The great challenger bank experiment has failed Good Saturday morning reading from Ben Marlow but definitely not for the faint hearted. He takes the view that banking is really all about scale and as evidence presents the proposed takeover of Metro Bank by Carlyle as a step in the road to, perhaps, create a scaleable…
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Health complications stemming from childbirth drain at least $32.3 million from the U.S. economy, according to a new study. Maternal mental health disorder accounted for the biggest share of both medical and societal costs like loss of economic output at $18.1 billion over a six-year span, according to new research from Mathematica and the Commonwealth…
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Rivian, the US electric vehicle maker, went public this week with a valuation of $86bn and a compelling story. “For as long as I can remember, I’ve been obsessed with cars,” its 38-year-old founder, RJ Scaringe, confessed in its IPO prospectus. “I had hoods under my bed, windshields in my closet and engine parts on…
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British venture capitalist Ian Osborne has brought in Nextdoor co-founder Nirav Tolia as executive chair of his investment group Hedosophia as it prepares for a fresh push into the US tech market next year. Tolia joins the tech-focused investor following the flotation of Nextdoor, where he was chief executive until 2019. The company’s shares surged…
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Playtech: luck of the draw A potential £3bn bid battle for gambling software group Playtech has drawn the attention of one of Hong Kong’s most venturesome investors. Paul Suen Cho Hung, a Chinese-born businessman best known for floating Birmingham City Football Club in Hong Kong, has swept the London market to build a 3.66 per…
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Toshiba’s board is poised to rule out pursuing a deal to take the whole company private and is preparing to reveal an alternative plan to split the business in three that some investors say they may reject, according to people familiar with the matter. A $20bn offer for the conglomerate by UK private equity group…
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The Centers for Medicare and Medicaid Services may be slowing payment reforms designed to transition some procedures from inpatient to outpatient settings, but that isn’t dimming confidence about Tenet Healthcare’s investments in ambulatory surgical centers. Tenet’s latest move, announced Monday, is its $1.2 billion acquisition of SurgCenter Development and that company’s ownership stakes in 92…
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Insurtechs medical loss ratios are at a level that if they were patient temperatures, they’d be diagnosed with fevers. Newly-public insurtechs Oscar Health, Clover Health and Bright Health Group all clocked in near triple-digit medical loss ratios during the third quarter ended Sept. 30, with only Alignment Healthcare effectively managing its members’ medical spend. Insurers…
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A rift between Moderna and the US government deepened on Thursday after the biotech group dismissed claims by the National Institutes of Health that three of its scientists should be recognised as co-inventors of a patent underpinning the company’s Covid-19 vaccine. More than any other vaccine maker, Moderna has worked in lockstep with the US…
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This article is an on-site version of our #techFT newsletter. Sign up here to get the complete newsletter sent straight to your inbox every weekday Lessons from Rivian’s peers If you wanted to gauge the market’s feelings towards the future of mobility, look no further than electric vehicle maker Rivian. The company surged on its Nasdaq debut,…
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