𝗴𝗲𝘁𝗾𝘂𝗶𝗻 𝗗𝗮𝗶𝗹𝘆 𝗦𝘂𝗺𝗺𝗮𝗿𝘆 𝟭𝟲.𝟬𝟲.𝟮𝟬𝟮𝟮

Hello getquin!

Today its about an upcoming lawsuit against NIO, Upvest and Revlon. Enjoy and have a pleasent rest of the week!

𝗘𝘂𝗿𝗼𝗽𝗲 🌍:

𝘈𝘶𝘥𝘪 𝘴𝘶𝘦𝘴 𝘕𝘐𝘖Chinese car manufacturers are expanding their presence in Europe. This occasionally leads to conflicts. Audi is currently seeking legal action with one of the Chinese electric newcomers. According to the company, VW's luxury division has sued Nio in Munich. Some of the models, which are being offered in Europe for the first time, infringe Audi's trademark rights.

Two Nio SUVs with the model numbers ES6 and ES8 are specifically mentioned in the lawsuit. The S6 and S8 are two sporty sedans that Audi has been selling for some time. The VW subsidiary in Ingolstadt claims that the model names of Nio's new electric vehicles are too similar to those of previously launched Audi models.

More on the legal dispute:
https://bit.ly/3xzcXqi

🟥 $VOW3 (-2,3%)
(🔽 -3,21%)

🟥 $NIO (-3,82%)
(🔽 -7,5%)

2. 𝘜𝘱𝘷𝘦𝘴𝘵 𝘤𝘭𝘰𝘴𝘦𝘴 𝘧𝘪𝘯𝘢𝘯𝘤𝘪𝘯𝘨 𝘳𝘰𝘶𝘯𝘥

After the big hype comes the big disillusionment: The price declines of tech stocks in recent months have dampened the mood. Financial start-ups are also feeling the effects of this trend (fintechs). Financiers are more cautious now that they had the opportunity to pick their investors in 2021.

However, the boom in venture capital seems to be continuing in one sector: B2B fintechs, which are typically other fintechs and focus on business customers (business-to-business). For example, the Berlin-based fintech Upvest informed that it has raised $42 million (around €40 million) in a funding round. Compared to the last financing round, which took place about a year ago, this increases the company's valuation by more than five times to a low three-digit million amount. Upvest does not want to give any concrete figures.

More about the start-up:
https://bit.ly/3tDNz1I

𝗔𝗺𝗲𝗿𝗶𝗰𝗮🌎:

𝘙𝘦𝘷𝘭𝘰𝘯 𝘧𝘪𝘭𝘦𝘴 𝘧𝘰𝘳 𝘣𝘢𝘯𝘬𝘳𝘶𝘱𝘵𝘤𝘺 𝘱𝘳𝘰𝘵𝘦𝘤𝘵𝘪𝘰𝘯Revlon filed for Chapter 11 bankruptcy protection on Wednesday night as it struggles with a heavy debt load and a broken supply chain. The company said it expects to obtain $575 million in financing from its existing lenders to support day-to-day operations. Revlon is the first major consumer-facing company to file for bankruptcy protection amid years of retail distress.

Revlon produces a variety of cosmetics and the company employs about 6800 people.