Intel’s Self-Driving Tech Company to Go Public
Mobileye, Intel’s self-driving technology company, is going public, according to a late-September IPO filing with the Securities and Exchange Commission. The company, which is based in Israel, produces the brain of the autonomous vehicle—the software and chips that tell it where to go and what to do...
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Clean Energy Storage Maker Moxion Raises $100 Million
Moxion Power Co., which produces clean, mobile energy storage technology, said it has secured $100 million in Series B funding, which it will use to scale production at two new domestic manufacturing facilities. The company also signed a strategic partnership with Sunbelt Rentals, which will purchase Moxion units through 2025...
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Millennials, Gen X Employees Consult Employers for Investment Advice
Employers have been sponsoring investment advice programs for years, but employees don’t use them equally. While rates of usage have increased by 10% in the last decade, according to Hearts & Wallets, an independent financial industry research firm, they differ according to employee age...
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A U.S. Recession Could be Good for Developing Countries
Emerging economies would benefit from a U.S. recession, according to David Lubin, Head of Emerging Markets Economics at Citibank. Interest rates would decline and the dollar would weaken, he says in the Financial Times, reversing the economic tightening that has been bad for emerging economies...
Chinese Government Censors JPMorgan and Goldman Sachs as Economy Declines
Amidst a worsening property crisis and falling yuan, Chinese authorities have moved to censor the Beijing-based research arms of JPMorgan Chase & Co. and Goldman Sachs Group, Inc. The action came as the 20th Communist Party National Congress commenced on October 16. China’s Securities Regulatory Commission asked the banks to withhold the publication of politically sensitive financial information before the meeting took place...
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NioCorp to Merge with SPAC to Fund Critical Minerals Project
Mineral exploration company NioCorp Developments Ltd. and GX Acquisition II, a special purpose acquisition company (SPAC), have announced a definitive merger agreement valuing the combined entity at $313.5 million. The deal would provide additional capital for NioCorp’s Elk Creek Critical Minerals Project in southeastern Nebraska.
Opto Investments Secures $145 Million in Series A Funding
Opto Investments, a provider of technology solutions for registered investment advisors, has announced it has emerged from stealth with $145 million in Series A financing. The company operated in temporary secrecy as “LIT.” Tiger Global led the round with participation from 8VC, a technology and life sciences investment fund, along with MSD Capital, Clocktower Ventures, FinVC, and HOF Capital...
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Russian War to Cost World $2.8 Trillion
Russia’s unprovoked invasion of Ukraine has not only cost innocent lives; it has caused a reverberating global economic impact. Russia’s aggression will cost the world $2.8 trillion, according to The Organisation for Economic Co-operation and Development’s (OECD) new report, “The Cost of War.”...
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Dollar’s Strength May Be Making Rest of World Weaker
Typically, the foreign exchange market is fairly stable. Currency fluctuations tend to be minor. But that trend may be shifting. Interest rate hikes have caused volatility, creating dramatic fluctuations in the price of money and competition among national currencies that has strengthened the U.S. dollar...
IMF Director’s “Darkening” Outlook for Global Economy
The International Monetary Fund (IMF) lowered its previous forecast for 2.9% global growth in 2023 to 2.7% at the 2022 Annual Meetings of the International Monetary Fund and the World Bank Group, which took place from Monday, October 10, to Sunday, October 16, in Washington, D.C. Kristalina Georgieva, the Managing Director of the IMF, initially made this announcement in a speech at Georgetown University...
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Hertz Appoints Scott M. Haralson as Chief Financial Officer
Hertz Global Holdings, a prominent global rental car company, has announced the appointment of Scott M. Haralson as Chief Financial Officer. "His deep expertise in financial management and leveraging the capital markets to drive business transformation will be invaluable to Hertz as we rotate our fleet, deliver operational excellence, build greater cost discipline and undertake other key initiatives to improve our financial performance", stated Hertz CEO Gil West...
Navan Appoints Amy Butte as Chief Financial Officer
Navan, the comprehensive super app simplifying travel and expense management, announced the appointment of Amy Butte as Chief Financial Officer effective June, 2024. Butte, who joined Navan's Board of Directors in April 2024, has resigned from her role as Audit Committee Chair to assume this executive position...