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Hyperloop One announced Wednesday that it's promoted financial advisor Brent Callinicos to COO and CFO. The company is one of several racing to develop a high-speed train based on a concept developed by entrepreneur Elon Musk.

Top priority: Callinicos' first priority will be raising a Series C in the coming months, he told the Wall Street Journal. While at Uber as the company's CFO for three years, he helped the company raise more than $4 billion in equity and debt funding.

  • The funding round is likely to be large—in October, Forbes reported that the company plans to raise as much as $250 million in early 2017. Reached for comment, Hyperloop One declined to share specifics with Axios about its fundraising plans.

Extra marketing: In the next 90 days, Hyperloop One plans to do a demo of a new track, and while Callinicos says that the fundraising is unrelated to its construction, it will likely be a "flashy public display that is going to cause a spike in demand," he told the Journal.

Why now? Callinicos' promotion is in part due to a recent fight between some of Hyperloop One's executives. Co-founder Brogan BamBrogan and three other execs sued the company last year, alleging mismanagement.

Go deeper

JPMorgan: "Full global recovery" in 2022

Photo: Erik McGregor/LightRocket via Getty Images

JPMorgan Chase Global Research says in a forecast to clients: "2022 will be the year of a full global recovery, an end of the global pandemic, and a return to normal conditions we had prior to the COVID-19 outbreak."

The big picture: The bullish report sees "a return of global mobility, and a release of pent-up demand from consumers (e.g. travel, services)."

Inside Trump's hunt for "disloyal" Republicans

Illustration: Aïda Amer/Axios

Donald Trump and his associates are systematically reshaping the Republican Party, working to install hand-picked loyalists across federal and state governments and destroy those he feels have been disloyal, sources close to the former president tell Axios.

Why it matters: If most or all of Trump’s candidates win, he will go into the 2024 election cycle with far more people willing to do his bidding who run the elections in key states.

2 hours ago - Politics & Policy

CPI: The new jobs number

Grocery shoppers in Washington, D.C., last month. Photo: Ting Shen/Xinhua via Getty Images

The Consumer Price Index has replaced the jobs report as the most anticipated data drop by the U.S. government.

Why it matters: Rising prices tend to lower political fortunes. Washington and Wall Street are now waiting for the CPI number to flash at 8:30am ET around the 10th day of each month. This month's report — due Friday morning — will give a reading of how hot inflation ran in November.