EnergyManufacturingSustainability

Swedish Green Steel Firm Stegra Faces Financial Crisis Amid Investor Jitters

Swedish green steel manufacturer Stegra is confronting a severe financial crisis as its funding gap surges to €1.5 billion. The company, founded by the same financiers behind bankrupt battery maker Northvolt, has approximately 1.7 months of liquidity remaining as it races to secure new financing.

Funding Crisis Deepens for Green Steel Startup

Swedish green steel company Stegra is battling to avoid becoming the second multibillion-euro European green industrial project to face insolvency within a year, according to financial reports. The startup, which has raised $6.5 billion in debt and equity, faces mounting financial pressures just 11 months after its sister company Northvolt, launched by the same Swedish financiers, declared bankruptcy despite raising $15 billion.

Business

Goldman Sachs Loses Veteran Credit Strategist Karoui in Senior Research Departure

Goldman Sachs’s chief credit strategist Lotfi Karoui has exited the firm after nearly two decades, sources confirm. The departure comes alongside other senior research changes at the investment banking giant, including the planned retirement of chief US equity strategist David Kostin.

Senior Leadership Shift at Goldman Sachs

Goldman Sachs’s chief credit strategist Lotfi Karoui has departed the firm after 18 years, according to reports confirmed by the bank. Karoui, who also served as head of credit, mortgages and structured product research, was named to the chief credit strategist position in 2017 and was among 95 executives promoted to partnership in November.