Argo AI, a self-driving vehicle group jointly backed by Ford and Volkswagen, is abruptly shutting down operations after six years of development. Establishing fully driverless technology that is profitable and scalable would cost billions of dollars and take at least half a decade, John Lawler, chief financial officer at Ford, said as the company reported … Read more
In 2022, it’s no surprise that most assets are in a bear market. People have a variety of signals they look for when determining a good time to enter the market, and Cointelegraph Research’s Venture Capital Report for Q2 revealed that VC inflows stagnated at just above $14 billion last quarter, the same as Q1. … Read more
Ronald Martinez/Getty Images News AT&T (NYSE:T) is in early talks to establish a joint venture with an infrastructure partner that would invest billions of dollars in expanding its fiber-optic network, Bloomberg reports. The carrier is working with Morgan Stanley about setting up a JV that would be valued at $10B-$15B, according to the report. AT&T … Read more
BrahMos Aerospace has targeted $5 billion in overseas sales of its supersonic cruise missiles by 2025 The BrahMos Aerospace joint venture between Russia and India aims to single-handedly meet Prime Minister Narendra Modi’s goal of increasing the South Asian country’s annual defense exports to $5 billion by 2025. “We are hoping that BrahMos Aerospace alone … Read more
Binance has been accused by the co-owner of a UK subsidiary of filing a “grossly inaccurate” annual report for one of the British entities associated with the world’s largest crypto exchange. The directors of Dimplx, a UK company formed as part of a joint venture with Binance, said the 2020 financial statements for one of … Read more
The U.S. Department of Transportation has approved the joint venture between Delta Air Lines and Latam, first announced in September 2019, the carriers said Friday. The JV will allow passengers access to more than 300 destinations between the U.S. and Canada and the South American countries of Brazil, Chile, Colombia, Paraguay, Peru and Uruguay. Latam filed for bankruptcy … Read more
The number of companies in the electric air taxi industry will shrink next year as investors tighten their belts amid global economic uncertainty and focus on projects they believe will come to fruition, the chief executive of a Boeing-backed venture has said. “I expect more shakeout next year,” Gary Gysin, chief executive of Wisk Aero, … Read more
shaunl/E+ via Getty Images Valaris (NYSE:VAL) +4.8% post-market after saying it received a $40M payment from its ARO Drilling joint venture, representing a partial early repayment of its shareholder notes receivable. “ARO is an important strategic asset for Valaris, providing a unique partnership with the largest customer for jackups in the world,” Valaris (VAL) President … Read more
Travis Kalanick has quietly built a large food and convenience goods business across Latin America as the Uber founder seeks to capitalise on the region’s fast-growing ecommerce market. The billionaire has rapidly expanded his US-based CloudKitchens start-up by buying and building local “dark kitchens” in Latin America over the past three years as part of … Read more
The transaction for Warner Bros Discovery and BT Sport’s joint sports venture has closed successfully. The conglomerates announced they would combine a few months ago when a deal for Dazn to acquire BT Sports fell through, and BT Sport and its subsidiary Eurosport UK’s assets have now been transferred into the combined 50/50 JV. As … Read more