KTM To Sell Majority Stake In MV Agusta, MotoGP Withdrawal Planned – ADV Pulse
KTM To Sell Majority Stake In MV Agusta, MotoGP Withdrawal Planned ADV Pulse Read the original article here
Lilium secures deal to restart operations after near insolvency
Lilium, the Munich-based electric aircraft startup, was on the brink of closure earlier this week, with plans to lay off its more than 1,000 employees after failing to secure additional funding. However, on December 24, a surprise announcement revealed that Lilium had signed an asset purchase agreement with Mobile Uplift Corporation, a consortium of investors…
Prince Harry And Meghan Markle Could Go Bankrupt In 2025? ‘No Substantial Income…’
Last Updated:December 25, 2024, 12:24 IST Royal Family News: Prince Harry and Meghan Markle signed a £80 million contract with the streaming giant in 2020 after they stepped down as senior working royals. Royal Family news: Prince Harry and Meghan Markle are seen. Prince Harry and Meghan Markle have been warned about a key “financial…
The Choices I’ve Made – Democracy Docket
In Ernest Hemingway’s first novel, The Sun Also Rises, one of the characters is asked how he went bankrupt. “Two ways. Gradually, then suddenly.” Nearly 100 years later these lines still ring true. Bankruptcy — whether financial, moral or political — tends to happen gradually until it happens suddenly. The moral bankruptcy of the Republican…
Amsterdam’s Wizenoze shuts shops: Know more
Based out of Amsterdam, Wizenoze, a developer of an online education platform, has been declared bankrupt by the court in Amsterdam on 23-12-2024. Lack of funding, generative AI, and more According to co-founder Diane Janknegt, Wizenoze was doing well and needed funding for product development. They secured an agreement with an investor, but when they…
The manufacturer of stars Mercedes-Benz went bankrupt after 228 years of existence
The supplier of Mercedes-Benz branded “stars” has declared bankruptcy. The German company Gerhardi Kunststofftechnik GmbH failed to cope with the challenges faced by the modern European automotive industry due to the fall in demand for electric vehicles. The company, founded in 1796, survived two world wars but went bankrupt in 2024. This was reported by…
Strategic status for Shalimar Co rejected
ISLAMABAD: A cabinet body on Tuesday refused to declare Shalimar Recording and Broadcasting Company as strategic, directing the Ministry of Information to find its own path to protect the company from becoming insolvent. The Cabinet Committee on State-Owned Enterprises (CCoSOEs) discussed the Ministry of Information’s proposal to authorise Shalimar Recording and Broadcasting Company (SRBC) to…
Electric aircraft startup Lilium ceases operations, 1,000 workers laid off
Lilium, once a darling in the nascent industry of electric aircraft that raised more than $1 billion before going public, has ceased operations and laid off about 1,000 workers after efforts to gain financing and exit insolvency failed. Update: Lilium might be saved after all. The company said in a Dec. 24 announcement that a…
Aviation: Insolvent electric aircraft manufacturer can continue
Lilium manufactures aircraft like this. (archive picture) Keystone The insolvent electric aircraft pioneer Lilium from Germany has found an investor and intends to continue its business. A consortium of investors has signed a purchase agreement for the assets of Lilium’s subsidiaries. As the start-up company announced on Christmas Eve, the consortium is called Mobile Uplift…
Shuttered electric air taxi startup Lilium may be saved after all
A consortium of investors has resurrected Lilium just days after the electric air taxi startup ceased operations and laid off about 1,000 employees. Mobile Uplift Corporation, a company set up by investors from Europe and North America, has agreed to acquire the operating assets of the startup’s two subsidiaries, Lilium GmbH and Lilium eAircraft GmbH,…