Electric vehicle startup-gone-SPAC Faraday Future has raised a going concern warning, per regulatory filings. The company said it has substantial doubt as to whether it would be able to continue operating over the next year, adding that it is uncertain when it will dispatch first deliveries of its FF 91 luxury EVs. This isn’t the… Continue reading Faraday Future warns it may not be able to deliver its luxury EV
Category: Tech News
Category Added in a WPeMatico Campaign
Twitter is reportedly done with job cuts and has started hiring again
Twitter won’t be firing and laying off more people, Elon Musk reportedly told the staff members who remained after asking employees to commit to an “extremely hardcore” Twitter during an all-hands meeting. According to The Verge, which heard a partial recording of the event, the company is even actively looking for people to fill roles… Continue reading Twitter is reportedly done with job cuts and has started hiring again
Indonesian employee benefit platform Venteny lines up $27m IPOThe startup booked a profit for the first time in H1 2022.
Close on the heels of churning out a profit, Indogen Capital-backed employee benefit and fintech solutions company PT Venteny Fortuna International (Venteny) is targeting to raise 423 billion rupiah ($27 million) in a domestic initial public offering (IPO). According to a prospectus published on Monday, the Indonesian startup plans to release 939 million shares, or… Continue reading Indonesian employee benefit platform Venteny lines up $27m IPOThe startup booked a profit for the first time in H1 2022.
Carlyle bullish on Japanese auto industry as EV shift shakes supply chainsCarlyle aims to enlarge its footprint in the Japanese automotive sector.
U.S. private equity firm Carlyle Group Inc aims to enlarge its footprint in the Japanese automotive sector as the global shift to electric vehicles (EVs) shakes the industry’s supply chain, its executives said. With the world quickly moving to EVs, Japanese auto parts suppliers are reviewing strategies that were traditionally tailored for combustion-engine cars, Reiji… Continue reading Carlyle bullish on Japanese auto industry as EV shift shakes supply chainsCarlyle aims to enlarge its footprint in the Japanese automotive sector.
People Digest: Everstone’s Atul Phull joins UBS; Vantage Capital Markets, AXA IM Alts announce key hires
Everstone Group’s managing director has joined UBS as an executive director. Separately, global brokerage and investment bank Vantage Capital Markets has appointed Federico Bazzoni as CEO of investment banking, while AXA IM Alts has appointed Lu Gao as head of Client Group Alts Asia. Phull to focus on SE Asia, Australia at UBS Atul Phull,… Continue reading People Digest: Everstone’s Atul Phull joins UBS; Vantage Capital Markets, AXA IM Alts announce key hires
China’s Letin raises $447m in Series A round to expand NEV sales
Letin, a Chinese new energy vehicle (NEV) manufacturer also known as “Levdeo,” announced on Monday that it has secured 3.2 billion yuan ($447.2 million) in a Series A round of financing to expand the business in China and worldwide. The lesser-known Chinese NEV company raised the Series A round from lead investor Weicheng West Investment… Continue reading China’s Letin raises $447m in Series A round to expand NEV sales
JD.com to cut salaries of senior executives by 10-20% next year
Go to Source
Crypto exchange FTX’s total cash balance at $1.24b
Cryptocurrency exchange FTX, which has filed for U.S. bankruptcy court protection, had a total cash balance of $1.24 billion as of Nov. 20, according to a court filing on Monday. FTX will see a drop in its cash flow by $20 million to $459 million by Dec. 23, from $479 million as of Nov. 25,… Continue reading Crypto exchange FTX’s total cash balance at $1.24b
TeamSnap Acquires LeagueSide
TeamSnap, a Chicago, IL-based provider of sports management software and the online community for everything youth sports, acquired LeagueSide, a community sports sponsorship platform. The amount of the deal was not disclosed. Through this acquisition, TeamSnap will launch a new offering for brands to connect with the youth sports industry, while bringing direct access to… Continue reading TeamSnap Acquires LeagueSide
Tesla (TSLA) is taking a beating; investors ask board to stop the bleeding
Tesla’s stock (TSLA) is currently taking a beating on the public market, and thousands of investors are now asking the company’s board to act to stop the bleeding. While the overall stock market has seen a downturn over the last few months, there’s no doubt that Tesla has had it harder than most. The automaker’s… Continue reading Tesla (TSLA) is taking a beating; investors ask board to stop the bleeding