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☆ Automaker Stellantis signs battery metals offtake deal with Australia's Kuniko
▼ + stars: | 2023-07-02 | by ( ) www.reuters.com time to read: +1 min

July 3 (Reuters) - Australia's Kuniko (KNI.AX) said on Monday it had signed an offtake and equity investment agreement with automaker Stellantis (STLAM.MI) to support the development of its Norwegian battery metals projects. Stellantis would invest 5 million euros ($5.45 million) at an issue price of A$0.467 per share in the battery metals miner in return for a near 20% stake, Kuniko said. Kuniko shares rose as much as 58.1% to A$0.680, their highest level since Oct. 31. Under the deal, announced by Stellantis on Friday, the carmaker will also get 35% of the nickel sulphate and cobalt sulphate produced from Kuniko's Norway exploration projects for nine years. The funds from the Stellantis' equity investment will be used to advance Kuniko's brownfield and greenfield battery metals exploration projects in Norway, the company said.

Persons: Stellantis, Kuniko, Himanshi Akhand, Rishav Chatterjee, Rashmi Aich, Krishna Chandra Organizations: Thomson Locations: Norway, Bengaluru

☆ Cyanide maker Draslovka mulls equity raise to drive new mining technology
▼ + stars: | 2023-06-30 | by ( Jan Lopatka | ) www.reuters.com time to read: +3 min

REUTERS/Jan LopatkaPRAGUE, June 30 (Reuters) - Cyanide maker Draslovka is considering an equity fundraising worth hundreds of millions of dollars support the roll out of new technology that could help miners slash use of cyanide, its CEO said in an interview on Friday. The privately-held Czech company is the world's leading sodium cyanide maker. It acquired Australian Mining & Process Solutions last year, which developed innovative glycine leaching technology that can cut cyanide usage in mining by about half, depending on the circumstances. Draslovka hopes the technology will spearhead a transformation of the industry, raising its effectiveness and reducing environmental impacts. Bruzek said Draslovka had another 10 similar potential projects lined up by year-end, including a top nickel and cobalt miner.

Persons: Pavel Bruzek Jr, Jan Lopatka, Draslovka, Bruzek, JP Morgan, Barrick, Emma Rumney Organizations: Draslovka, REUTERS, Australian Mining, U.S, Oaktree Capital Management, Partners, Thomson Locations: Prague, Czech Republic, Jan Lopatka PRAGUE, Czech, London, United States, Sasol, South Africa

☆ 'Very likely' no large China stimulus in the short term, fund manager says
▼ + stars: | 2023-06-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Very likely' no large China stimulus in the short term, fund manager saysDaniel Li, GaoTeng Global Asset Management's chief equity investment officer, says he also expects markets to continue to be volatile.

Persons: Daniel Li Organizations: Management's Locations: China

☆ Stellantis signs deal with Kuniko for supply of battery materials
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +2 min

MILAN, June 30 (Reuters) - Stellantis (STLAM.MI) has signed an offtake and equity investment agreement with Australia-listed Kuniko (KNI.AX), the latest of a string of deals aiming to give the carmaker stable supply of key materials for vehicle batteries. The funds provided by Stellantis will help support Kuniko's brownfield and greenfield battery metals exploration projects in Norway, which include nickel, cobalt and copper. Stellantis' Chief Purchasing and Supply Chain Officer Maxime Picat said the world's third largest carmaker by sales was on an "aggressive path" to securing raw materials needed to meet its electrification targets. "With Kuniko, we are adding another lever to support our European battery needs with a local and environmentally conscious solution from its Norwegian projects," he said. The completion of the offtake agreement and of the share subscription with Kuniko are subject to conditions, including regulatory approvals, the two companies said.

Persons: Stellantis, Maxime Picat, McEwen, Giulio Piovaccari, Gavin Jones Organizations: MILAN, Purchasing, Fiat Chrysler, Peugeot, PSA, Vulcan Energy, Resources, Thomson Locations: Australia, Franco, Italian, Norway

CARE Hospitals Group, according to another investor source, is in talks to sell a 70% stake to U.S. investment giant Blackstone (BX.N) in a deal valued at $800 million. MORE ATTRACTIVE THAN EVERAs government hospitals became increasingly overburdened and incomes rose in India's vast middle class, demand for private healthcare rose over the years. "The India healthcare opportunity has always been attractive, but never more than now. In 2022, PE investors spent $3.2 billion buying stakes in hospitals in India. "Big private hospitals are more reliable," said 35-year-old G. Chavan said as he accompanied his wife to see a doctor.

Persons: Rana Mehta, PwC's, Atlantic, Indira, Blackstone, Gaurav Sharma, Investcorp, Nishant Sharma, Sharma, Chavan, Sriram, Aditya Kalra, Simon Cameron, Moore Organizations: PwC, General Atlantic, CARE Hospitals, Blackstone, CARE, Kedaara Capital, ASIA'S PACE, Temasek, Reuters Graphics, Apollo Hospitals, Thomson Locations: India, PUNE, Pune, Indira, Bahrain, Mumbai, Manipal, Asia

☆ Eli Lilly to buy Sigilon Therapeutics to expand diabetes treatments
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

A major provider of diabetes drugs and insulin, Lilly owned nearly 8.44% stake in Sigilon as of March 27. It would pay $14.92 per share, or $34.6 million in upfront cash, for the rest of the company. Sigilon shareholders will get an additional $111.64 per share if they achieve certain developmental and regulatory milestones, Lilly said. The deal, which is expected to close in the third quarter of 2023, would give Lilly access to Sigilon's proprietary cell therapy candidate being developed to treat type 1 diabetes. The two companies have been partners since 2018, when Lilly paid Sigilon $63 million for a licensing deal to develop cell therapes targeting type 1 diabetes and made an undisclosed equity investment.

Persons: Eli Lilly, Lilly, Sigilon, Mariam Sunny, Shilpi Majumdar Organizations: Sigilon Therapeutics, Thomson Locations: Sigilon, Bengaluru

☆ Investing in Space: India is the industry's 'sleeping giant,' according to an expert behind the international Artemis Accords
▼ + stars: | 2023-06-29 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +3 min

Indian Ambassador Taranjit Sandhu, right, talks with NASA Administrator Bill Nelson, after having signed the Artemis Accords on June 21, 2023. CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. Gold described India as "a sleeping giant in the space world that is awakening" – albeit "one that's been snoring loudly." Gold believes India's bureaucratic reforms in its space efforts are helping the country move faster in the sector. "No one is altering their path – we're just complementing each other relative to Artemis and the existing plans with India.

Persons: Taranjit Sandhu, Bill Nelson, CNBC's Michael Sheetz, Narendra Modi, Mike Gold, –, Gold, Artemis Organizations: NASA, Artemis Accords, CNBC's, India's, Modi's, Indian Space Research Organization, ISRO, International Space Station, U.S, Space Force, Space, CNBC, Galactic Locations: U.S, India, Russia, China

☆ Stocks making the biggest premarket moves: Joby, Micron, Wells Fargo, Freyr Battery and more
▼ + stars: | 2023-06-29 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Check out the companies making the biggest moves in premarket trading. Joby Aviation — Joby shares gained another 17% premarket. The aviation company announced a $100 million equity investment from South Korea's SK Telecom, expanding an existing partnership. Wells Fargo , JPMorgan Chase , Bank of America — The banks moved higher after passing the Federal Reserve's annual stress test Wednesday. Wells Fargo and Bank of America gained nearly 2%, while JPMorgan rose 1.6%.

Persons: Wells, Charles Schwab —, Morgan Stanley, Adam Jonas, Berkshire Hathaway, Overstock, Richard, —, Macheel, Jesse Pound, Sarah Min, Michael Bloom, Brian Evans Organizations: Aviation, New York Stock Exchange, Joby, South Korea's SK Telecom, Micron Technology, Micron, JPMorgan Chase, Bank of America, Federal, JPMorgan, Citizens, Providence, Occidental Petroleum —, Petroleum, Berkshire, Warren Buffett, Virgin Galactic —, Virgin Galactic Locations: New York, South, Wells Fargo, Providence , Rhode Island, Wednesday's, Virgin

☆ Norwest Venture Partners just hired ex-Salesforce sales guru David Rudnitsky. Here's why VC firms are now expanding their platform teams.
▼ + stars: | 2023-06-28 | by ( Madeline Renbarger | ) www.businessinsider.com time to read: +4 min

Norwest has hired ex-Salesforce sales guru David Rudnitsky to be its third operating executive. The hire is part of the firm's recent expansion of its portfolio services team for its founders. Here's why more VC firms may be doubling down on these roles during the market downturn. "We try to be an invited guest in the companies," he said of his work with his first four Norwest portfolio companies. For Norwest, its portfolio services team was launched 13 years ago by partner Katie Belding, who has been at the firm for over two decades.

Persons: Norwest, David Rudnitsky, Rudnitsky, he's, Marc Benioff, I've, It's, Andreessen Horowitz, Kleiner Perkins, Katie Belding, Belding, Lisa Ames, Renée Cohen Organizations: Norwest Venture Partners, Oracle, Netscape, Salesforce

☆ Stocks making the biggest moves midday: Lordstown Motors, Walgreens Boots Alliance, Delta and more
▼ + stars: | 2023-06-27 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Walgreens also reported adjusted earnings per share for its fiscal third quarter of $1, missing a Refinitiv forecast of $1.07. Roblox — The gaming platform popped 5.8% after Bank of America reiterated its buy rating, saying the stock is a leader in the Metaverse category. Meta Platforms — The big technology stock added 2% after Citi reiterated its buy rating. Frontier Communications — Shares rose 4.1% on the back of Wolfe Research initiating coverage of the stock at outperform. Saia — The transportation stock rose 6.7% on the back of Evercore ISI upgrade to outperform from in line.

Persons: Steve Burns, Lordstown, Generac, Aaron Jadgfeld, Kellogg — Kellogg, Goldman Sachs, Oppenheimer, Wolfe, Wells, Wells Fargo, Saia, Northcoast, Cars.com, Jesse Pound, Michelle Fox Organizations: Lordstown Motors Corp, Lordstown Motors, Walgreens, Delta Air Lines, Equity Investment, Bloomberg News, Investment, Royal, Bank of America, Citi, Nike, Frontier Communications, Wolfe Research, Energy, JPMorgan, Unity Software, ISI Locations: Lordstown , Ohio, U.S, Brookfield, Royal Caribbean, Texas

☆ Stocks making the biggest premarket moves: Walgreens, Kellogg, Eli Lilly, Delta and more
▼ + stars: | 2023-06-27 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

It also reported adjusted earnings per share for its fiscal third quarter of $1, missing a Refinitiv forecast of $1.07. Kellogg — Shares added 2.5% in premarket trading after an upgrade from Goldman Sachs to buy. Delta Air Lines — The travel stock added about 1% in premarket trading after Delta forecast full-year adjusted earnings of $6 per share, at the high end of previous guidance. American Equity Investment Life — The stock jumped 15% in premarket trading after Bloomberg reported Canadian investment firm Brookfield was close to making a deal to buy the insurance firm for approximately $4.3 billion. The Wall Street firm said it expects deteriorating trends in key markets and higher competitive supply versus its peer group.

Persons: Kellogg —, Goldman Sachs, Kellogg, Taiwan's Foxconn, Eli Lilly —, Eli Lilly, retatrutide, Morgan Stanley, —, Sarah Min, Brian Evans, Jesse Pound, Michael Bloom Organizations: Walgreens, Alliance, Lordstown Motors, Motors, U.S, Delta Air Lines, Delta, Equity Investment, Bloomberg, Resorts Locations: New York City, Brookfield

☆ Saudi sovereign wealth fund PIF sells McLaren stake to Bahrain -Sky News
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +1 min

June 21 (Reuters) - Bahrain's state investment fund Mumtalakat is buying preference shares and warrants worth 400 million pounds ($510.48 million) in carmaker McLaren from Saudi Arabia's Public Investment Fund (PIF) and Ares Management (ARES.N), Sky News reported on Wednesday. The transaction will not lead to any new money being injected into McLaren, the Sky News report said, adding that an announcement from Mumtalakat on the deal will come on Thursday. The purchase will expand Mumtalakat's majority stake in McLaren group, which includes the British supercar maker as well as McLaren Racing. In July 2021, global investment firm Ares Management and Saudi's PIF provided much of a 550 million-pound equity investment in the McLaren group. Ares Management declined to comment, while McLaren and the PIF did not immediately respond.

Persons: carmaker McLaren, PIF, Ares Management, McLaren, Khalid Al Rumaihi, Bharat Govind Gautam, Chris Reese, Matthew Lewis Organizations: Saudi Arabia's Public Investment Fund, Ares Management, Sky News, McLaren, British, McLaren Racing, Reuters, Thomson Locations: Mumtalakat, Bengaluru

The car maker said it plans to spend about 35.8 trillion won on EVs in the period to 2032, targeting the sale of 2 million EV units annually by 2030. To enhance its competitiveness in batteries and develop next-generation batteries, Hyundai Motor plans to invest 9.5 trillion won over the next 10 years, it said in the statement. Hyundai Motor said it plans to introduce competitive lithium-iron-phosphate (LFP) batteries with increased energy density and improved low-temperature efficiency for the first time around 2025. In China, Hyundai Motor said it will halt production at another plant this year following the shutdown of its fifth plant. It also plans to reduce the available model numbers from 13 to eight to focus on SUVs and Genesis luxury brand models.

Persons: 1,280.8200, Hyunsu Yim, Heekyong Yang, Ed Davies, Jacqueline Wong Organizations: Hyundai, Kia Corp, EVs, Hyundai Motor, Thomson Locations: SEOUL, KS, United States, Seoul, China

☆ Bank of America commits $500 million to funds led by minority, women entrepreneurs
▼ + stars: | 2023-06-15 | by ( Saeed Azhar | ) www.reuters.com time to read: +2 min

NEW YORK, June 15 (Reuters) - Bank of America Corp (BAC.N) on Thursday said it has committed more than $500 million in equity investments to funds led by minority and women entrepreneurs, more than doubling from its initial commitment of $200 million. The bank has committed equity to more than 150 funds, which to date have invested in over 1,000 companies that span 40 states, it said. These companies are led by 1,500 diverse entrepreneurs and employ over 21,000 people. "As a company, we looked at how to support women and diverse entrepreneurs," Tram Nguyen, global head of Strategic and Sustainable Investments at Bank of America, told Reuters. "Each time we support a minority or women-led fund, they in turn support diverse entrepreneurs, which ultimately helps us toward achieving our goal to advance racial equality and economic opportunity," Nguyen said.

Persons: Nguyen, Nasir Qadree, George Floyd, Saeed Azhar, Chizu Nomiyama, Mark Porter Organizations: YORK, Bank of America Corp, Strategic, Sustainable Investments, Bank of America, Reuters, Capital Partners, Thomson Locations: Esusu

☆ Bank of America makes $500 million equity push for minority- and women-led funds
▼ + stars: | 2023-06-15 | by ( Yuheng Zhan | ) www.cnbc.com time to read: +2 min

Bank of America has committed to giving more than $500 million in equity investments to minority- and women-led fund managers to support diverse entrepreneurs, the bank announced Thursday in a press release. The program started in 2020 and so far, more than 150 funds have used the equity to invest in upward of 1,000 companies, collectively controlling $7 billion of capital, Bank of America said. This translates to support for 1,500 diverse entrepreneurs and the employment of more than 21,000 people. Bank of America is also separately working with the National Football League and National Black Bank Foundation to support Black- and minority-owned banks, CNBC's Frank Holland reported. "We're very focused on supporting our fund managers," Nguyen said.

Persons: Nguyen, Gabrielle Fonrouge, CNBC's Frank Holland Organizations: of America, Bank of America, National Football League, National Black Bank Foundation Locations: Crunchbase

☆ California pension fund looks to boost venture capital investments despite startup market turmoil
▼ + stars: | 2023-06-14 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

California's giant public pension fund is looking to increase its venture capital exposure in the coming months, despite a swoon in the startup market and lackluster performance of late by the fund's VC portfolio. Between 2000 and 2020, CalPERS underperformed the venture market, according to a PitchBook report, notching annual returns of 0.49%. In the last year, while CalPERS' PE portfolio returned −4.7%, CalPERS' venture investment performance came in at −24.8%. The pension fund's investments have skewed to the public market and to so-called "real assets," such as property. WATCH: Pension funds venture investments

Persons: Anton Orlich, Orlich, CalPERS Organizations: California Public Employees, National Venture Capital Association, Venture Locations: −

☆ Glencore, automakers to back $1 bln nickel, copper SPAC deal in Brazil
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +3 min

[1/2] The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, September 30, 2015. Glencore will invest $100 million in ACG equity. Stellantis and mining investment fund La Mancha Resource Capital will each provide an equity investment of the same amount, while PowerCo will make a $100 million nickel prepayment. During the process, ACG will become ACG Electric Metals and issue new shares, making Glencore, Stellantis and La Mancha owners of 51% and leaving 49% for free float, Artem Volynets, ACG chief executive, told Reuters. The deal "will establish ACG Electric Metals as a premier supplier of critical metals into the western EV value chain," Volynets said.

Persons: Arnd, ACG, Mick Davis, PowerCo, Artem Volynets, Appian, Sibanye, Volynets, En, Rusal, Polina Devitt, Clara Denina, Kirsten Donovan, Jason Neely Organizations: REUTERS, Chrysler, Company, Santa, Appian, Chartered, Citigroup, Blue Resources, Metals Acquisition Corp, Glencore, La, La Mancha Resource, Metals, Reuters, South Africa's, Hong, Thomson Locations: Baar, Switzerland, Brazil, London, New York, Western Europe, North America, La Mancha, Stillwater, Santa Rita, Hong Kong

☆ Goldman Sachs CEO David Solomon warns of pain ahead for commercial real estate
▼ + stars: | 2023-06-12 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

CEO David Solomon, Goldman Sachs, during a Bloomberg Television at the Goldman Sachs Financial Services Conference in New York, Dec. 6, 2022. Goldman Sachs CEO David Solomon said Monday that his bank will disclose markdowns on commercial real estate holdings as the industry grapples with higher interest rates. Solomon told CNBC's Sara Eisen the New York-based firm will post impairments on loans and equity investments tied to commercial real estate in the second quarter. "There's no question that the real estate market, and in particular commercial real estate, has come under pressure," he said in an interview on CNBC's "Squawk on the Street." Goldman posted almost $400 million in first-quarter impairments on real estate loans, according to Solomon.

Persons: David Solomon, Goldman Sachs, Solomon, CNBC's Sara Eisen, Goldman Organizations: Bloomberg Television, Goldman Sachs Financial Services Locations: New York, York, U.S

☆ Goldman says buying these catch-up candidates is the best way to play its brighter market outlook
▼ + stars: | 2023-06-12 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Goldman Sachs lifted its year-end target on the S & P 500 and sees market laggards playing catch up with this year's leaders. The Wall Street firm boosted its 2023 forecast for the S & P 500 to 4,500, which represents about 5% upside from current levels and is a 12.5% increase from Goldman's previous target of 4,000. Signs of such a shift have recently emerged as cyclical stocks have outperformed their defensive counterparts lately, but plenty of cyclicals have missed out, Goldman said. To find opportunities among the laggards, Goldman screened the Russell 3000 Index, looking for cyclical stocks with market caps greater than $2 billion. It found a list of names with valuations below the S & P 500 and improving fundamentals, demonstrated by improved 2024 earnings revisions.

Persons: Goldman Sachs, Goldman, David Kostin Organizations: Fed, Equity Investment, CNO Financial, Everest Re, RenaissanceRe Holdings Locations: Cleveland

☆ America has lost half its public companies since the 1990s. Here’s why
▼ + stars: | 2023-06-09 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Why it matters: The count of publicly listed companies traded on US exchanges has fallen substantially from its peak in 1996. It’s not that America has half as many companies as 30 years ago – it’s that companies are increasingly staying private, largely outside the scrutiny of the public eye. Publicly listed companies are subject to regulatory oversight and disclosure requirements, which help ensure transparency and maintain investor confidence. “I think it’s natural that companies would delay going public when valuations get halved and investors are not enthusiastic about investing in new companies,” said Kennedy. Some private equity funds have even taken advantage of the bear market to buy up publicly traded companies.

Persons: Matthew Kennedy, “, ”, Kennedy, Torsten Slok, Janet Yellen, Matt Egan, Yellen, Antony Blinken, Elon Musk, Laxman Narasimhan, Jamie Dimon Organizations: CNN Business, Bell, New York CNN, Center for Research, Renaissance, Apple, Microsoft, Party, Apollo Global Management, “ Companies, Wells, China, CNN, China Business Council, FedEx, Pepsi, Walmart, Ford, JPMorgan Chase, America ., Marshall Locations: New York, America, Wells Fargo, United States, China, Washington, Beijing

☆ Brookfield buys payments firm Network International for $2.76 bln
▼ + stars: | 2023-06-09 | by ( ) www.reuters.com time to read: +2 min

June 9 (Reuters) - Canada's Brookfield Asset Management (BAM.TO) said on Friday it would buy payments provider Network International (NETW.L) for 2.2 billion pounds ($2.76 billion) in cash, as it expands its payments business in the Middle East and Africa. The Canadian firm said Network directors intended to unanimously recommend that shareholders vote in favour of the deal. Brookfield, which has over $5 billion in assets under management in the Middle East, last year bought a 60% stake in Magnati, the payments business of First Abu Dhabi Bank (FAB.AD). The investment firm said the deal would be financed by a combination of equity investment, as part of which Brookfield Business Partners expects to invest up to about $150 million. Network International, whose top investors include Capital Research and Mastercard UK, listed in London in April 2019 at an initial public offering price of 435 pence a share.

Persons: Brookfield, Aby Jose Koilparambil, Eva Mathews, Nivedita Bhattacharjee, Jason Neely Organizations: Brookfield Asset Management, Network, United, Capital, Francisco Partners, Brookfield, Abu Dhabi Bank, Brookfield Business Partners, Network International, Capital Research, Mastercard, Thomson Locations: Brookfield, East, Africa, United Arab Emirates, Magnati, London, Bengaluru

☆ Foreign investors have been dumping vast amounts of Chinese assets, and putting money there will only get riskier
▼ + stars: | 2023-06-08 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Foreign investors have been selling Chinese securities for the last two years, the Atlantic Council said. "Putting money in China is going to become riskier, and de-risking is only going to become more commonplace." Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox. Separate reports have also shown that foreign investors are selling Chinese stocks at a faster pace. Mark acknowledged Chinese efforts to bring back some overseas investment, but foreign capital flows are set to keep declining, especially with new US restrictions on the horizon.

Persons: Xi, —, Jeremy Mark, Mark, bode, Biden Organizations: Atlantic Council, Service, Geoeconomics, IMF Locations: China, New York, Hong Kong, India

☆ How to land a job with Blackstone, Apollo, KRR, and other private equity titans
▼ + stars: | 2023-06-06 | by ( Kaja Whitehouse | ) www.businessinsider.com time to read: +6 min

Private equity is often seen as the Holy Grail of finance jobs — but breaking in can be challenging. We also have data on private equity pay and the industry's top recruiters. Here is what we found about pay at private equity firms, including Blackstone, Apollo, and Bain Capital. Private equity recruiting has been starting earlier than ever Getty ImagesPrivate equity firms like to recruit young talent from investment banks. These days, the private equity recruiting process has started earlier than ever, resulting in middle-of-the-night interviews with offers being made — and blown up — all before Labor Day.

Persons: —, bymuratdeniz, Blackstone, Samantha Lee, Drew Angerer, Skye Gould, Jon Gray, Grace Koo, Read, Carlyle, Alex Crisses, Thoma Bravo, Warburg Pincus, Wharton's, Axel Springer Organizations: Blackstone, KKR, Service, Apax Partners, Oaktree, of Foreign Labor, Apollo, Bain Capital, Labor, General Atlantic, PJT Partners, Partners, dealmakers, Wall, University of Michigan Locations: Carlyle, Blackstone, Axel

☆ A pledge to fight climate change is sending money to strange places
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +10 min

That failure has helped keep climate finance at the top of the agenda at annual U.N. climate conferences, such as last year’s COP27, held in Sharm el-Sheikh, Egypt. Some officials from potential recipient countries say that, before more money starts to flow, clearer definitions of what qualifies as climate finance and more transparency in reporting contributions are needed. A SIMEST official said that the agency’s work is not focused on climate change and that it is not involved in Italy's climate finance reporting. Source: Reuters analysis of climate finance data nations reported to the U.N. Japan’s foreign ministry, not JICA, is responsible for reporting climate finance to the U.N., Takeda said.

Persons: COP27, Matthew Samuda, Venchi, hasn’t, Fred Béliard, Nicolas Fierens Gevaert, Mohammad Hossain, Sachiko Takeda, Takeda, Hiroshi Onuma, Matarbari, “, ” Organizations: Jamaica's Ministry of Economic, Reuters, Italy's Ministry of Environment and Energy Security, United, Marriott, Fatima Group, U.S . State Department, Roja, French Development Agency, U.S, Power Cell, Japan International Cooperation Agency, Japan’s Ministry of Foreign Affairs Locations: Paris, Sharm el, Sheikh, Egypt, Dubai, Jamaica's, Japan, China, Indonesia, Asia, SIMEST, Italy, United States, Haitien, Haiti, Marriott, U.S, Belgium, Argentina, France, Mexico, Kenya, South Africa, Bangladesh, San Francisco, Germany, “ Japan

☆ TripAdvisor rival GetYourGuide nears $2 billion valuation as it raises fresh funds to invest in A.I.
▼ + stars: | 2023-06-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

The Berlin-based company said Thursday it had raised the funding through a mix of equity and debt, with $85 million of equity investment being led by U.S. asset management firm Blue Pool Capital. The investment values the company at nearly $2 billion, up from GetYourGuide's last publicly-disclosed valuation of $1.4 billion, according to a person familiar with the matter. Total investment in GetYourGuide, including both equity and debt, now stands at just over $1 billion. Rather than advertise hotels, flights and other forms of transportation, GetYourGuide sells its users experiences and things to do in unexplored places. These experiences are offered through third-party suppliers on its platform, with GetYourGuide taking a commission on each booking.

Persons: UniCredit, Johannes Reck, GetYourGuide, Reck, didn't Organizations: U.S, Blue Pool Capital, GetYourGuide's, KKR, Temasek, BNP, Citibank, KfW, GetYourGuide, CNBC, omicron Locations: U.S, Berlin, GetYourGuide

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