Redwood Materials said on Tuesday it had raised more than $1 billion in new funding as the battery materials firm, founded by former Tesla executive JB Straubel, seeks to expand its operations in the United States. The company in February received a conditional commitment for a $2 billion loan from the U.S. Energy Department to build a $3.5-billion recycling and re-manufacturing complex in Nevada for electric-vehicle battery materials. The latest funding round for Redwood, founded in 2017 by Straubel, was co-led by Goldman Sachs Asset Management, Capricorn's Technology Impact Fund and funds...…Redwood Materials said on Tuesday it had raised more than $1 billion in new funding as the battery materials firm, founded by former Tesla executive JB Straubel, seeks to expand its operations in the United States. The company in February received a conditional commitment for a $2 billion loan from the U.S. Energy Department to build a $3.5-billion recycling and re-manufacturing complex in Nevada for electric-vehicle battery materials. The latest funding round for Redwood, founded in 2017 by Straubel, was co-led by Goldman Sachs Asset Management, Capricorn's Technology Impact Fund and funds...WW…

ADVERTISEMENTSHAREBy Lananh Nguyen, Saeed Azhar, and Scott MurdochWASHINGTON/HONG KONG (Reuters)—Top U.S. bankers came under pressure from lawmakers on Wednesday to take a tougher stance on doing business with China amid growing tensions between Washington and Beijing over Taiwan's sovereignty and China's human rights record.During a hearing before the U.S. House Financial Services Committee, Republican congressman Blaine Luetkemeyer pressed bank chief executives on how they would respond in the hypothetical event of a Chinese invasion of Taiwan.Lawmakers also asked the CEOs to condemn...…ADVERTISEMENTSHAREBy Lananh Nguyen, Saeed Azhar, and Scott MurdochWASHINGTON/HONG KONG (Reuters)—Top U.S. bankers came under pressure from lawmakers on Wednesday to take a tougher stance on doing business with China amid growing tensions between Washington and Beijing over Taiwan's sovereignty and China's human rights record.During a hearing before the U.S. House Financial Services Committee, Republican congressman Blaine Luetkemeyer pressed bank chief executives on how they would respond in the hypothetical event of a Chinese invasion of Taiwan.Lawmakers also asked the CEOs to condemn...WW…

ADVERTISEMENTSHARE(Reuters) – The Dow Jones Industrial Average was down more than 20% from its Jan. 4 record closing high on Friday, putting it on track to confirm a bear market at the close.The index would confirm it has been in a bear market if it ends more than 20% below the record closing high, according to a widely used definition.The Dow Jones Industrial Average briefly slipped below 29,439.72, the minimum level it needs to close at to confirm a bear market.At 12:20 p.m. ET, the index was down 619.10 points, or 2.06%, at 29,457.58.The S&P 500 was down 82.98 points, or 2.21%, at...…ADVERTISEMENTSHARE(Reuters) – The Dow Jones Industrial Average was down more than 20% from its Jan. 4 record closing high on Friday, putting it on track to confirm a bear market at the close.The index would confirm it has been in a bear market if it ends more than 20% below the record closing high, according to a widely used definition.The Dow Jones Industrial Average briefly slipped below 29,439.72, the minimum level it needs to close at to confirm a bear market.At 12:20 p.m. ET, the index was down 619.10 points, or 2.06%, at 29,457.58.The S&P 500 was down 82.98 points, or 2.21%, at...WW…