Detroit

In partnership with the City of Detroit, the Rocket Community Fund — the philanthropic arm of Rocket Companies Inc’s (NYSE: RKT) Family of Companies — announced a joint $5-million investment Thursday in the Rehabbed & Ready program. What Happened: In a move to fuel...

StockX LLC said Thursday it has raised $255 million in a funding round led by existing investor Altimeter Capital and Dragoneer Investment Group as a new investor, valuing the e-commerce startup at $3.8 billion. What Happened: StockX raised $195 million in a secondary tender offering and an...

Billionaire Dan Gilbert — the co-founder of Quicken Loans and chairman of Rocket Companies Inc (NYSE: RKT) — and his wife Jennifer are donating $30 million to the Cranbrook Academy of Art, a private school in the Detroit suburb of Bloomfield Hills.  What Happened: Less...

Detroit billionaire Dan Gilbert is investing $500 million over the next 10 years in revitalizing Detroit's neighborhoods. With a net worth of roughly $47 billion, Gilbert is one of the 30 wealthiest people in the world, according to Forbes. Investors and sports fans likely know Gilbert as...

Dan Gilbert's plans to help support the economic recovery of the city of Detroit continued Thursday with the announcement of a $500 million investment to help revitalize city neighborhoods over the next 10 years. What Happened: Gilbert, who owns the NBA’s Cleveland Cavaliers and is...

Detroit native Dan Gilbert is giving back in a major way. Gilbert, the Rocket Companies (NYSE: RKT) chairman and owner of the NBA's Cleveland Cavaliers, will be investing $500 million over the next decade to help revitalize Detroit neighborhoods. The effort is starting with a $15-million...

Michigan was expected to be one of the largest states for sports betting in the country after launching in 2021, and the figures from the first full month of online sports betting support the early predictions. Michigan Sports Betting, One Month In: The figures from the first full month of...

A “violent crash” involving a Tesla Inc (NASDAQ: TSLA) vehicle is under investigation by the National Highway Traffic Safety Administration, Reuters reported Monday. What Happened: The automobile safety agency in the United States said Monday that it had taken cognizance of the “...

Detroit-based Autobooks, a provider of small business banking, cash flow and accounting solutions, announced a $25-million Series B funding round Thursday. What Happened: Autobooks is a fully integrated payments and accounting platform for business, delivered through online banking. The...

Shares of Detroit-based online mortgage and financial services company Rocket Companies Inc (NYSE: RKT) were trading higher by more than 10% Friday morning on no news. Following the gain, CEO Jay Farner had a word of caution for short sellers: be careful. What Happened: Rocket Companies, fresh...

Apple Inc (NASDAQ: AAPL) announced Wednesday it will open its first Apple Developer Academy in Detroit. The project is part of Apple's $100-million Racial Equity and Justice initiative. The company started the initiative last summer after the police killings of Breonna Taylor and George...

Huntington Bancshares Inc (NASDAQ: HBAN) and TCF Financial Corporation (NASDAQ: TCF) announced late Sunday the two banks have agreed to merge in an all-stock deal. What Happened: The combined company will have a market valuation of $22 billion and continue to operate under the Huntington ...

The construction business has boomed during the coronavirus pandemic.  That’s according to Seth Helfman, the president at City Contracting Services, one of the biggest contractors in Michigan. Over almost 20 years, Helfman has witnessed countless economic cycles and their impact on...