TERRACYCLE ACQUIRES NORTH COAST SERVICES
TerraCycle, a global leader in recycling hard-to-recycle waste streams, has acquired North Coast Services, a New Hampshire-based company specializing in the collection and recycling of universal waste, including electronics waste, televisions, monitors, universal waste lamps and batteries across New England.
TerraCycle Commercial Recycling provides businesses with industrial recycling solutions for universal waste and other hard-to-recycle materials. The division supports companies in meeting regulatory requirements and achieving sustainability goals by managing complex waste streams, including electronics and hazardous materials, advancing TerraCycle’s mission to eliminate waste through innovative recycling practices.
Established in 2011, North Coast Services brings over 60 years of combined experience and specializes in identifying and managing RCRA hazardous waste, as well as handling universal waste such as electronics, fluorescent lamps, batteries, Freonbearing appliances and other complex waste streams.
E-COMMERCE STARTUPS ACCOUNTED FOR ONLY 13% OF TOTAL VC INVESTMENTS IN 2023
Stocklytics.com data shows that the global e-commerce market is projected to reach over $4.1 trillion in 2024, marking a $600 billion increase from the previous year, with expectations to exceed $5.3 trillion by 2026. Despite this growth, venture capital (VC) investments in e-commerce startups have sharply declined, accounting for only 13% of total VC investments in 2023 — half the percentage from a decade ago.
This decline in funding began before the post-pandemic normalization, as interest in online shopping waned and the e-commerce sector matured. Factors such as economic uncertainty, rising interest rates and inflation have compounded challenges for startups, making it difficult to attract new investments. While e-commerce once represented 41% of VC investments in 2017, it has steadily decreased over the past seven years.
In contrast, sectors like software as a service (SaaS) have gained traction, receiving 47% of VC investments in 2023, while manufacturing startups captured another 40%. Despite the drop in funding, e-commerce startups have raised nearly $155 billion over the last decade, with Asian companies, primarily from India and China, receiving $71 billion. In the U.S., startups garnered $40.3 billion, with California as the leading hub, while European e-commerce received $28.9 billion — significantly less than its Asian and U.S. counterparts.
BOEING, IN NEED OF CASH, LOOKING TO RAISE UP TO APPROXIMATELY $19B IN OFFERING
Boeing is aiming to raise approximately $19 billion through a stock offering as it grapples with liquidity challenges amid an ongoing strike. The aerospace company announced plans to issue 90 million shares of common stock and $5 billion in depositary shares, with its stock closing at $155.01 Friday, Oct. 25.
The funds raised will be allocated for various purposes, including debt repayment, working capital and capital expenditures.
Fitch Ratings noted that this offering could enhance Boeing’s financial flexibility and reduce downgrade risks, although it continues to assess the company’s ability to resolve labor disputes.
Last week, Boeing factory workers rejected a new contract proposal, extending a six-week strike that has halted production of its top-selling jetliners. Local union leaders reported that 64% of members voted against the contract.
This labor unrest adds to Boeing’s challenges, following federal investigations linked to an incident involving a 737 Max in January. The strike has significantly impacted cash flow from aircraft deliveries, leading to a third-quarter loss of over $6 billion — the second worst in the company’s history. Boeing’s cash burn reached nearly $2 billion in the quarter, while its debt stands at $58 billion. CFO Brian West indicated that positive cash flow is not expected until the latter half of next year. Shares have dropped 40% year to date.
