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BorgWarner Inc. BWA, +2.06% announced Tuesday and equity transfer agreement to buy the electric vehicle (EV) charging business of China-based Hubei Surpass Sun Electric (SSE) in a deal valued at up to RMB410 million ($58.5 million). The deal includes RMB267 million to be delivered around the closing, which is expected to occur in the first […]
Amazon.com Inc. AMZN, +0.91% said Tuesday it has signed an agreement with Infinium to add low carbon electrofuels to its trucking fleet starting in 2023. The company Infinium will provide enough electrofuels — s fossil-based fuel alternative created with carbon waste and renewable power — to power about 5 million miles of travel a year. […]
Merck MRK, -1.23% said Tuesday it is launching a new Phase 3 trial of once-daily islatravir for the treatment of people with HIV-1 infection. “These new Phase 3 studies will evaluate a once-daily oral combination of doravirine 100 mg and a lower dose of islatravir (DOR/ISL),” the company said in a statement. Certain participants currently […]
Shares of Ouster Inc. OUST, -1.69% jumped 1.7% in premarket trading Tuesday, to bounce off the previous session’s record closing low, after the provider of lidar sensors for the automotive and robotics industries announced a plan to cut costs by 15%. As part of the plan, the company said it will reduce its workforce by […]
The United States Federal Reserve’s inflation “sledgehammer” is about to batter the prices of Bitcoin (BTC) and Ether (ETH) down even further, before reaching back to new all-time highs in 2025, according to Bloomberg analyst Mike McGlone. Ahead of the latest Fed interest rate hike to be announced this week, the market is expecting a […]
Chamath Palihapitiya, backer of the Social Capital Hedosophia Holdings Corp. special-purpose acquisition corporations, or SPACs, said Tuesday he is winding down the two vehicles numbered IV IPOD, +0.20% and VI IPOF, +0.10% after failing to find a target company to acquire within the given time frame. In a regulatory filing, Palihapitiya, known as the ‘SPAC […]