Lucid Motors and Churchill Capital confirm SPAC deal: CCIV shares sink

Lucid Motors and blank check company Churchill Capital IV (CCIV) confirmed a merger deal to take the California-based EV company public. Shares of Churchill Capital were down around 25% at 10:45 a.m. ET, though coming off their session lows.

The transaction, announced on Monday evening, values Lucid at an initial pro-forma equity value of approximately $24 billion at the PIPE (private investment in public equity) offer price of $15.00 per share. It will provide the electric vehicle company with approximately $4.4 billion in cash.

The deal has a transaction equity value of $11.75 billion which includes a cash contribution from

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Area 120 is beginning to use Google’s massive reach to scale HTML5 GameSnacks platform

Hundreds of millions of users, especially in developing markets, don’t own high-end smartphones and can’t afford fast data plans to enjoy much of anything on the web.

Google has been exploring multiple ways to better serve this segment of the user base. It has tried partnerships to make the internet more affordable to tens of millions of users. It has worked with smartphone makers to bring reliable Android experience to cheap smartphones. In fact, it’s currently working on a project with telecom operator Jio Platforms in India to further lower the price point for decent Android experience.

For

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Where’s the insurance industry at in terms of female representation at the top?

The Association of British Insurers (ABI) has released new information from its annual talent and diversity data collection, which the trade body believes is an indication of the progress made within the insurance and long-term savings industry when it comes to female representation at the most senior level.

According to the ABI, women now hold 29% of board roles – an improvement from 2019’s 25%. Meanwhile preliminary figures show that 24% of executive level positions in the sector are held by women. 

“It’s encouraging to see the growing female representation at the most senior levels of the insurance and long-term

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Career advancement for the veterinary team

Every veterinary team member is essential to building a thriving veterinary practice. Although you may love your job, it’s normal to yearn for more. Continued growth and development are crucial to personal and career satisfaction. If you’re a dedicated animal care professional looking to advance your career, here are a few ways to do it.

Continuing education (CE)

Many CE opportunities exist to advance your current know-how. Lectures and courses on ultrasonography, dentistry, low-stress handling, emergency medicine, and many other topics are available. Low-cost or free online CE webinars have increased since the start of the pandemic. Be sure to

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The money market and bond guys have a scaremongering minority

Outlook

We had thought the inflation/yield story was a normal development and it was silly for traders to overreact. We were wrong. Yes, the story has been developing since last summer, when yields hit bottom, but apparently it came as a surprise that yields could become real, i.e., nominal exceeding the inflation rate for a genuine return. We are not there yet by any means, but a rise to levels we last saw a year ago after a crash to 0.380% is a mighty move in bond market terms.

See the 3-year chart, and also the WSJ version, which squashes

Read More View More The money market and bond guys have a scaremongering minority

Stocks battle back as Fed’s Powell eases inflation, economy concerns

U.S. equity markets staged a dramatic comeback Tuesday with the Dow Jones Industrial Average ending just shy of a record high after Federal Reserve Chairman Jerome Powell reassured investors the central bank would continue to support the economy and that inflation would remain in control.

HIGHLIGHTS: FED POWELL’S TESTIFYS BEFORE CONGRESS

The Dow Jones Industrial Average gained 13 points, or 0.04%, erasing an earlier decline of 363 points. The S&P 500 closed up 0.13% while the Nasdaq Composite lost 0.5% trimming steep losses.

Ticker Security Last Change
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