Category: 3. Business

• 700,000 square-foot facility adds significant manufacturing capacity for aircraft production

• With manufacturing lines in California and Ohio, additional facility will expand Joby’s dual-site manufacturing strategy and leverage Ohio’s deep aerospace talent

• Marks a major step towards Joby’s commitment to double aircraft production in 2027

DAYTON, Ohio–(BUSINESS WIRE)–
Joby Aviation, Inc. (NYSE:JOBY), a company developing electric air taxis for commercial passenger service, today announced it has signed an agreement to acquire a manufacturing facility in the Dayton, Ohio area spanning more than 700,000 square feet. The facility, which is ready for immediate use, will initially support Joby’s plans to double production to four aircraft per month in 2027, while also providing space for significant future growth. The factory complements Joby’s existing production facilities in California and Ohio, with operations in the new facility expected to begin this year.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260107709154/en/

“This site will not only support our near-term plan to double production, it can also serve as a base for significant future growth, as we turn a decade of engineering into the manufacturing scale the market is now demanding,” said JoeBen Bevirt, founder and CEO, Joby Aviation.

“From the world’s first aircraft factory to the Wright-Patterson Air Force Base, Dayton has long been the epicenter of aerospace innovation and we’re proud to be building the next generation of flight right here,” Bevirt added. “The reindustrialization of Ohio has become central to Joby’s story and with unmatched governmental and policy support, we’re ready to make sure that the commercial and defense aircraft that define the future of flight are built right here in America.”

In July 2025, Joby announced the completion of an expanded manufacturing facility in Marina, CA and in October, confirmed the start of propeller blade production in Ohio. To support the planned doubling of production, Joby began procurement of the capital equipment required to double manufacturing capacity last month. At Joby’s site in California hiring is underway to support round-the-clock manufacturing operations.

Ohio Welcomes Joby’s Continued Investment

“From the Wright Brothers to Joby Aviation, Ohio has always been where the future of flight takes shape,” said Ohio Governor Mike DeWine. “Joby’s expanded manufacturing presence in Vandalia and the Miami Valley brings together our state’s rich aviation heritage with our world-class advanced manufacturing workforce to build the aircraft that will redefine how people and goods move through our cities.”

“Joby’s investment in Dayton, bringing thousands of good-paying blue collar jobs back to Ohio, is an incredible testament to Ohio’s long history as a leader in aviation and to the manufacturing renaissance happening all across the states. Thanks to President Donald Trump and private sector leaders like Joby, the United States is finally getting serious about reindustrializing and investing in American jobs after decades of outsourcing and neglect,” said Senator Bernie Moreno (R-Ohio).

“Joby’s expansion builds on Dayton’s legacy as the birthplace of aviation while shaping the future of flight. This new, more than 700,000 square-foot facility will create new jobs for Ohioans and allow Joby to increase its aircraft production. Ohio remains proud to be a hub for companies investing in innovation. Ohio makes the things the world needs, and Joby’s work is an example of that. I’m excited to see what Joby accomplishes with this new facility and will continue advocating for their success,” said Senator Jon Husted (R-Ohio).

“The announcement of the second Joby facility here in Ohio is great news for the Dayton area. Over 5 years ago I worked to ensure the FY22 NDAA included language to allow the Springfield Airport to apply for a program that brought Joby Aviation to our region. I had no doubt that this company would bring high-skill jobs and incredible innovation to our area. Joby Aviation continues to carry on the rich tradition of aviation innovation here in Dayton, Ohio that goes back to the time of the Wright Brothers, and I look forward to seeing what the future holds,” said U.S. Representative Michael Turner (OH-10).

“As the world’s leading advanced air mobility company, Joby’s decision to double down in Ohio speaks to the speed at which advanced technologies can scale in our state and the powerful and collaborative environment Team Ohio and the Dayton Development Coalition have built to support growth of emerging industries in the region,” said JobsOhio President and CEO J.P. Nauseef. “Since Joby first announced its massive air taxi facility in 2023, it is again demonstrating how this state delivers what companies need to move from innovation to production at scale.”

Joby’s manufacturing growth in Ohio comes at a time of significant policy momentum for advanced air mobility (AAM). US Secretary of Transportation, Sean Duffy, recently announced a national strategy for advanced air mobility that provides a clear policy roadmap to accelerate AAM deployment and integration. This alignment comes as the Federal Aviation Administration and DOT prepare to deploy the eVTOL Integration Pilot Program (eIPP) in 2026. By validating operational use cases and flight routes across the country ahead of final Type Certification, the eIPP – paired with the strategy’s policy recommendations – enables regulators, local communities, and industry leaders to prepare for the arrival of advanced air mobility.

About Joby

Joby Aviation, Inc. (NYSE:JOBY) is a California-based transportation company developing an all-electric, vertical take-off and landing air taxi. Joby intends to both operate its fast, quiet, and convenient air taxi service in cities around the world and sell its aircraft to other operators and partners. To learn more, visit www.jobyaviation.com.

Forward-Looking Statements ​​

This release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the development and performance of our aircraft, the growth of our manufacturing capabilities, our regulatory outlook, progress and timing; our plans to acquire an additional facility near Dayton, Ohio and planned manufacturing capacity at that location; our business plan, objectives, goals and market opportunity; plans for, and potential benefits of, our strategic partnerships; and our current expectations relating to our business, financial condition, results of operations, prospects, capital needs and growth of our operations, including the expected benefits of our vertically-integrated business model. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “will”, “should”, “can have”, “likely” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. All forward looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including: our ability to launch our air taxi service and the growth of the urban air mobility market generally; our ability to produce aircraft that meet our performance expectations in the volumes and on the timelines that we project; the acquisition of the additional facility in Dayton, Ohio is subject to certain closing conditions; the competitive environment in which we operate; our future capital needs; our ability to adequately protect and enforce our intellectual property rights; our ability to effectively respond to evolving regulations and standards relating to our aircraft; our reliance on third-party suppliers and service partners; uncertainties related to our estimates of the size of the market for our service and future revenue opportunities; and other important factors discussed in the section titled “Risk Factors” in our Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the “SEC”) on February 27, 2025, our Quarterly Reports on Form 10-Q filed with the SEC on May 8, 2025 and August 7, 2025, and in future filings and other reports we file with or furnish to the SEC. Any such forward-looking statements represent management’s estimates and beliefs as of the date of this release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260107709154/en/

Media:

Charles Stewart

press@jobyaviation.com

Investors:

investors@jobyaviation.com

Source: Joby Aviation, Inc.

Released January 7, 2026

Here are some more pointers I picked up in my month of cash-back app shopping.

Read the fine print

A week into my experiment, I was ready to throw in the towel after spending nearly 30 minutes carefully aligning my phone camera to capture a lengthy grocery store receipt and uploading it repeatedly to Ibotta, without getting credit for my purchase. On closer inspection, I discovered that the cash-back offer couldn’t be combined with the coupons I had used.

I had failed to heed an important tip from Strauss: “Pay attention to exclusions.” The apps’ retail and brand partners establish the parameters for cash-back offers, he says. For example, you might be able to earn cash back only on certain products rather than everything sold on a retailer’s site. And product-specific offers often require you to buy a certain quantity, dollar amount, size or variety of an item to earn the rewards.

Compare offers to find the best deal

Before making a purchase, I checked each app to see if it offered a cash-back reward for the retailer where I wanted to shop. Comparing offers paid off because cash-back amounts can vary greatly. 

For example, a recent check of offers showed that users could earn up to 12 percent cash back on purchases at Macys.com through RetailMeNot, 2.5 percent through Ibotta, 15 points per $1 spent through Fetch and four kicks per $1 spent through Shopkick.

Double-dip

There are ways to earn cash back from multiple apps on the same purchase. For example, I bought Native brand body wash and earned $2 from Ibotta and 3,750 points from Fetch by submitting the receipt on both apps. 

Natalie Van Raalte, senior business development manager at Ibotta, offers another strategy: When you purchase retail gift cards through Ibotta, you instantly receive the gift card numbers and PINs. This allows you to essentially double up on rewards when you use those gift cards to make purchases from online retailers that offer cash back through the app. More than half of my cash-back earnings on Ibotta came from purchasing gift cards.

Rack up rewards without shopping

You don’t have to make purchases to earn points through some cash-back apps.

Fetch lets you earn points by downloading and playing games. You have to allow the app to track your activity on the games so it knows what levels you’ve achieved and can award you accordingly, but if you’re OK with that, answer “yes” when Fetch asks you about tracking.

Shopkick also offers ways to earn points without making purchases. You can click on the “discover” tab and interact with content provided by retailers to unlock kicks. Or, you can get out of the house while earning points by entering select stores and scanning product barcodes; it’s the most common way Shopkick users earn points, Strauss says.

Know your privacy rights

To be clear, all of these apps collect data about you to evaluate your shopping habits and provide you with cash-back opportunities, personalized product recommendations and targeted ads from their brand and retail partners.  

Their privacy policies, available on their websites and in the apps (check the account settings), provide detailed information about the data they collect and how they use it. All four apps I tried allow you to customize your privacy settings. Fetch, Ibotta and RetailMeNot have easy-to-use forms to opt out of letting them sell or share your personal information. Shopkick allows you to opt in or out of information sharing, depending on the privacy laws in your state.

The apps claim to use security measures to protect users’ personal information from unauthorized access, but they acknowledge that data breaches can occur.

A worthwhile experiment

After my monthlong experiment, my husband asked why I was still scanning receipts using the apps. My response: “Why not? It’s an easy way to earn cash.”

I don’t expect to earn anywhere close to $50 a month through RetailMeNot going forward, but I plan to keep using the app to make a few bucks with eligible online purchases. Buying gift cards through Ibotta to pay for purchases has become one of my favorite shopping hacks. I also plan to continue using Fetch, as the app makes it easy to accumulate points by submitting receipts. And Shopkick, while not my favorite, could be great for retirees who have the time to visit multiple stores and scan barcodes to earn cash back without spending a dime.

A word of caution, though: It’s easy to get caught up in the appeal of earning cash back through these apps. If you’re not careful, pursuing rewards can lead to buying things you don’t need.

News Release

January 7, 2026

The City of Toronto has officially opened applications and renewals for the 2026 CaféTO curb lane program, inviting restaurant and bar operators across the city to participate in one of Toronto’s most impactful initiatives supporting local businesses, vibrant main streets and neighbourhood life. 

Launched in 2020 as a rapid pandemic response, CaféTO has grown into a permanent annual program that expands outdoor dining on curb lanes, sidewalks and private patios. In 2026, a year expected to bring increased activity and visitors to Toronto, CaféTO will play an important role in showcasing the city’s diverse local food scene while supporting restaurants, workers and neighbourhood economies. 

In 2025, CaféTO supported approximately 1,500 outdoor dining spaces citywide, including 285 curb lane cafés, 579 sidewalk cafés, many of which can remain in place year-round, and 703 private patio endorsements that allow businesses to have a patio on private property. Participation continues to grow beyond the downtown core, with restaurants across Toronto using outdoor dining to attract customers, strengthen local main streets and create welcoming public spaces. 

As the City prepares for a vibrant year ahead, CaféTO remains part of a broader suite of programs supporting Toronto’s restaurant sector and main streets. The City is building on the success of the 2025 season by continuing to improve efficiency, streamline process and provide earlier application timelines so that most curb lane cafés can be ready for the Victoria Day long weekend. 

Applying for CaféTO  

Restaurant operators interested in participating in the 2026 CaféTO curb lane program can learn more by visiting toronto.ca/cafeTO, where they can review program requirements, sign up for virtual information sessions or request one-on-one support before applying. 

Details:  

• CaféTO curb lane applications are open until 11:59 p.m. on Wednesday, February 11. 

• First-time applicants are encouraged to apply early to allow sufficient time for review and approvals. 

• Returning operators will be contacted by City staff with instructions on renewing through a streamlined process. 

Once applications are submitted, City staff will work closely with operators and local Business Improvement Areas to develop traffic management plans that balance the needs of businesses, residents and road users, including loading zones, waste collection, cycling infrastructure and pedestrian access. 

Experience CaféTO 

The City encourages residents and visitors to explore CaféTO patios and support local restaurants from May through October. With expanded outdoor dining across Toronto, CaféTO helps ensure local businesses are ready to welcome increased activity and visitors, while continuing to create dynamic, inclusive public spaces in neighbourhoods across the city. 

More information about the CaféTO program, including other outdoor dining options such as sidewalk cafes and private patios, is available at: toronto.ca/cafeTO. 

Toronto is home to more than three million people whose diversity and experiences make this great city Canada’s leading economic engine and one of the world’s most diverse and livable cities. As the fourth largest city in North America, Toronto is a global leader in technology, finance, film, music, culture and innovation and climate action, and consistently places at the top of international rankings due to investments championed by its government, residents and businesses. For more information visit the City’s website or follow us on X, Instagram or Facebook.

About Alaska Air Group

Alaska Airlines, Hawaiian Airlines and Horizon Air are subsidiaries of Alaska Air Group, and McGee Air Services is a subsidiary of Alaska Airlines. We are a global airline with hubs in Seattle, Honolulu, Portland, Anchorage, Los Angeles, San Diego and San Francisco. We deliver remarkable care as we fly our guests to more than 140 destinations throughout North America, Latin America, Asia and the Pacific. We’ll serve Europe beginning in spring 2026. Guests can book travel at alaskaair.com and hawaiianairlines.com. Alaska is a member of the oneworld alliance, with Hawaiian scheduled to join oneworld in spring 2026. With oneworld and our additional global partners, guests can earn and redeem points for travel to over 1,000 worldwide destinations with Atmos Rewards. Learn more about what’s happening at Alaska and Hawaiian at news.alaskaair.com. Alaska Air Group is traded on the New York Stock Exchange (NYSE) as “ALK.”

KARACHI:

Pakistan Stock Exchange (PSX) maintained its bullish trajectory on Wednesday, with the benchmark KSE-100 index closing at a fresh record, supported by continued buying from local institutional investors.

The market opened on a weak note, with the index falling sharply in early trade to an intra-day low of 184,896.71. However, sentiment improved as buying interest returned, leading to a broad-based salvage during the late morning and afternoon sessions.

The KSE-100 index touched an intra-day high of 187,015.12 before settling at 186,518.72, up 1,456.61 points, or 0.79%, from the previous close.

Market participants attributed the strong close to sustained institutional flows, which helped the index overcome early pressure and end the session at a new all-time high.

Topline Securities observed that the local bourse remained firmly up and running, extending its stellar momentum to notch an all-time high close at 186,518. The benchmark index witnessed a highly buoyant session, surging to an intra-day high of 1,953 points, while profit-taking remained modest, with the intra-day low capped at 165 points, underscoring the market’s underlying strength.

Optimism has carried over decisively into 2026, with PSX gaining a robust 12,464 points, or +7.2% in the first five trading sessions of the year. The powerful start reflects sustained investor confidence, driven largely by aggressive buying from local funds.

The shift in asset allocation from fixed-income instruments to equities amid declining returns on traditional avenues has continued to fuel liquidity and support elevated valuations, it stated.

Heavyweight stocks once again led from the front with Hub Power, Pakistan Petroleum, Engro Holdings, MCB Bank, and Meezan Bank emerged as key drivers, collectively contributing around 766 points to the index’s advance, Topline added.

Ismail Iqbal Securities stated that the benchmark index closed on a positive note, once again setting fresh all-time highs both intra-day and at market close for the fifth consecutive session.

The 2026 rally continued in full swing, driven by strong liquidity inflows and ongoing asset class conversion, keeping investor optimism firmly intact. Power generation & distribution, oil & gas exploration companies, and cement sectors were the major contributors in Wednesday’s session, cumulatively adding 689 points to the index, the research house added.

Overall trading volume increased to 1.32billion compared with Tuesday’s tally of 1.30billion. Value of traded shares stood at Rs86.5billion. Shares of 486 companies were traded. Of these, 299 rose, 161 fell and 26 remained unchanged. K-Electric continued to secure the volume lead with trading in 77.9million shares, remaining almost flat to close at Rs6.55.

Technically, the main trend is up. A trade through the record high at $4,536.74 will signal a resumption of the uptrend. The main trend will change to down if $4,274.02 fails. However, buyers are likely to reemerge on a pullback into the intermediate 50% level at $4,211.60 and the 50-day moving average at $4,202.03.

The 50-day MA is what’s holding this entire rally together. If it is taken out with heavy selling pressure and conviction, the market could collapse on aggressive long-liquidation. Until then, the market will remain in “buy the dip” mode.

Short-Term Retracement Zone Under Pressure

The short-term range is $4,536.74 to $4,274.02. Gold is currently testing its retracement zone at $4,436.38 to $4,405.38. Holding this area will indicate the presence of strong buyers and a greater chance of a new record high.

However, if $4,405.38 fails as support, the odds of a pullback to last week’s low at $4,274.02 increase.

GPU Lease Financing to Support xAI’s Second Data Center

NEW YORK, Jan. 07, 2026 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that Apollo-managed funds and affiliates (the “Apollo Funds”) have led a $3.5 billion capital solution for Valor Compute Infrastructure L.P. (“VCI”), a fund managed by Valor Equity Partners (“Valor”), to support its $5.4 billion acquisition and lease of data center compute infrastructure, including NVIDIA GB200 GPUs, to a subsidiary of xAI Corp (“xAI”). The financing uses a triple net lease structure and will support one of the world’s most powerful compute clusters for ongoing model training and development of Grok.

NVIDIA invested in VCI as an anchor Limited Partner alongside many of Valor’s institutional investors. Since inception in 2023, xAI has rapidly established its position as one of the leading companies in artificial intelligence, with Grok 4 demonstrating strong performance across benchmarks.

“This transaction represents a hallmark, downside-protected investment for Apollo in the AI infrastructure space and underscores our role as a leading provider of flexible, asset-based capital for next-generation assets,” said Apollo Partner Christopher Lahoud. “We are supporting the growth of this transformative technology by investing in the critical infrastructure that enables it, alongside highly regarded partners like Valor and NVIDIA, who are driving the next wave of innovation.”

“VCI is an extension of our continued service as a firm to xAI. The fund provides investors with the opportunity to invest in critical artificial intelligence compute infrastructure with quarterly cash distributions and upside through ownership of the compute assets,” said Valor Founder, CEO and CIO Antonio Gracias.

Apollo estimates that global data center infrastructure will require several trillion dollars of investment over the next decade, driven by secular trends associated with the Global Industrial Renaissance and accelerating demand for compute capacity and AI workloads. Since 2022, Apollo-managed funds and affiliates have deployed over $40 billionⁱ into next-generation infrastructure, including compute capacity, digital platforms and renewable energy.

Latham & Watkins LLP served as legal counsel to the Apollo Funds, Proskauer Rose LLP served as legal counsel to VCI and Sullivan & Cromwell LLP served as legal counsel to xAI.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of September 30, 2025, Apollo had approximately $908 billion of assets under management. To learn more, please visit www.apollo.com.

About Valor Equity Partners

Valor Equity Partners is an operational growth investment firm focused on investing in high-growth companies across various stages of development. For decades, Valor has served its companies with unique expertise to solve the challenges of growth and scale. Valor partners with leading companies and entrepreneurs who are committed to the highest standards of excellence and the courage to transform their industries. As of December 31, 2025, Valor had approximately $55 billion of assets under management. For more information on Valor Equity Partners, please visit www.valorep.com.

Contacts

Noah Gunn

Global Head of Investor Relations

(212) 822-0540

IR@apollo.com

Joanna Rose

Global Head of Corporate Communications

(212) 822-0491

Communications@apollo.com

^{________________________________
i} Includes certain transactions that have signed but not yet closed. There can be no assurance that these transactions will close as expected or at all.

Zurich, January 7, 2026 – Chubb today announced that Jimaan Sané has been appointed Head of Growth, Global Cyber, effective immediately.

In his new role, Jimaan will oversee the performance and expansion of Chubb’s global cyber growth strategies. Collaborating closely with global distribution and underwriting teams, he will be responsible for delivering Chubb’s premier cyber solutions to clients and brokers across all industry segments and business sizes.

“Jimaan is a highly accomplished leader with a proven track record in driving global cyber growth initiatives,” said Mike Kessler, Vice President, Chubb Group and Division President, Global Cyber Risk. “We are confident that his innovative approach will further enhance our best-in-class cyber solutions and strengthen our position as a leader in the cyber insurance market.”

Jimaan joins Chubb from Beazley Group, where he held a variety of leadership roles in Cyber Risks for over a decade. Most recently, he served as Growth Leader for London and International, overseeing strategy and growth initiatives across London wholesale and international platforms. Jimaan brings extensive experience managing multinational underwriting teams across London, Europe, Canada and Singapore.

About Chubb

Chubb is a world leader in insurance. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. The company is defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb employs approximately 43,000 people worldwide. Additional information can be found at: www.chubb.com.

Media Contact

mediarelations@chubb.com