recycling technology that didn’t work.

Investors have taken note of what Hindenburg has to say since its September report on Nikola led to a drawdown of nearly 50% in that stock.

Loop Industries says it uses proprietary

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Loop Industries Drops – Hindenburg Makes Claims, Shorts Stock

Shares of Loop Industries  (LOOP) – Get Report lost a third of their market value on Tuesday after the activist investment group Hindenburg published a report lambasting the plastics-recycling company and said it took a short position.

The investment firm said it interviewed former employees, competitors, industry experts and company partners as part of its investigation and concluded that Loop is “smoke and mirrors with no viable technology.”

Loop, Terrebonne, Quebec, didn’t immediately return a request for comment. 

Former employees told Hindenburg that Loop operated two labs, one reserved for its “two twenty-something lead scientist brothers and their father” and one run by rank-and-file scientists who were unable to replicate results. 

The investment firm said that a Loop employee told Hindenburg that scientists were pressured by Chief Executive Daniel Solomita to “lie about the results of the company’s process internally. We have obtained internal documents and photographs to

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Loop Industries plummets 36% after a short-seller report claims its plastic-recycling technology doesn’t work

  • The same short-seller that successfully targeted Nikola Corp. in September has set his sights on a new name: Loop Industries.
  • In a report released on Tuesday, Hindenburg Research alleged that Loop Industries’ technology for recycling plastics doesn’t work. 
  • “Our research indicates that Loop is smoke and mirrors with no viable technology,” Hindenburg said. 
  • Shares of Loop Industries fell as much as 36% in Tuesday trades.
  • Visit Business Insider’s homepage for more stories.

The same short-seller that successfully targeted Nikola Corp. in September is now alleging that another company “is smoke and mirrors” and is inflating its technological capabilities.

In a report released on Tuesday, Hindenburg Research alleged that Canada-based Loop Industries is peddling a plastic-recycling technology that simply doesn’t work.

Investors are taking note of what Hindenburg has to say after its September short report on Nikola Corp. led to a drawdown of nearly

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Productivity Commission claims wide-spread regtech adoption will lift compliance

An information paper by the Productivity Commission has highlighted how there is scope for Australia to adopt regulatory technology (regtech) beyond the financial sector, with the belief it can improve regulatory outcomes and reduce the costs of administration and compliance.

In its regulatory technology information paper [PDF], the Productivity Commission noted how Australia is “well-placed” to develop regtech solutions given its “relatively stable and sophisticated” regulatory systems, but currently, extensive use of regtech remains relatively low.

“Low awareness can dampen both demand and supply responses — business need to see value in changing their software so that developers see value in investing in applications, which in turn deliver the value businesses need to see,” the paper stated.

It went on to suggest that Australia could extend its existing use of “low-tech” solutions, including digitised data, forms, registers, and transactions to streamline business and individual transactions with government, as well as

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It’s Not Good News, Insider Claims

Apple AirTags, the highly anticipated location trackers that have been on the horizon for ages, it seems, are not about to be announced alongside the iPhone 12 at Apple’s big event next week.

MORE FROM FORBESAlongside iPhone 12, Apple Event Will Reveal HomePod Mini, Report Claims

That’s according to the highly reliable tipster Jon Prosser, who has tweeted: “This one hurts my heart: I’m being told that Apple has pushed back the announcement and launch of AirTags to March of 2021.”

Well, that’s a shame. AirTags not only sound fantastic but images of them exactly match the central image on next week’s Apple Event invitation, that is, the Apple logo on a circular device.

Assuming that visual similarity isn’t a coincidence – and this is Apple, so there ain’t no such thing as an accident here – it suggests that until very recently, that is,

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Tiny Changes Let False Claims About COVID-19, Voting Evade Facebook Fact Checks : NPR

Facebook labels posts that its fact checkers have found false, as in the screenshot on the left. On the right, a similar post had no label applied.

Screeenshot via Avaaz


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Screeenshot via Avaaz

Facebook labels posts that its fact checkers have found false, as in the screenshot on the left. On the right, a similar post had no label applied.

Screeenshot via Avaaz

Something as simple as changing the font of a message or cropping an image can be all it takes to bypass Facebook’s defenses against hoaxes and lies.

A new analysis by the international advocacy group Avaaz shines light on why, despite the tech giant’s efforts to stamp out misinformation about the coronavirus pandemic and the U.S. election, it’s so hard to stop bad actors from spreading these falsehoods.

“We found them getting around Facebook’s policies by just tweaking the misinformation a little bit,

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CAC claims majority of Mahindra vehicles under PNP still running healthy

Majority of the Mahindra units  procured by the Philippine National Police (PNP) are said to be in good condition. This was based on the report submitted by the Columbian Autocar Corporation (CAC).

CAC said that around majority of the 2,045 vehicles—composed of Enforcer Patrol Jeeps and the Scorpio Light Transport Vehicles (LTV)—have undergone continuous aftersales program.

From October 22, 2018 up to February 29 this year, Mahindra conducted a regular Preventive Maintenance Service (PMS) and free inspection on 1,645 units that were under the PNP and were serviced for freesaving more than P10 million worth of parts and services in the campaign.

Further, CAC gave Goodwill Warranty for the 474 units that were already out of coverage—meaning a unit has been accorded with the same service as those under the rated period. Such move gave an additional savings of above P12.6 million.

The initiative was made

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Tier: German e-scooter startup claims profitability

  • European electric scooter startup Tier turned a profit in Q3, according to financial documents seen by Business Insider. 
  • Tier is comparatively small and only operates within Europe, but its numbers indicate that scooternomics may not be as unprofitable as critics feared.
  • “We have made long-term structural changes and wanted to ensure we could be profitable through winter periods of low demand, but also Covid,” Tier CFO Alex Gayer commented. 
  • Visit Business Insider’s homepage for more stories.

European scooter rental startup Tier is currently profitable, according to internal documents shown to Business Insider.

The startup’s revenue is in the tens rather than hundreds of millions of euros. But with billions of dollars ploughed into scooter startups, Tier’s leadership bills its shift to profit as vindication of careful, managed growth.

A bonus is that the company has achieved positive financial results despite the pandemic stymieing the expected summer boom in rides.

“We

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IonQ Releases A New 32-Qubit Trapped-Ion Quantum Computer With Massive Quantum Volume Claims

Last May, I had a discussion with Peter Chapman, CEO of IonQ, a start-up quantum computing company.  Before coming to IonQ, Chapman worked for Amazon, where he was responsible for all the technical complexities of Amazon Prime.  IonQ had accomplished a lot in the twelve months that Chapman had been at the helm, so I was looking forward to talking to him. 

My biggest surprise during that discussion was that IonQ was simultaneously working on its next three generations of its trapped-ion quantum computers – 5th, 6th, and 7th generations. 

In a recent follow-up with Chapman, including Chris Monroe, IonQ’s Co-founder and Chief Scientist, we discussed IonQ’s release of its 5th generation quantum hardware.  Keep in mind that the 6th and 7th generations are still in development. Chapman said that each generation would be smaller and more powerful than its predecessor when released.  Although he

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Supreme Court hears Oracle’s claims that Google violated copyright law in using Java to create Android

The case, which has broad ramifications for the software industry, has bounced around various courts over the years. In 2016, jurors ruled Google’s use of the Java code was permitted as “fair use” under federal copyright law. Two years later, a federal appeals court overturned that, ruling that there is “nothing fair about taking a copyrighted work verbatim and using it for the same purpose and function as the original in a competing platform.”

The dispute centers on the technical way software developers use application programming interfaces, or APIs. That’s the computer code that enables websites and applications to work together. APIs also reduce the amount of basic computer coding developers need to write with each program.

Google contends that it only used the pieces of Java code that it could not re-create when developing Android.

“Software programs have always worked with each other, that’s why you can take a

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