Israeli auto-tech co Otonomo in SPAC merger talks - report
The Herzliya-based connected car data platform is in talks with Software Acquisition Group to list on Nasdaq, Bloomberg reports.
Israeli auto-tech company Otonomo is in talks to list on Nasdaq through a merger with special purpose acquisition company (SPAC) Software Acquisition Group Inc. II (Nasdaq: SAII), a person with knowledge of the matter has told Bloomberg.
Herzliya-based Otonomo has developed a data platform linked to 22 million connected cars through four billion data points. The data is used for emergency services, mapping, parking and predictive maintenance, and partners include BMW AG, Daimler AG, Mitsubishi Motors Corp. and Mercedes-Benz.
GameStop Mania Goes Global as Retail Traders Gang Up on Shorts Bloomberg 1/28/2021
(Bloomberg)
The market drama surrounding GameStop Corp. is spreading ever further beyond Wall Street, whipsawing stocks from Amsterdam to Sydney as traders race to bet on where the flood of retail money might head next.
Heavily shorted companies have become the biggest targets, after an epic short squeeze in GameStop helped drive up the stock more than 400% this week. In Europe, short-seller favorites including Unibail-Rodamco-Westfield jumped 20% or more. E-commerce giant Rakuten Inc. and baby-care goods maker Pigeon Corp. climbed at least 6.9% in Tokyo on Thursday.
The GameStop effect has also played out in different ways. Day traders in India have been piling into shares of the video-game retailer, which accounted for about 15% of volume on one popular platform allowing locals to bet on U.S. equities. An Australian company with “GME” in its ticker symbol jumped as much as 60% on Thurs
Jan 28, 2021
After two years of faltering sales and fallout from the 2018 arrest of then-Chairman Carlos Ghosn, Nissan Motor Co.’s newly installed management is at another crossroads: how to get Japan’s second-largest automaker out of a rut and beyond the shadow of the disgraced executive who drove its strategy for decades.
It’s a tall order, particularly considering Nissan’s hefty pile of debt, around ¥8.3 trillion ($80 billion) double what it had 10 years ago lackluster showing in Europe, and U.K. factory supply chain woes.
Nissan is also facing unparalleled competition, especially in the realm of advanced autonomous driving. The automaker spends only about half of the ¥1 trillion that Toyota Motor Corp. outlays annually on research and development and carmakers in general lag behind capital-rich tech firms like Alphabet Inc., which has spent more than $1 billion on self-driving technology via subsidiary Waymo LLC.
Nissan hopes to spend a lot of money on technology with debt
News Highlights: Nissan hopes to spend a lot of money on technology with debt
After two years of faltering sales and fallout from then-Chairman Carlos Ghosn’s arrest in 2018, the newly installed Nissan Motor Co. finds itself at another crossroads: how to get Japan’s second-largest automaker out of its rut and beyond the shadow of the disgraced executive power that drove its strategy for decades.
It’s quite a challenge, especially given Nissan’s massive debt, about ¥ 8.3 trillion ($ 80 billion) – double what a decade ago – mediocre results in Europe and supply chain issues in the UK.
Toyota Motor Corp. group ranked top in global auto sales in 2020 for the first time in five years on a robust pickup in sales in China and the United States, overtaking Volkswagen AG of Germany, data showed.