Tag: billion
GM ups spending on EVs and autonomous vehicles by 30% to $35 billion by 2025 on higher profits
GM, America’s largest automaker, is racing to catch up to Tesla on EVs and become a leader in the space against other well-established automakers such as VW. U.S. News
SoftBank is backing buy-now-pay-later firm Klarna in funding round that values it at over $40 billion
European fintech Klarna is close to securing a new funding round at a valuation of more than $ 40 billion, according to a source familiar with the matter. International: Top News And Analysis
Tesla purchases $1.5 billion in bitcoin — here’s what could happen next
Tesla has announced that it bought $ 1.5 billion in bitcoin and would start accepting the cryptocurrency as payment. Experts weigh in. International: Top News And Analysis
LSE to sell Borsa Italiana stock exchange to Euronext for $5 billion
The London Stock Exchange confirmed it had entered exclusive discussions with Euronext in relation to the sale of the Borsa Italiana group last month. International: Top News And Analysis
IMF announces $50 billion program to fight coronavirus outbreak
Georgieva said on CNBC’s “Squawk Alley” that the money is available “immediately.” International: Top News And Analysis
Amazon’s Jeff Bezos pledges $10 billion to launch Earth Fund for combating climate change
Bezos’s fund will pen grants to scientists, activists and other organizations in their efforts to “preserve and protect the natural world.” U.S. News
Puerto Rico bondholders, oversight board strike $35 billion debt restructuring deal
The deal, which will still need to be approved by the judge overseeing the bankruptcy process, provides for an approximately 30% average haircut for all $ 35 billion. U.S. News
World’s largest hedge fund reportedly bets over $1 billion on a big stock market sell-off soon
The reported wager placed by Bridgewater Associates would pay off for the firm if either the S&P 500 or the Euro Stoxx 50 (or both) decline. U.S. News
Iran’s president says new oil field found with over 50 billion barrels
The announcement by Hassan Rouhani comes as Iran faces crushing American sanctions. World News & Analysis