Special Report: for Black South African Rugby Player, a COVID Victory, and Loss | World News

CAPE TOWN, South Africa (Reuters) – On Broadhurst Cona’s fifth night in the COVID-19 ward of Cape Town’s Groote Schuur Hospital, the patient in the bed next to him was giving up.

The man gripped his own throat in panic as he choked, and he kept pulling off his oxygen mask. Cona pleaded with him to put it back on, but the man was beyond listening.

Early the next morning, Cona awoke to a commotion. The man’s bed was empty, and nurses in protective clothing were spraying it down with disinfectant. He was sealed in a beige-coloured body bag, and it took four people to lift him away to a passage leading to the lift.

Cona didn’t know it yet, because his companion had been too sick to speak and his face unrecognisable with pain, but he had seen this man many times before, as an opponent on the rugby

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Car insurer Root files for Nasdaq IPO; H1 revenue of $245M, $145M loss

Root (ROOT) bills itself as “a technology company revolutionizing personal insurance with a pricing model based upon fairness and a modern customer experience.” The company wants to list on the Nasdaq under the “ROOT” ticker.

Root says it’s the only property and casualty insurance carrier with “a scaled proprietary telematics solution” that prices an entire book of business. The company has a large proprietary data set of miles driven, driving behavior, and associated claims.

The insurer is currently licensed in 36 states (active in 30) and hopes to be in every state by early next year.

Financials: 2018 revenue was $43.3M with a $69.1M net loss. 2019 had $290.2M in sales and a $282.4M loss. For H1 2020, revenue was $245.4M and a $144.5M loss.

Dragoneer Investment has agreed to purchase up to $250M in Class  A stock at the IPO price in a private placement that will close right

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Polestar 2 cars recalled due to potential power loss

Geely and Volvo Cars are the parent company of electric vehicle maker Polestar. Not long ago, Polestar issued a recall on close to 2200 Polestar 2 electric vehicles. The recall is blamed on a software glitch that caused several vehicles to lose power and stop running while driving.

A company spokesperson has said that there have been no accidents or personal injury related with these incidents. The spokesperson also noted that the brakes, steering, and other systems continued to function as expected despite losing power. The company has notified all owners as of Friday and intends to fix the software issue at a company service location as soon as possible.

The Polestar 2 is sold in China, Europe, and the US. The company has a goal to have an annual sales volume of over 50,000 vehicles within the next 2 to 3 years. Many see the vehicle as the best

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UK car dealer Pendragon turns profitable after first-half loss

FILE PHOTO: A man passes cars on a showroom forecourt in west London, Britain November 6, 2008. REUTERS/Toby Melville/File Photo

(Reuters) – British auto dealer Pendragon PDG.L said on Tuesday strong performance since the easing of COVID-19 lockdowns helped it return to profitability in July and August, after posting a smaller first-half loss.

However, the company, which operates the Evans Halshaw, Stratstone, Quickco and Car Store brands, did not reinstate full-year outlook over uncertainties that may exist once the government withdraws its support programs.

Pendragon said the pandemic would cost the company 44.1 million pounds this year.

The global health crisis has compounded troubles for UK car dealers, which were already facing muted demand and pressured margins on Britain’s decision to leave the European Union.

Pendragon in July announced plans to cut 1,800 jobs and close 15 loss-making stores as it dealt with pandemic-induced disruptions. Rivals Inchcape INCH.L and Lookers

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Auto Stock Roundup: NAV’s Q3 Loss & GM’s Deals With Nikola and Uber

The highlight of the past week was General Motors’ GM strategic alliance with Uber and Nikola, in a bid to step up its efforts toward an electrified future. Meanwhile, in a sharp reversal of its recent hot streak, Tesla TSLA declined 10.9% last week, after missing out on a place in the S&P 500 Index. In fact, shares of the electric vehicle maker marked the biggest daily percentage drop on record last Monday. Navistar International NAV also made headlines as Traton SE sweetened its bid to buy out the rest of the Illinois-based truck manufacturer. 

(Read the Last Auto Stock Roundup here)

Recap of the Week’s Most Important Stories

General Motors and Nikola Corporation NKLA entered into a strategic alliance. Per the partnership, General Motors will aid Nikola in engineering and manufacturing its Badger, a fully-electric and hydrogen fuel-cell electric pick-up truck. As part of the deal, General Motors will

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