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Saudi sovereign wealth fund pours $1 billion into Bay Area Tesla rival
Lucid Motors Inc. said Monday that it’s getting a $1 billion investment from Public Investment Fund of Saudi Arabia (PIF) to help it produce its first electric cars it plans to roll out in competition with Tesla Inc. The Saudi fund is the same one that Tesla CEO Elon Musk said at one point this summer was going to help him take his company private at $420 per share. (Weeks later, Musk changed his mind and said Tesla would remain a publicly traded company. The chain of events has prompted scrutiny…
Yahoo’s holding company will pay $47M to settle biggest data breach in history
The holding company that was once known as Yahoo will pay $47 million to settle three separate lawsuits over its mishandling of the biggest data breach in human history. In a new filing on Monday, Altaba called the settlements a “significant milestone” in its effort to clear the company’s legal liabilities related to the case. TechCrunch first reported on the filing. Hackers broke into Yahoo’s servers twice, in 2013 and 2014, stealing personal information on 3 billion accounts. This included…
Seattle pharma distributor LifeSpan Bioscience is acquired by private equity firm
LifeSpan was founded in 1995 and offers a variety of antibodies, kits, proteins and other biological reagents. The company has 35 employees.
Thorns set for Saturday matchup with (to-be-determined Tuesday)
The Portland Thorns took a major step last weekend toward defending their 2017 NWSL championship. With goals from from Tobin Heath and Lindsey Horan, the NWSL team captured a hard-fought, and stirring, semifinal win over arch-rival Seattle Saturday at Providence Park. The 2-1 win sends the team into Saturday’s championship game at Providence Park. The Thorns will play either the dominant North Carolina Courage, which finished the 24-game season at 17-1-6, or the Chicago Red Stars. The second semifinal…
Salesforce’s Marc Benioff picks up Time Magazine for $190 million
Marc Benioff is the latest tech titan to snap up a major news publication. The Salesforce.com founder and his wife, Lynne Benioff, have agreed to purchase Time Magazine for $190 million in cash, a transaction expected to close within 30 days, according to Meredith Corporation. The Iowa-based media company bought Time, Inc. just eight months ago, though soon after said it had plans to sell the flagship magazine, along with Sports Illustrated, Fortune and Money, in an effort to home in on its…
Legacy faces a historic $5M fine
Oregon’s labor oversight division has, to the tune of $5 million-plus, proposed a historic fined regarding violations at three Legacy Health facilities. Legacy Meridian Park Hospital, Legacy Mount Hood Medical Center and Legacy Good Samaritan Hospital and Medical Center received “separate Notices of Intent to Assess Civil Penalties” from the state’s Bureau of Labor and Industries. The agency said Legacy committed 5,156 meal and rest period violations in aggregate. The proposed $5.156 million penalty,…
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