New York Community Bank said Thursday it lost 7% of its deposits in the turbulent month before announcing a $1 billion-plus capital injection from investors led by former Treasury Secretary Steven Mnuchin’s Liberty Strategic Capital. The bank had $77.2 billion in deposits as of March 5, NYCB said in an investor presentation tied to the … Read more
Robert Habeck, German Minister for Economy and Climate Protection and Vice Chancellor, is pictured during the weekly meeting of the cabinet on February 21, 2024 in Berlin, Germany. Florian Gaertner | Photothek | Getty Images Germany’s gross domestic product is now expected to grow by just 0.2% this year, as the country wades in “tricky … Read more
Hey, folks, welcome to Week in Review (WiR), TechCrunch’s regular newsletter covering the major happenings in the tech-o-sphere — or most of them, anyway. As the world’s largest AI conference, NeurIPS, got underway in sunny New Orleans, Google shared more on Gemini, its flagship AI model family — and lots happened elsewhere. In this edition … Read more
Ford will cut production of its all-electric pickup truck in 2024 in an effort to match consumer demand, the automaker confirmed to TechCrunch. Ford executives signaled in October during its third-quarter earnings call plans to”adjust” production of its all-electric vehicles and delay about $12 billion in investments due to softening demand for higher priced premium … Read more
The current trial was sponsored by Novo Nordisk, the maker of Wegovy and Ozempic, and tracked patients for two years at locations worldwide. Half of the participants received weekly injections of semaglutide while the other half received a placebo. Neither group knew which they were getting. More than three-quarters of the patients had previously experienced … Read more
Still life of Wegovy an injectable prescription weight loss medicine that has helped people with obesity. It should be used with a weight loss plan and physical activity. Michael Siluk | UCG | Getty Images Novo Nordisk’s Wegovy cut the risk of serious cardiovascular complications in people with obesity and heart disease in a closely … Read more
Herman Narula, co-founder and CEO at Improbable, speaks during a session at the Web Summit in Lisbon. Henrique Casinhas | Sopa Images | Lightrocket | Getty Images Virtual reality startup Improbable said Wednesday that it reduced losses by 85% in 2022, a year that saw the company pivot its focus to powering new “metaverse” experiences. … Read more
Hey, of us, welcome to Week in Evaluate (WiR), TechCrunch’s common publication that recaps the week in tech. Hope the summer time’s treating y’all nicely — it’s a balmy 90 levels right here in NYC! — and that some much-needed R&R is on the agenda. Talking of “agenda,” mark your calendars for Disrupt, TC’s annual … Read more
Taxfix leaped to a $1 billion valuation in 2022 on the again of a well-liked cell app utilized by shoppers assist with tax returns. However quick ahead to 2023, and the Berlin-based accounting startup is taking an audit of its personal affairs. TechCrunch has discovered and confirmed that Taxfix has laid off 20% of its … Read more