DC-based restaurant chain Cava sets terms for IPO
Cava, a Washington, DC-based Mediterranean restaurant, plans to pitch an IPO to investors that could value the restaurant chain in excess of $2 billion. according to Securities and Exchange Commission (SEC) filings, Cava Group. The company said it would sell 14.44 million shares at $17 to $19 a share. The company also said in the […]
Apple unveils VR headset Vision Pro
Apple unveiled the Vision Pro virtual reality (VR) headset Monday during its Worldwide Developers Conference. Apple CEO Tim Cook called the headset a “new kind of computer” that augments reality by “seamlessly merging” the physical and digital worlds. “It’s the first Apple product I’ve ever seen without looking through it. The Vision Pro feels familiar, […]
Binance mishandled funds and violated securities laws, according to SEC lawsuit
WASHINGTON (AP) — The world’s largest cryptocurrency exchange, Binance, and its founder, Zhao Changpeng, misused investor funds, operated as an unregistered exchange, and filed a lawsuit filed by the SEC against a number of U.S. He has been accused of violating securities laws. The Securities and Exchange Commission lawsuit filed in the United States District […]
GM planning to invest more than $1B to boost heavy-duty truck production
General Motors on Monday announced plans to invest more than $1 billion in two manufacturing facilities in Flint, Michigan, “to build the next generation of ICE HD trucks.” “These investments reflect our commitment to our loyal truck customers and the hard work of our dedicated employees at Flint Assembly and Flint Metal Center,” said GM […]
Spotify lays off 200 people from podcasting team
Spotify, the music and podcast streaming service, said Monday it was laying off 200 people in a change to its podcasting division. “We are expanding our partnership efforts with leading podcasters around the world with an approach optimized for each show and creator. Spotify will be able to better support its creator community, but it […]
US credit rating to stay on Fitch’s ‘negative watch’ despite debt limit deal
Fitch Ratings, a prominent credit rating agency, Said The country’s highest rating on Friday was announced to remain on the “negative watch” list after Congress successfully passed a bipartisan bill to raise the debt ceiling, just days away from a critical deadline to prevent a national debt default. The day has come. In a note […]
Five takeaways on a surprisingly strong May jobs report
Economic growth in May added 339,000 jobs, again beating analysts’ expectations even as the unemployment rate recorded its sharpest rise in months, up to 3.7% from 3.4% in April. outperformed, demonstrating the strength of the US labor market. A mixed result could be a Rorschach test for the Fed, which has raised interest rates to […]
Why Fewer Job Openings Could Be A Positive For The Us Economy
It’s no secret that the once-hot U.S. job market is showing signs of cooling, just as summer has arrived. According to the US Latest statistics from the Department of LaborOn the last business day of March this year, the number of job openings fell to 9.6 million. This is 1.6 million less than he was […]
Economy adds 339K jobs in May, blowing past expectations
US added 339,000 jobs in May, unemployment rose to 3.7 percent, data released by the Labor Department on Friday. May’s job market blew up economists’ expectations. Forecasters expect the unemployment rate to remain broadly flat at 3.5% last month, despite an increase of about 195,000 jobs last month, according to consensus forecasts. The unemployment rate […]
High fuel prices, energy security concerns drive surge in renewables: research
Rising fuel prices and concerns about energy security are among the factors driving the surge in renewable energy capacity, with solar power at the top, according to the latest International Energy Agency (IEA) study. “Solar and wind are leading the rapid expansion of the new global energy economy. more than the power capacity combined,” said […]
