Blog Archive

NextNav To Go Public In Merger Deal With Spartacus Acquisition

(RTTNews) – NextNav, a provider of next generation GPS, and Spartacus Acquisition Corp. (TMTS, TMTSW, and TMTSU), a special purpose acquisition company, announced Thursday a definitive merger agreement, which will result in NextNav becoming a public company. Upon the deal closure, the combined company will be named NextNav Inc., and its common stock and warrants will be listed on the Nasdaq under the ticker symbol “NN” and “NNW”, respectively. NextNav expects gross proceeds of up to $408 million from the business combination to be used to fuel growth in its current businesses, continue to build NextNav’s next generation GPS platform, expand products one of which is already deployed in 4,400 cities, and to expand its land-based radio positioning and timing network. NextNav’s platform serves a $100 billion global total addressable market in public safety, e911, mass market consumer apps, eVTOLs, UAVs and autonomous vehicles, IoT and critical infrastructure, and many other sectors. Beyond its technology and intellectual property, NextNav owns a one-of-a-kind portfolio of nationwide spectrum licenses for 2.4 billion MHz-PoPs of 900 MHz spectrum. NextNav will continue to be led by Ganesh Pattabiraman, Co-Founder, CEO and President of NextNav. Gary Parsons, Chairman of NextNav’s Board of Directors for

Shizuoka Prefecture — Moody's assigns A1 to Shizuoka Prefecture's bonds (Japanese only)

European Economics Preview: ECB Monetary Policy Announcement Due

(RTTNews) – The monetary policy announcement is due from the European Central Bank on Thursday, headlining a light day for the European economic news. The main refi rate is expected to be retained at a record low zero percent. Markets expect the bank to maintain its current asset purchase programme and to avoid any tapering talk. The outcome of the governing council meeting of the ECB is due at 7.45 am ET. After the meeting, ECB Chief Christine Lagarde holds the press conference in Frankfurt at 8.30 am ET. Other economic reports due for the day are as follows: At 2.00 am ET, Statistics Norway publishes consumer and producer prices for May. Inflation is expected to slow marginally to 2.9 percent from 3 percent in April. At 2.45 am ET, France industrial output data is due. Economists forecast production to climb 0.5 percent on month, slower than the 0.8 percent increase in March. At 3.00 am ET, consumer prices from the Czech Republic and industrial production from Slovakia are due. The Czech inflation is seen at 3.2 percent in May versus 3.1 percent in April. Half an hour later, Statistics Sweden publishes consumer price figures

Twitter Appoints Mimi Alemayehou As Independent Director

(RTTNews) – Twitter Inc. (TWTR) said that it has appointed Mimi Alemayehou as a new independent director, effective immediately. Jesse Cohn will be stepping down after an important year on the Board. Mimi Alemayehou has more than 20 years of investment and finance experience. She currently serves as Senior Vice President for Public-Private Partnerships at Mastercard. Before joining to Mastercard, Alemayehou was the Managing Director and a Board member for investment platform Black Rhino Group, a portfolio company of Blackstone. Alemayehou was previously appointed by President Barack Obama to serve as Executive Vice President of the Overseas Private Investment Corporation. As one of Twitter’s largest shareholders, Elliott Investment Management will continue to engage with members of the Company’s senior management team and Board, facilitated by the Information Sharing and Engagement Agreement the Company entered into with Elliott, Twitter said in a statement.

Soft Start Predicted For Indonesia Stock Market

(RTTNews) – The Indonesia stock market has alternated between positive and negative finishes through the last four trading days since the end of the six-day winning streak in which it had surged more than 330 points or 6.5 percent. The Jakarta Composite Index now sits just beneath the 6,050-point plateau although it’s likely to tick lower again on Thursday. The global forecast for the Asian markets is slightly soft ahead of key U.S. inflation data later today. The European markets were mixed and the U.S. bourses were down and the Asian markets figure to split the difference. The JCI finished modestly higher on Wednesday following gains from the financial shares and resource stocks. For the day, the index climbed 48.11 points or 0.80 percent to finish at the daily high of 6,047.48 after moving as low as 5,972.45. Among the actives, Bank Danamon Indonesia advanced 0.87 percent, while Bank CIMB Niaga collected 0.53 percent, Bank Negara Indonesia climbed 1.81 percent, Bank Central Asia gathered 1.56 percent, Bank Mandiri rallied 2.50 percent, Bank Rakyat Indonesia added 0.48 percent, Indosat surged 6.67 percent, Indocement tumbled 1.89 percent, Semen Indonesia spiked 2.21 percent, Indofood Suskes retreated 1.57 percent, United Tractors fell 0.21 percent,