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Rivian IPO: Will Rivian Go Public?

The idea of a Rivian IPO excites investors. The electric vehicle (EV) market is growing and they want a piece of the action.
For decades, scientists and politicians having been using the phrase “climate change.” And with that idea comes the need for eco-friendly solutions like future EVs. While Tesla is the leading electric automaker, the younger and less-known company is making waves. Rivian recently revealed new vehicles. Now, investors are wondering if a Rivian IPO will follow.
The company hasn’t yet manufactured its vehicles for retail. Still, Rivian is turning heads. Big-name investors are putting money towards the project. And when …read more […]

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China data portends more punishment for bruised stock markets

World stock markets should fall further on Monday after a record contraction in China’s manufacturing and service sectors because of the coronavirus outbreak, illustrating the massive potential economic impacts of the epidemic for the rest of the globe. The outbreak has already caused massive disruptions in industry, led U.S. equities to suffer their worst weekly selloff since the financial crisis and knocked trillions off the market value of global stocks. The first proper glimpse of how much economic damage the outbreak has inflicted so far came from China, the world’s second-largest economy where the epidemic began. …read more […]

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Humbled Saudis May Yet Clinch OPEC+ Deal as Virus Crisis Worsens

(Bloomberg) — Saudi Arabia has so far been thwarted by Russia in its push to shore up oil markets against the coronavirus. But when they meet next week, the humbled kingdom may yet clinch victory.Ever since it became clear the outbreak was savaging energy demand in China — and oil prices everywhere — Riyadh has been pushing for swift production cuts to compensate. Russia, the most important partner in the producers’ coalition, rebuffed those entreaties, underscoring the dominant role that President Vladimir Putin has played since forging an alliance with the Saudis three years ago.“They’re sitting in very different places …read more […]