Foxconn drastically downsizes plans for Wisconsin facility

Foxconn drastically downsizes plans for Wisconsin facility

Foxconn — the Taiwan-based manufacturing giant that cranks out Apple’s iPhones among other popular gadgets — is drastically scaling back a planned $10 billion factory in Wisconsin. Under a deal with the state of Wisconsin announced on Tuesday, Foxconn will slash its planned investment in the facility — which former President Donald Trump once called … Read more

Peter Thiel-backed psychedelic drug maker aims to raise $100M in IPO

Peter Thiel-backed psychedelic drug maker aims to raise $100M in IPO

Psychedelic drugmaker ATAI Life Science, which backed by billionaire investor Peter Thiel, said it is planning to raise $100 million in an initial public offering. The Berlin-based company — which tests drugs like ketamine, DMT and psilocybin, the active ingredient in “magic mushrooms,” to treat depression — raised an aggregate of $362.3 million from private … Read more

Glasses retailer Warby Parker eyes IPO as soon as this year

Glasses retailer Warby Parker eyes IPO as soon as this year

Hipster glasses retailer Warby Parker is eyeing an initial public offering. The 11-year-old business, which started out as an e-tailer before rolling out some 130 stores across the US, is considering an IPO as early as this year, Bloomberg reported on Wednesday. The New York-based company has amassed a huge customer following by offering less … Read more

Netflix stock drops 10% as new subscribers fall short

Netflix stock drops 10% as new subscribers fall short

Shares of Netflix were walloped on Tuesday after the company said it added 4 million net subscribers globally in the first three months of the year, falling short of Wall Street’s expectations of 6.2 million new subscribers. The streaming giant behind hit shows like “Bridgerton,” “Cobra Kai” and “Big Mouth,” disappointed investors further when it … Read more

Amazon is opening a beauty salon in London

Amazon is opening a beauty salon in London

Amazon is opening a hair salon in London — its latest odd lurch into new businesses as the pandemic continues to fuel the e-commerce giant’s torrid growth. The Amazon Salon, unveiled in a Tuesday blog post, will occupy a two-story, 1,500-square-foot space in Spitalfields, a trendy neighborhood in East London that is also home to Amazon’s … Read more

Dogecoin hits new high boosted by DogeDay hashtags

Dogecoin hits new high boosted by DogeDay hashtags

Dogecoin prices hit an all-time high on Tuesday, with a market capitalization above $50 billion, after social media fans used hashtags to fuel a rally in the meme-based cryptocurrency. An 8,000 percent price surge this year has seen Dogecoin, which was launched as a satirical critique of 2013′s cryptocurrency frenzy, overtake more widely-used cryptocurrencies like Tether to … Read more