Swedish lithium-ion battery producer Northvolt has raised $1.2 billion from investors including BlackRock and several Canadian pension plans as it prepares to build new factories in Europe and North America, its finance chief told Reuters. The fresh funding, through a convertible note, comes as investor demand for companies set to benefit from the move to a […]
Meta Platforms said on Tuesday it was launching the web version of its new text-first social media platform Threads, in a bid to retain professional users and gain an edge over rival X, formerly Twitter. Threads’ users will be able to access the microblogging platform by logging-in to its website from their computers, the Facebook and […]
3M Co said on Tuesday that Bryan Hanson would be the chief executive officer of the healthcare company it plans to spin off. 3M last year disclosed plans to spin off its healthcare business into a listed company, in which the U.S. industrial giant would retain a 19.9% stake. The company expects to complete the spinoff by the […]
Wall Street’s main indexes pared gains on Tuesday, as U.S. Treasury yields rose on growing worries about interest rates staying higher for longer, while gains in Nvidia shares fizzled out in the run up to the chip designer’s earnings. The yield on the 10-year Treasury note scaled over 15-year highs after a brief pullback, dragging […]
S&P Global followed Moody’s in cutting its credit ratings and outlook on multiple U.S. regional banks, saying higher funding costs and troubles in the commercial real estate sector will likely test the credit strength of lenders. A relentless rate-hike campaign by the U.S. Federal Reserve has raised deposit costs at banks, which have been forced […]
There is increasing interest around the world in designing policies to curb carbon dioxide emissions, which are driven in large part by economic activity. This column identifies that the macroeconomic variables most related to the annual growth of per capita emissions in Spain from 1965 to 2020 were private consumption and maritime transport of goods. […]
Economics is a popular degree in the US. However, men outnumber women by two to one at the best colleges, and overall there are about 2.5 male economics majors to every female major. This column examines the impact of the Undergraduate Women in Economics Challenge, which began in 2015 for one year as a randomised […]
In June 2023, the COVID-19 Household Monitoring Dashboard released its 18th edition. For over 3 years, the dashboard has shared harmonized high-frequency phone survey (HFPS) data to provide a near real-time picture of a rapidly evolving crisis. With data from 423 survey rounds across close to 90 countries, the dashboard is one of the largest […]
Citigroup is considering plans to reorganize the bank’s biggest division after its leader Paco Ybarra leaves next year, according to a source familiar with the situation. The bank is unlikely to replace Ybarra, the head of its Institutional Clients Group (ICG), the source said. Instead, the leaders of its three business segments — investment banking, global […]
Nvidia investors expect the chip designer to forecast quarterly revenue above estimates when it reports results on Wednesday. Their only question is, by how much? The company has been the biggest beneficiary of the rise of ChatGPT and other generative artificial intelligence apps, virtually all of which are powered by its graphics processors. Nvidia shares have […]
