Wolfspeed, a North Carolina semiconductor manufacturer for electric vehicles, has reached a bankruptcy agreement to reduce its $6.5 billion debt by over two-thirds, effectively wiping out existing shareholders. The company plans to formally file for bankruptcy soon and aims to emerge by the end of 2025, while navigating challenges from rising interest rates and changing government policies.
Need More Context? 🔎
Insurance Data on Increasing Wildfire Severity
Scientists analyzed 44 years of data to demonstrate the increasing frequency and severity of destructive wildfires globally, attributing this trend to climate change. These wildfires not only pose significant risks to human life but also result in substantial economic losses. Want More Context? 🔎
Read more