Abu Dhabi’s Mubadala Investment Co is in talks to acquire asset manager Fortress Investment Group from Japan’s SoftBank Group Corp, according to a source familiar with the matter. Earlier on Tuesday, Bloomberg News reported, citing a source, that the Abu Dhabi sovereign wealth fund is discussing a deal that would value Fortress at more than… Continue reading Mubadala in talks to buy asset manager Fortress from SoftBankA deal would value Fortress at more than $1 billion.
Category: Tech News
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Harvard University’s endowment fund said to be setting up Singapore office
Harvard University’s endowment fund is opening a Singapore office to expand its portfolio in the region, according to sources aware of the development. DealStreetAsia understands that the US endowment fund reached out to potential candidates to anchor its presence in Singapore and the rest of Southeast Asia, where it intends to conduct more direct investments.… Continue reading Harvard University’s endowment fund said to be setting up Singapore office
South Korea’s SV Investment raising around $100m for first SE Asia fund
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Q2 saw SE Asia’s startups record sharper drop in deal volume than first COVID-19 lockdowns
After five quarters of extended growth, the total volume of venture capital funding in Southeast Asia finally fell in the second quarter of this year as macroeconomic indicators turned sour and investors shifted their focus from growth to profitability. While the stance of the fund managers had been predicted since the start of the year… Continue reading Q2 saw SE Asia’s startups record sharper drop in deal volume than first COVID-19 lockdowns
Read the memo Google’s CEO sent employees about a hiring slowdown
Google has told employees that it’ll be “slowing down the pace of hiring for the rest of the year,” according to an internal memo Tuesday by CEO Sundar Pichai obtained by The Verge. Pichai says the company will have to “be more entrepreneurial” and work with “greater urgency, sharper focus, and more hunger than we’ve… Continue reading Read the memo Google’s CEO sent employees about a hiring slowdown
Tesla laying off 229 Autopilot workers, shuttering San Mateo office, filing confirms
Tesla is laying off 229 data annotation employees who are part of the company’s larger Autopilot team and is shuttering the San Mateo, California office where they worked, according to a California regulatory filing. TechCrunch previously reported that nearly 200 employees were being laid off, according to sources who talked to TechCrunch on condition of… Continue reading Tesla laying off 229 Autopilot workers, shuttering San Mateo office, filing confirms
Rimac begins production of its $2.5 million Nevera hypercar EV
The $2.5 million Rimac Nevera all-electric hypercar has begun rolling off the assembly line, launching on the world stage as the fastest production car and an emblem of the Croatian EV maker’s advanced battery technology. The sleek, low-slung 1,914-horsepower two-seater is the first model to test the strength of the November merger between French supercar… Continue reading Rimac begins production of its $2.5 million Nevera hypercar EV
Rivian CEO confirms layoffs could be part of restructuring to stay ‘nimble’
Rivian will continue to hire in strategically important areas even as it restructures its business and possibly cuts some jobs, according to an internal email from CEO RJ Scaringe that was sent to employees following reports the EV automaker was planning to lay off about 5% of its workforce. The email, viewed by TechCrunch, provides… Continue reading Rivian CEO confirms layoffs could be part of restructuring to stay ‘nimble’
The saga continues: Twitter sues Elon Musk to force deal
akub Porzycki/NurPhoto via Getty Images As promised, Twitter is taking Elon Musk to court. The social media site has sued the Tesla CEO, claiming he cannot back out of his commitment to acquire the company. On Friday, just under three months after declaring his intent to purchase Twitter and take it private, Musk said he… Continue reading The saga continues: Twitter sues Elon Musk to force deal
Tesla tries to help Texas grid amid heat wave with its cars until it can with Powerwalls
Tesla is trying to help Texas’s electric grid again amid another heat wave with its electric cars until it can with Powerwalls as it lobbies for some rule changes. Texas has a notoriously fragile grid that is having issues supporting increasing peak electricity demand. The issues have mostly come in the winter amid cold fronts,… Continue reading Tesla tries to help Texas grid amid heat wave with its cars until it can with Powerwalls