DIRS.INFO The most relevant business & tech news

☆ Investors are pumping money into the Trump trade. Here's how it did last time
▼ + stars: | 2024-11-13 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

Wall Street has been pumping money into the Trump trade, but investors should be wary before committing capital based on campaign promises, if history is any indication. From Election Day 2016 through year-end, the asset class outperformed the S & P 500 by 8% on a relative basis. In fact, from Election Day 2016 through Election Day 2020, smallcaps tumbled more than 22%. Expand the timeline to one year out from Election Day, and the ETF underperformed the broader index by 11%. Energy Energy stocks are expected to get a huge boost from Trump, who made energy a focus of his presidential campaign , and promised to "drill, baby, drill."

Persons: Trump, Donald Trump's, elect's, Russell, Biden, Wells, Austin Pickle, —, smallcaps, that's, Fred Imbert Organizations: Bank, Regional Banking, Wells, Investment Institute, Trump, Wells Fargo Investment Institute, Dow Jones, . Energy Energy, Energy Locations: Wells Fargo, that's year's

☆ Private equity can now invest in NFL teams. Here's what it could mean for the league
▼ + stars: | 2024-11-13 | by ( Christian Nunley | ) www.cnbc.com time to read: +1 min

The National Football League is now accepting investment from private equity firms. The process was a long time in the making, after peer leagues like Major League Baseball and the National Basketball Association began doing so starting in 2019. In recent years valuations of professional football teams have skyrocketed, boosted in part by soaring media rights packages. The average NFL franchise is valued at $6.5 billion, according to CNBC's Official NFL Valuations, while the NBA's average franchise is worth about $4.4 billion, according to Forbes. Watch the video above to learn more about how the NFL's new guidelines for private equity will work and how they may affect the league moving forward.

Persons: we've, Clark Hunt, Forbes, Sportscorp, Marc Ganis Organizations: National Football League, Major League Baseball, National Basketball Association, Kansas City Chiefs, NFL, NBA

☆ Italian city Florence bans key boxes and tour guide loudspeakers to tackle overtourism
▼ + stars: | 2024-11-13 | by ( Barbie Latza Nadeau | ) edition.cnn.com time to read: +4 min

Rome CNN —The historic Italian city of Florence is taking steps to cut overtourism, introducing measures including a ban on key boxes used by short-term rental landlords and tour guide loudspeakers, amid complaints that a surge in visitors has become unsustainable. The decree also bans the use of amplifiers and loudspeakers for tour guides. Tourists behaving badlyAuthorities in Florence say the city has attracted 7.8 million visitors so far in 2024. It says more than 7.8 million people have visited Florence in the first nine months of 2024. In January, the head of the Galleria dell’Accademia museum called the city a “prostitute” that had succumbed to overtourism.

Persons: Sarah Funaro, Botticelli, Michelangelo, Giotto, Brunelleschi, Ivan Romano, Florence’s, Florence, Bacchus, ”, ” Cecilie Hollberg, Trevi, Daniela Santanche, “ Organizations: Rome CNN, city’s UNESCO, CNN, Italy’s Locations: Rome, Italian, Florence, Tuscany, Italy, Venice

☆ VW's $5.8 billion investment in Rivian isn't guaranteed. Here are the milestones the EV maker needs to hit
▼ + stars: | 2024-11-13 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT — Volkswagen Group increased its planned investment for a joint venture with electric vehicle startup Rivian Automotive to $5.8 billion as the companies have broader aspirations than they initially announced for the team-up. Investors were impressed with the details of the deal, sending shares of Rivian up 13% in trading Wednesday. The companies said they expect roughly 1,000 people to work for the joint venture. But VW's capital to Rivian isn't guaranteed, and neither is the success of the deal. The automotive industry has seen a number of major mergers and joint ventures that don't result in long-term successes.

Persons: Rivian, Rivian isn't Organizations: DETROIT — Volkswagen Group, Automotive, Investors, VW Locations: Normal , Illinois, Georgia, Rivian

☆ This fund has outperformed the S&P 500 over the past 5 years. Here's how
▼ + stars: | 2024-11-13 | by ( Pia Singh | In | ) www.cnbc.com time to read: +7 min

Select Quality Equity Fund (GQEPX) is up 33% in 2024, outpacing the S & P 500's 27% year-to-date total return. It has also outperformed 99% of funds in its category over the past five years, per Morningstar. This matches the rest of the firm's fund strategies, GQG portfolio manager Brian Kersmanc told CNBC. "We focus on this concept of forward quality," Kersmanc explained. So they're considered that sort of a blue chip, almost widow-and-orphan stock within the portfolio," Kersmanc said.

Persons: Morningstar, GQEPX, Brian Kersmanc, Eli Lilly, Kersmanc, Rajiv Jain, it's, Philip Morris, —, It's, they're Organizations: GQG Partners, Equity Fund, CNBC, Nvidia, Exxon Mobil, Kersmanc, Exxon Locations: Florida, GQEPX

☆ Ark's Cathie Wood changed Wall Street. Now, she's set her sights on venture capital.
▼ + stars: | 2024-11-13 | by ( Melia Russell | ) www.businessinsider.com time to read: +5 min

Wood's effort to do something similar for venture capital has delivered investments in many of Silicon Valley's hottest deals. SpaceX, founded by Elon Musk, is Ark Venture Fund's largest holding, accounting for 13% of the fund's total assets. SpaceX is Ark Venture Fund's largest holding, accounting for 13% of the fund's total assets, worth around $9 million. OpenAI makes up just 5% of the Ark Venture Fund's portfolio, which means it has less than $4 million invested. AdvertisementArk Venture Fund charges a flat fee for investing assets under its control, the same as a venture fund.

Persons: Cathie Wood, Brett Winton, Wood, Andreessen Horowitz, Jeff Bezos, Elon Musk, David McNew, Winton, it's, Ark, OpenAI, Donald Trump's, Morningstar, that'll Organizations: Ark Venture Fund, Ark, Investors, Ark Invest, Elon, SpaceX, Ark Venture, Epic Games, Venture Fund Locations: Sequoia

☆ 5 areas outside the battlegrounds that show how Trump expanded his coalition: From the Politics Desk
▼ + stars: | 2024-11-12 | by ( The Politics Desk | ) www.nbcnews.com time to read: +10 min

In today’s edition, national political correspondent Steve Kornacki breaks down the blue areas across the country where Donald Trump expanded his coalition. These five jurisdictions help tell the story of where and how Trump expanded his coalition the most dramatically. When Trump ran in 2016, he was crushed in Lawrence, an old mill city on the Merrimack River, by 66 points. Trump transition watchPresident-elect Donald Trump is continuing the process of building out his administration, tapping allies for key posts. DeSantis does not have to listen to Trump, after the two men saw their relationship fray amid DeSantis’ national rise and his failed 2024 presidential campaign.

Persons: Steve Kornacki, Donald Trump, Matt Dixon, Trump's, Sen, Marco Rubio, Trump, Steve Kornacki Donald Trump, Biden, Harris, Loudoun, Democrats ’, Kristi Noem, Noem, Rubio, Mike Huckabee, Mike Waltz, Waltz, Christopher Wray, Wray, Kash Patel, Ron DeSantis, Lara, wouldn’t, Lara Trump, Trump’s, James Uthmeier, Commerce Wilbur Ross, Uthmeier, Read Organizations: NBC, White House, Capitol, Trump, Puerto Ricans, Puerto Rico, GOP, Democrats, Democratic, Republican, South Dakota Gov, Department of Homeland Security, Foreign Relations, Intelligence, Arkansas Gov, Russia, CIA, Trump’s Cabinet, Florida Gov, Senate, State Department, Commerce Locations: Florida, Osceola County , Florida, Orlando, Puerto, Trump’s, Trump’s Puerto Rican, Lawrence , Massachusetts, Massachusetts, Lawrence, Merrimack, Loudoun County , Virginia, Rockland County , New York, New York City, Rockland, America, McKinley County , New Mexico, McKinley, New Mexico, Marco Rubio of Florida, U.S, Israel, China, Ukraine, Matt Dixon TALLAHASSEE, Fla

DeSantis does not have to listen to Trump, after the two men saw their relationship fray amid DeSantis' national rise and his failed 2024 presidential campaign. “I think that pick makes a lot of sense, and would be great for Florida,” said a Trump ally who acknowledged there is interest from Trump world in seeing DeSantis appoint Lara Trump. "I have heard that too," a DeSantis ally said of Lara Trump getting in the mix for the Senate appointment. Two DeSantis advisers told NBC News that it is very unlikely DeSantis would appoint himself, even though the option remains open. “She would avoid a really nasty primary in two years.”“I’m giving her my full backing” she continued of Lara Trump, who is a North Carolina resident.

Persons: Ron DeSantis, Sen, Marco Rubio, Donald Trump, Lara, Rubio, Trump, wouldn't, Lara Trump, ”, DeSantis, “, James Uthmeier, Trump's, Commerce Wilbur Ross, Uthmeier, James, it's, Gov, Jeanette Nunez, General Ashley Moody, Paul Renner, Jose Oliva, Laurel Lee, Susie Wiles, Wiles, Ron, I’ve, Florida Sen, Rick Scott, Marco Rubio’s, Anna Paulina Luna, Benny Johnson, “ I’m Organizations: Florida Gov, Senate, State Department, Trump, Florida Republicans, NBC, Commerce, NBC News, Republican, Florida, Gov Locations: TALLAHASSEE, Fla, Florida, U.S, North Carolina

☆ Prince William wants to put a smaller 'r' in royal. Here's what that means.
▼ + stars: | 2024-11-12 | by ( Hannah Peart | Hannah Peart Is An Intern In The Nbc News London Bureau. | ) www.nbcnews.com time to read: +4 min

LONDON — The "r" in royal will soon exclusively be lowercase — in spirit, at least. William added: “And I’m also going to throw empathy in there as well, because I really care about what I do. But, you know, if you look less royal, then what’s the point of being a royal?” Smith said. He was joined by William and Princess Kate, who has slowly returned to public duties following her treatment for cancer. Queen Camilla missed the occasion after falling ill with a chest infection that forced her to withdraw from public duties.

Persons: Prince William, King Charles III, Princess Diana, ”, Queen Elizabeth II, William, I’m, ” William, Prince, Wales, Daisy McAndrew, “, Graham Smith, Prince Harry’s, Harry, ” Smith, McAndrew, ” McAndrew, Smith, “ It’s, It’s, Charles, Princess Kate, Queen Camilla Organizations: “, Sky News, NBC, Commonwealth Locations: British, South Africa, Cape Town, United States, Britain, Kensington, London, United Kingdom

Three U.S. airlines have suspended flights to Haiti after a Spirit Airlines jet was struck by gunfire. Some see Rubio as one of the “less MAGA” options but is still someone “Trump’s base could trust,” a Trump ally said. Trump’s first Cabinet pick was Rep. Elise Stefanik of New York, to serve as ambassador to the United Nations. Hours later Trump announced his second Cabinet selection, former Rep. Lee Zeldin, to oversee the Environmental Protection Agency. The State Department is advising against travel to Haiti in the midst of violent political turmoil.

Persons: Donald Trump, Trump, Patrick T, Fallon, Donald Trump’s, Sen, Marco Rubio, Rubio, ”, Trump’s, Elise Stefanik, Lee Zeldin, Zeldin, Joe Biden’s, Stephen Miller, Miller, Mike Waltz, Ruben Gallego, Republican Kari Lake, ➡️ Trump, Christopher Wray, ➡️, —, MAGA, “, Kayla Smith, Jillaine St.Michel, Rebecca Vincen, Brown, Julie Lyons, Emily Corrigan, Jennifer Adkins, Richard Allen, Crews, Aaron Rodgers, Peter Guo, Calpak, Elizabeth Robinson Organizations: Spirit Airlines, Getty, United Nations, The, Republican Conference, Trump, Environmental Protection Agency, Trump’s Cabinet, Green Beret, Armed Services, Foreign Affairs, Intelligence, Democratic, Republican, Senate, State Department, JetBlue, New York City, American Airlines, The State Department, Women, Center for Reproductive, East, New York Jets, Riding Army, NBC, Walmart, Casper Locations: U.S, Haiti, AFP, Marco Rubio of Florida, New York, Israel, Gaza, Florida, Afghanistan, East, Africa, He’s, Arizona, Fort Lauderdale , Florida, Port, Prince, Dominican Republic, Miami, Idaho, Portland , Oregon, Ada County, Indiana, Delphi, West, New Jersey, California, China, Kaifeng, Asia

☆ Five new arrests made in Amsterdam over violence that authorities say targeted Israeli soccer fans
▼ + stars: | 2024-11-12 | by ( Freddie Clayton | Freddie Clayton Is A Freelance Journalist Based In London. | ) www.nbcnews.com time to read: +3 min

Five new arrests have been made over the violence surrounding a soccer game last week involving an Israeli team, Dutch police said Monday. The five men are "suspected of public acts of violence against persons Thursday night," police in the Dutch capital Amsterdam said Monday. The violence has been condemned as targeted antisemitic attacks by authorities in Israel and the Netherlands, which authorities said saw small groups on foot and scooters commit hit-and-run assaults on Israeli fans. Another video verified by NBC News showed a brawl break out outside Amsterdam Central Station after the game, in what the photographer described as an attack by Israeli fans on local residents. Israel sent extra planes to bring the soccer fans home from Amsterdam, and has told Israeli fans not to attend cultural or sports events abroad this week.

Persons: Dick Schoof, Schoof, Peter Holla, Israel, Turkey's Organizations: Maccabi Tel, Ajax, Maccabi, NBC News, IDF, Station, Police, Palestinian, ” Police, UEFA, Maccabi Tel Aviv's, Turkey's Besiktas, national, team, France Locations: Amsterdam, Maccabi Tel Aviv, Israel, Netherlands, Hungary, Istanbul, Paris

☆ New Zealand offers national apology to people abused in care
▼ + stars: | 2024-11-12 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +2 min

The apology follows a report by a public inquiry in July that found some 200,000 children and vulnerable adults in state and faith-based care experienced some form of abuse from 1950 to 2019. “Today, I am apologizing on behalf of the government to everyone who suffered abuse, harm and neglect while in care. A bill to include a range of measures to improve safety in state care was to have its first reading in Parliament on Tuesday. The inquiry detailed a litany of abuses in state and faith-based care, including rape, sterilization and the use of electric shocks, which peaked in the 1970s. It also called for new legislation, including mandatory reporting of suspected abuse, including admissions made during religious confession.

Persons: Christopher Luxon, Luxon, of Organizations: Zealand, ”, Royal Commission of, New Zealand Locations: Wellington, “, New Zealand, New, of Canterbury

☆ Singles’ Day shopping festival loses its shine under China’s lagging economy
▼ + stars: | 2024-11-12 | by ( Associated Press | ) www.nbcnews.com time to read: +4 min

HONG KONG — Businesses and consumers in China found the annual Singles’ Day shopping festival less attractive this year due to a sluggish economy, forcing e-commerce firms to look abroad for growth. While Singles’ Day was previously a one-day event, shopping platforms in China now kickstart the festival weeks ahead to drum up sales volume. But amid China’s lagging domestic economy, dragged down by a real estate crisis and deflationary pressures, consumers no longer go all out during the shopping extravaganza. Wang said that the prices offered on e-commerce platforms during Singles’ Day are not necessarily cheaper than usual. “I used to buy a lot two or three years ago and I even purchased a mobile phone (during Singles’ Day),” he said.

Persons: Alibaba, ”, —, “, Wang Haihua, Wang, we’ve, Zhang Jiewei, ” Zhang, Shaun Rein, ” Rein, Gucci, Jacob Cooke, ” Cooke Organizations: HONG KONG —, China Market Research Group Locations: HONG KONG, China, Singapore, Hong Kong, Beijing, Xi’an, Shanghai, “

☆ Scientists warn that a key Atlantic current could collapse, among other climate tipping points
▼ + stars: | 2024-11-12 | by ( Evan Bush | Evan Bush Is A Science Reporter For Nbc News. | ) www.nbcnews.com time to read: +6 min

Among other findings, it warns that several key climate tipping points appear more likely to be reached than previously thought. Ice loss from the Thwaites Glacier, also known as the “Doomsday” glacier because its collapse could precipitate rapid Antarctic ice loss, may be unstoppable. These are just a few of the stark findings from more than 50 leading snow and ice scientists, which are detailed in a new report from the International Cryosphere Climate Initiative. The report highlights a shift in consensus: Scientists once thought tipping points — like the collapse of AMOC — were distant or remote possibilities. Even if they were on track, those commitments are insufficient to reach global climate goals, the authors say.

Persons: it’s, ”, Helen Findlay, “, AMOC, Julie Brigham, We’ve, Sean Gallup, ” Findlay, Mukhtar Babayev, Donald Trump, Trump, Joe Biden, Peter Neff, there’s, ” Neff Organizations: Initiative, Southern Hemisphere, Plymouth Marine Laboratory, Copernicus, ESA, United Nations, University of Massachusetts Amherst, Getty, ”, University of Minnesota Locations: Venezuela, Atlantic, Europe, England, Iceland, Alaska, Asia, Baku, Azerbaijan, Paris, Ilulissat, Greenland, U.S

☆ I ate the same meal at TGI Fridays and Chili's. It's clear why only one is thriving.
▼ + stars: | 2024-11-12 | by ( Erin Mcdowell | ) www.businessinsider.com time to read: +3 min

I ate the same meal at TGI Fridays and Chili's to compare the two chains. TGI Fridays just filed for bankruptcy, while Chili's is outperforming its competitors. I preferred the food and overall experience at Chili's, though TGI Fridays did have meatier wings. AdvertisementChili's and TGI Fridays are both big names in fast-casual dining, but their recent performance tells two very different stories. TGI Fridays said the main reasons for filing for bankruptcy were financial challenges from the COVID-19 pandemic and a flawed capital structure.

Persons: —, Chili's, John Bringardner, Bringardner, Rohit Manocha Organizations: Service, Reuters, CNN, Capital Advisors Locations: Chili's, Los Angeles

☆ David Einhorn to speak as the priciest market in decades gets even pricier postelection
▼ + stars: | 2024-11-12 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Hedge fund investor David Einhorn's cautious stance all year made his performance suffer as he navigated what he believes is the priciest stock market of his career at Greenlight Capital. Einhorn's hedge fund returned just 9% in 2024 through the end of the third quarter, net of fees and expenses. The high-profile investor said he's neither calling the market a bubble nor being outright bearish, but sky-high prices caused him to be conservatively positioned. It is, by many measures, the most expensive stock market that we have seen since the founding of Greenlight," Einhorn said in the latest investor letter last month. Investors will be interested to hear if he's still finding any values.

Persons: David Einhorn's, he's, Einhorn, Greenlight, Einhorn postelection, Viatris Organizations: Greenlight, Alpha, Trump Locations: Einhorn's, Greenlight, New York City

☆ The Federal Reserve is trimming rates, and these higher-yielding assets could be called back soon
▼ + stars: | 2024-11-12 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +5 min

The Federal Reserve last week dialed back interest rates by a quarter point, bringing its target rate range down to between 4.5% and 4.75%. Give and take In addition to buying CDs directly from a bank, investors can also shop for brokered CDs through their brokerage. Indeed, a client holding a 12-month brokered CD with an APY of 4.65% had their instrument called with six more months to go, he said. The Federal Deposit Insurance Corp. backs bank CDs and savings accounts up to $250,000 per depositor and per ownership category. "The time with the brokered CDs has probably come to an end," he said.

Persons: Banks, Marcus, Goldman Sachs, Malcolm Ethridge, There's, noncallable, Ethridge, They're, Dinon Hughes Organizations: Federal Reserve, Capital Area, Vanguard, Nvest, Capital, Federal Deposit Insurance Corp, Treasury, ., Bond, SEC Locations: BTIG, Washington ,, Portsmouth , New Hampshire, Kennebunk , Maine

☆ Four storms churning the West Pacific at the same time mean more bad news for the Philippines
▼ + stars: | 2024-11-12 | by ( Helen Regan | Robert Shackelford | ) edition.cnn.com time to read: +5 min

CNN —Four separate storm systems are churning their way through the West Pacific simultaneously, a rare occurrence resulting from warmer oceans that threatens to bring more misery to the storm-weary Philippines. Satellite images from the Joint Typhoon Warning Center show the four storms spanning the vast West Pacific basin, from Vietnam to Guam. They are Typhoon Yinxing, Typhoon Toraji, Tropical Storm Usagi and Tropical Storm Man-Yi. The fourth storm on the heels of Usagi is Tropical Storm Man-Yi, which is currently about 430 kilometers (265 miles) east of Rota, Guam. Man-Yi is expected to continue moving west, reaching typhoon strength Friday morning, and could potentially hit the northeastern Philippines by early next week.

Persons: It’s, Yinxing, Trami, Charism Sayat, Ferdinand Marcos Jr, we’re, ” Marcos, ”, Toraji, Yi, Usagi, Rey, Gaemi Organizations: CNN, West Pacific, Japan’s Meteorological Agency, Typhoon, Tropical, Getty, Typhoon Kong Locations: West, Vietnam, Guam, Philippines, Polangui, Albay, South, Manila, AFP, China, Hainan Province, Cagayan, Iloco Norte, Luzon’s Aurora Province, Luzon, Rota, Bato, Camarines Sur province South, Typhoon, Asia, Southeast Asia

☆ Honeywell jumps on activist push for a breakup. Here's our plan for the stock now
▼ + stars: | 2024-11-12 | by ( Morgan Chittum | ) www.cnbc.com time to read: +4 min

The news Activist hedge fund Elliott Management on Tuesday disclosed a more-than-$5 billion stake in Honeywell —arguing the industrial conglomerate should consider a breakup. Elliott's position in Honeywell is its largest ever in a single stock, according to Bloomberg News, which first reported the activist's plans. The crux of Elliott's plan is a separation of Honeywell's aerospace and automation businesses into standalone companies. Honeywell's stock is up nearly 32% over the past five years compared with a 92% gain for the broader S & P 500 . Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer isn't, Elliott, Honeywell —, Stacey Jones, Vimal Kapur, Jim, Honeywell, we've, We've, Jim Cramer's, Jim Cramer Organizations: Honeywell, Elliott Management, Bloomberg News, CNBC, Carrier, Wall, Robotics, Honeywell Intelligrated

☆ Activist investor ValueAct has $1 billion stake in Meta, sources say
▼ + stars: | 2024-11-12 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Activist investor ValueAct has a $1 billion stake in Facebook parent Meta , according to people familiar with the matter. ValueAct has a long history of investing in technology companies, and is generally considered to be more constructivist and collaborative than other activist funds. Meta is the parent company of Facebook, Instagram and WhatsApp. It is one of the largest companies to be targeted by an activist investor, with a market cap of nearly $1.5 trillion. Morfit has also pushed for change at other, smaller technology companies, including Spotify.

Persons: Mark Zuckerberg, ValueAct, Mason Morfit, Nelson Peltz's Trian, Meta, Brad Gerstner's, Gerstner, Morfit, — CNBC's David Faber Organizations: Meta, Inc, Orion, Facebook, Disney, Nelson Peltz's Trian Partners, Microsoft, Spotify Locations: Menlo Park , California

☆ Silicon Valley's swing toward Trump is real. Here's the data to prove it.
▼ + stars: | 2024-11-12 | by ( Rob Price | ) www.businessinsider.com time to read: +4 min

A notable portion of Silicon Valley's electorate has steadily shifted toward Donald Trump. In Santa Clara, San Mateo and San Francisco counties, Trump's voteshare increased by several points. But with more than 76% of the votes counted in San Francisco, Santa Clara, and San Mateo counties as of Tuesday, a trend is emerging. These numbers show that Trump and Republicans are still a long way off from gaining any real majorities in Silicon Valley. AdvertisementWhile Elon Musk is based in Texas these days, many of his companies, including Tesla, are still very active in Silicon Valley.

Persons: Donald Trump, San, —, Kamala Harris, Harris, Joe Biden, Hilary Clinton, Francisco county's, Trump, Democrat —, Mark Zuckerberg, Marc Andreessen, Ben Horowitz, Horowitz, Elon, Tesla, reelect Trump, JD Vance, Peter Thiel, Ben Narasin, we've, voteshare Organizations: GOP, Service, Business, San, Apple, Google, Nvidia, State, Facebook, Meta, Republican, Trump, Democrat, Democratic, Venture, PayPal, Elon Locations: Santa Clara, San Mateo, San Francisco counties, San Francisco Bay, California, San Francisco, Mateo county, Silicon Valley, Texas, Atherton, San Mateo county

☆ Loss-making EV firm VinFast to get $3.4 billion more funding from founder, parent company
▼ + stars: | 2024-11-12 | by ( ) www.cnbc.com time to read: +2 min

VinFast electric vehicles are parked before delivery to their first customers at a store in Los Angeles, March 1, 2023. Nasdaq-listed electric vehicle maker VinFast said on Wednesday it will get a fresh round of funding worth $3.35 billion from its founder and its parent firm, Vingroup by 2026, when it expects to break even. Approximately $1.97 billion of the new funding is expected to come from VinFast's founder, tycoon Pham Nhat Vuong, according to a company statement. Since its inception in 2017 up until June this year, VinFast has received capital injections totaling $13.5 billion from Vingroup, its affiliates, and founder Vuong, according to a company filing in late October. In July, VinFast suspended its $2 billion manufacturing complex project in North Carolina until 2028 due to challenging market conditions.

Persons: VinFast, Pham Nhat Vuong, Vuong, Donald Trump Organizations: Nasdaq, Reuters Locations: Los Angeles, Vietnam, Vingroup, North America, North Carolina

☆ London startup Agemo has exited stealth. Now, it's building AI reasoning for software to take on Poolside and Magic.
▼ + stars: | 2024-11-12 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +7 min

Agemo has exited stealth with $4 million to build AI that turns text prompts into software. Essentially, this required them to train their AI models to reason like a team of engineers. Agemo finds itself up against the likes of Poolside, which raised $500 million in October, and Magic, which raised $320 million in August. To combat this problem, Agemo is building AI systems that can "reason" in software. AdvertisementEurope's answer to Poolside and MagicTo differentiate it from competitors such as Poolside and Magic, the startup says it has developed a neurosymbolic AI system for software reasoning.

Persons: Agemo, Aymeric Zhuo, Osman Ramadan, —, IBM's Jonathan Adashek, Mehdi Ghissassi, Olivier Pomel, Zhuo, Ramadan, ChatGPT, we've, We've Organizations: Service, Firstminute Capital, Mistral, Fly Ventures, Cambridge University, Microsoft, Activision, BI Locations: DeepMind, OpenAI, Sudan, London, Europe, Bay

☆ Indian market in a consolidation phase: Alchemy Capital Management
▼ + stars: | 2024-11-12 | 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 EmailIndian market in a consolidation phase: Alchemy Capital ManagementHiren Ved, Director & CIO of Alchemy Capital says India’s outflow of foreign investments to China is tactical however disappointing Chinese stimulus details may reverse that flow, projecting India's growth and earnings to pick up in Q3.

Persons: Hiren Ved Organizations: Alchemy Capital, Hiren, Alchemy Locations: China

☆ SoftBank is betting on AI and an IPO revival after swinging to a $7.7 billion profit
▼ + stars: | 2024-11-12 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

SoftBank reported a $7.7 billion quarterly profit on Tuesday after a loss last year. SoftBank Vision Fund's CFO told BI that "macro tailwinds" helped its public portfolio. AdvertisementGains for its Vision Fund 1, a $98.6 billion investment vehicle launched in 2016 with backing from Abu Dhabi and Saudi Arabia's sovereign wealth funds, totaled $3 billion in the second quarter. Despite the investment gain, Vision Fund 2 has lost an overall total of $21 billion since its inception. The results come as SoftBank gears up for a huge investment spree in AI to realize Son's ambitious vision.

Persons: SoftBank, —, Masayoshi, Didi Chuxing, Navneet Govil, Ola, Govil, PayPay Organizations: Service, Funds, Vision, IPOs, Nvidia Locations: Abu Dhabi, Saudi, China, OpenAI, Mexico, India, ByteDance

Search resuls for: "Capital"

25 mentions found