Asbury Automotive Group, Inc. (NYSE: ABG), one of the U.S.’ largest automotive retail and service companies, has agreed to buy Jim Koons Automotive Companies, the ninth largest privately-owned dealership group in the U.S., in one of the most sizable deals in auto retail history. The deal, which is expected to close in the fourth quarter…
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Autonomy to acquire EV Mobility LLC and expand its electric car-sharing business
Autonomy, the nation’s largest electric vehicle subscription company, has announced that it will acquire the technology, assets and customer accounts of EV Mobility, LLC., the leading all-electric vehicle car-sharing platform. The deal will allow Autonomy to offer flexible access to an EV to anyone with a valid driver’s license, credit card, and smartphone, and to…
Roblox Evolves into Thriving Virtual Community at RDC 2023
Roblox, originally a gaming platform and creation service, has transformed into a bustling virtual community. At the annual developer conference, RDC 2023, the company unveiled several exciting updates geared towards enhancing user content creation. In a recent blog post, Roblox disclosed that by the end of June 2023, a staggering 65.5 million users engaged with…
Russia ships first oil cargo to Brazil amid Western sanctions
Russia has found a new market for its crude oil in Brazil, after facing difficulties in selling its fossil fuels to Western countries due to sanctions and price caps. According to Oilprice, the first shipment of 650,000 barrels of Varandey crude oil, a light and sweet blend, left the Murmansk port on an Aframax tanker…
Kroger agrees to sell more than 400 stores to C&S as part of Albertsons merger
To secure regulatory approval for its planned $25-billion acquisition of Albertsons, Kroger announced on Friday that it would sell more than 400 of its grocery stores to C&S Wholesale Grocers. The deal would bring Kroger about $1.9 billion in cash. Kroger said it might also need to divest up to 237 additional stores in some…
AI drug discovery startup Noetik secures $14 million in seed funding
SAN FRANCISCO: Noetik, a pioneering AI drug discovery company headquartered in San Francisco, has achieved a significant milestone by raising $14 million in seed funding. The company is dedicated to advancing precision therapeutics within the field of immuno-oncology, a vital area of cancer treatment. Leading the funding round is DCVC, a well-established venture capital firm…
San Francisco’s Certa raises $35 million in Series B funding to fuel global expansion
SAN FRANCISCO: Certa, the all-in-one third-party management platform based in San Francisco, has successfully secured $35 million in Series B funding, marking a significant milestone in the company’s growth. This oversubscribed funding round has propelled Certa’s total institutional investment to an impressive $50 million. Leading the Series B round were prominent investors, including Fin Capital,…
CLARA Analytics raises $24 million in Series C funding
A Series C funding round of $24 million has been raised by CLARA Analytics, an AIaaS company that helps insurance claims professionals optimize outcomes. The round was led by Spring Lake Equity Partners, a new investor that focuses on technology-oriented companies. The existing investors also joined the round, bringing CLARA’s total funding to $60 million….
UK rejects immigration changes for India trade deal, says PM’s office
LONDON: British Prime Minister Rishi Sunak’s office has ruled out any changes to the UK’s immigration policy as a condition for a free trade agreement with India, according to Reuters. The spokesperson of Sunak said that the prime minister thinks that the current migration levels are too high and that there are no plans to…
Aldi announces ambitious expansion with 500 new UK stores
Aldi, the discount supermarket chain, revealed its bold strategy to introduce 500 additional stores across the United Kingdom on Thursday. This announcement coincided with the grand opening of the company’s 1,000th store in the town of Woking, Surrey. The decision to expand Aldi’s footprint comes in response to surging demand for the store’s budget-friendly offerings….
Inceptive raises $100 million to revolutionize drug and vaccine design with AI
PALO ALTO: Inceptive, a pioneering startup dedicated to harnessing the power of artificial intelligence for the development of innovative drugs and vaccines, has successfully secured a substantial $100 million in funding. Co-founded by former Google AI researcher Jakob Uszkoreit, a trailblazer in Google’s generative AI efforts, Inceptive is headquartered in Palo Alto. The company’s mission…
UK to Rejoin EU’s Horizon Research Scheme and Copernicus Project
LONDON: In a significant development, the UK government has officially announced its reentry into the renowned EU science research initiative, Horizon. Effective immediately, scientists and research institutions based in the UK will once again be eligible to apply for funding from this flagship European scheme. Additionally, the UK will regain access to the Copernicus project,…