industrial news
Insurance Technology Firm Hippo to Merge With SPAC in $5B Deal
Text size Hippo Enterprises offers homeowners insurance. Courtesy of Hippo Hippo Enterprises is the latest insurtech to combine with a special purpose acquisition company. On Thursday, Hippo said it was merging with Reinvent Technology Partners Z (ticker: RTPZ) in a deal that values the insurance technology company at $5 billion. Launched in 2015, Hippo offers …
Oscar Health Could Raise $1 Billion in IPO Next Week
Text size A scene inside the Oscar Center in the Brooklyn borough of New York. Kholood Eid/Bloomberg Oscar Health, the insurance-technology company backed by Josh Kushner, is slated to go public early next month, two people familiar with the situation said. Oscar is scheduled to price its deal on March 2, and trade the next …
Dominion Sues MyPillow, CEO Mike Lindell Over Election Claims
WASHINGTON—One of the largest makers of voting machines in the U.S. on Monday sued a prominent supporter of former President Donald Trump, alleging that the businessman had defamed the company with false accusations that it had rigged the 2020 election for President Biden. Dominion Voting Systems sued Mike Lindell, chief executive of Minnesota-based MyPillow Inc., …
When Covid-19 Hit, Mayo Clinic Had to Rethink Its Technology
Mayo Clinic, like many health providers, has been pushed to its limits by the Covid-19 pandemic. Its intensive-care units were often filled to or near capacity in 2020. And while doctors throughout the health system rushed to find ways to care for the wave of sick patients infected by the new virus, many of the …
Private-Equity Deals for Information Technology Soar as Companies Modernize Infrastructure
Private-equity investments in technology soared in the final months of 2020 as investors sought to take advantage of a rise in corporate IT spending. Investors spent $65.17 billion last year on 2,138 private-equity deals with U.S.-based information technology companies, down from $72.47 billion over 2,007 deals in 2019 but far outpacing investments in any other …
Bitcoin blows past $45,000 to fresh highs above $47,000, driven by Tesla’s investment
The price of bitcoin surged above $47,000 on Tuesday, building on gains following news that electric-car maker Tesla has invested $1.5 billion in the cryptocurrency and may accept it as future payment for products. After reaching a record of near $44,000 on Monday, bitcoin prices BTCUSD, +2.98% hit $45,000, $46.000 and $47,000 later that evening, …
Iran Launches New Rocket, Showing Advances in Potential Missile Technology
Iran tested a new rocket on Monday with improved technology that could be used in its missile program, its latest attempt to raise the stakes for the Biden administration ahead of potential negotiations over a new nuclear deal. The new rocket, named Zuljanah, was developed under a government-backed program to send civilian satellites into orbit …
Seagate Technology Stock Slides After Earnings. What Wall Street Is Saying.
Text size Dreamstime Seagate stock is taking it on the chin on Friday, despite what appeared to be a solid December quarter earnings report. Seagate shares were down 6.3% to $58.96 in recent trading, while shares of rival Western Digital are off 5.8%, to $50.40. As reported on Thursday, Seagate Technology (ticker: STX) posted fiscal-second-quarter …
The Five Biggest Issues for Technology Companies in 2021
After a year of startling growth, the tech industry faces a more vexing 2021. The pandemic helped bring the world’s tech giants such as Amazon.com Inc. and Microsoft Corp. to new heights in 2020. The shift to online shopping and remote working accelerated at a pace that would have been inconceivable without the coronavirus. But …
Voting-technology company Dominion seeks $1.3 billion in defamation suit against pro-Trump lawyer Sidney Powell
WASHINGTON (AP) — Dominion Voting Systems filed a defamation lawsuit against lawyer Sidney Powell on Friday, seeking at least $1.3 billion for Powell’s “wild accusations” that the company rigged the presidential election for Joe Biden. “Dominion brings this action to set the record straight,” the company said in the suit filed in federal court in …
