TECHNOLOGY

Samsung Electronics announced plans to spend $22 billion to invest in autonomous driving, the Internet of Things (IoT) and robotics businesses. The funds will go towards hiring artificial intelligence researchers in 1,000 artificial intelligence centers worldwide as well as investing in the company’s biopharmaceutical arm. Read more at The New York Post.

 

ENERGY

Starwood Property Trust Inc. has entered into an agreement to acquire a General Electric Co. energy-finance business for $2.56 billion. The GE portfolio includes $2.1 billion of 51 loans and $400 million of unfunded commitments. Read more at Yahoo Finance.

 

DEVELOPMENT

Construction at the 800-foot-tall 111 Murray condo tower in Tribeca is complete with 70 percent of the 157 apartments having already been sold. The 64-story structure features amenities designed by David Rockwell including a residents lounge, private garden, in-house patisserie and two pools. Read more at Curbed New York.

 

FINANCE

New York-based Even Financial closed its Series A round of funding with $18.8 million investments led by GreatPoint Ventures. This brings the online loan matching service provider’s total raised to $25 million since it was founded in 2015. Read more at the New York Business Journal.

 

MASS MEDIA

The New York Times added 109,000 digital-only subscribers in the second quarter of the year for a total of 2.9 million out of 3.8 million subscribers total. The publication’s revenue increased 20 percent during the same time period to $99 million. Read more at The New York Times.