LONDON: Perseus Motor Corporation, Europe’s first AI-native electric vehicle brand, announced a strategic alliance Tuesday with software-defined vehicle leader SODA.Auto to co-develop what they term the world’s most advanced artificial intelligence-powered Human-Machine Interface (HMI). The partnership aims to create a vehicle that learns and adapts to its driver’s habits and emotional state, moving beyond traditional…
Goldman Sachs-backed Petershill Partners to delist from London at £3.4bn valuation
LONDON Investment firm Petershill Partners (PHLL.L), backed by Goldman Sachs (GS.N), said on Friday it plans to delist from the London Stock Exchange, becoming the latest company to quit the city’s equity market in a deal valuing it at about £3.4 billion. The FTSE 250 group, which provides retail investors access to private equity and…
Starbucks to close stores, cut jobs in $1 billion restructuring push
Key Points: Starbucks announced a major restructuring plan on Thursday that includes shuttering underperforming stores in North America and cutting 900 jobs, as Chief Executive Brian Niccol presses ahead with his strategy to streamline the coffee chain and reignite growth. The $1 billion effort comes as Starbucks grapples with six straight quarters of sales decline…
EU car sales rise in August; Chinese brands gain ground as Tesla slips
BRUSSELS: Car sales across the European Union, Britain and the European Free Trade Association rose 4.7% in August to 800,000 units, according to data released Thursday by the European Automobile Manufacturers’ Association (ACEA). Volkswagen and Renault posted year-on-year gains of 4.8% and 7.8%, respectively, while Stellantis saw a 2.2% increase — its first growth since…
Handgards LLC acquires Albany Packaging USA to expand foodservice offerings
EL PASO: Handgards, LLC, a leading distributor of foodservice products and a portfolio company of Wynnchurch Capital, L.P., announced Thursday it has acquired Albany Packaging USA, a Florida-based distributor of paper-based foodservice packaging. Albany Packaging, headquartered in Deerfield Beach, specializes in paper folding cartons and other packaging solutions sold to supermarkets, bakeries, restaurants and convenience…
Fingrid to raise grid service fees by 8% in 2026 amid clean energy investments
HELSINKI: The transmission system operator Fingrid will raise grid service fees by 8% at the start of 2026. Key factors behind the increase are a substantial investment programme that anticipates future customer needs and the rising costs of the expanding electricity system. Grid connection fees will also be increased to reflect cost developments. In recent…
CPP Group announces CEO transition, board overhaul, and deep cost cuts
LONDON: CPP Group Plc (CPP.L) said on Tuesday it was reorganising its leadership and implementing significant cost reductions, including the closure of its Leeds office, to align its structure with its refocused business strategy. The announcement, made ahead of interim results due on Sept. 29, follows the completion of a change programme and the recent…
OCI Global swings to net profit on methanol sale, plans European unit divestment
Company made a net profit attributable to shareholders of $343 million in H1 2025, compared to a loss a year earlier AMSTERDAM: Fertilizer maker OCI Global reported a net profit for the first half of 2025, driven by a major asset sale, but its core European nitrogen business faced pressure from rising gas prices and plant…
Chariot Limited reports interim results, outlines strategic split into upstream and renewable units
LONDON: Africa-focused energy company Chariot (AIM: CHAR) on Thursday reported its unaudited interim results for the six months ended June 30, 2025, unveiling a strategic pivot to split its operations into two standalone business units: Upstream Oil & Gas and Renewable Power. CEO Adonis Pouroulis said the company had “emerged from a challenging period” with…
Centaur Media agrees for the sale of Marketing Week and Creative Review
LONDON: Centaur Media Plc has signed an unconditional sale and purchase agreement with Haymarket Media Group Limited for the sale of MWCR Limited, being the operating company of Marketing Week, Festival of Marketing and Creative Review, for an enterprise value of £3.9 million. Martin Rowland, Executive Chair of Centaur, commented: “Today’s announcement represents further progress…
TasFoods signs $2 million deal to sell Pyengana Dairy to AgFood-linked group
LAUNCESTON: TasFoods Ltd (ASX:TFL) said on Thursday it has signed a business sale agreement to divest its Pyengana Dairy unit to Research Corporation Pty Ltd and its associates, including the MSC ATF AgFood Opportunities Fund, in a deal valued at up to A$2 million. The transaction includes A$1.7 million in cash and up to A$300,000…
Computershare sells UK Mortgage Services unit to Pepper Advantage
MELBOURNE: Australia’s Computershare Limited (CPU.AX) said on Thursday it has agreed to sell its UK Mortgage Services business to credit management firm Pepper Advantage, as part of a strategy to simplify its operations and improve earnings quality. The share registry giant expects the transaction to close in the third quarter of its 2026 fiscal year, pending…