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Finance

Providing perspective and contextual insights on the monetary aspects of the Finance industry within the state of Utah, from Banking to FinTech and from venture capital to cryptocurrency.

BREAKING NEWS: Five Utah Universities Make the Wall Street Journal's "2025 Best Colleges in the U.S." Ranking

BREAKING NEWS: Five Utah Universities Make the Wall Street Journal's "2025 Best Colleges in the U.S." Ranking

The five Utah-based universities to make the WSJ's 2025 list are (in alphabetical order), Brigham Young University, the University of Utah, Utah State University, Utah Valley University, and Weber State University. However, among all 500 ranked universities, BYU was ranked No. 1 as "... the most highly

Top 23 Utah-focused Monetary, Financial and/or Business News Nuggets from August 2024 that You Might have Missed

Top 23 Utah-focused Monetary, Financial and/or Business News Nuggets from August 2024 that You Might have Missed

{AUTHOR'S NOTE: Clearly, not every news announcement deserves to be the top story of the day. Nevertheless, many news items are significant and should be acknowledged as such. And in this writeup, you'll find info about 20 Utah-based firms and 18 separate executives that we

NEWS BRIEF: Utah Office of L3Harris Technologies has Landed a $587 Million U.S. Navy Contract

NEWS BRIEF: Utah Office of L3Harris Technologies has Landed a $587 Million U.S. Navy Contract

The Salt Lake City, Utah-based office of L3Harris Technologies (NYSE:LHX) has just been awarded a $587 million contract by the U.S. Navy. According to the U.S. Department of Defense, the L3Harris contract is a five-year engagement (from August 2024 through August 2029) "... for the

NEWS BRIEF: Utah-based Extra Space Storage has Raised $400 Million in a Senior Note Offering Priced at 5.35% that's Due in Early 2035

NEWS BRIEF: Utah-based Extra Space Storage has Raised $400 Million in a Senior Note Offering Priced at 5.35% that's Due in Early 2035

Cottonwood Heights, Utah-based Extra Space Storage (NYSE:EXR) has raised $400 million in a senior note (bond) offering that matures 15 January 2035 at a 5.35% return. According to the company news release, "BofA Securities, PNC Capital Markets LLC, Truist Securities, BMO Capital Markets, J.P. Morgan,

Led by Utah Tech OG, Wes Swenson, Utah-based Novva Data Centers Will Spend $3.0 Billion to Build a 300MW Data Center in Arizona, its Sixth Since its July 2020 Launch

Led by Utah Tech OG, Wes Swenson, Utah-based Novva Data Centers Will Spend $3.0 Billion to Build a 300MW Data Center in Arizona, its Sixth Since its July 2020 Launch

In a project Novva expects will take 10 million hours to construct over a decade, the new environmentally friendly data center will include 1.3 million-square-feet of facilities located on 160 acres in Mesa, Arizona, and will use an "innovative water-free air-cooling system, which is

Utah-based Purple Innovation is Closing its Two Manufacturing Plants in Utah, Will Layoff Approximately 13% of its Staff, and Expects Restructuring Costs of $35 Million to $45 Million

Utah-based Purple Innovation is Closing its Two Manufacturing Plants in Utah, Will Layoff Approximately 13% of its Staff, and Expects Restructuring Costs of $35 Million to $45 Million

Purple will consolidate its manufacturing operations to its 520,000-square-foot facility in McDonough, Georgia facility (which it opened in 2020). With this restructuring, Purple has laid-off employees from its Lehi, Utah headquarters and expects to shutter its Grantsville, Utah and Salt Lake City plants sometime in Q1

NEWS BRIEF: Utah-based Carketa Lands $4.4 Million in Early Growth Round of Venture Capital Funding

NEWS BRIEF: Utah-based Carketa Lands $4.4 Million in Early Growth Round of Venture Capital Funding

Lehi, Utah-based Carketa has received $4.4 million in an early growth round of venture capital funding. According to its news release, the Carketa funding round "... was led by new investor Capital Eleven, with participation from both new and existing investors, including Crosslink Capital, Origin Ventures, Allegis Capital,