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Paul LienertBen Klayman 1/2 Rush hour traffic moves north and south on interstate 5 near Encinitas, California, U.S. October, 24, 2018. REUTERS/Mike Blake Read More Auto data startup Wejo, backed by General Motors Co (GM.N),will go public through a reverse merger with blank-check company Virtuoso Acquisition Corp (VOSO.O) in a deal that values the British company at $800 million including debt, the companies said on Friday. The deal will raise $330 million in proceeds for Wejo, the companies said. That includes $230 million from Special-Purpose Acquisition Company (SPAC) Virtuoso and another $100 million referred to as Private Investment in Public Equity (PIPE). Wejo Chief Executive and founder Richard Barlow said institutional investors make up most of the PIPE, but declined to identify the firms involved. An additional $25 million could be raised within the next month as talks continue with other potential investors, he said. ....
EuropeGermanyâs 2021 election and why it matters to markets Danilo MasoniDhara RanasingheYoruk Bahceli 4 minute read Dark clouds hang over the financial district as the spread of the coronavirus disease (COVID-19) continues in Frankfurt, Germany, March 16, 2021. REUTERS/Kai Pfaffenbach Itâs rare for German elections to be exciting, market-moving events but the one on Sept. 26 may prove the exception if its outcome completes the transformation of a nation long wedded to austerity into a big spender. The election will end Angela Merkel s 16-year stint at the helm of Europe s biggest economy, and the Greens have a chance to become the leading party in national government for the first time in their 40-year history. ....