Steven Mnuchin Owned Private Equity Fund Acquires $525M Controlling Stake in Startup Security Firm Zimperium

Liberty Strategic Capital, a private equity fund owned by former U.S. Treasury Secretary Steven Mnuchin has bought a controlling stake of $525 million in startup security firm Zimperium. This information was revealed by the Washington based private equity fund. This acquisition deal is the first ever majority stake acquisition by the private equity fund since […]

40% of Toshiba Stakeholders Voted in Favor of Spin-Off

For some months now talks about a possible spin-off in Japan based multinational conglomerate Toshiba Corp. (TYO: 6502). Well the company held annual general meeting in which 39.53% of the shareholders with voting rights voted in favor of a plan to spin-off the company’s devices unit. On the other hand, a separate group backed by […]

Tesla Hands Over its First Model Y Cars From its German Gigafactory

Leading electric vehicle manufacturer Tesla Inc. (TLSA) has handed over its first Model Y cars produced at its $5.5 billion Gruenheide plant to its customers. This marks the first European production hub by the United States based company. The company’s founder and chief executive officer Elon Musk together with German Chancellor Olaf Scholz attended the […]

Softbank Sells its Stake in Coupang Worth $1 Billion

Japan based investment management firm Softbank Group Corp. (TYO: 9984) announced having sold its stake in South Korea based e-commerce company Coupang Inc. (NYSE: CPNG) worth $1 billion. Regulatory filings with the United States Securities and Exchange Commission (SEC) show that, Softbank sold its stake through its investment vehicle vision Fund which sold 50 million […]

AutoFi Raises $85 Million to Expand its Online Auto Finance Business

San Francisco based provider of dealership systems to support online car sales and financing AutoFi announced having raised $85 million from its just concluded financing round. The company will be using the cash to expand its operations. This funding round leaves the company sitting on a market valuation of around $700 million. Investors who took […]

Apple Stops All Products Sales in Russia

United States based tech giant and producer of consumer electronics Apple Inc. (AAPL) has halted all product sales in Russia following recent events where Russia invaded its neighbor Ukraine. The iPhone manufacturer says this move is its response to the invasion. “We are deeply concerned about the Russian invasion of Ukraine and stand with all […]

Panasonic to Start Mass Production of New Tesla Battery in March

Japan based developer of diverse electronics technologies and solutions for customers Panasonic Corp. (TYO: 6752) is set to begin mass production of new lithium-ion battery for leading electric vehicle make Tesla Inc. (TSLA) before the month of March wraps up. Panasonic unveiled the new battery back in October, the 4680 format (46 millimetres wide and […]

Ford is Not Considering Separating its EV or Gasoline Powered Vehicle Businesses

United States based car manufacturer Ford Motors Co. (F) has ruled out any possibility of separating its electric vehicle or gasoline powered vehicle businesses. This was revealed by the company’s chief executive officer, Jim Farley, who says they are not planning any spin-off. “We have no plans to spin off our electric business or our […]

GM Seeking Regulatory Approval to Deploy Autonomous Cars in the U.S

Automobile manufacturer General Motors Co. (GM) together with its self-driving technology unit Cruise has applied for permission from U.S regulators to build and deploy autonomous cars without human control features like steering wheels and brake pads among others. In a blog post, Cruise says it applied for permission to deploy the Cruise origin which does […]

Musk Donated $5.7 Billion to Charity in November

Elon Musk, founder and chief executive officer of electric vehicle maker Tesla Inc. (TSLA) donated Tesla shares worth $5.7 billion to charity last November. This was revealed through Tesla’s filing with the U.S Securities and Exchange Commission (SEC) showing that between November 19 to November 29 Musk donated a total of 5,044,000 shares to a […]