Tag: Future

Faraday Future Completes Bridge Financing to Push Forward Production of Its All-electric FF 91 Luxury Vehicle

By [email protected]_84

  • Amended Bridge Financing Includes up to $45 Million in New Senior Secured Financing

  • Birch Lake Fund Management LP, Which Led Senior Bridge Financing Facility in 2019, Returns to Support Faraday Future


Faraday Future (FF), a California-based global shared intelligent mobility ecosystem company, today announced that it has completed the expansion and extension of the senior bridge financing facility put in place in 2019 to support the completion and launch of its flagship FF 91 EV and continue development of the mass-market FF 81. The amended bridge facility includes new senior secured financing of up to $45 million, which matures in October 2021.

As part of the expanded and extended financing agreement, Birch Lake, a Chicago-based merchant bank, has returned to support FF as the majority purchaser of the new senior secured financing. The principals of Birch Lake and co-investor, ATW Partners, a New York-based private equity firm, bring extensive experience

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Ecommerce Becoming the Trend of the Future

By [email protected]_84

It’s no secret that the retail industry has undergone one of the most drastic transformations throughout the pandemic. Companies within the field have seen ups and downs, but one branch of the retail space has seemingly only realized upside: eCommerce. But by how much did companies like Amazon, Wayfair, and Carvana really affect consumer spending?

While many mourned the loss of traditional brick & mortar outlets, the silver lining (especially as social distancing becomes the new normal) is the opportunity to shop for the same items in a more modern fashion. eCommerce delivers this new platform to consumers around the country, and has realized unprecedented success as “consumers have reduced spend at restaurants, bars, travel, concerts, etc.”

In their 4th annual eCommerce study, analysts at Cowen found that the sector “outsized growth of “+48% y/y in ’20,” and subsequently raised their total US eCommerce growth estimate by “~28-31% annually ’20-24

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xCloud is an unfinished but inspiring glimpse of how we might game in the future

By [email protected]_84

The first time you boot up an Xbox One game on an Android phone can be surreal. Earlier this month, I opened the Game Pass app on a Pixel 3A phone, connected an Xbox One controller via Bluetooth in the device settings, and tapped the “play” button on the page for Halo 5: Guardians. After a somewhat lengthy loading time, there I was on the menu screen, ready to play the exact same Halo 5 campaign that I left unfinished back in 2016.

It surprised me that my save file was intact and accessible in the cloud, letting me pick up right where I left off. The best part: I didn’t even have to unpack the Xbox One where I originally played the game. It’s sitting unplugged in a box, exactly where I left it since moving back to the East Coast at the end of the summer.

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What a failed Amazon deal means for Bethlehem Steel site’s future | Local News

By [email protected]_84

Given that strict schedule and the facts known at the time, Amazon took a negative view of the risks.

“There’s nothing anybody could have done,” Kucharski said, in assessing the outcome and looking ahead to future Bethlehem Steel projects. “It’s remarkable we got as far as we had, and it bodes well as far as the path that we’re on right now. We learned from that experience, and everybody’s working hard together to make it a much better situation for the future.”

Bethlehem Steel site

Overhead shot of the former Bethlehem Steel site on Route 5 in Lackawanna where a solar farm, windmills and other development now occupy some of the property.

Derek Gee

County leaders contend Amazon made a mistake giving up on the Bethlehem site, especially since, unlike Grand Island, the community would eagerly embrace the Amazon facility there.

“I don’t understand why they thought it was going to cost them

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Morgan Stanley Analysts Reiterate $245 Price Target, See Promising Future in Microsoft’s Gaming Business

By [email protected]_84

On Thursday, Morgan Stanley analysts reiterated their Overweight rating on Microsoft (MSFT) with a $245 price target. The analysts see great upside for Microsoft ahead of new Xbox console launches and following the $7.5B acquisition of game developer and publisher Bethesda Softworks.

The long-awaited release of the Xbox Series X/S console is approaching quickly. As expected, Microsoft should experience an uptick in hardware sales driven by the increase of “work/stay/play at home” activities from consumers. “The increase in gaming hardware revenue in FY21 vs.FY20 of $779 million in our model is already pressuring our existing FY21 gross margin estimates by ~35bps”, stated by Morgan Stanley analysts.

The analysts further noted: “Microsoft’s revenue base has grown meaningfully since (MSe $156 billion revenue in FY21 vs $110 billion in FY18), thus making the margin dilutive effect less meaningful now, in our view. Despite this modest gross margin headwind, we look for FY21

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Live Webinar – Engineering the Machines of the Future, Right Now

By [email protected]_84

Live Webinar – Engineering the Machines of the Future, Right Now – Nov 10, 2PM ET

The engineering of equipment for production applications is the most essential, yet least discussed component of part and assembly making. Traditional factory processes involve the ad hoc integration of machines, human operators and information to both links them together and form simple feedback systems that ultimately determine quality, productivity and value.

Modern technologies driven by advanced software are moving beyond the simple digitization of manual processes and have made production equipment generators of large quantities of data. While originally intended to monitor machine health and some aspects of machine performance, data quantity and transfer rates make this information stream a valuable commodity by itself. Production equipment must be engineered today not only to make physical objects, but to make sense of the process of making those objects. Engineering great machines and great processes starts

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IBM, Seeing Its Future in the Cloud, Breaks Off I.T. Unit

By [email protected]_84

IBM, throughout its 109-year history, hasn’t often led technology trends. But it has adapted and eventually prospered time and again.

It is trying to go the adaptation route once again.

IBM on Thursday acknowledged the challenge and embraced the opportunity for the company in the accelerating shift to cloud computing. The company said it was spinning off its legacy technology services business to focus on cloud computing and artificial intelligence.

Arvind Krishna, who became chief executive this year, called the move “a landmark day” for IBM, “redefining the company.”

The split-up strategy reflects how decisively computing has shifted to the cloud. Today, nearly all new software is being created as a cloud service, delivered over the internet from remote data centers. The computing model affords corporate customers more flexibility and cost savings, sold as a pay-for-use service or annual subscriptions.

IBM was late to the cloud market, which Amazon pioneered

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Can The Cannabis Industry Prepare For A Future Of Climate Change?

By [email protected]_84

Fires continue to rage on the West Coast.

A record-breaking 4 million acres have burned in California, and the season is not over. Cal Fire reports inching towards containment in Napa and Sonoma counties. Another 1.6 million acres have burned in Oregon and Washington. At 5.6 million acres so far, the 2020 fire season leaves in its wake damage larger than the state of New Jersey.

The cannabis industry is vulnerable to fires, particularly as it has less access to disaster insurance than traditional industries. It is estimated that 2/3 of California’s cannabis is grown outdoors. Fires have hindered this Croptober for the West Coast, the outdoor growing capitol of the U.S. Croptober is the time of year when cannabis yields its biggest harvest. Many outdoor plants reach a flowering peak throughout the month of October

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Deshaun Watson is the future of the franchise, Texans must build around him

By [email protected]_84

Texans defensive lineman J.J. Watt is a three-time NFL Defensive Player of the Year and a hero in Houston both on and off the field, but he knows that no one is more important to a football team than its franchise quarterback.

That’s why Watt said that as the Texans begin the process of finding a new coach and G.M. following the firing of Bill O’Brien, the highest priority is building around the quarterback.

“Deshaun Watson‘s an incredible quarterback,” Watt said. “He’s the face of this franchise. He’s the future of this team and this city. We have to do whatever we possibly can to make sure that he’s in the best position to have success and to lead this place to success, not only this year, not only next year, but for the next 10 years. Whatever it takes to give him all the tools he needs to be

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Supreme Court weighs the future of software in Google-Oracle case

By [email protected]_84

The Supreme Court justices appeared highly aware Wednesday that their decision in a copyright dispute between Google and Oracle could have far-reaching consequences for Silicon Valley, but after an hour and a half of arguments it was not clear which company’s dire warning they most seemed to believe.

Each of the court’s eight justices grilled attorneys representing Google and Oracle, as well as the U.S. deputy solicitor general, in a case that could upend the tech industry’s understanding of who owns small but essential chunks of code that allow different programs and platforms to connect.

Questions for Google: The justices lobbed some of their toughest questions at Google’s attorney, Tom Goldstein, scrutinizing his argument that Google copied code from Oracle because it had no other option. Google has asserted that the code is necessary for developers to create applications for its Android operating system and that these application programming interfaces,

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