Klarna is closing in on a deal to raise money at a $6.5 billion valuation, a far cry from the $46 billion valuation the Swedish buy now, pay later lender fetched in June, the Wall Street Journal reported on Friday. The likely 85% valuation drop marks a dramatic comedown for what had been one of the world’s most valuable fintechs, and underlines the icy fundraising environment for startups. ...
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Klarna to Raise Cash at $6.5 Billion Valuation in Dramatic Down Round
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The Electric: Western Auto and Battery Makers’ Big Gamble on Indonesian Nickel
For much of the last century, metals companies have made stainless steel from nickel mined in Russia or the Philippines and smelted at temperatures up to 2,900 degrees. But demand for nickel is outstripping supplies because the metal is a key component in most electric vehicle batteries. So metals producers have turned to a new supplier—Indonesia, which possesses vast reserves of a previously...
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