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Apple's Tech Supply Chain Demonstrates Difficulties In Reducing Reliance On China

In recent years, American businesses have had an increasing number of reasons to reduce their ties with China. Tariffs imposed by former President Donald Trump Beijing's Covid lockdowns are severe. The Sino-American standoff over Taiwan. Political pressure to "friend-shore" supply chains to...

Manufacturer Of Electric Vans, Arrival , Has Missed Its Quarterly Production Target

Arrival, a British electric van and bus manufacturer, said on Friday that it had missed its third-quarter target for starting van production due to supply chain issues, but that it was on track to meet its goals by the end of 2022.   "The supply chain is broken and we're a new company,"...

Porsche Stocks Soar After A $72 Billion Valuation At IPO

Porsche AG shares rose sharply on Thursday after Volkswagen defied volatile markets by listing the sports car manufacturer at a valuation of 75 billion euros ($72 billion) in Germany's second-largest market debut.   Volkswagen priced Porsche AG shares at the high end of the indicated range,...

Livewire Is Spun Off By Harley-Davidson In A $1.8 Billion SPAC Merger

The first publicly traded electric motorcycle company in the US was created when Harley-Davidson Inc. spun off its electric motorcycle division, LiveWire, through a SPAC deal.   Following the unit's $1.77 billion merger with a blank-check company on Tuesday, LiveWire Group Inc.,...

Goldman Sachs Closes The Largest Private Equity Fund Since 2007 At $9.7 Billion

According to Goldman Sachs Group Inc., it has closed a $9.7 billion private equity fund, its largest since 2007. The fund aims to invest in businesses with an enterprise value of between $750 million and $2 billion.   The "West Street Capital Partners VIII" fund is housed within the asset...

Grab Anticipates Becoming Profitable By The Second Half Of 2024

The largest ride-hailing and food delivery company in Southeast Asia, Grab Holdings Ltd., said on Tuesday that as it moves faster toward profitability, it expects to break even on adjusted EBITDA by the second half of 2024.   For the second half of 2022, its group adjusted EBITDA loss is...

Byju's Pays Blackstone $234 Million In Connection With The Aakash Deal

According to a source directly involved in the transaction, India's Byju's paid Blackstone Inc. $234 million to settle its debts owed to the private equity firm as part of a $950 million deal to purchase Aakash Educational.   The payment made on Thursday was for a 38% or so stake in the...

Credit Suisse Targets To Achieve Stronger Franchise After A Global Review

Credit Suisse's top two executives have informed staff that the bank is working to build a stronger franchise in the long term, amid uncertainty regarding a global review of its operations, according to a memo quoted by reports in the media.   A "heightened level of media and market...

ADIA Considers Investment As Blackstone Sells $400 Million Stake In Indian REIT Embassy

Blackstone Inc. will sell a stake in Embassy Office Parks REIT, India's largest real estate investment trust, for up to $400 million through block deals on the Indian stock exchange, according to a report published by Reuters quoting sources familiar with the situation.   One of the sources...

YouTube Challenges TikTok By Offering Creators Of Short Films 45% Of All Ad Revenue

As TikTok's market share grows, YouTube unveiled a new way for creators to monetize short-form video.   The streaming service, which is owned by Google, revealed on Tuesday that it would start running ads on its video feature Shorts and give video producers 45 per cent of the money. This...

Ford Alerts Investors To An Increase In Supply Chain Costs Of $1 Billion In The Third Quarter

Ford Motor Company issued a warning to investors that it expects third-quarter costs to increase by $1 billion as a result of supply chain problems and inflation.   About 40,000 to 45,000 vehicles, mostly high-margin trucks and SUVs that haven't been able to reach dealers, are affected by...

Uber Claims A Hacker Connected To Lapsus$ Is To Blame For The Breach

According to Uber Technologies Inc., a hacker associated with the Lapsus$ hacking group was behind the cyberattack that temporarily forced the ride-hailing company to halt several internal communications last week.   According to Uber, the attacker did not gain access to any user accounts or...
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