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☆ Selena Gomez is a billionaire
▼ + stars: | 2024-09-06 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Selena Gomez can now add becoming a billionaire to her long list of achievements. The 32-year-old actress, singer, investor and entrepreneur just achieved the financial milestone thus making her one of the youngest self-made billionaires in the United States, according to Bloomberg, which values her net worth at $1.3 billion. But her following has also helped her Rare Beauty line, putting her in the celebrity-led category of makeup brands dominated by Rihanna and the Kardashians. Gomez also has reportedly reached out to investors for Rare Beauty, seeking a $2 billion valuation. Gomez’s representative didn’t immediately respond to CNN’s request for comment.

Persons: New York CNN — Selena Gomez, influencers, Instagram, Cristiano Ronaldo, Lionel Messi, Gomez, didn’t Organizations: New, New York CNN, Bloomberg, Puma, Rihanna, Rare, Fund, Hulu Locations: New York, United States

☆ Diverse donors race to help elect Kamala Harris
▼ + stars: | 2024-07-24 | by ( Fredreka Schouten | ) edition.cnn.com time to read: +6 min

And Democratic-aligned donors from all those worlds are eager to help Harris get there. That figure marks the year of the sorority’s founding at Harris’ alma mater, Howard University. More than 1.1 million donors have contributed – with 62% of them first-time givers this cycle, Harris’ campaign said. He said he held his first fundraiser for Harris at his Boston-area home during her successful 2016 Senate campaign. But for all the early enthusiasm, the groups supporting Harris say big challenges remain – both in sustaining her campaign’s early financial momentum and in helping blunt looming attacks on her race and gender.

Persons: CNN — Kamala Harris, Joe Biden, Harris –, –, Harris, “, ”, Glynda Carr, Carr, Biden, they’ve, Harris ’, Alexandra Acker, Lyons, Biden’s, Acker, ‘, ’ ”, Ramesh Kapur, Democratic bundler, Kapur, “ I’m, Shekar, He’s, he’s, don’t, ” Narasimhan, Trump, Chintan Patel, Patel, ” Harris “, ’ ” Acker, Veronica Stracqualursi Organizations: CNN, American, Higher, Alpha Kappa Alpha Sorority, Inc, Howard University, Women Alliance, Democratic, Senate, Fund, Democratic Party, Republican Party Locations: Higher Heights, America, alma, Manhattan, Denver, Harris, United States, Indian, American, Boston, Virginia, Michigan, Wisconsin, “

☆ This cement startup says it goes beyond net zero to true zero carbon emissions
▼ + stars: | 2024-07-10 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

"By decomposing minerals at ambient temperature using electrochemistry, it actually allows us to use minerals that contain calcium for cement that aren't limestone, and that's what makes us true zero as opposed to net zero," Ellis explained. Its One Boston Wharf Road will be the largest net zero office building in the city, with Sublime cement in the ground floor public space. Its venture capital backers are Lower Carbon Capital, Engine Ventures, Energy Impact Partners, Prime Impact Fund, Siam Cement Group and MCJ Collective. For perspective, about 90 million tons of cement are produced in the U.S. per year. "This is a first-of-a kind process, and we're competing with a technologies that have been scaled to a million tons per year plus for, you know, decades.

Persons: Leah Ellis, Ellis, they'll, Yanni Tsipis, Lisa Rizzolo Organizations: Systems, Sublime Systems, WS Development, Sublime, U.S . Department of Energy, Carbon, Engine Ventures, Energy Impact Partners, Impact Fund, Siam Cement Group, MCJ, CNBC Locations: Fortera, Massachusetts, Boston, Portland, U.S

☆ How will former President Trump's guilty verdict impact fundraising?
▼ + stars: | 2024-05-30 | 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 EmailHow will former President Trump's guilty verdict impact fundraising? CNBC's Brian Schwartz talks the impact of Trump's guilty verdict on fundraising for both republicans and democrats.

Persons: Trump's, Brian Schwartz

☆ Intuit QuickBooks' new $10,000 grant program could scale your business. Here's how to apply.
▼ + stars: | 2024-05-29 | by ( Sponsor Post | ) www.businessinsider.com time to read: +6 min

This Small Business Month, Intuit QuickBooks is launching a grant program to help small business owners grow their businesses. From the end of December to the end of March, small business employment declined by 0.44%, according to the latest release from the Intuit QuickBooks Small Business Index. The Intuit QuickBooks Grant Program, designed to help small business owners across the US run and grow their businesses, will award 20 small business owners with $10,000 and three months of business coaching. AdvertisementThe Intuit QuickBooks Grant Program will launch May 28, 2024, and applications will be accepted until 11:59pm PT on June 30. Click here to learn more about the Intuit QuickBooks Grant Program and how your small business can apply.

Persons: Emma Rodgers Organizations: Intuit QuickBooks, US Small Business Administration, Intuit, Marketing, Revenue, www.QuickBooks.com, Insider Studios Locations: Intuit's, QuickBooks

☆ Selena Gomez says success of 'mission-driven' Rare Beauty makeup brand 'makes me happy every night when I go to sleep'
▼ + stars: | 2024-04-26 | by ( Nicolas Vega | ) www.cnbc.com time to read: +2 min

Selena Gomez has had success on screen, in music and in business, but its her efforts to de-stigmatize mental illness that the 31-year-old is most proud of. The "Only Murders in the Building" star said at the 2024 TIME 100 Summit this week that her Rare Beauty makeup company brings her joy not because of its popularity, but because it allows her to give back. I'm so proud of the fact that we're actually doing things, changing things, having conversations, getting people to talk about the right things." Bloomberg reported last month that Gomez is considering offers for a possible $2 billion sale of Rare Beauty, though she "expects to remain involved with the business" even after a sale. Plus, sign up for CNBC Make It's newsletter to get tips and tricks for success at work, with money and in life.

Persons: Selena Gomez, we've, It's, we're, Gomez Organizations: Fund, of Fashion . Bloomberg, CNBC

☆ One chart shows just how much women's college basketball ratings have soared while men's have dipped
▼ + stars: | 2024-04-17 | by ( Cork Gaines | Andy Kiersz | ) www.businessinsider.com time to read: +7 min

Viewership for the women's NCAA basketball championship surpassed the men's final for the first time. Over the next three years, the TV audience for the women's final grew by 23% to an average of 3.7 million. Women's basketball popularity goes beyond championship game ratingsWe have seen other evidence of women's college basketball's emerging dominance in the sports landscape. Meanwhile, merchandise sales related to women's college basketball are also soaring. JuJu Watkins celebrates with USC fans following a win during the 2024 NCAA Women's Basketball Tournament.

Persons: —, Nielsen, Caitlin Clark —, Angel Reese, Dawn Staley, Clark, University of Connecticut's Paige Bueckers, Juju Watkins, James, LeBron James, JuJu Watkins, Wally Skalij, Darren Rovell, Bruce B, Greenspoon Marder, you've, Siegal Organizations: NCAA, WNBA, Service, University of Iowa, University of South Carolina, Purdue University, University of Connecticut, Nielsen, Sports Media Watch, Louisiana State, University of South, Business, Nike, University of, University of Southern, USC, Indiana Fever, Impact, Vanderbilt University Locations: Louisiana, University of South Carolina, University of Southern California

☆ What to expect from bank earnings as high interest rates pressure smaller players
▼ + stars: | 2024-04-11 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., February 7, 2024. Ever since the chaos of last year's regional banking crisis that consumed three institutions, larger banks have mostly fared better than smaller ones. That trend is set to continue, especially as expectations for the magnitude of Federal Reserve interest rates cuts have fallen sharply since the start of the year. On Monday, M&T Bank posts results, one of the first regional lenders to report this period. The focus for all of them will be how the shifting view on interest rates will impact funding costs and holdings of commercial real estate loans.

Persons: JPMorgan Chase, Goldman Sachs, there's, Christopher McGratty Organizations: New York Stock Exchange, JPMorgan, Bank of America, T Bank Locations: New York City, U.S, KBW

☆ The men's college basketball Final Four teams earn $19.3 million in revenue. The women's teams earn 27% of that.
▼ + stars: | 2024-04-06 | by ( Cork Gaines | ) www.businessinsider.com time to read: +6 min

Women's college basketball popularity is up, but their revenue still lags behind the men's teams. AdvertisementMany women's college basketball teams are setting records for attendance and could see a subsequent revenue boost from ticket, merchandise, and concession sales. Meanwhile, the NCAA sold the television rights to the men's basketball championship separately from the other sports. The deal for men's college basketball is worth more than $1.1 billion annually and also goes through 2032. AdvertisementThose watching for the disparity in revenue between the women's and men's college basketball teams to narrow may have to be patient.

Persons: —, University of Iowa's Caitlin Clark, Angel Reese, JuJu Watkins, University of Connecticut's Paige Bueckers, Nielsen, What's, Darron Cummings, Bruce B, Siegel, Greenspoon Marder, Caitlin Clarks, Reeses, Paige Bueckers, Steph Chambers Organizations: Service, NCAA Division, US Department of Education, NCAA, University of Connecticut, North, North Carolina State, South Carolina State University, North Carolina State University, University of Alabama, Purdue University —, Carolina State University —, University of South, University of South Carolina —, of Connecticut, Iowa State, University of Iowa's, University of Southern, University of, LSU, ESPN, North Carolina State's, Duke, Elite, LSU's, Iowa Hawkeyes, AP, Impact, Vanderbilt University, Hawkeyes, Associated Press Locations: North Carolina, South, University of South Carolina, Louisiana, North

☆ Autism Impact Fund co-founder: Want to be at the forefront of innovation across the entire spectrum
▼ + stars: | 2024-04-02 | 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 EmailAutism Impact Fund co-founder: Want to be at the forefront of innovation across the entire spectrumChristopher Male, Autism Impact Fund co-founder, joins 'Squawk Box' on World Autism Awareness Day to discuss how the fund is investing in companies developing diagnostics, treatments and support for people with autism.

Persons: Christopher Male Organizations: Autism, Fund, Autism Impact Fund

☆ Rising temperatures and floods leave cities with hefty bills. Startups are working to help them adapt to climate risks.
▼ + stars: | 2024-03-26 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +10 min

All of this has given rise to climate adaptation, a sector that aims to mitigate against and adapt to the risks associated with climate change. For James Brennan and Navjit Sagoo, two of the scientists behind climate risk analytics startup Climate X, it is imperative that adaption efforts go hand in hand with those working to curb rising temperatures. Indeed, Bank of America analysts predicted the climate adaptation industry would be worth $2 trillion a year by 2026. Climate X made its calculations based on the UN's Intergovernmental Panel on Climate Change's RCP8.5 scenario, which has been deemed to be a "very high" baseline for emissions. Mike Segar/ReutersAll hands on deckThe need for climate adaptation is clear but often overlooked until an extreme weather event occurs, according to Landesman and Chaudhury.

Persons: —, James Brennan, Navjit Sagoo, Abrar Chaudhury, Autarc, Bill Gates, Tucker Landesman, Helge Jørgensen, Mike Segar, Brennan, Sagoo Organizations: Service, Business, Bank of America, Climate, X, Deloitte, University of Oxford's, Business School, New York Times, New, London, Fabian Society, Tech, Breakthrough Energy Ventures, Goldman Sachs, Management, Air, International Institute for Environment, Development Locations: London, New York City, New York, California, Autarc , Massachusetts, Medellin, Colombia, Europe, PitchBook, Mamaroneck, Westchester County , New York, U.S

☆ Read the pitch deck that helped Latino-focused fintech platform Suma raise $2.2 million to teach money management through videos and gaming
▼ + stars: | 2024-02-06 | by ( Lucia Moses | ) www.businessinsider.com time to read: +2 min

Suma Wealth, a 3-year-old fintech company that combines culturally relevant content and experiences with financial tools to help Latinos build wealth, raised $2.2 million in new funding. Leading the round was Radicle Impact, which was joined by Vamos Ventures, OVO fund, and the American Heart Association Impact fund. She got the idea for Suma during the pandemic when she saw its disproportionate impact on Latinos, Acevedo told TechCrunch. Along with closing the seed round, Suma announced that it had passed 1 million users on its platforms and acquired Intellecto, a platform designed to personalize users' learning experiences. Check out the pitch deck that Suma used to raise its most recent funding.

Persons: Suma, Beatriz Acevedo, Acevedo, they've, Wells Organizations: Vamos Ventures, American Heart Association, Ulu Ventures, Fund, Chingona Ventures, Business, FDIC, Suma, JPMorgan Chase, TechCrunch Locations: Wells Fargo

☆ VCs need to return cash to their investors. The secondary market is coming alive as a result.
▼ + stars: | 2024-02-02 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +5 min

Venture capitalists need to free up cash and return money to their own investors, known as limited partners (LPs). The secondary share sales market in the US is well established. Bad timingMost VC funds agree to return their profits to their LPs within 10 years. A record 31 secondary funds headquartered in Europe were established in 2021, amid the hype period, with $29 billion in assets under management per PitchBook. It all comes down to how buoyant the VC market is: "If the market is good again, then who's going to sell secondary?

Persons: There's, Michael Smith, Regeneration's Smith, Kelly Rodriques, Hussein Kanji, Kanji, Hussein, Tom Henrikkson, OpeanOcean, it's, Henrikkson Organizations: Venture, Business, Industry Ventures, Cherry Ventures, Ventures, Albion, Forge, Financial Times, VC, Hoxton Ventures, Sequoia Locations: Silicon Valley, Europe, San Francisco, Amsterdam, London

☆ Apollo Global’s CSO Talks About Knitting Sustainability Into the Culture
▼ + stars: | 2023-11-29 | by ( Rochelle Toplensky | ) www.wsj.com time to read: +9 min

A sustainability veteran with more than 24 years’ experience, Stangis has built sustainability teams at both Intel and Campbell Soup . WSJ Pro: Do you have a favorite sustainable product or service, that isn’t an Apollo company? In terms of our regulatory reporting, we made some great progress, but it’s also helping and building the tools for our portfolio companies. Stangis: We’ve got data from all of our portfolio companies from surveys of 100-plus questions every year. So our portfolio companies, they’re literally doing sustainability reporting to us, we’re compiling it and then making that public.

Persons: Dave Stangis, Stangis, Campbell, it’s, we’ve, I’ve, —, We’ve, they’re, we’re, Rochelle Toplensky Organizations: Apollo Global Management, Intel, Pro, Business, Campbell Soup Company, WSJ, Private Equity, Flagship Fund, Apollo, Rochelle, rochelle.toplensky@wsj.com Locations: Europe, Asia, Paris, Detroit, U.S, Russia, Ukraine, decarbonize, we’ve

☆ There's a wave of pre-IPO startups with pandemic-era price tags stuck in limbo right now
▼ + stars: | 2023-11-21 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

There is a wave of pandemic-era startups stuck in limbo right now. The days of seeing 80% to 100% year-on-year revenue growth are gone, Hussein Kanji from early-stage fund Hoxton Ventures told Business Insider. Hoxton Ventures' Hussein Kanji said the days of companies racking up 100% year-on-year revenue growth are over. Investors tend to assess whether a company is IPO-ready on the rule of 40, which is revenue growth plus EBIT margin. Kanji added: "This is a lesson for a lot of people – if the IPO window opens up, take the company public."

Persons: they're, James Ulan, Klarna, Ulan, Karna's, Hussein Kanji, Morgan Stanley, Kanji, Kamil Mieczakowski, Fabian Heilemann, Graphcore Organizations: Business, Hoxton Ventures, Hoxton, Nvidia, Sequoia Locations: Ulan

☆ Maybe, finally, Musk won't get away with it after calling an antisemitic post 'the actual truth'
▼ + stars: | 2023-11-17 | by ( Shona Ghosh | ) www.businessinsider.com time to read: +7 min

"You have said the actual truth," Musk told a user who criticized "western Jewish populations." On Wednesday, Musk responded to an antisemitic post by a verified X user, @breakingbaht, with the words "You have said the actual truth." Why dont you say it to our faces… pic.twitter.com/WGkwTrXyTF — Charles Weber (@CWBOCA) November 15, 2023Another X user, @breakingbaht, replied to this post: "Okay. The ADL unjustly attacks the majority of the West, despite the majority of the West supporting the Jewish people and Israel. Commenting directly on the Musk exchange, ADL CEO Jonathan Greenblatt wrote on X that it was "indisputably dangerous" for influential people "to validate and promote antisemitic theories."

Persons: Elon Musk, Musk, Rich, he's, —, Charles Weber, Hitler, WGkwTrXyTF — Charles Weber, I'm, Elon, — Elon, Ben Gidley, Gidley, It's, " Gidley, Jonathan Greenblatt, Dustin Moskovitz, Muskovitz, Ross Gerber, Kristin Hull, Hull Organizations: Service, NFL, Foundation, Combat, Defamation League, ADL, Birkbeck , University of London, Facebook, Bloomberg, IBM Locations: Israel, Gaza

☆ Tesla investors and business leaders slam Elon Musk for endorsing an antisemitic post
▼ + stars: | 2023-11-17 | by ( Madeline Berg | ) www.businessinsider.com time to read: +5 min

Elon Musk is facing backlash from business leaders after he appeared to endorse an antisemitic conspiracy theory. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementElon Musk is facing backlash from the business community after he appeared to endorse an antisemitic post on X. AdvertisementAnother Tesla bull, Gary Black, whose Future Fund invests in Tesla, similarly reported that clients had reached out to him regarding Musk's comments. While the backlash escalates, Musk's chosen X CEO Linda Yaccarino is left to clean up the growing mess.

Persons: Elon Musk, —, Elon, Musk, Musk's, Dustin Moskowitz, Marc Bodnick, Andrew Left, Tesla, Ross Gerber, I've, Gary Black, Kristin Hull, Nia, demote, Bravo —, Linda Yaccarino Organizations: IBM, Service, Buffalo, Elon, SpaceX, BMW, CNBC, EV, Tesla, Nia Impact, Employees, Media, Apple, Oracle Locations: Pittsburgh

[1/3] Former Goldman Sachs CEO Lloyd Blankfein and Goldman Sachs chairman and CEO David Solomon speak together during Goldman Sachs analyst impact fund competition at Goldman Sachs Headquarters in New York City, U.S., November 14, 2023. REUTERS/Brendan McDermid Acquire Licensing RightsCompanies Goldman Sachs Group Inc FollowNEW YORK, Nov 14 (Reuters) - Goldman Sachs (GS.N) Chief Executive Officer David Solomon and his predecessor gave career advice to about 4,000 analysts as junior bankers pitched for grants to be given to charity on Tuesday. Solomon interviewed former CEO Lloyd Blankfein, who handed over the reins in 2018, for an audience of junior employees and senior partners that drew laughter and smiles in the auditorium at its New York headquarters. Goldman partners awarded the $250,000 first-place prize to TalkingPoints, an education nonprofit, after a successful pitch from four analysts from its London office. Solomon and Blankfein addressed the junior employees a day after they attended a dinner for retired partners in New York.

Persons: Goldman Sachs, Lloyd Blankfein, David Solomon, Brendan McDermid, Solomon, Winston, Blankfein, underused, Dan Dees, Goldman, Saeed Azhar, Lananh Nguyen, Matthew Lewis Organizations: Goldman, REUTERS, Goldman Sachs, CNBC, Thomson Locations: New York City, U.S, New York, London

☆ Here's what Britain's venture capital limited partners are backing: men
▼ + stars: | 2023-11-07 | by ( Tasmin Lockwood | Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

The institutional investors plying Britain's venture capital sector with cash have a penchant for backing funds owned entirely by men. All-male-owned firms raised 10 times more capital than funds owned by their female counterparts between 2017 and 2023, according to a report by impact fund Ada Ventures. A similar disparity was found among mixed-gender funds, which raised almost five times less than the male-owned funds. Those firms raised around 6.6 billion pounds during that period. Venture capital's diversity issues are well documented but there has been a slew of women leaving the industry this year.

Persons: VCs, Ekaterina Alamasque, Warner, Alamasque Organizations: Ada Ventures, Diversity, Google, Venture, Partners, Women

☆ KKR raises $2.8 billion for second global impact fund
▼ + stars: | 2023-11-05 | by ( Greg Roumeliotis | ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNEW YORK, Nov 5 (Reuters) - Private equity firm KKR & Co Inc (KKR.N) has completed the raise of its second global impact fund dedicated to investments that advance sustainability and social equity, amassing $2.8 billion. To fall within the impact fund's scope, investments must advance one or more of the United Nations 17 sustainable development goals in a measurable way. The impact fund can invest in companies alongside KKR's other private equity funds, though in the majority of its investments it is the sole KKR fund participating. KKR's global impact team, which has grown from four people when it launched in 2018 to more than 20, so far has made 18 investments. "We target middle-market private equity returns in line with our other businesses," Antablin said.

Persons: Brendan McDermid, Ken Mehlman, Robert Antablin, Mehlman, Antablin, Greg Roumeliotis, Will Dunham Organizations: KKR, New York Stock Exchange, REUTERS, Co Inc, Reuters, United Nations, Systems, Alliance, Thomson Locations: New York, U.S, India

Oct 30 (Reuters) - 3D metal-printing startup Seurat Technologies on Monday hinted at potentially going public in the medium-term and said it had raised $99 million in a funding round co-led by chip designer Nvidia's (NVDA.O) venture capital arm. With the latest series C funding round, the company's valuation will approach $350 million, said a source who asked not to be named. The fundraise, co-led by Nvidia's NVentures and Capricorn's Technology Impact Fund, brought in new investors Honda Motor (7267.T) and Cubit Capital. Existing backers including Porsche and venture capital units of Xerox Holdings (XRX.O) and General Motors Co (GM.N) also participated. "Seurat's local factory deployment model provides the industry with a solution to near-shore manufacturing and to increase the resiliency of supply chains," said existing investor Porsche Automobil Holding's (PSHG_p.DE) board member Lutz Meschke.

Persons: Seurat, James DeMuth, Nvidia's NVentures, Porsche Automobil, Lutz Meschke, Akash Sriram, Devika Organizations: Technologies, Reuters, Technology, Honda Motor, Cubit, Porsche, Xerox Holdings, General Motors Co, Siemens Energy's, Thomson Locations: China, Massachusetts, Bengaluru

☆ The moving tribute hidden in Selena Gomez’s floral gown
▼ + stars: | 2023-10-06 | by ( Taylor Nicioli | ) edition.cnn.com time to read: +4 min

CNN —Selena Gomez was in full bloom at her inaugural Rare Impact Fund Benefit on Wednesday, wearing a hand-embroidered purple dress from designer Rahul Mishra. “It is an issue that has become very close to my heart,” Gomez said in a CNN article for World Mental Health Day in 2020. Kristy Sparow/Getty ImagesAnother floral look from Mishra's collection also featured large-scale, sculptural petals and intricate, metallic embroidery. Kristy Sparow/Getty ImagesModels walk during the finale of Mishra's show. Kristy Sparow/Getty ImagesMishra’s Instagram post included photographs of the dress in various stages from concept to completion, as well as a video displaying close-ups of the intricate embellishments.

Persons: CNN — Selena Gomez, Rahul Mishra, Gomez, Valentino, Kevin Winter, ” Gomez, “, Iris ”, Munir Ahmed, Rahul Mishra's, Kristy Sparow, Mishra, Ahmed, ” Mishra, Mishra’s, ” Organizations: CNN, Fund, Mental, Couture, Haute Couture, Vogue Locations: Los Angeles, Paris, Couture, France

Deaths have outpaced births in Japan for more than a decade, posing a growing problem for leaders of the world’s third-largest economy. The country also has one of the highest life expectancies in the world, contributing to the ballooning elderly population. To some extent, that messaging has worked: there are now a record 9.12 million elderly workers in Japan, a number that has grown for 19 consecutive years. Workers age 65 and up now make up more than 13% of the national workforce, the internal affairs ministry said Monday. Japan’s elderly employment rate is among the highest across major economies, it added.

Persons: Fumio Organizations: Tokyo CNN, Ministry of Internal Affairs and Communications, Workers Locations: Japan, China, South Korea, Singapore, Taiwan

☆ Battery firm Redwood Materials raises over $1 bln to expand US ops
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +1 min

Aug 29 (Reuters) - Redwood Materials said on Tuesday it had raised more than $1 billion in new funding as the battery materials firm, founded by former Tesla (TSLA.O) executive JB Straubel, seeks to expand its operations in the United States. The company in February received a conditional commitment for a $2 billion loan from the U.S. Energy Department to build a $3.5-billion recycling and re-manufacturing complex in Nevada for electric-vehicle battery materials. The latest funding round for Redwood, founded in 2017 by Straubel, was co-led by Goldman Sachs Asset Management, Capricorn's Technology Impact Fund and funds advised by T. Rowe Price Associates. "We will use our Series D funding to continue building our capacity, expanding the domestic battery supply chain and allowing our customers to purchase battery materials made in the US," Redwood said. The Carson City, Nevada-based company has a long-term partnership with Panasonic (6752.T), which builds battery cells in Nevada in a joint venture with Tesla, for providing battery materials.

Persons: Tesla, JB Straubel, Straubel, Rowe Price, Redwood, Nathan Gomes, Vinay Dwivedi Organizations: Redwood Materials, U.S . Energy Department, Redwood, Goldman Sachs Asset Management, Technology, Fund, Rowe Price Associates, Panasonic, Tesla, Thomson Locations: United States, Nevada, Carson City , Nevada, Bengaluru

☆ Redwood Materials, run by ex-Tesla CTO, raises $1 billion to expand recycling operations in U.S.
▼ + stars: | 2023-08-29 | by ( Lora Kolodny | ) www.cnbc.com time to read: +3 min

Redwood Materials, the battery and e-waste recycling startup founded by former Tesla CTO JB Straubel, announced Tuesday that it has closed a $1 billion funding round to expand operations in the U.S. The company takes spent electric vehicle batteries, breaks them down, and uses the metals from them —including nickel, copper, cobalt, and lithium — to produce new components that can go into electric vehicle batteries. One of Redwood's major goals is to produce battery components domestically to reduce some of the global trade and geopolitical risks around the electric vehicle industry. As CNBC previously reported, earlier this year Redwood locked in a $2 billion loan commitment from the Department of Energy. For its new growth funding round, Goldman Sachs Asset Management, Capricorn's Technology Impact Fund, and other un-named funds advised by T. Rowe Price Associates led the deal, according to a company statement.

Persons: JB Straubel, Redwood, Straubel, Energy Jennifer M, Granholm, Goldman, Rowe Price Organizations: Materials, U.S, CNBC, Department of Energy, Energy, Energy Information Administration, Argonne National Laboratory, Asset Management, Technology, Fund, Rowe Price Associates, Caterpillar Inc, Innovation Fund Locations: U.S, Carson City , Nevada, Charleston , South Carolina . U.S, Argonne

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