Electric truck makers

- A + A NEW YORK (June 28): The lukewarm reception for Polestar Automotive Holding, the latest electric-vehicle (EV) company to go public in the US, is sending an ominous message to other start-ups: The purge is not over. Yes, the auto industry is due for a transformation as oil prices soar and the need for cleaner transportation becomes increasingly apparent. But, runaway inflation and a looming economic downturn are making investors leery of speculative investments, which include EV makers despite the allure of the coming revolution. Polestar's tepid welcome — the stock jumped 16% on its first day of trading on Friday and then dropped 15% on Monday — is the latest evidence of that scepticism. The Swedish electric-car maker went public after merging with blank-cheque company Gores Guggenheim Inc. The company's market valuation stood at about US$24 billion as of Monday's close. "EV stocks benefitted greatly from the abundance of liquidity that had been sloshing … [Read more...] about Polestar IPO’s meh greeting a troubling signal for EV makers

Fred Hu, chairman of Primavera Capital Group, poses for a photograph following a Bloomberg Television interview in Hong Kong, China on Monday, Sept 16, 2019. (Bloomberg filepix) - A + A (June 28): The founder of one of China’s biggest private equity investors said the nation’s tech firms are turning a corner after a recent rout wiped out nearly US$2 trillion in market value at its peak. Fred Hu, the former Goldman Sachs Group Inc rainmaker who started the US$17 billion Chinese private equity firm Primavera Capital, said reassuring messages concerning regulation, resilient earnings and beaten-down valuations now make the sector interesting for investors. “This could be the beginning of a new era for China tech,” Hu, the firm’s chairman, said in a recent interview. “There’s a lot of value to be discovered,” he said, adding that investors still need to be selective given the high risk profile of such companies. The private equity mogul’s views are one of the … [Read more...] about One of China’s top tech investors sees crackdown turning point

Share to Twitter Share to Linkedin Topline The death toll reached 50 among people believed to be migrants who were found Monday in and around a sweltering abandoned tractor-trailer near San Antonio, Texas–a tragedy that appears to be linked to efforts to smuggle people across the border from Mexico. Key Facts There were 46 dead reported Monday, with 16 other people—including four children—found alive at the scene, but three later died at Baptist Medical Center, while a fourth death was also reported, though the circumstances were not clear, according to the New York Times . The trailer was first discovered by a person working in a nearby building on Monday evening after they responded to a cry for help and found the trailer’s doors partially open and the deceased people inside it, San Antonio police chief William McManus told the press . Although the vehicle in question was a refrigerated tractor-trailer, San Antonio Fire Chief … [Read more...] about Death Toll Reaches 50 From Abandoned Truck Near San Antonio

UPDATE Stall sellers and the owners of the Ratchawong Rungrueng packaging shop building, which caught fire in Bangkok’s Chinatown on Saturday, say they are going to sue the Metropolitan Electricity Authority for negligence after a broken transformer caused the blaze that killed 2 people. The faulty transformer caught fire and quickly ripped through the 3-story building on Ratchawong Road in the Sumphanthawong district of Bangkok, also affecting 4 nearby buildings and stalls, causing the death of 2 people and millions of baht worth of damage. The inspector of police from the Chakkrawat Police Station, Ponlawat Promsorn, yesterday spoke to the building owners, and stall sellers, and they estimated the damage caused by the fire is about 10 million baht. They revealed they are suing the MEA and other relevant departments for their recklessness. The building owner revealed to the police and media that they asked the MEA to repair the transformer many times, but they allegedly did … [Read more...] about UPDATE: Owner of fire building in Bangkok Chinatown to sue electric authority

Penang Chief Minister Chow Kon Yeow (The Edge filepix) - A + A BATU KAWAN (June 28): Penang recorded approved manufacturing investments totaling RM6.3 billion in the first quarter of 2022, paving the way for it to be among the country's top contributors in terms of total investment inflow this year, Chief Minister Chow Kon Yeow said. "The state’s commendable performance that continues to punch above our weight is testament to our resilient industrial ecosystem, placing us at the forefront of industrialisation," he said in his speech at the grand opening of Smith & Nephew’s manufacturing facility here on Tuesday (June 28). Chow said Penang garnered a record high of RM76.2 billion in total approved manufacturing investments in 2021, significantly exceeding the state's past performances. "In particular, foreign direct investments (FDIs) contributed 98% of total investment inflows, making Penang the highest recipient of manufacturing FDIs in Malaysia," he … [Read more...] about Penang records RM6.3 bil total approved manufacturing investment for Q1 2022

This article first appeared in The Edge Malaysia Weekly, on June 20, 2022 - June 26, 2022. - A + A THE share price of DRB-Hicom Bhd has been on a downward trend since December 2020, when the shortage of semiconductors became apparent the world over. Last Friday, DRB-Hicom was trading at RM1.16 — its lowest since March 23, 2020. This means DRB-Hicom is now trading at the level when stocks tumbled in reaction to the first Movement Control Order (MCO), which was implemented in March 2020 to contain the spread of Covid-19. This is in contrast to other automotive or automotive-based groups listed on Bursa Malaysia. For example, Bermaz Auto Bhd is trading at more than double the level on March 23, 2020, and MBM Resources Bhd is 38% higher than at the start of the pandemic. Shares in Sime Darby Bhd, which is also a conglomerate like DRB-Hicom, were up 43.5% last Friday compared with March 23, 2020. UMW Holdings Bhd, another conglomerate with a huge automotive … [Read more...] about At an almost two-year low, DRB-Hicom is still demonstrating upside uncertainty

Officials from BC Card and the Busan city government take a commemorative photo to celebrate the opening of BC Card's big data platform lab Wednesday in Busan. [BC CARD] BC Card opened a second financial big data platform lab in Busan in support of the government’s Digital New Deal initiative, the company announced Thursday. “We hope businesses can utilize our big data platform lab for various purposes and eventually promote the big data ecosystem and relevant technologies,” said BC Card Chief Operating Officer Lee Kang-hyuk, at an opening ceremony in the Busan International Finance Center Wednesday afternoon. Big data technology analyzes large databases to extract meaningful information. BC Card’s big data platform lab is a data marketplace that extracts and sells both financial and non-financial data to individuals and companies. BC Card was selected by the government to head the building of a big data infrastructure for the finance sector in May 2019 as part of the … [Read more...] about BC Card opens big data lab in Busan

Share to Twitter Share to Linkedin The world of social media is competitive, but enormous and with endless possibilities for those who excel. Alessandro Riggio got started in the social media game in 2010 and today manages some of the largest names in the industry. Khaby Lame (who this week became number 1 on TikTok with 145 million followers, ahead of Charli d’Amelio), Serena Williams , Douglas Costa , Brahim Diaz , and Alvaro Morata - to name a few. Few have been around since the early days of social media, let alone to rise to the top. However, Alessandro proved not only his abilities, but also his passion when he rose from a film student to become one of the world’s top social media managers. As an example, Alessandro took on Khaby Lame as a client when he had 1,000 Instagram followers - fast forward to today where Khaby boasts around 80 million. Ale is an Italian entrepreneur who built a name for himself by bringing his clients to the … [Read more...] about Alessandro Riggio On How To Manage And Grow The World’s Biggest Social Media Personalities

Share to Twitter Share to Linkedin Across all levels and industries, recruiting the best talent remains a challenge in the current market. Tempting new employees while retaining your existing staff and keeping staffing levels high is ever-challenging. At the start of the pandemic, the quick reduction in workforce demand laid bare the fundamentals of the company and employee relationship. The subsequent quick market flip for talent put the power of choice very much at the heart of the employee. With the dynamic of the working environment changing and prospective hires being able to choose when and how they work, companies suddenly had to review every aspect of their business to compete - from mentorship and facetime policies to compensation and benefits - all these softer aspects of work have been turned on their head. Many companies are now trying different tactics to attract new talent with limited success. The most obvious of these are to increase starting … [Read more...] about Recruiting The Best – Transparency Trumps Theatrics

Share to Twitter Share to Linkedin Crypto may be down, but Jack Lu and Zhouxun Yin are continuing to build. The cofounders of Magic Eden, the top Solana SOL -based NFT marketplace by market share, announced today the close of a $130 million Series B venture round. The added capital brings the company’s valuation up to $1.6 billion and is one of the first major investments to be announced since the recent crypto plunge that saw bitcoin fall below $20,000 and ether drop under $1,000. Magic Eden now becomes the third NFT marketplace to achieve unicorn status alongside $13 billion OpenSea and $7 billion LooksRare. The funding was co-led by Electric Capital and Greylock and it comes three months after the company announced its $27 million Series A in March 2022. “Magic Eden’s ability to keep pace and drive innovation in a rapidly evolving NFT market is extremely impressive,” said Avichal Garg, cofounder and managing partner at Electric Capital. “They … [Read more...] about Billion Dollar NFT Marketplace Magic Eden Raises $130 Million Despite Signs Of Crypto Winter