Elon Musk has refuted media reports claiming SpaceX is raising capital at an $800 billion valuation, calling the stories “inaccurate.” Musk clarified on X that SpaceX has been cash-flow positive for many years and does semiannual stock buybacks to provide liquidity for employees and existing investors — not to raise new funds. The clarification comes...
Mayflower Acquisition Limited — backed by billionaire investor Noam Gottesman and former Lehman Brothers executives Jeremy Isaacs and Roger Nagioff — has raised $500 million in its London IPO. Key Highlights Why It Matters With IPO markets slow, valuations down, and financing tight, Mayflower aims to capitalize on market dislocation and provide an accelerated path...
The Reserve Bank of India (RBI) cut its repo rate by 25 bps to 5.25% and announced measures to inject up to $16 billion into the financial system, aiming to support growth amid record-low inflation. Key Liquidity Measures Market Impact Economists note the actions signal RBI’s focus on stabilizing G-sec yields and managing FX risks,...
Bank of America announced a major shift in its wealth management strategy:Beginning January 5, advisors at Private Bank, Merrill, and Merrill Edge will be allowed to recommend crypto exchange-traded products (ETPs) to clients — with no asset minimums. Previously, only high-asset clients meeting specific thresholds could access Bitcoin ETFs (since early 2024). This update moves...
Flex, an AI-driven fintech aiming to become a one-stop financial operating system for mid-sized U.S. businesses, has raised $60 million in a Series B round led by Portage Ventures, valuing the company at ~$500 million. This brings Flex’s total equity funding to $105 million. 🔑 What Makes Flex Stand Out? Flex targets America’s “jumbo shrimps”...
Activist investor Jonathan Litt (Land & Buildings), who holds a 1% stake in First Industrial Realty Trust, is urging the company to take decisive actions—asset sales, capital returns, and a board refresh—moves he believes could boost the stock price by 30%. Litt stresses that while he thinks highly of First Industrial’s portfolio and leadership, the...