LONDON: FirstGroup plc has acquired Anderson Travel, a central London based coach company comprising three trading entities, Anderson Travel Limited, Anderson Tours Limited and London Mini Coaches Limited. Anderson Travel currently operates c.40 coaches of varying sizes in and around London from a depot near Tower Bridge in central London and a new, smaller depot…
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ArcelorMittal takes over Nippon Steel’s 50% equity stake in Calvert Joint Venture
AMSTERDAM: ArcelorMittal has entered into a definitive equity purchase agreement with Nippon Steel Corporation (“NSC”) to purchase NSC’s 50% equity interest in the AM/NS Calvert Joint Venture. The transaction has been entered in to at the request of NSC to address regulatory concerns pursuant to its agreed acquisition of US Steel. The Transaction is subject…
Microsoft and CrowdStrike at the center of global IT outage
A major IT outage caused global chaos, impacting millions of users and businesses. The disruption began when Microsoft users encountered the notorious “Blue Screen of Death,” a critical error that left numerous Windows PCs inoperable. The root cause was identified as a faulty update from cybersecurity firm CrowdStrike, leading to widespread disruptions. The immediate and…
GFH Partners launches 7th logistics and industrial fund in the United States
DUBAI: GFH Partners Ltd., the DIFC based global asset management arm of GFH Financial Group, has launched and closed its seventh logistics and industrial fund in the United States. Keeping with GFH Partners’ thematic investment approach, the Fund comprises two types of assets: industrial and transportation logistics. With a total transaction value of US$300 million,…
Syncona Ltd adds iOnctura and Yellowstone Biosciences to it’s portfolio
LONDON: Syncona Ltd has added two new companies to its portfolio, iOnctura and Yellowstone Biosciences. Syncona has invested €30 million (£25.7 million) in iOnctura, an innovative, clinical-stage, small molecule company combating neglected and hard-to-treat cancers, and launched Yellowstone, a new oncology company pioneering soluble bispecific T-cell receptor (TCR)-based therapies, with a £16.5 million commitment. iOnctura…
Electrica and Esyasoft to deploy, finance smart-grid technologies in Romania
BUCHAREST: Electrica Group has announced the signing of a Memorandum of Understanding (MOU) with Esyasoft Holding Ltd. The agreement, signed on May 16, 2024, in Bucharest and witnessed by the Prime Minister of Romania, marks a collaborative effort to deploy and finance smart-grid technologies in Romania, including Advanced Metering Infrastructure (AMI), electric vehicle (EV) charging…
69% of UK secondary students want to learn about AI in school
The world of education is on the cusp of a transformative shift, with Pearson, the foremost authority in learning, uncovering a striking trend: a majority of UK secondary school students (69%) are advocating for a curriculum enriched with generative artificial intelligence (Gen AI). This surge in interest is a response to the escalating presence of…
OpenAI launches new AI model, , GPT-4o and desktop version of ChatGPT
OpenAI unveiled its advanced AI model, GPT-4o, and a new desktop ChatGPT version on Monday, marking a significant leap in accessibility and performance. The launch, streamed live by Technology Chief Mira Murati, introduced the faster and more capable GPT-4o, which enhances text, video, and audio interactions and is available to all users, including those on…
Bregal Milestone acquires Novare Pay, appoints new Chair to Allshares board
In a significant move within the European tech sector, Bregal Milestone, a prominent private equity firm specializing in technology and software, has announced its acquisition of Novare Pay, a renowned Stockholm-based compensation services provider. This strategic acquisition is set to bolster Allshares, a leading software and services provider owned by Bregal Milestone, by integrating Novare…
Xponential Fitness appoints Brenda Morris as interim CEO
Xponential Fitness, Inc. (NYSE: XPOF), a leading health and wellness franchise, has announced a major reshuffle in its top management. Brenda Morris, a seasoned executive with a substantial track record, has been appointed as the interim Chief Executive Officer with immediate effect. Brenda Morris, who has been a part of Xponential’s Board of Directors since…
PIA’s business restructuring receives green light from Securities and Exchange Commission
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has given its nod to the Scheme of Arrangement proposed by Pakistan International Airlines Corporation Limited (PIA). This approval, dated May 6th, 2024 marks a pivotal step in the separation of PIA’s core and non-core business operations. The Federal Cabinet had earlier sanctioned the legal segregation…
Diploma Plc has acquired PAR Group for £38 million
LONDON: Diploma PLC, the international value-add distribution group, has acquired PAR Group (PAR) for ca. £38 million. PAR Group is a UK-based, family-owned supplier of specialist seals and gaskets into a broad range of end markets. Its value-add customer proposition has driven a track record of excellent growth at strong margins. It will form part…