Cybersecurity Company Cycurion to Go Public in Merger with SPAC
Cybersecurity company Cycurion will merge with the special purpose acquisition company (SPAC) Western Acquisitions Venture Corp. (WAVC) and go public, the companies announced in November. Virginia-based Cycurion provides managed security, managed IT, and consulting services, featuring a multilayer software platform that offers several layers of protection against cyberattacks...
Potential Trump Media Merger Delayed to 2023
Shareholders of blank check company Digital World Acquisition Company (DWAC) will delay its merger with Trump Media and Technology Group, the company said. Its shares rose 5% after the announcement was made. The Securities and Exchange Commission (SEC) and federal criminal investigators have been scrutinizing the potential merger, which would take Trump Media public.
Premium
Yellen Talks Omicron, Among Other Economic Issues
The latest Omicron variant could worsen supply chain snags and squash demand, slowing overall economic growth, Treasury Secretary Janet Yellen said at the Reuters Next conference on December 1, at which she addressed an assortment of economic issues. The highly contagious variant has caused much uncertainty, she said, comparing it to the Delta variant’s impact on the U.S. economy in early 2022...
IMF: Economic Growth Is Slowing Around the World
Global economic growth is slowing, due to Russia’s invasion of Ukraine, China’s strict COVID lockdowns, and rising interest rates, according to the International Monetary Fund. The world economy will grow 2.7% in 2023, down from 3.2% in 2022, the IMF predicted in a November report...
Premium
U.S., European Investment Banks May Make Cuts as Revenues Decline
Following declining revenues in their advisory and underwriting divisions, investment banks in the U.S. and Europe may cut jobs and bonuses, according to financial analytics and information company S&P Global. Bankers on these teams may lose anywhere between 20% to 45% in pay in 2022, independent compensation firm Johnson Associates Inc. reported...
Premium
Palo Alto Networks to Buy Cider Security
Following a spate of rumors, multinational cybersecurity company Palo Alto Networks has announced it will buy Israel-based Cider Security for about $195 million in an all-cash deal. Cider focuses on application security, including technology that monitors suspicious activity around live applications in the cloud and the full ecosystem surrounding them...
Premium
Norfolk Southern to Purchase Key Section of Chicago-Atlanta Rail Route
Norfolk Southern Railway (NS) will buy the Cincinnati Southern Railway from the municipality for $1.62 billion, the rail company, mayor, and railway board announced. The 336-mile line between Cincinnati and Chattanooga is a critical segment of the corridor connecting Chicago with Atlanta and the southeast...
Pending Rail Strike Could Have Far-Reaching Economic Ripples
Four rail unions have not approved contracts due to rigorous schedules and the lack of paid sick time, increasing the possibility of a strike on December 9. If freight trains stop moving, the economy will soon feel the effects. Some businesses have just a few days of raw materials, according to the Associated Press, and limited space for storing finished goods...
Premium
China’s Continued COVID Struggles May Have Global Economic Effects
China’s prolonged struggle with COVID may have far-reaching effects around the globe, despite many countries’ hope that the pandemic’s worst days have passed. Recent protests against Beijing’s strict zero-COVID policies have brought about renewed concerns regarding the lockdown’s effects on China’s economy and therefore, the global economy...
Bank of America to Use Ripple’s ODL Products Following SEC Suit
Once the U.S. Securities and Exchange Commission lawsuit against Ripple Labs Inc. is resolved, Bank of America will partner with the San Francisco-based payments platform, according to The Daily HODL and other media. Ripple Labs’ Chief Executive Officer, Brad Garlinghouse, allegedly told Linqto Director of Member Sales Nick Burrafato that the bank will use Ripple’s on-demand liquidity (ODL) product once the case is finished, the reports said...
Popular Articles
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...