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Zimplistic, creator of flatbread-making robot Rotimatic, secures $30 million in series C funding

“The company subsequently secured angel investment in 2010 and raised funds from investors including Credence Partners, EDBI and NSI Ventures” writes Jonathan Loh for businessinsider.sg. Touted as the first of its kind in the world, Rotimatic combines AI-driven technology with internet connectivity to automate its flatbread making process.The company also received a special mention by Prime Minister Lee Hsien Loong in his National Day speech in 2016.The new investment will be directed towards converting the 25% of the world’s population that eats flatbreads into Rotimatic users, said Zimplistic, noting that…

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Viktor Orban Wins ‘Supermajority’ for Third Consecutive Term in Office

“With around 93 percent of the ballots counted, Hungary’s National Election Office said Orban’s ruling administration had secured almost half of the vote on Sunday” writes Mehmet Yilmaz Anadolu for cnbc.com. Hungarian Prime Minister Viktor Orban has secured a third successive term in office after his right-wing Fidesz party won by a landslide in parliamentary elections. Speaking to supporters outside the Fidesz election headquarters in Budapest shortly before midnight local time, Orban said citizens of the central European nation had given themselves an “opportunity to defend themselves.”. The 54-year-old incumbent,…

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Russian oligarch indicted by Mueller reportedly ‘secured permission’ from Kremlin before mercenaries in Syria attacked US forces

“Yevgeny Prigozhin, a Russian oligarch, reportedly spoke to Kremlin and Syrian officials before a group of Russian mercenaries he’s thought to control attacked US forces earlier this month in Syria” writes Alex Lockie for businessinsider.com. The Pentagon told Business Insider it warned the Russian military before launching a counterattack on the pro-Syrian-government forces. Source: businessinsider.com Share This:

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Economy will expand by 1.9% in 2018 if soft Brexit secured says Niesr

“The UK economy will expand by 1.9 per cent both this year and next, according to the latest forecast from the National Institute of Economic and Social Research (Niesr), but only if ministers secure a soft Brexit” writes Ben Chu for independent.co.uk. Last November, the Organisation for Economic Cooperation projected UK growth of just 1.1 per cent in 2019, while the International Monetary Fund’s most recent report pencilled in 1.5 per cent.It sees support to UK growth over the next two years coming from net trade, helping the economy to rebalance. “Our growth…

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UK healthtech startup Medopad plans $120m fund raise in China deal

“Medopad has been prominently backed by Prime Minister Theresa May during her trade trip to China” writes Matthew Field for telegraph.co.uk. A UK healthcare startup is planning to raise $120m (£84m) in what would be one of the largest early-stage funding rounds for a British company.Founded in 2011, Medopad has secured the first part of its funding round, with $28m from Chinese infrastructure group NWS Holdings.Medopad creates a mobile app that lets doctors remotely monitor and connect to patients and give them health data. During the trip, Medopad announced it…

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Sears stretches for survival with new financial moves

“Struggling U.S. retailer Sears (SHLD), on Wednesday announced a bunch of new financial maneuvers, roughly a month after the company bought itself more time by extending its debt while announcing that it was pursuing new financing” writes Leia Klingel for foxbusiness.com. While Sears’ struggles have been apparent for years with the company aggressively downsizing, this time, the language in the company’s press release discussing the company’s next financial steps suggests that the retailer may soon be out of runway.Sears is continuing to pursue a secured credit facility, consisting of an…

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Sears raises new financing and revises borrowing terms, but sales remain soft

“The company said it remained focused on returning to profitability and had identified $200 million of cost savings unrelated to store closures” writes Austen Hufford for marketwatch.com. The company is also working to obtain a secured credit facility, consisting of $407 million and up to an additional $200 million, all secured by 138 properties. Source: marketwatch.com Share This:

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Theranos is gearing up for a rebound with $100M to get it through 2018

“The embattled blood-testing startup told investors on Friday that it had raised $100 million in a secured debt financing transaction from Fortress Investment Group” writes Lydia Ramsey for businessinsider.de. The financing is subject to product and operational milestones, and includes warrants for 4% of the company equity. Source: businessinsider.de Share This:

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Mitch McConnell: ‘We have the votes’ to pass tax bill

“Senate Majority Leader Mitch McConnell, R-Ky., announced he has secured at least 50 votes needed to pass a $1.4 trillion tax cut bill later this afternoon” writes Al Weaver for washingtonexaminer.com. The Senate can pass the tax bill with just 50 votes because Vice President Mike Pence can vote to break the tie.The GOP secured enough support after expanding small business tax cuts, a move that lured in Sens. Source: washingtonexaminer.com Share This:

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