Investing in Chinese IPOs was once hailed as the safest of safe bets, with guaranteed huge returns to investors. The rationale was that the stock of a newly listed company would almost certainly rise well above its offer price, a pattern that had held true in most cases for many years. But this formula has… Continue reading Why newly listed Chinese stocks fall below their IPO prices
Category: Tech News
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Softbank Ventures-backed Propzy lays off over 50% amid business restructuring
Softbank Ventures Asia-backed proptech startup Propzy has laid off over 50% of its staff as the company scales down due to the pandemic and prepares to shift its business model, sources familiar with the matter told DealStreetAsia. The layoffs are understood to have taken place in September last year. Go to Source
Texas Teachers commits $450m to funds managed by TPG, Greystar Asia in May
The Teacher Retirement System of Texas (TRS), the largest public pension fund in the state of Texas, has committed a total of $450 million to funds managed by real estate investor Greystar Asia and global buyout firm TPG Capital. The pension fund’s filing showed that it committed $150 million to Greystar Equity Partners Asia Pacific… Continue reading Texas Teachers commits $450m to funds managed by TPG, Greystar Asia in May
Judge says former Tesla worker has 2 weeks to accept $15M payout over racial abuse
A federal judge told Owen Diaz, a former elevator operator at Tesla, that he has two weeks to decide whether he wants to accept $15 million in damages over racial abuse at the automaker’s Fremont, California factory, according to a court filing on Tuesday. In October last year, a San Francisco federal court jury ordered… Continue reading Judge says former Tesla worker has 2 weeks to accept $15M payout over racial abuse
Taco Bell opens its first ‘Defy’ restaurant that prioritizes ordering via app
Today, Taco Bell opened the doors to its new digital-driven, two-story restaurant concept, Taco Bell Defy, in Brooklyn Park, Minnesota. Taco Bell first told us about Taco Bell Defy back in August 2021. The location uses technology to speed up service, with a “bold goal of creating a 2 minute or less drive-thru experience for… Continue reading Taco Bell opens its first ‘Defy’ restaurant that prioritizes ordering via app
Bird plans to layoff 23% of staff
Shared micromobility company Bird plans to layoff 23% of its staff, according to tech layoff tracker Layoffs.fyi. The tech tracker attributes the news of the layoffs to an internal memo, but certain LinkedIn posts from former Bird employees confirm the news. We hate to say it, but we saw this coming, and not just because… Continue reading Bird plans to layoff 23% of staff
Nimbus launches tiny EV prototype that’s like a motorbike with a roof
As shared e-scooter companies have infiltrated cities and e-bike sales have soared, micromobility has been offered up as a panacea to save us all from the ill humors and packed streets caused by gas-guzzling cars. However, one of the major roadblocks in front of well-intentioned city dwellers who’d love to trade in their cumbersome and… Continue reading Nimbus launches tiny EV prototype that’s like a motorbike with a roof
Fisker says Ocean still coming in 2022, cites Magna delivering ‘out of this world’ product
During its 2022 annual stockholder meeting this morning, Fisker CEO Henrik Fisker shared several updates regarding the company and its progress in delivering its flagship Ocean SUV this fall. Despite supply chain constraints throughout the automotive industry, all skies look clear ahead according to Fisker, thanks in large part to a long-term agreement with contract… Continue reading Fisker says Ocean still coming in 2022, cites Magna delivering ‘out of this world’ product
Here’s what Tesla’s futuristic diner with drive-in theater and Supercharger could look like
Tesla’s futuristic diner with drive-in theater and Supercharger station is finally becoming a reality, and we get a look at what could look like thanks to renders based on the construction plans. This project has been in the work for a long time. In 2018, Elon Musk said that Tesla plans to open an “old school drive-in,… Continue reading Here’s what Tesla’s futuristic diner with drive-in theater and Supercharger could look like
Ford surprises F-150 Lightning owners with accessory that can recharge stranded Teslas
Ford has been vocal about the new F-150 Lightning’s bi-directional charging capability that enables owners to use the electric truck’s massive battery to charge other EVs. And, now, the company is apparently including a new accessory so these Good Samaritan truck owners can help out stranded Teslas. A member of an online forum for new… Continue reading Ford surprises F-150 Lightning owners with accessory that can recharge stranded Teslas