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Showing posts from September, 2020

Asana is valued at $5.5 billion after direct listing debut

Workplace management software maker Asana attained a market value of about $5.5 billion after a direct listing , one of two Wednesday to go public via the initial public offering alternative. Shares of San Francisco-based Asana, which didn’t sell any shares, opened trading in New York at $27 apiece and closed up 6.7% from that price at $28.80 a share. The $5.5 billion valuation is based on a fully diluted share count. Palantir Technologies, the data-mining company founded by billionaire Peter Thiel, also went public via a direct listing on Wednesday, with its shares falling 5% from its opening price to $9.50 a share. Only two major companies had previously gone public through direct listings, Spotify Technology SA in 2018 and Slack Technologies Inc. last year. Asana, whose founders include Facebook co-founder Dustin Moskovitz, was valued at $1.5 billion in a 2018 funding round led by Al Gore’s Generation Investment Management. More recently, it has fetched a valuation of about $5
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Forterra Announces Rating Upgrade by Moody’s

IRVING, Texas, Sept. 30, 2020 (GLOBE NEWSWIRE) -- Forterra, Inc. (“Forterra” or “the Company”) (NASDAQ: FRTA), a leading manufacturer of water and drainage infrastructure pipe and products in the United States and Eastern Canada, today announced that on September 29, 2020, Moody’s Investors Service (“Moody’s”) upgraded Forterra Finance, LLC (a subsidiary of Forterra)’s Corporate Family Rating (“CFR”) to B1 from B3, Probability of Default Rating (“PDR”) to B1-PD from B3-PD and senior secured ratings to B2 from B3. Moody’s also upgraded the Speculative Grade Liquidity Rating to SGL-2 from SGL-3. The outlook remains stable. Read More from Financial Post https://ift.tt/30m75AR
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Tesla is trying to mine its own lithium

Tesla secured its own lithium mining rights in Nevada after dropping a plan to buy a company there, according to people familiar with the matter. The automaker held discussions in recent months with Cypress Development Corp., which is seeking to extract lithium from clay deposits in southwest Nevada, but the parties didn’t reach a deal, the people said, asking not to be named because the information isn’t public. The electric car maker, which has vowed to slash its battery costs by 50%, instead focused on the plan that Chief Executive Officer Elon Musk outlined last week to dig for lithium on its own in the state. Producing lithium from clay has so far proven difficult and costly. No company has been able to produce commercial quantities using the practice. But a push into mining is at the center of Tesla’s plan to cut battery costs and deliver on a promise to bring a $25,000 electric car to market. Musk told  investors last week  that Tesla has secured access to 10,000 acres of lith
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Celebrate Canada’s First National Shawarma Day* With Osmow’s on October 15 Osmow’s™ Puts New and Official National Shawarma Day on the Calendar, Inviting Canadians to Carve Time for Beloved Middle Eastern Rotisserie Meals With Osmow’s National Shawarma Day $5 Special

TORONTO, Sept. 28, 2020 (GLOBE NEWSWIRE) -- Canada’s most popular Middle Eastern and Mediterranean fast, fresh eatery Osmow’s™ officially declares October 15, 2020 as the country’s first annual National Shawarma Day.  Read More from Financial Post https://ift.tt/3cFCPpR
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Millrock Reports Update on Drilling, 64North Gold Project, Alaska

The locations of the holes drilled so far this year on the West Pogo Block are shown in Figure 1, along with the locations of the Echo, Reflection, and Aurora target areas. Also depicted are the locations of the Pogo Mine and the Goodpaster deposit situated on claims owned by Northern Star Resource Ltd (“Northern Star”). Northern Star recently indicated that it intends to perform delineation drilling at Goodpaster with a $21 million budget in the coming year, and work is now underway. Read More from Financial Post https://ift.tt/3kWzZzq
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USDA funds $1 mln research project studying COVID-19 in U.S. beef supply chain

CHICAGO -- The U.S. Department of Agriculture is funding a $1 million research project to identify how the virus that causes COVID-19 might be transmitted in the nation's beef supply chain, from cattle on the farm to the packages of meat inside a person's refrigerator. Read More from Financial Post https://ift.tt/30aYLnv
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COVID showed why we need to make financial literacy a national priority

As the COVID-19 pandemic continues to upend our lives, Americans are facing issues they couldn’t have imagined even months ago. What started as a health threat quickly morphed into something much bigger, not just impacting our physical well-being but also wreaking havoc on our financial health as well. Tragically, those who were most vulnerable to begin with have been hit the hardest. Many in marginalized communities who were struggling before the pandemic are now bearing the brunt of the pain. And as our nation reckons with questions of social injustice, it’s clear that too many Americans have been left out and let down. Our country’s lack of financial literacy has contributed to this crisis—and now, as so many Americans face unprecedented financial stress, we must make financial literacy a national priority.  Increasingly, Americans agree. In fact, two-thirds of Americans believe that financial education should be a high school graduation requirement . When our survey respondents
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Amazon debuted a long list of products today. Here are 3 standouts

Our mission to help you navigate the new normal is fueled by subscribers. To enjoy unlimited access to our journalism,  subscribe today . Amazon introduced several new products on Thursday, ranging from upgraded versions of its flagship Echo Internet-connected speakers to an indoor surveillance drone. The online retail giant’s  unveilings on Thursday underscores Amazon’s self-described “ambient home” strategy. It’s another way of describing the “ smart home ,” in which household appliances and home entertainment equipment are wirelessly tethered together via the Internet. For technology giants like Amazon and Google , it’s a potentially lucrative market. In addition to selling the devices themselves, the companies collect data about how people use the devices and what they do in their homes. That information is a marketer’s gold mine that could help the companies better target customers with ads or suggest products they’re likelier to buy. It can also help the companies decide whic
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Corporate leaders strive to make allyship a real thing at work

It has been a momentous year for tackling issues of social justice in the workplace—one that has seen those not directly impacted by issues of racial and gender inequality look to step up to the plate as allies to the cause. But being an ally is easier said than done, and Fortune gathered a group of women well-versed in what it should mean and what it should look like to kick off the virtual, 2020 edition of the Most Powerful Women Summit on Thursday. “Being a good ally is about taking concrete steps to turn your good intentions into actions,” Carin Taylor, chief diversity officer at Workday , said in her introductory remarks for the panel, entitled “Allyship and Accountability: It’s a Marathon, Not a Sprint.” Allyship, Taylor added, is about “taking a stand for those who may have a smaller voice” in a given organization and “driving equity for everyone.” The three panelists, moderated by Fortune senior editor Ellen McGirt, further expounded on that idea and what good allyship ent
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COVID and the flu present a clash of viruses

Good afternoon, readers. It’s that time of year again. Yes, the time of year when public health experts bug you to get your flu shot . We all know that the flu shot isn’t perfect. Sure, you may still get influenza after getting your yearly jab. Sure, its effectiveness varies wildly from year to year given that the flu virus mutates. But the pathogen still kills tens of thousands of people every year —one of the main reasons that those trying to downplay the coronavirus risk have compared that virus to influenza. This year, however, COVID has already claimed more than 200,000 American lives in a far shorter timeline than what we see from the flu. And as we step towards October, flu season will rear its head again as the coronavirus pandemic continues to rage unabated. That’s a problem on multiple fronts. For one thing, it might be difficult to distinguish who has the flu and who has COVID. Hospitals may continue to see surging cases of both diseases which can drain their resources
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FTI Announces Additions to Product Lineup of Personal Protective Equipment (PPE) in Online Store

TORONTO, Sept. 24, 2020 (GLOBE NEWSWIRE) -- (TSX Venture:FTI) FTI Foodtech International Inc. ("FTI") announces that it is adding two products - four-layer face masks and antiseptic wipes - to its product lineup of Personal Protective Equipment (PPE) available through its online store at fti.ppebrand.com . Interest in this product category continues as the prevalence of COVID-19 continues.   Read More from Financial Post https://ift.tt/3mMrB7s
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Brazil to join COVAX vaccine facility, earmarks $454 million

BRASILIA -- Brazilian President Jair Bolsonaro will issue decrees laying the legal groundwork for Brazil to join the global COVID-19 vaccine partnership known as COVAX and earmarking 2.5 billion reais ($453.8 million) for securing vaccines through the facility, his office said on Thursday. Read More from Financial Post https://ift.tt/365bmMT
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Trump signs U.S. healthcare executive orders that may have little impact

CHARLOTTE -- U.S. President Donald Trump on Thursday signed two executive orders on healthcare for Americans that lawyers said will carry little weight, as the president seeks to boost his flagging credibility with voters on the hot-button issue ahead of the Nov. 3 presidential election. Read More from Financial Post https://ift.tt/3cvxvoO
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Presidential Candidate Brock Pierce Testifies Before Wyoming Legislature on Blockchain Banking

Laramie, Wyoming, Sept. 24, 2020 (GLOBE NEWSWIRE) -- (via Blockchain Wire ) Independent candidate for President of the United States, Brock Pierce, was at The President's House on the University of Wyoming campus this morning to testify via a video link before the Wyoming State Legislature on the topic of blockchain banking.  Read More from Financial Post https://ift.tt/3j4Od0A
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Brazil to join COVAX vaccine facility, earmarks $454 million

BRASILIA -- Brazilian President Jair Bolsonaro will issue decrees laying the legal groundwork for Brazil to join the global COVID-19 vaccine partnership known as COVAX and earmarking 2.5 billion reais ($453.81 million) for securing vaccines via the facility, his office said on Thursday. Read More from Financial Post https://ift.tt/3kKrEi9
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Aberdeen Announces AGM Results

TORONTO, Sept. 24, 2020 (GLOBE NEWSWIRE) -- Aberdeen International Inc. (“Aberdeen” or the “Company”) (TSX: AAB) reports, in accordance with the policies of the Toronto Stock Exchange, that the nominees listed in the management proxy circular dated August 24, 2020 for the 2020 annual meeting of shareholders of Aberdeen held on September 24, 2020 (the “Meeting”) were elected as directors of the Company. Shareholders at the Meeting also approved the appointment of the Company’s auditors. Aberdeen management would like to thank shareholders for their participation and continuing support. Read More from Financial Post https://ift.tt/2RW60ev
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U.S. policies created the border and drug crises—and can end them

What would you risk for a better life? That’s a question Central Americans have been grappling with for decades. Most have two choices. They can head north in search of that better life in the U.S. Or they can seek economic opportunity in the only industries thriving in the region—organized crime and narcotics trafficking. U.S. policies are largely to blame for this dysfunction. For over a century, the U.S. government has supported Central American neocolonial dictatorships, whose rampant corruption has destroyed local economies. For example, the U.S. last year sent more than $162 million in aid to Honduras , whose dubiously elected President the U.S. Attorney’s Office for the Southern District of New York has connected to drug trafficking . The good news is that better U.S. policy—one that more directly engages our Central American neighbors—can help solve these crises. Consider the dramatic uptick in the number of adults and children, particularly from Guatemala, Honduras, and El
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Pebble Partnership CEO resigns after secret tapes released

The chief executive of Pebble Limited Partnership, the company trying to develop Alaska's Pebble Mine project, resigned on Wednesday after his comments on elected and regulatory officials in the U.S. state were covertly videotaped and released by an environmental activist group, its Canadian parent said. Read More from Financial Post https://ift.tt/2FOkzP4
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Covid times: What the tractor-sales boom signals

There are many reasons for rising tractor sales in eastern India. Due to the MGNREGA and inflationary pressures, the floor wage rate could be high enough for farmers to foresee the benefits of investing in tractors. Also perhaps the bumper rabi crop from the previous season handed farmers enough cash to invest in tractors from The Financial Express https://ift.tt/2RS6zWU
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Tesla’s Elon Musk promises dramatic cuts in electric car costs, shares plunge

CEO Elon Musk outlined Tesla Inc's plans to cut electric vehicle battery design and manufacturing costs so radically that a $25,000 car that drives itself will be possible, but the automaker's shares tumbled as Musk forecast the change could take three years or more. Read More from Financial Post https://ift.tt/3j11A28
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Alberta’s recovery depends on innovation in both traditional and emerging sectors 

Between the COVID-19 pandemic and the crash in oil markets, Albertans have felt the pain of economic turmoil more than most. Twelve years ago, Alberta’s energy sector drove Canada’s recovery from the Great Recession. Today, a supply/demand imbalance has led to a collapse in oil prices, and it’s unclear when or if the demand will come back to pre-COVID levels, putting enormous pressure on the government to design new prosperity strategies. Read More from Financial Post https://ift.tt/3hROOS2
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Railway freight: Taking the track less travelled

The heart of the Indian Railways’ freight strategy should be the creation of high-volume, high-speed freight corridors, with critical mass carried in train loads. It needs to create this critical mass in partnership with other players—given roads’ role in first-/last-mile connectivity, road transport must be brought in as a partner. from The Financial Express https://ift.tt/3ch7DwD
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Looking to a buy a car? A national shortage means you’ll probably pay more

Car sales plummeted in the spring , causing shipment lots to overfill and forcing cargo ships to hold new vehicles at sea for weeks . And with few sales and facing state shutdown orders, auto manufacturers like Ford Motor and General Motors halted production lines . It was starting to look like another automotive crisis. But fast-forward to August, where monthly vehicle sales were nearly 1.4 million—matching pre-pandemic sales of February and almost double the 745,353 vehicle sales in April. That’s what you call a V-shaped recovery. The rebound was so fast that new and used vehicles skipped right from oversupply to shortage—which is driving up prices. The average list price of new vehicles in August is $39,410, up $807 from May, according to Edmunds.com. While the average price in August for used vehicles is $21,843, up $920 from May. “In the second quarter, every major auto manufacturer shut down production—for the first time since World War II—which led to inventory shortages th
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Supreme Court Justice Ruth Bader Ginsburg dies at 87

Supreme Court Justice Ruth Bader Ginsburg, a diminutive yet towering women’s rights champion who became the court’s second female justice, died Friday at her home in Washington. She was 87. Ginsburg died of complications from metastatic pancreatic cancer, the court said. Ginsburg announced in July that she was undergoing chemotherapy treatment for lesions on her liver, the latest of her several battles with cancer. Ginsburg spent her final years on the bench as the unquestioned leader of the court’s liberal wing and became something of a rock star to her admirers. Young women especially seemed to embrace the court’s Jewish grandmother, affectionately calling her the Notorious RBG, for her defense of the rights of women and minorities, and the strength and resilience she displayed in the face of personal loss and health crises. Those health issues included five bouts with cancer beginning in 1999, falls that resulted in broken ribs, insertion of a stent to clear a blocked artery and
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NBC reaches deal with Roku over Peacock app, avoiding blackout

NBCUniversal reached a deal to have its Peacock service carried on Roku Inc. devices, adding potentially millions of viewers after agreeing to share advertising revenue. Earlier Friday, NBC had threatened to stop delivering content to more than 11 of its apps on Roku by Saturday morning, escalating a standoff with the company over its refusal to carry Peacock. But on Friday afternoon, an NBCUniversal spokesman said the two companies had reached an agreement that would keep NBC’s apps on Roku and ensure that Peacock will gain a spot on the platform. A representative for Roku confirmed the truce, calling it “an expanded, mutually beneficial relationship.” Terms weren’t disclosed, but Roku said the deal included “a meaningful partnership around advertising” — a key element of the dispute. Roku had been seeking, among other things, a cut of the advertising inventory on those apps to sell on its own. Comcast Corp.’s NBC and AT&T Inc.’s HBO Max — another service that has been frozen
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With Trump’s WeChat ban approaching, here are several alternatives

Our mission to help you navigate the new normal is fueled by subscribers. To enjoy unlimited access to our journalism,  subscribe today . WeChat, China’s most popular app, faces an imminent ban in the U.S. , leaving many of its users in a bind. The White House said Friday it would prohibit WeChat , owned by Beijing-based Tencent, from appearing in U.S. app stores starting Sunday at midnight.  Though WeChat has a comparatively minor U.S. presence, it remains a major conduit for communications between Chinese nationals living abroad and their friends and family back home . The app has an average of 19 million million daily active users in the U.S. versus more than a billion worldwide.  WeChat, called Weixin in China, is effectively the operating system for people’s digital lives in China. They use it to pay for services, hail cabs, go shopping, read news, chat, and more. For people seeking to bridge the digital divide between the U.S. and China, WeChat is not easily replaced. China’
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