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Lucas TVS to build Li-ion battery unit for ₹2,500 cr.

Opinion | The Buying of the American Mind


By Paul Krugman

Opinion Columnist

Intuit Reportedly In Talks To Buy Mailchimp For Around $10 Bln

Technology platform Intuit Inc. (INTU) is in talks to buy email marketing firm Mailchimp for more than $10 billion, Bloomberg reported citing people familiar with the matter.

The maker of TurboTax and QuickBooks software is yet to reach a final decision and the discussions are going on. As per the report, other buyers also could emerge for the company.

If successful, the deal would be Intuit’s largest deal to date. Last year, the company bought Credit Karma for $7.1 billion.

Mister Car Wash’s Selling Stockholders To Offer 12 Mln Shares For Sale

Mister Car Wash, Inc. (MCW) on Tuesday announced that several of its selling stockholders including investment funds affiliated with Leonard Green & Partners, L.P., and members of its management team, and pre-IPO investors are offering 12,000,000 shares of its common stock in a secondary offering.

The company would not be receiving any proceeds from the sale of the shares of common stock by the selling stockholders. The selling stockholders also expect to grant the underwriter a 30-day option to purchase up to 1,800,000 additional shares of common stock.

Morgan Stanley is acting as the sole underwriter for the offering.

A Sushi Hideaway Where There’s Always Something New to Taste

A meal at Nakaji might start with icefish and end with watermelon. Then, if you can afford it, try a $300 shot of whiskey.

Sushi That Pays Homage to Tokyo

8 Photos

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By Pete Wells

Biotech Stocks Facing FDA Decision In September 2021

As August draws to a close, let us take a look back at some of the regulatory headlines from that eventful month and look forward to what September has in store.

A new treatment for Pompe disease, Sanofi’s Nexviazyme, was approved by the FDA on Aug.6. The company already has one approved Pompe disease drug, which is sold as Myozyme in Europe and Lumizyme in the U.S.

The U.S. regulator approved a novel indication for Xywav for idiopathic hypersomnia (IH) in adults on Aug.12. This drug is already approved for the treatment of cataplexy or excessive daytime sleepiness in patients seven years or older with narcolepsy.

On Aug.23, Pfizer-BioNTech COVID-19 Vaccine became the first to receive full FDA approval for the prevention of COVID-19 disease in individuals 16 years of age and older. The vaccine will now be marketed as Comirnaty and will also continue to be available under emergency use authorization, including for individuals 12 through 15 years of age and for the administration of a third dose in certain immunocompromised individuals.

Now, let’s take a look at the biotech stocks facing FDA decision in September.

German Unemployment Declines More Than Expected

German unemployment declined in August as firms hired more staff after the restrictions related to the coronavirus pandemic were relaxed, official data revealed on Tuesday.

The jobless rate fell to 5.5 percent in August from revised 5.6 percent in July, the Federal Labor Agency reported. The rate was forecast to drop to 5.6 percent from July’s initially estimated rate of 5.7 percent.

The number of people out of work decreased more-than-expected 53,000 after declining 90,000 in July. Economists had forecast a drop of 40,000.

The labor market has continued to recover, Federal Employment Agency CEO Detlef Scheele, said.

“Unemployment and underemployment have continued to fall sharply, although there is still a summer break,” Scheele said. Employment growth is gaining momentum.

The labor force survey published by Destatis, earlier in the day, showed that the jobless rate fell to a seasonally adjusted 3.6 percent in July from 3.7 percent in June.

The number of unemployed came in at 1.56 million, which was a decline of 19,000 or 1.2 percent on June, the labor force survey revealed.

On an unadjusted basis, the unemployment rate held steady at 3.7 percent in July.

Without seasonal adjustment, the number of persons in employment rose by 121,000, or +0.3 percent in July from the previous month. This month-on-month increase was much higher than the average recorded for July of the three pre-crisis years 2017 to 2019, Destatis reported.

Bizarre Anti-Mask Claims At School Board Meeting Stun Don Lemon Into Silence

School board meetings have been erupting into chaos over mask mandates and other measures intended to stop the spread of the coronavirus pandemic. 

As CNN’s Don Lemon pointed out on Tuesday, the American Academy of Pediatrics said cases among children have risen fivefold over the past month amid the surge of the delta variant. More than 200,000 children tested positive for COVID-19 just last week. 

Yet right wing trolls have invaded school board meetings to stop mitigation efforts, with one in Lee County, Florida, leading to physical brawls outside and such head-spinning claims inside that Lemon was silent for four seconds before responding:

Lucas TVS to build Li-ion battery unit for ₹2,500 cr.

Firm collaborates with U.S.’s 24M Tech

Lucas TVS Ltd. and U.S.-based 24M Technologies Inc. are setting up a ₹2,500-crore factory near Chennai for making semi-solid lithium-ion (Li-ion) battery cells.

The plant, which will produce the battery cells initially for the Indian market, will begin commercial production by the second half of 2023, Lucas TVS said in a statement.

The firm expects to build similar plants throughout India to support the growing energy storage, electric mobility and lead acid battery-replacement markets.

Lucas TVS will be the first to introduce semi-solid lithium-ion batteries produced in India and specifically designed for the Indian market, the company added.

“We believe in investing in next-generation technologies, which is why we chose to partner 24M,” said T.K. Balaji, CMD, Lucas TVS.

“We are confident that their innovative technology will enable us to provide our customers affordable e-mobility, lead acid battery replacement and storage solutions with improved quality and best-in-class safety.”