Vancouver-based Clio, a global leader in AI-powered legal technology, has raised $500 million in fresh capital led by New Enterprise Associates (NEA) — boosting its valuation to $5 billion. The funding underscores the accelerating momentum behind AI tools transforming professional services, as firms seek to automate workflows, reduce costs, and improve decision-making. 🔹 Key Highlights...
Hedge funds’ confidence in global consumer spending has sharply deteriorated, with exposure to consumer discretionary stocks — including hotels, restaurants, and leisure firms — plunging to the lowest levels since the 2020 pandemic, according to Goldman Sachs’ latest hedge flow data. The shift marks a decisive rotation away from sectors tied to household spending power...
Singapore-based Grab Holdings announced a $60 million investment in Berlin-founded Vay Technology, the pioneer of remote-driving (teledriving) systems — sending Grab’s shares up over 6% in pre-market trading. The deal positions Grab at the forefront of autonomous and connected mobility, blending its dominant Southeast Asian ride-hailing platform with cutting-edge driverless tech. 🔹 The Strategic Vision...
SoftBank-backed Klook, one of Asia’s fastest-growing online travel booking platforms, has publicly filed for an initial public offering (IPO) in the United States, marking a major milestone for the post-pandemic travel sector. Klook plans to list on the New York Stock Exchange (NYSE) under the ticker “KLK”, with Goldman Sachs, Morgan Stanley, and J.P. Morgan...
Private-equity powerhouse Permira has reached an agreement to acquire Jersey-based financial services firm JTC for £2.3 billion (≈ $3.09 billion), following a competitive bidding process that drew interest from multiple global funds. Under the deal, JTC shareholders will receive 1,340 pence per share in cash — nearly 50% above the stock’s August 13 closing price,...
Shares of Novo Nordisk climbed 2.6% on Monday after the Danish drugmaker officially withdrew from the $10 billion battle for U.S. biotech Metsera, losing out to Pfizer.Investors welcomed the move, viewing Novo’s earlier offer as overly complex and high-risk. 🔹 Why It Matters Novo’s withdrawal brings relief to shareholders concerned about: “Although Metsera is undoubtedly...