Latest news with #670
TimesLIVE
18-07-2025
- Automotive
- TimesLIVE
Uber partners with Lucid, Nuro in $300m robotaxi investment
Uber will invest $300m (R5,339,670,000) in electric vehicle maker Lucid in a robotaxi deal that aims to start with one major US city late next year, the companies said on Thursday. Over six years starting in 2026, Uber will acquire and deploy more than 20,000 Lucid Gravity SUVs that will be equipped with autonomous vehicle (AV) technology from startup Nuro, the three companies said in a statement. The agreement illustrates the renewed plans and push for financing for self-driving cabs years after a first wave of autonomous driving investment produced only a limited number of vehicles. Tesla has recently launched a robotaxi trial in Austin and Alphabet's driverless taxi unit Waymo is speeding up its expansion. As part of their announced deal, Uber will invest hundreds of millions in Lucid and Nuro, which supplies self-driving technology to carmakers, the joint statement said. Of that, $300m will go to Lucid, the EV maker said in a separate filing to the US securities and exchange commission on Thursday. Lucid shares surged more than 26% to $2.95 (R52.50). They have fallen about 24% this year. Uber's latest move underscores its renewed push into the robotaxi space after exiting in 2020. Since then, Uber has pivoted to partnerships with several technology developers, including Waymo and Aurora. The deal with Lucid follows Uber's robotaxi agreement in April with Volkswagen that will supply its vans for commercial service planned for Los Angeles next year. Commercialisng AV tech has been much harder than anticipated with high costs, tight regulations and federal investigations forcing many, including General Motors' Cruise, to shut down. Some in the race include Zoox, which is testing a robotaxi without manual controls and plans to launch commercial services in Las Vegas this year. After years of missed promises, Tesla started a restricted trial with about a dozen of its Model Y SUVs in Austin, Texas, last month. CEO Elon Musk has said it will expand the service rapidly to other US cities this year. Waymo has been growing cautiously for years and operates in several US cities with about 1,500 vehicles. It crossed 160-million kilometres of autonomous driving this month. A prototype of the Lucid-Nuro robotaxi is operating autonomously on a closed circuit at Nuro's testing facility in Las Vegas, the companies said. "We are expanding beyond our traditional EV technology leadership and working on partnerships and going into areas that in the past we have not focused on," Lucid's interim CEO Marc Winterhoff told Reuters. Nuro, co-founded and led by former Waymo engineers, has expanded from making last-mile delivery vehicles to providing its self-driving technology for commercial and passenger vehicles. "We have other very active conversations going on the personal vehicle side, where we would integrate Nuro driver into vehicles that will be sold to end consumers," said Dave Ferguson, Nuro's co-founder and president. Nuro will need to apply for state level operating licences though it holds some licences from their previous delivery operations, he said. Separately, Lucid said it had proposed a one-for-10 reverse stock split of its class A common stock.
Gulf Today
09-07-2025
- Business
- Gulf Today
RUWAD approves financing for 4 projects worth Dhs1.55 million
The Project Financing Committee of the Sharjah Foundation for Supporting Entrepreneurial Projects (RUWAD) approved during its 35th meeting four projects at a total of Dhs1,550,000. The meeting was led by Hamad Ali Abdullah Al Mahmoud, Chairman of the Sharjah Economic Development Department. The committee decided to directly fund two of these projects through the RUWAD programme. One project is a new commercial venture located in the Al Saja'a area (Dhs200,000), while the other is a vocational initiative in Dibba Al Hisn (Dhs200,000). Additionally, the committee approved extra funding of Dhs450,000 for one project in the industrial sector, amounting to a specific sum, which will also be provided through direct financing. They also agreed to support another technical project with funding (Dhs700,00) through the bank, which will be done indirectly. So far this year, the committee has approved a total of nine projects, including some that are getting extra funding. The overall amount of money approved for these projects comes to Dhs2,670,000. The committee members talked about several ideas to improve the support and funding for various projects. One suggestion was to combine technical evaluations with legal advice to help ensure better decision-making. They also discussed ways to make it easier for projects to get started and find the right suppliers for their different needs, especially in areas like monitoring, design, decoration, and construction. Additionally, they touched on other topics such as providing clear information about who really owns a project, protecting consumers, and understanding credit ratings. In May, The Sharjah Foundation to Support Pioneering Entrepreneurs (RUWAD), under the Sharjah Department of Economic Development, launched the first edition of the 'Ruwad Community' initiative in Aljada. The event brought together national small and medium enterprises (SMEs) and 20 private sector institutions, offering them dedicated spaces to showcase their services to entrepreneurs. The initiative aims to strengthen partnerships between SMEs and private companies, fostering a more vibrant entrepreneurial ecosystem in the emirate. Twenty companies and organisations took part in the initiative, representing various sectors including banking, marketing, human resources, feasibility studies, accounting, and e-commerce. Their participation showcased the wide range of support services available to entrepreneurs in Sharjah. Fatima Al Ali, Director of Ruwad, officially inaugurated the event, which was attended by more than 70 entrepreneurs, both male and female, including RUWAD members and young individuals interested in entrepreneurship. The event created valuable opportunities for networking and showcasing various business services. Al Ali stated that the initiative seeks to create a dynamic platform that connects SMEs with private sector companies. She emphasised that the exposure to services and facilities offered by these companies can contribute to project development, access to competitive offers, and the signing of strategic contracts in administrative, financial, and marketing fields. She extended her gratitude to the participating companies, highlighting the strong link between the private sector and entrepreneurship. She noted the vital role of private institutions in delivering high-quality, efficient services, supported by their broad expertise, knowledge, and advanced tools, ultimately creating added value for both sides and enhancing local and foreign investment. The initiative also acted as an excellent promotional platform for Ruwad member projects, enhancing their revenue potential through possible contracts with private sector companies. The initiative connected members with fresh service providers and assisted the Ruwad team in refreshing its database of engaged and prospective individuals in the entrepreneurship landscape within and outside Sharjah. Last Year, RUWAD reported that its member projects had earned Dhs3,484,680 in government contracts across the UAE, a 23.9% increase from 2023. Acting Director Fatima Al Ali stated that this rise underscores RUWAD members' strong position as trusted providers to federal and local government agencies. It also demonstrates a growing trust in the quality of services and goods provided by Emirati entrepreneurs, reinforcing their position in national development and public-private collaborations. She stated that RUWAD is dedicated to increasing its members' competitiveness through focused training programmes, awareness workshops, and discussions on government procurement methods. Members are also urged to join approved supplier platforms and take part in digital tendering processes. WAM
Yahoo
03-07-2025
- Health
- Yahoo
Cognito achieves enrolment target in trial of Spectris system for Alzheimer's
Cognito Therapeutics has reached its enrolment goal for the randomised, sham-controlled HOPE Study investigating the Spectris AD system's efficacy and safety in treating Alzheimer's disease. The double-blind trial, with 670 subjects enrolled, is set to use the company's neuromodulating device at home for 12 months. Carried out across 70 US clinical sites, the trial will be followed by a 12-month open-label extension trial. According to the company, the Spectris AD system will deliver synchronised light and sound stimulation at the 40Hz gamma frequency, which has previously shown promise in the OVERTURE feasibility study by preserving corpus callosum structure in subjects with Alzheimer's. Results from the study indicated a 76% and 77% decrease in cognitive and functional decline, respectively, and significant white matter preservation with a 69% decrease in whole brain atrophy over six months. Subjects in the HOPE Study's treatment group will receive Active Sensory Stimulation System treatment once a day while the control group will use a Sham Sensory Stimulation System. Study visits for consent, screening, and baseline assessments are scheduled, followed by three, six, nine (by phone), 12, and 13 months safety follow-ups. The primary aim of the study is to evaluate Spectris' efficacy in slowing Alzheimer's progression against sham for mild to moderate patients, measured functionally by the Alzheimer's Disease Cooperative Study - Activities of Daily Living (ADCS-ADL) assessment and the Mini-Mental State Exam (MMSE). A subset of clinical sites will participate in a substudy to assess additional fluid biomarkers. Subjects at these sites will undergo lumbar punctures to collect cerebrospinal fluid at baseline, three months, and 12 months. Cognito Therapeutics CEO Christian Howell said: 'Completing enrolment in this landmark trial marks a major step forward in our mission to deliver a better treatment option for people living with neurodegenerative conditions such as Alzheimer's.' The system remains investigational and is not yet available for sale. In 2023, Cognito secured $73m in Series B funding to further develop its wearable neuromodulation device for Alzheimer's. "Cognito achieves enrolment target in trial of Spectris system for Alzheimer's" was originally created and published by Medical Device Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Hans India
02-07-2025
- Business
- Hans India
Gold rallies Rs 1,200, silver surges Rs 2,000
New Delhi: Cutting short the seven-day losing streak, gold prices rebounded by Rs1,200 to Rs98,670 per 10 grams in the national capital on Tuesday due to fresh buying by stockists in line with strong global trends, according to the All India Sarafa precious metal of 99.9 per cent purity had settled at Rs97,470 per 10 grams on Monday. Gold of 99.5 per cent purity climbed by Rs1,100 to Rs98,150 per 10 grams on Tuesday. It had closed at Rs97,050 per 10 grams in the previous market close. 'A retreat in the US dollar, driven by concerns over the ballooning US fiscal deficit and the market's focus on President Donald Trump's proposed tax-cutting and spending bill, has made gold more attractive,' Abans Financial Services' Chief Executive Officer Chintan Mehta said. President Donald Trump has also threatened new tariffs on Japan ahead of the July 9 deadline for the implementation of reciprocal tariff.
TimesLIVE
19-06-2025
- Automotive
- TimesLIVE
NASCAR's Carson Hocevar fined $50k for defamatory comments about Mexico City
Driver Carson Hocevar has been fined $50,000 (R904,670) by his race team, Spire Motorsports, and will be required to undergo sensitivity training after he made derogatory comments about Mexico City. NASCAR's first Cup Series points race outside the US since 1958 apparently didn't sit well with Hocevar, who took issue with Mexico's capital city during a live stream on Friday night. Hocevar, 22, labeled it a 's***hole' while also raising concerns about safety in the city. He issued an apology over social media after his 34th-place finish (out of 37 drivers) in Sunday night's race. 'Maybe a kid that had never been out of the country until Thursday should ever give an opinion about what any place is like other than Portage, Michigan,' Hocevar wrote on X, referring to his hometown. 'When I answered that question on a stream, I was sceptical about the trip so far and believed everything I read or heard about Mexico City from people who more than likely also had never been here. Now that I've actually left my hotel a couple times and raced here in front of some of the most passionate fans I've ever seen, my opinion has changed. I am embarrassed by my comments, by the race I ran. 'Count this as another lesson for me in a season I've learnt so much. Don't believe everything you hear without seeing it yourself. If anyone should give anyone or any place the benefit of the doubt it's me. I'm sorry Mexico City. Consider me an ally going forward and an example of getting off Twitch and seeing things with my own two eyes.' Spire Motorsports was swift with its response, issuing mandatory cultural sensitivity and bias awareness training for Hocevar. Spire also said the $50,000 fine will be distributed among the Mexican Red Cross, the United Way Mexico and Un Kilo de Ayuda, a nonprofit that helps childhood nutrition and development in rural communities across the country. 'These actions are consistent with Spire Motorsports' core value of respect, which is something we proudly display on every race car, team uniform, trackside hauler, and digital channel,' the team's statement said. 'Respect is not a slogan. It is a daily expectation that we 'walk the walk' in how we speak, compete and serve the communities that welcome our sport. 'Carson Hocevar's recent comments during the live stream fell short of that standard. They did not represent the views of Spire Motorsports, our partners, or NASCAR. He has acknowledged his mistake publicly, and his prompt, sincere apology demonstrated personal accountability. We now take this additional step to underscore that words carry weight, and respect must be lived out loud.'
