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Donald Trump Blamed for UK's Economic Woes
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Dr. Oz Accused of Underpaying Medicare Taxes Ahead of Nomination Hearing
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New VAT-free foods: Most canned veg still excluded, but oxtail, tongue may be in
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M&A and IPOs slump under Trump: 'It's almost as bad as Covid.'
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TQM in the Digital Age: How AI and Automation Are Transforming Quality Management
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Empowering workers and SMEs: key digital inclusion strategies from the B20 Summit
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Why Filing Your Taxes Early Could Save You Stress and Money
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Hong Kong's AIA misses VONB estimates, unveils $1.6 billion buyback
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Publicis New York CEO Carla Serrano and the downside of Trump's war against all
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AI's Expanding Role In Retail And E-Commerce: Balancing Efficiency With Human Touch
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Thu, March 13, 2025
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Trump imposes sweeping 25% steel and aluminum tariffs. Canada and Europe swiftly retaliate
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Too early to discuss unblocking foreign funds in Russia, finance ministry says
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The Art Of Risk Management And Navigating Uncertainty
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The US Is Undergoing a Corporate Coup. Sudan Shows How Dangerous It Can Become.

End of the road for EV battery maker that raised $15 billion from investors including Goldman Sachs and BlackRock


  Copy link into your clipboard //business-finance.news-articles.net/content/202 .. stors-including-goldman-sachs-and-blackrock.html
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  The Swedish company aimed to become Europe's main EV battery maker and take on Chinese rivals, but filed for Chapter 11 protection in November.

Northvolt, a Swedish electric vehicle battery startup, has filed for bankruptcy protection in Sweden, despite having raised significant funds from investors like Goldman Sachs, BlackRock, and Volkswagen. The company, which aimed to challenge Asian dominance in the EV battery market, faced challenges including production delays, cost overruns, and a significant drop in demand for electric vehicles. Northvolt's financial difficulties were compounded by a failed attempt to secure a $5 billion loan from the U.S. Department of Energy, which was crucial for its expansion plans. The bankruptcy filing comes as a surprise given the company's high-profile backing and its plans to build one of Europe's largest battery factories. However, Northvolt has stated that it will continue operations while restructuring, aiming to emerge stronger and more focused on sustainable battery technology.

Read the Full Insider Article at:
[ https://www.businessinsider.com/northvolt-files-bankruptcy-ev-battery-maker-sweden-goldman-blackrock-vw-2025-3 ]

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