Honda, GM fuel cell venture launches commercial production
By Joseph White BROWNSTOWN, Michigan (Reuters) – General Motors and Honda have begun shipping fuel cell power systems to customers from a factory near Detroit, they said on Thursday, a new test…
Venezuelan man indicted in U.S. for money laundering linked to Petropiar oil venture
(Reuters) -A Venezuelan man has been indicted for allegedly laundering the proceeds of inflated procurement contracts obtained via millions of dollars in bribes to officials at Venezuelan oil venture Petropiar, the U.S.…
Gulf e-commerce company Noon to buy fashion venture Namshi – statement
By Hadeel Al Sayegh DUBAI (Reuters) – Dubai’s Emaar Properties said on Saturday it is selling fashion e-commerce venture Namshi to Noon, an e-commerce company backed by Dubai billionaire Mohamed Alabbar and…
China’s Didi EV joint venture with Li Auto applies for bankruptcy – court
SHANGHAI – Chinese ride-hailing firm Didi’s joint venture with Li Auto has applied for bankruptcy, according to a court filing, pointing to the end of a four-year-old partnership to make electric vehicles…
Boeing, AE Industrial Partners to launch second venture fund
By David Shepardson and Tim Hepher FARNBOROUGH, England – Boeing Co said on Wednesday it had agreed to invest $50 million in AEI HorizonX, expanding a partnership established with private equity firm…
Ford, SK On finalize U.S. EV battery joint venture
(Reuters) – Ford Motor Co and South Korean battery maker SK On Co along with its subsidiary on Thursday finalized setting up a joint venture for building and operating battery production facilities…
Costco buys remaining stake in Taiwan joint venture for $1.05 billion
(Reuters) -Costco Wholesale Corp said on Thursday it bought the 45% stake it did not already own in its Taiwan joint venture, Costco-Taiwan, for $1.05 billion. The deal, executed through a unit,…
Majority Black-owned MaC Venture Capital raises $203 million in second fund
(Reuters) – MaC Venture Capital said on Monday it had raised $203 million in its second fund, nearly doubling the capital the majority Black-owned venture firm raised for its inaugural fund last…
Seven Defendants Charged in Animal Fighting Venture and Illegal Gambling Operation
CHARLESTON, SOUTH CAROLINA — A joint team of federal, state, and local law enforcement officers arrested 7 individuals on June 22, 2022, who have all been charged in federal court for their roles…
RedBird backing Raymond James exec for asset, wealth manager venture -sources
By David French NEW YORK – RedBird Capital Partners is partnering with an outgoing executive from Raymond James Financial Group to establish a new asset and wealth management platform, sources familiar with…
Binance’s venture capital arm raises $500 million fund to invest in Web3, blockchain
(Reuters) – Binance Labs, the venture capital arm of cryptocurrency exchange Binance, said on Wednesday it had raised $500 million for its investment fund focused on companies involved in the blockchain and…
Stanford University given $1.1 billion by venture capitalist for climate change school
By Kanishka Singh (Reuters) – Stanford University received $1.1 billion, its largest ever gift, from venture capitalist John Doerr to fund a new school focused on climate change, fueling a debate about…
Arm dismisses China unit’s opposition to CEO change
By Brenda Goh and Jane Lanhee Lee SHANGHAI -Arm Ltd said on Friday a change in leadership at its Chinese joint venture fully complied with local laws, after concerns were raised about…
African startups drew record $5.2 billion in venture capital last year – industry group
JOHANNESBURG – African start-ups attracted a record $5.2 billion in venture capital last year, bouncing back from a pandemic-induced dip in 2020 with a nearly five-fold increase in investments, according to data…
General Atlantic hires ex-IHS Markit boss Uggla to lead climate venture
LONDON – U.S. private equity firm General Atlantic on Wednesday named Lance Uggla, former boss of data company IHS Markit, as chief executive of its climate-focused venture BeyondNetZero. Uggla founded Markit and…
Harry Sloan, Jeff Sagansky scrap IPO plans for SPAC venture
(Reuters) – Blank-check firm Spinning Eagle Acquisition Corp, backed by former Hollywood executives Harry Sloan and Jeff Sagansky, on Wednesday filed to withdraw its U.S. initial public offering of up to $2…
Erie County Jail Guard Gets Probation For Involvement in Wife’s Prostitution Venture
LANCASTER, NY – A former Erie County jail guard, 55-year-old Wallace Waliczek of Lancaster was sentenced to three years of probation after he was caught helping his wife’s side gig as a…
HSBC buys bigger stake in its China securities venture
LONDON – HSBC said on Wednesday it had increased its stake in its China securities brokerage, through a deal to buy equity from its state-owned partner Qianhai Financial Holdings. The London-based bank…
HSBC and Overhaul Announce Venture Debt Financing to Fund Future Growth and Expansion Globally
AUSTIN, Texas, March 24, 2022 — Overhaul, the industry’s first and only software-based, supply-chain visibility, integrity, and security solution for leading enterprises shipping freight globally, today announced that HSBC Bank USA has…
UBS, China Life asset management venture plan in limbo as talks stall – sources
By Samuel Shen and Selena Li SHANGHAI/HONG KONG – A plan by UBS and China Life Insurance Group to set up an asset management joint venture in China faces uncertainty as talks…
Exclusive-BP, Eni clinch deal on Angola joint venture
By Ron Bousso and Stephen Jewkes LONDON – Eni and BP have completed a deal to merge their oil and gas operations in Angola, the groups said on Friday, confirming what sources…
FirstEnergy Contributes $1 Million to Venture Capital Organization to Support Minority Businesses in Northeast Ohio
AKRON, Ohio, March 9, 2022 — To help expand and grow minority-owned businesses in northeast Ohio, FirstEnergy Corp. (NYSE: FE) today announced a $1 million contribution to UBIZ Venture Capital, a small…
Serena Williams’ new venture fund raises $111 million
– Tennis great Serena Williams raised $111 million for her new early stage venture capital firm Serena Ventures, according to the fund’s blog post on Tuesday. The company has invested in fintechs…
Uber to remove executives from Yandex joint venture
– Uber Technologies Inc said on Monday it would remove the company’s three executives on the board of its joint venture with Russia’s Yandex, as more western companies distance themselves amid Moscow’s…
Venture Global to ship first fuel from new Louisiana LNG plant
By Marcy de Luna HOUSTON – A liquefied natural gas tanker that has been docked at Venture Global’s Calcasieu Pass export terminal in Louisiana since early February is nearly loaded, according to…
South Africa’s Discovery, AIA to partner for Asian insurance tech venture
– South Africa’s Discovery Ltd said on Tuesday it would set up an Asia-focused health insurance technology business in partnership with Hong Kong-listed AIA Group Ltd. Discovery will own 25% of the…
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