Carvana expects to return to profitability in this quarter after cutting costs. The used car retailer expects to achieve positive adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) in the current quarter, Carvana said in a Thursday (May 4) letter to shareholders. This forecast...
Germany’s HV Capital says it has closed a €710 million ($782 million) fund targeting “high-growth” firms. The new fund — the venture capital (VC) investment group’s ninth — was announced Thursday (May 4) on HV Capital’s LinkedIn page and comes at a time when many...
SVB Financial wants to collect $2 billion it is owed. The FDIC says: Wait your turn. The company, which owned the failed Silicon Valley Bank, hopes to recover $2 billion in deposits held in receivership by the Federal Deposit Insurance Corp. (FDIC). But according to bankruptcy court...
Johnson & Johnson’s consumer healthcare spinoff has made the biggest U.S. initial public offering (IPO) since 2021. Kenvue, which includes Band-Aid and several other well-known consumer brands that had been part of Johnson & Johnson, raised $3.8 billion in an IPO that valued it at...
Western Alliance says it will not be the next regional bank to go up for sale. The Arizona-based lender on Thursday (May 4) denied a report from earlier in the day by the Financial Times (FT) that it was considering a sale. “There is not...
Qatar-based eCommerce startup Snoonu has raised $12 million in a Series B funding round. “A new milestone has been achieved in our unicorn journey,” Snoonu said when announcing the funding round in a Wednesday (May 3) post on LinkedIn. Snoonu aims to provide fast and...
Federal authorities are investigating Goldman Sachs’ work with Silicon Valley Bank ahead of its collapse. Goldman Sachs revealed the probe in a regulatory filing Thursday (May 4) with the Securities and Exchange Commission (SEC), saying it was cooperating with and giving information to “various governmental bodies” as they look into the...
Inbox Health has raised $22.5 million in a Series B funding round to expand its patient billing communications platform. The platform is used by 2,600 medical practices in the United States and that has collected payments from 3.5 million patients, Inbox Health said in a...
The United Kingdom’s antitrust watchdog is the latest government entity calling for artificial intelligence (AI) regulations. “AI has burst into the public consciousness over the past few months but has been on our radar for some time,” Competition and Markets Authority (CMA) CEO Sarah Cardell...
