Louis Allen
Louis Allen is a recent graduate from Murdoch University in Western Australia having studied a combined degree of journalism and communications. He has a keen interest in mining and technology, as well as other key areas of the market.
Thoma Bravo adds to growing portfolio with $8b Coupa Software acquisition
American software investment firm Thoma Bravo has announced yet another acquisition – snapping up Coupa Software (NASDAQ: COUP) in an all-cash $8 billion deal. The deal values Coupa at $81 a share, which is a 77% premium on the company’s share price on last day of trading on 22 November. Experts believe the premium offered […]
US President Biden creates history with federal marijuana research bill
United States President Joe Biden has officially signed a marijuana research bill into law, becoming the first piece of standalone federal cannabis reform legislation in the nation’s history. The White House confirmed on Friday that President Biden signed the Medical Marijuana and Cannabidiol Research Expansion Act. Congressman Blumenauer’s endorsement of the bill was joined by […]
Lyft and Motional announce plans to launch robotaxi service in Los Angeles
US ride-sharing platform Lyft (NASDAQ: LYFT) and driverless technology company Motional have announced plans to launch a robotaxi service in Los Angeles. Both parties confirmed the news that Los Angeles’ residents will soon be able to book robotaxis on the Lyft app, but for now, when that will be remains unclear. The plans have been […]
IBM unveils its most powerful quantum computer yet: Osprey
As US multinational technology giant International Business Machines Corporation (NYSE: IBM) sets its sights on taking another massive leap, it has unveiled its most powerful quantum processor to-date: Osprey. IBM’s newest Osprey machine boasts 433 quantum bits (qubits) – three times that of its Eagle machine, which was released last year. Osprey also contains more […]
Ritchie Bros makes play worth $7.3b for IAA, share price plummets
Canada’s Ritchie Bros Auctioneers (NYSE: RBA) has agreed to buy US-based vehicle marketplace Insurance Auto Auctions (IAA), in a deal worth around US$7.3 billion. The multi-billion dollar deal will expand Ritchie Bros’ presence in the growing market of heavy machinery and equipment, salvaged cars, trucks and motorcycles, as well as auto parts. Ritchie Bro’s share […]
Walgreens-backed VillageMD to buy Summit Health
Walgreens (NASDAQ: WBA) majority-owned VillageMD has announced it is acquiring Summit Health-CityMD to create one of the largest independent provider groups in the US. The deal announced on Monday is worth US$8.9 billion, and will expand the nation’s second-largest pharmacy store chain Walgreen’s reach into primary, specialty and urgent care. Together, VillageMD and Summit Health-CityMD […]
Equinor continues energy transition plan with acquisition of Danish solar developer BeGreen
Norwegian energy company Equinor (NYSE: EQNR) has agreed to buy Denmark-based leading solar developer BeGreen for an undisclosed amount. Equinor continues to develop its own solar projects in Poland, Brazil and Argentina, but with the acquisition of Bregentved’s BeGreen, will add Denmark, Sweden and Poland to the growing list. BeGreen has developed, sold and delivered […]
Pacific Biosciences announces launch of two new gene-sequencing systems
US biotech company Pacific BioSciences of California (PacBio) (NASDAQ: PACB) has joined a number of next-generation sequencing (NGS) launches this year, having announced its own upcoming release of two new sequencing systems. The California-based company announced the news at the American Society of Human Genetics (ASHG) conference, suggesting the new gene-sequencing systems were more affordable […]
BP to buy US renewable natural gas company Archaea Energy in US$4.1b deal
Multinational oil and gas giant BP (LSE: BP) has announced plans to acquire renewable natural gas (RNG) company Archaea Energy (NYSE: LFG), in a deal estimated to be worth US$4.1 billion. RNG, otherwise referred to as biogas, is generated from organic waste in landfills of farms. The deal between BP and Achaea marks the largest […]
QCI to build new quantum optical chip facility with aid of government funding
Quantum Computing (QCI) (NASDAQ: QUBT) plans to construct and operate a new state-of-the-art quantum optical chip facility in an effort to expand upon its current development capabilities. The company hopes to benefit from the newly passed US federal CHIPS and Science Act of 2022, which has set aside US$52 billion for semiconductor manufacturing efforts in […]
US advisory firm files ETF to trade inverse to Jim Cramer’s investment advice
US-based advisory company Tuttle Capital Management plans to launch two exchange traded funds (ETFs) that trade on stock tips of the media personality Jim Cramer – with one that goes long and one that goes short. The advisory company filed the proposed ETFs with the US Securities and Exchanges Commission earlier this week. Tuttle Capital’s […]
Biden pardons thousands convicted of marijuana possession in move toward decriminalization
United States President Joe Biden has edged closer to decriminalizing marijuana in the country after announcing he’s pardoning thousands of Americans who have been convicted of “simple possession” of marijuana. Biden said his move comes from the belief that “no-one should be in jail just for using or possessing marijuana”. While the White House confirmed […]
Adobe acquires rival design company Figma for US$20b
American software giant Adobe (NASDAQ: ADBE) has acquired rival online collaborative design software company Figma, in a deal estimated to be worth US$20 billion. The software giant’s acquisition will expand its collaboration-focused offerings, embracing Figma’s expanding client base, while also eliminating a significant threat to the company. Along with its Dreamweaver, Adobe XD, Adobe Reader […]
Billionaire investor Ray Dalio warns stocks could drop another 20% with further interest rate rises
American billionaire investor and hedge fund manager Ray Dalio has predicted stocks could drop by around 20% as the US Federal Reserve raises interest rates aggressively in a bid to curb inflation. The founder of one of the world’s biggest hedge funds Bridgewater Associates Mr Dalio issued the warning recently in a social media post, […]
Lilium Air Mobility seeks grants to help build 400 air taxis a year
German air taxi developer Lilium Air Mobility (NASDAQ: LILM) has announced plans to set up industrial capacity with the aim of making around 400 of the company’s Lilium jet flying shuttles a year. Lilium chief executive officer Klaus Roewe confirmed the news, saying the company also plans to tap into schemes providing public research support. […]
Direct Communication Solutions posts strong revenue growth, as senior US Exchange listing nears
California-based Direct Communication Solutions (OTCQX: DCSX) (CSE: DCSI) (FSE: 7QU) has posted strong growth in revenue for the second quarter of 2022 (Q2 2022) — bolstering the company’s status as a leading provider of information technology solutions within the Internet of Things (IoT) market. In 1H 2022, Direct Communication’s six-month revenue reached US$13.6 million (C$17.7 […]
Tritium opens first US EV fast-charger manufacturing facility in Tennessee
Australia-founded electric vehicle (EV) fast charger manufacturer Tritium (NASDAQ: DCFC) has open the doors to its first US-based facility in Lebanon, Tennessee, as part of its expansion efforts across the US and other regions. The Tennessee facility will host six production lines, with a production capacity of up to 30,000 DC fast-charger units per year […]
Tesla completes expansion plans to boost production capacity at Gigafactory Shanghai
US electric car manufacturing giant Tesla (NASDAQ: TSLA) has completed an expansion project at its Gigafactory Shanghai, which will boost production capacity, allowing the company to produce 22,000 units of Model 3 and Model Y cars per week at the factory during its peak. While Tesla hasn’t yet made an official announcement, the latest was […]
US judge allows UnitedHealth’s $7.8b acquisition of Change Healthcare to move forward
US healthcare and insurance giant UnitedHealth Group (NYSE: UNH) has welcomed the news that a federal judge has allowed its acquisition of Change Healthcare (NASDAQ: CHNG) to move forward – nearly two years after the all-cash deal was first tabled. UnitedHealth announced the deal in January 2021 to help streamline administrative and payment processes. The […]
FREYR Battery inks deal with UK-based Mpac to deliver cell manufacturing equipment for flagship facility
FREYR Battery (NYSE: FREY) has secured a framework agreement with UK-based packaging and automation company Mpac Group PLC (LSE: MPAC). Mpac will exclusively supply cell manufacturing equipment for FREYR’s 29-gigawatt-hour flagship Giga Arctic facility in Norway. It is expected Mpac will help enable lower-cost and more sustainable lithium-ion battery production at FREYR’s facility. Initially, the […]