Tag: billion
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Outside spending eclipses $1 billion in the presidential race, setting a new record
Outside groups have poured an astounding $1.1 billion into the presidential race with less than two weeks to go before Election Day, an NBC News analysis found, surpassing the record set during the 2020 election. That figure includes spending from super PACs and other groups not directly affiliated with the candidates’ campaigns and party committees…
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Lucid CEO says Wall Street misinterpreted $1.75 billion capital raise
DETROIT — Investors misinterpreted a public offering last week by Lucid Group that raised roughly $1.75 billion — and led to the stock’s worst daily performance in nearly three years — CEO Peter Rawlinson told CNBC. Rawlinson said the raise, which included a public offering of nearly 262.5 million shares of its common stock, was a timely, strategic business…
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NFL stadiums could experience $11 billion in climate-related losses by 2050, a new report finds
Hurricane Milton’s damage to Tropicana Field in Tampa, Florida, was so devastating it likely means the Tampa Bay Rays will be looking for another place to play ball for opening day next spring. Like many baseball stadiums around the country, Tropicana Field’s geographic location makes it vulnerable to hurricane winds or tornado-force winds, hail, storm surge and…
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Boeing to raise as much as $25 billion to shore up balance sheet
Boeing said Tuesday that it could raise as much as $25 billion in shares or debt over three years, a move to increase liquidity as the troubled manufacturer faces a more than monthlong machinist strike and problems throughout its aircraft programs. “This universal shelf registration provides flexibility for the company to seek a variety of capital options as…
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IRS vows to race $TK billion in delayed Covid aid to hurricane-hit businesses
Small business owners in the Southeast who’ve been waiting for long-delayed pandemic aid are pushing for that money to recover from this fall’s brutal hurricane season. The federal government says more of it is heading their way soon. Around 400,000 claims worth $10 billion are now being processed for eligible business owners who applied for…
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TD Bank pleads guilty in money laundering case, will pay $3 billion in penalties
TD Bank pleaded guilty Thursday in a criminal money laundering case and agreed to pay a whopping $3 billion in fines and other penalties to the Department of Justice and federal financial regulators for failing to monitor money laundering by drug cartels. As part of the deal, TD Bank, whose U.S. unit is the 10th-largest American bank by assets, is…
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Harris’ political operation crosses $1 billion raised for the 2024 election
Vice President Kamala Harris‘ presidential campaign operation crossed the $1 billion fundraising threshold in September, two months after she took over as the Democratic Party’s 2024 standard bearer, according to two people familiar with the numbers. That figure includes money raised by the campaign committee itself and by a campaign-affiliated joint fundraising committee that also…
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OpenAI closes funding at $157 billion valuation, as Microsoft, Nvidia, SoftBank join round
OpenAI has closed its long-awaited funding round at a valuation of $157 billion, including the $6.6 billion the company raised from an extensive roster of investment firms and big tech companies. While OpenAI didn’t name the investors in Wednesday’s press release, a person with knowledge of the matter said the round was led by Thrive…
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PepsiCo to buy tortilla chip maker Siete Foods for $1.2 billion
PepsiCo said Tuesday that it’s buying Mexican American food company Siete Foods for $1.2 billion, marking the company’s first food acquisition in roughly five years. Like many food companies, Pepsi has been trying to shift its portfolio to include healthier options in recent years, usually through acquisitions. Recent additions include Bare Snacks, Health Warrior and PopCorners.…
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Microsoft’s mammoth AI bet will lead to over $100 billion in data center leases
As Microsoft investors get ready for quarterly earnings this month, there’s one particular metric that’s become increasingly important: finance leases. A finance lease lets a company pay for an asset over years, rather than all upfront. For companies like Microsoft that are building massive data centers to handle artificial intelligence workloads, shareholders have to get used to…