The Model 3, Tesla's cheapest car yet, starts off at $35K, still higher than the Nissan Leaf, at just over $30K. The electric battery will run for 354 km before needing a recharge.
Sunday, 30 July 2017
Saturday, 15 July 2017
Oil Industry Focuses on Shorter Cycle Projects as Oil Prices Remain Low
The IEA has reported investment in the oil and gas sector has been falling owing to lower oil prices. Turkish economist Fatih Birol at the IEA urged policymakers to be mindful of the "long term adequacy of supply" in light of lower longer term investments in the sector. Energy efficiency investment, however, is on the rise.
A 75 Million Dollar Upvote for Cyber in the Form of Darktrace as Europe's VC Scene Hots Up
Cyber Story
UK cybersecurity startup has raised $75m in a Series D round, valuing the company at $825m (double the valuation from its capital raise in the previous year, 2016). Darktrace was founded in Cambridge and is a mere four years old. Insight Venture Partners, a new funder for Darktrace, stepped in alongside existing investors Summit Partners, KKR and cybersecurity specialist investor TenEleven Ventures (based in Boston and Silicon Valley). Darktrace has 500 staff and $200m of contracts including customers like British Land and Metro Bank.
Wider VC World and IoT Still Strong
In the wider VC world, funding in Europe hit 6.4 billion euros in 2016, the highest level since 2007. Invest Europe (formerly known as the EVCA) reports that 10% of the funding comes from US institutional investor. Furthermore the size of venture capital funds is increasing, with 13 funds raising more than 100m euros in 2016. Samsung NEXT is also coming to Europe with a promise of 150mm USD focused on AI, IoT, AR and VR. Berlin-based Felix Petersen is the MD in Europe.
UK cybersecurity startup has raised $75m in a Series D round, valuing the company at $825m (double the valuation from its capital raise in the previous year, 2016). Darktrace was founded in Cambridge and is a mere four years old. Insight Venture Partners, a new funder for Darktrace, stepped in alongside existing investors Summit Partners, KKR and cybersecurity specialist investor TenEleven Ventures (based in Boston and Silicon Valley). Darktrace has 500 staff and $200m of contracts including customers like British Land and Metro Bank.
Wider VC World and IoT Still Strong
In the wider VC world, funding in Europe hit 6.4 billion euros in 2016, the highest level since 2007. Invest Europe (formerly known as the EVCA) reports that 10% of the funding comes from US institutional investor. Furthermore the size of venture capital funds is increasing, with 13 funds raising more than 100m euros in 2016. Samsung NEXT is also coming to Europe with a promise of 150mm USD focused on AI, IoT, AR and VR. Berlin-based Felix Petersen is the MD in Europe.
Wednesday, 12 July 2017
Carillion Shares Drop 30%
Construction giant Carillion saw its shares drop 30% following a profit warning on Monday morning stating the company was losing money on its construction contracts. Balfour Beatty's stock also dropped but only by 50bps. Analysts decried Carillion's woes as largely company-specific. In particular, analysts pointed to a stretched balance sheet where debt used to fund acquisitions weighed heavily on thin margins in Carillion's day to day business.
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