Struggling Startup Lordstown Motors Gets $400M Investment | Ohio News | US News

LORDSTOWN, Ohio (AP) — Lordstown Motors has received a $400 million investment as the struggling electric truck maker continues to push toward production of its new pickup this fall.

The Ohio company, which has been under scrutiny over the claims it has made about the number of orders it has received for its trucks, said in a filing Monday with the Securities and Exchange Commission that hedge fund YA II PN Ltd agreed to to buy $400 million of stock.

Shares of the company, which are down more than 60% this year, rose about 2% Monday.

Lordstown’s operations have been under increasing scrutiny in recent months after the company said it had no firm orders for its vehicles just after saying it had enough to maintain production through 2022. The company’s CEO and chief financial officer resigned.

Lordstown acknowledged receiving two subpoenas from federal regulators earlier this month related to the company’s merger with DiamondPeak, a special purpose acquisition company, and that prosecutors in New York also had opened an investigation.

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Last month, the company’s new chairwoman said it still plans to start making its electric truck called the Endurance in September.

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Source: https://www.usnews.com/news/best-states/ohio/articles/2021-07-26/struggling-startup-lordstown-motors-gets-400m-investment

Legaltech Startup “Clara” Opens in Dubai Following Investment from DIFC FinTech Fund

legaltech-startup-“clara”-opens-in-dubai-following-investment-from-difc-fintech-fund

DUBAI, UAE, July 26, 2021 /PRNewswire/ — Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, announced that it has invested in UK-based legaltech startup, Clara.

Clara’s innovative platform digitises and automates many of the legal tasks founders need to perform, including setting up companies in different jurisdictions.

The investment reflects the DIFC’s commitment to driving the automation and digitisation of legal services. The investment was made by the DIFC FinTech Fund, a USD 100 million fund announced in 2017 to help establish, grow and upscale startup and growth stage companies seeking access to MEASA markets.

Additionally, recognising the growth opportunities associated with operating in the DIFC, given the Centre is home to the largest and most comprehensive FinTech and innovation ecosystem in the region, under Clara’s new license, it will now be able to provide its streamlined corporate services platform to DIFC companies. This is the third jurisdiction to grant Clara a license to set up companies.

Commenting on the announcement, Arif Amiri, CEO of DIFC Authority, said: “DIFC continues to be a catalyst for innovation in the region by investing in businesses that can help transform the finance industry. We are therefore delighted to announce the DIFC’s FinTech Fund investment in Clara, a rapidly growing legaltech startup that will make doing business easier for emerging companies and other businesses that form part of the region’s largest financial services ecosystem.”

“Startups are looking for a new approach to help them overcome the pain and complexity of dealing with legal matters,” said Patrick Rogers, CEO and Co-Founder of Clara. “We are thrilled to be setting up in the DIFC which will allow us to completely streamline the customer experience of incorporating DIFC entities – adding further value to the Clara platform, which digitises and automates startup legals.”

Clara is led by a team of seasoned lawyers and technologists who have worked at some of the top companies within their sectors. The company’s platform automates many of the tasks currently performed by lawyers for startups including forming companies, drafting agreements, building cap tables, structuring data rooms and predictively educating founders on legal concepts. The company has raised USD 3.5 million in seed financing from institutional investors, including 500 Startups and Techstars.

View original content to download multimedia:https://www.prnewswire.com/news-releases/legaltech-startup-clara-opens-in-dubai-following-investment-from-difc-fintech-fund-301340647.html

SOURCE Dubai International Financial Centre (DIFC)

Markets Insider and Business Insider Editorial Teams were not involved in the creation of this post.

Commenting on the announcement, Arif Amiri, CEO of DIFC Authority, said: “DIFC continues to be a catalyst for innovation in the region by investing in businesses that can help transform the finance industry. We are therefore delighted to announce the DIFC’s FinTech Fund investment in Clara, a rapidly growing legaltech startup that will make doing business easier for emerging companies and other businesses that form part of the region’s largest financial services ecosystem.”

Source: https://www.financialnewsherald.com/2021/07/26/legaltech-startup-clara-opens-in-dubai-following-investment-from-difc-fintech-fund/

Stock Custom Homes reaches nearly $100M in year-to-date sales

Stock Custom Homes, the custom home building division of Stock Development, is set to break company records as it approaches nearly $100 million in sales so far in 2021. This feat is a testament to the company’s quality craftsmanship, dedication to excellence, and successful expansion in luxury locations throughout Florida.

“The sales momentum we’ve experienced has been exceptional,” commented Matt Sellick, president of Stock Custom Homes. “I’m incredibly proud of our team and their diligent work to maintain our reputation for building quality custom homes during such a busy time.”

Stock Custom Homes continues to impress in WildBlue, a one-of-a-kind master-planned community nestled between Naples and Fort Myers, as interested homebuyers are drawn to the luxurious lakeside living and the newly offered amenities and activities. The company provides a unique opportunity for the discerning homebuyer with only a few select estate lots with breathtaking views. Stock previously sold an estate based on the Sophia III floorplan prior to completion in the community. Three more estates are currently in development.

The esteemed brand has also maintained and expanded a leading presence in The Lake Club, a prestigious village located in the nationally recognized community, Lakewood Ranch. Stock Development has proven itself as an esteemed builder in the Sarasota region, having been in the area since 2016, and this is only the beginning of Stock Custom’s growth with two estates to start.

The company’s footprint is growing on the east coast as well, with multiple luxury residences in the Wellington area. Stock Custom Homes recently sold two estates in Wellington, one in the exclusive Palm Beach Polo Golf and Country Club and one in Mallet Hill, for a total of $22 million. Additionally, an incredible oceanfront estate with a private beach at 916 S. Ocean Boulevard is priced at $59M and slated for completion this summer.

“Stock Custom Homes has truly developed the standard for what luxury living should be, and we’ve proven ourselves as one of the elite custom home builders in all of Florida,” commented Sellick.

ABOUT STOCK CUSTOM HOMES

Ranked as one of the top 50 Housing Giants in 2021 by the leading business publication, PROBuilder, Stock Development is now celebrating 20 years as Southwest Florida’s preeminent homebuilder. Continuing to expand, the award-winning luxury homebuilder’s custom homes division, Stock Custom Homes, is actively working on custom estates throughout Southwest Florida along with Sarasota, Wellington, and Palm Beach. A recipient of the Collier Building Industry Association’s Builder of the Year Award in 2020, the company is known for its dedication to quality.

With more than seven decades of building experience, Stock Development is one of Florida’s most dynamic and innovative development companies. Their superb craftsmanship, originality, and vibrant outdoor living designs are the hallmarks of distinctive communities from Naples to Sarasota and the east coast. For more information about Stock Custom Homes’ visit stockcustomhomes.com or call (239) 249-6400.

Source: https://www.naplesnews.com/story/money/real-estate/2021/07/24/stock-custom-homes-reaches-nearly-100-m-year-date-sales/8025761002/

Japan Inc wants to become a hydrogen superpower

IN 2016 TOKYO’S then governor, Masuzoe Yoichi, predicted that the Olympics the Japanese capital was to host in 2020 would “leave a hydrogen society as its legacy”, just as the 1964 Tokyo games left the Shinkansen bullet trains. Later that year Mr Masuzoe resigned over an expenses scandal. But as Tokyo prepares for the pandemic-delayed opening ceremony on July 23rd his dream lives on.

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For the first time, the Olympic torch burned hydrogen (never mind that the flame is colourless). Officials will be ferried around in some 500 cars and 100 buses made by Toyota and running on fuel cells, portable power plants that consume hydrogen and emit only water vapour. The Kawasaki King Skyfront Tokyu Rei hotel gets energy from hydrogen sourced from waste plastics.

All nifty, to be sure. But also as immaterial as the lightest gas. Fuel-cell cars are miles from the mass market, despite 20 years of efforts by Toyota and other Japanese firms. The lack of refuelling infrastructure, difficulty of storing the stuff in small vehicles and fuel cells’ persistently high cost all argue against a big role for hydrogen in decarbonising transport.

And yet Japan does have a shot at hydrogen-superpowerdom. Behind the scenes its firms are pursuing unglamorous applications in heavy industry and other hard-to-decarbonise sectors. The government is egging them on.

In June, for example, Japan’s Ministry of Economy, Trade and Industry (METI) laid out a plan to slash carbon emissions from steelmaking by shifting to “direct-reduction iron” (DRI). This process both uses considerably less energy and can replace some climate-unfriendly ingredients of the requisite industrial chemistry (such as carbon monoxide). METI is lavishing billions of dollars on the industry to commercialise the use of hydrogen in blast furnaces by 2030. Mitsubishi Heavy Industries, a conglomerate, is building a zero-carbon steel mill in Austria. Nippon Steel wants its DRI technology to be in commercial use by 2030.

Japanese firms are getting into the production of the feedstock, too. The easiest way to make hydrogen is to strip it from methane, each molecule of which contains four atoms of hydrogen and one of carbon. That process, known as “reforming”, is cheap but dirty, since its byproduct is planet-heating carbon. Hydrogen can be made cleanly from ammonia or water but this is more expensive. To bring costs down, ENEOS, Japan’s biggest oil refiner, recently unveiled plans to build a giant factory by 2030. It will use an electrolytic process to slash the cost of making clean H2 from H2O by two-thirds.

In July Marubeni, a Japanese industrial conglomerate, struck a deal with Providence Asset Group, an Australian investment firm, to develop 30 solar farms down under that would combine renewable energy with battery and hydrogen storage. They aim eventually to export green hydrogen to Japan. Kawasaki Heavy Industries recently won regulatory approval to build the world’s largest liquefied-hydrogen cargo ship. Not quite as eye-catching as the Shinkansen. But, just maybe, even more consequential.

This article appeared in the Business section of the print edition under the headline “Burning clean”

Source: https://stock-daily.com/news/japan-inc-wants-to-become-a-hydrogen-superpower/

Unilever CEO Says Fully Committed to Israel Amid Ben & Jerry’s Row | Investing News | US News

By Siddharth Cavale

(Reuters) -Unilever’s chief executive on Thursday said the company was “fully committed” to Israel, days after coming under Israeli pressure over a decision by its subsidiary Ben & Jerry’s to end ice cream sales in the occupied Palestinian territories.

The Ben & Jerry’s ice cream brand took its decision after pressure from pro-Palestinian groups over its business in Israel and Jewish settlements in the West Bank, handled through a licensee partner since 1987.

Most countries consider Israeli settlements on Palestinian land to be illegal. Israel disputes this.

” If there’s one message I want to underscore … it’s that Unilever remains fully committed to our business in Israel,” CEO Alan Jope told investors during an earnings call.

He said the group had invested 1 billion shekels ($306 million) in Israel over the past decade and was invested in its startup culture and social programmes.

Israeli Prime Minister Naftali Bennett warned https://www.reuters.com/article/us-ben-jerry-israel-idTRNIKBN2EQ0ML Unilever on Tuesday about “severe consequences” from Ben & Jerry’s decision, calling it an anti-Israel step.

Ben & Jerry’s, which has built a reputation as a supporter of social justice causes, such as the Black Lives Matter movement and LGBTQ+ rights campaigns, was acquired by Unilever in 2000 in a deal allowing it to operate with more autonomy than other subsidiaries, which Jope said it exercised in this case.

“This was a decision taken by Ben & Jerry’s and its independent board … and we always recognise the importance of that agreement,” he said.

Jope declined to discuss the potential sales impact and played down the tension between the brands, saying “there was a very healthy dialogue between Ben & Jerry’s and the rest of Unilever.”

Jope also said the subsidiary’s efforts broadly fit Unilever’s “brands with purpose” agenda – which calls for valuing sustainability over just being profit driven.

“The majority of our brand purpose initiatives are very tightly linked to universal human truths and its the nature of what that brand (Ben & Jerry’s) does.”

($1 = 3.2704 shekels)

(Reporting by Siddharth Cavale in Bengaluru; Editing by Tomasz Janowski and Edmund Blair)

Copyright 2021 Thomson Reuters.

” If there’s one message I want to underscore … it’s that Unilever remains fully committed to our business in Israel,” CEO Alan Jope told investors during an earnings call.

Source: https://money.usnews.com/investing/news/articles/2021-07-22/unilever-ceo-says-fully-committed-to-israel-amid-ben-jerrys-row

Wheeler Real Estate Investment Trust, Inc. Announces Commencement of Rights Offering

Wheeler Real Estate Investment Trust, Inc.

News release by Wheeler Real Estate Investment Trust, Inc.

facebook icon linkedin icon twitter icon pinterest icon email icon Virginia Beach, VA | July 22, 2021 08:00 AM Eastern Daylight Time

Wheeler Real Estate Investment Trust, Inc. (the “Company”) (NASDAQ: WHLR) today announced that it will commence its rights offering (the “rights offering”) to eligible stockholders of the Company for the purchase of up to $30 million in aggregate principal amount of our 7.00% senior subordinated convertible notes due 2031 (the “Notes”).

Pursuant to the rights offering, Holders of common stock (each, a “holder” and collectively, the “holders”) as of 5:00 p.m., New York City time, on June 1, 2021 (the “record date”) are receiving non-transferable subscription rights (the “rights”) to purchase Notes. Each holder will receive one (1) right for every eight (8) shares of common stock owned of record as of the record date. Each right allows the holder thereof to subscribe for $25.00 principal amount of Notes (the “basic subscription privilege”). In addition, rights holders who fully exercise their basic subscription privilege will be entitled to subscribe for additional Notes that remain unsubscribed as a result of any unexercised basic subscription privileges (the “over-subscription privilege”). The rights offering expires at 5:00 p.m., New York City time, on August 13, 2021, unless extended or earlier terminated by the Company.

The rights offering is being made pursuant to the Company’s Registration Statement on Form S‑11 (File No. 333-256699) that became effective on July 21, 2021. The rights offering will be made only by means of the prospectus which will be filed with the SEC and copies of which will be mailed to all eligible record date stockholders and can be accessed through the SEC’s website at www.sec.gov. A copy of the prospectus may also be obtained from the information agent, Equiniti (US) Services LLC, toll free at (833) 503-4130, by email at proxyinfo@equiniti.com or by mail at 275 Madison Avenue, New York, NY 10016. Additional information regarding the rights offering will be set forth in the prospectus.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of any securities of the Company in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Headquartered in Virginia Beach, VA, Wheeler Real Estate Investment Trust, Inc. is a fully integrated, self-managed commercial real estate investment trust (REIT) focused on owning and operating income-producing retail properties with a primary focus on grocery-anchored centers. Please visit: www.whlr.us.

This press release may contain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Investors are cautioned that any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results or developments may differ materially from those in the forward-looking statements as a result of various factors.

Contact Details

Wheeler Real Estate Investment Trust

Mary Jensen | Investor Relations

+1 757-627-9088

mjensen@whlr.us

Equiniti (US) Services LLC

Brokers

+1 516-220-8356

Stockholders

+1 833-503-4130

proxyinfo@equiniti.com

Source: https://newsdirect.com/news/wheeler-real-estate-investment-trust-inc-announces-commencement-of-rights-offering-606138897

Equitable Holdings, Inc. Schedules Announcement of Second | EQH Stock News


July 21, 2021 – 5:02 pm

Equitable Holdings, Inc. (NYSE: EQH) announced today that it will release financial results for the second quarter of 2021 after the market closes on Wednesday, August 4, 2021. The company will host a conference call webcast on Thursday, August 5, 2021 at 8:00 a.m. ET to discuss the results.

The conference call webcast, along with additional earnings materials will be accessible on the company’s investor relations website at ir.equitableholdings.com.

To register for the conference call, please use this link:
EQH Second Quarter 2021 Earnings Call

After registering, you will receive an email confirmation including dial in details and a unique conference call code for entry. Registration is open through the live call. To ensure you are connected for the full call we suggest registering a day in advance or at minimum 10 minutes before the start of the call.

About Equitable Holdings

Equitable Holdings, Inc. (NYSE: EQH) is a financial services holding company comprised of two complementary and well-established principal franchises, Equitable and AllianceBernstein. Founded in 1859, Equitable provides advice, protection and retirement strategies to individuals, families and small businesses. AllianceBernstein is a global investment management firm that offers high-quality research and diversified investment services to institutional investors, individuals and private wealth clients in major world markets. Equitable Holdings has approximately 12,000 employees and financial professionals, $822 billion in assets under management (as of 3/31/2021) and more than 5 million client relationships globally.

Stock EQH logoNYSE:EQH

Equitable Holdings Inc

EQH Data

    • industryAll Other Insurance Related Activities
    • websiteequitableholdings.com
    • ceo
    • security nameEquitable Holdings Inc
    • issue typecs
    • sectorFinance and Insurance
    • sic code6411
    • employees
    • tagsFinance,Financial Conglomerates,Finance and Insurance,All Other Insurance Related Activities
    • address1290 Avenue of the Americas
    • address2
    • stateNew York
    • cityNew York
    • zip10104
    • countryUS
    • phone12125541234

EQH Description

Equitable Holdings, Inc. is a financial services holding company comprised of two complementary and well-established principal franchises, Equitable and AllianceBernstein. Founded in 1859, Equitable provides advice, protection and retirement strategies to individuals, families and small businesses. AllianceBernstein is a global investment management firm that offers high-quality research and diversified investment services to institutional investors, individuals and private wealth clients in major world markets. Equitable Holdings has approximately 12,000 employees and financial professionals, $809 billion in assets under management (as of 12/31/2020) and more than five million client relationships globally.

News Highlights: Top Financial Services News of the Day

California Teachers' Pension Mulls Co-Investment Expansion  

The roughly $306.7 billion pension system could save millions of dollars in fees and incentive payments by expanding its co-investment program to a fifth of all private-equity commitments, the system’s private-equity investment leaders said in a recent public presentation to pension trustees.

 Nasdaq to Spin Out Market for Pre-IPO Shares  

The deal could help drive more transactions to Nasdaq Private Market, the exchange operator’s trading platform for shares of companies that haven’t yet had an IPO.

 UBS Profit Jumps on Wealth Management Boom  

UBS posted better-than-expected second-quarter earnings from strong client activity in the world’s buoyant markets.

 Car Owners Return to Highways, and Their Insurers Pick Up Tab for Accidents  

A pandemic-related windfall for car insurers is diminishing, as millions of vehicle owners are back on the nation’s roads again.

 GHO Capital Closes Third Healthcare Fund at Over $2.36 Billion  

The London firm collected the fund in less than four months.

 Apollo in Talks to Join Consortium for Morrisons Offer  

Apollo Global Management is in talks with SoftBank to form part of the consortium bidding for the U.K.’s Morrison Supermarkets, ruling out a rival offer.

 Financial Services Roundup: Market Talk  

The latest Market Talks covering Financial Services

 Biden to Tap Former Hill Aide for Top Treasury Post Overseeing Financial Rules  

Graham Steele, a former aide to Sen. Sherrod Brown, is a proponent of treating climate change as a systemic risk to the financial system.

 Vietnam Tells U.S. It Won't Weaken Currency to Boost Exports  

The State Bank of Vietnam has agreed to improve the flexibility of its exchange rate, part of an agreement with the U.S. Treasury to resolve tensions over Vietnam’s widening trade surplus.

 ANZ Plans Up to $1.1 Billion Share Buyback  

Australia & New Zealand Banking Group Ltd. said it plans to buy back shares worth up to $1.1 billion, starting next month.

  

(END) Dow Jones Newswires

July 20, 2021 11:15 ET (15:15 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

Source: https://www.morningstar.com/news/dow-jones/202107209917/news-highlights-top-financial-services-news-of-the-day

IBM Stock Climbs As Second-Quarter Earnings Beat Wall Street Views

Kicking off earnings season for big technology companies, IBM (IBM) reported second-quarter results late Monday that beat estimates on the top and bottom lines. IBM stock climbed.

X

The company reported adjusted earnings of $2.33 a share on revenue of $18.7 billion. Analysts expected IBM to report earnings of $2.31 a share on revenue of $18.3 billion, according to FactSet.

IBM stock was up 2.7%, near 141.70, during after-hours trading on the stock market today.

Revenue climbed more than 3% from the year-ago period. That was its second straight quarter of revenue growth and its best showing in more than three years.

IBM Stock: Multiyear Transformation

IBM is in a significant multiyear transformation that has focused on developing and expanding what the company calls an open hybrid cloud platform. The company sees it as a $1 trillion market opportunity. A hybrid cloud architecture means IBM can provide its customers with both a public cloud and a private cloud, which gives a company extra network security.

Total cloud revenue in the quarter climbed 13% to $7 billion. Cloud computing is now 38% of total IBM revenue.

“In the second quarter client adoption of our hybrid cloud platform contributed to strong performance in Global Business Services and software and drove improved overall revenue growth,” IBM Chairman and Chief Executive Arvind Krishna said in written remarks with the IBM earnings release. “We are pleased with our progress and we remain on track to deliver full-year revenue growth and meet our cash flow objective.”

IBM is also in the process of spinning off its $19 billion managed infrastructure business. That will allow IBM to focus more intently on cloud computing and artificial intelligence. The spinoff is expected to be completed by year-end.

IBM stock is up 10.5% this year.

Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets.

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IBM is in a significant multiyear transformation that has focused on developing and expanding what the company calls an open hybrid cloud platform. The company sees it as a $1 trillion market opportunity. A hybrid cloud architecture means IBM can provide its customers with both a public cloud and a private cloud, which gives a company extra network security.

Source: https://www.investors.com/news/technology/ibm-stock-climbs-on-quarterly-earnings-beat/