LONDON: Millions of British workers could retire with larger pension pots under government plans to double the number of U.K. pension “megafunds” by 2030, unlocking billions for domestic investment. Reforms set out in the upcoming Pension Schemes Bill will require multi-employer defined contribution (DC) pension schemes and Local Government Pension Scheme (LGPS) pools to manage at least…
Xiaomi unveils Tesla Model Y competitor YU7 in Beijing showrooms
Xiaomi introduced its latest electric SUV in Beijing on Thursday, marking another step in the smartphone maker’s ambitious push into China’s competitive auto market. The YU7, positioned as a rival to Tesla’s popular Model Y, is now on display at 13 Xiaomi retail locations across the capital, with pre-orders set to begin in July. The launch follows the…
TotalEnergies sells 12.5% stake in Nigerian offshore field for $510 million
PARIS: TotalEnergies announced Wednesday that its subsidiary, TotalEnergies EP Nigeria Ltd., has agreed to sell its 12.5% non-operated interest in Nigeria’s OML118 Production Sharing Contract to Shell Nigeria Exploration and Production Company Ltd. for $510 million. The OML118 PSC, located about 120 kilometers (75 miles) south of the Niger Delta, includes the Bonga field, which began production…
Helium Ventures to rebrand as VaultZ Capital, plans bitcoin treasury strategy
LONDON: Helium Ventures plc announced Tuesday a series of strategic moves, including a proposed name change to VaultZ Capital plc, a £1.2 million ($1.5 million) equity fundraise and plans to establish a Bitcoin treasury function. The company entered a non-binding memorandum of understanding with Cayman Islands-based NewQube Holdings Ltd. to manage Bitcoin investments through a…
Xamble Group acquires strategic stake in Malaysia’s loyalty platform B Infinite
SYDNEY: Xamble Group Limited (ASX:XGL), a prominent Southeast Asian influencer technology platform, has announced a strategic investment in B Infinite, one of Malaysia’s top lifestyle-based customer loyalty programs. The investment, made alongside a consortium led by 7-Eleven Malaysia, positions Xamble to further enhance its influencer marketing and social commerce ecosystem. The consortium, comprising Xamble, 7-Eleven…
Stellantis appoints Antonio Filosa as new CEO
MILAN: Auto giant Stellantis appointed North American Chief Operating Officer Antonio Filosa as its new chief executive Wednesday, ending a monthslong search to fill the company’s leadership void. The multinational conglomerate, which owns brands including Jeep, Dodge, Fiat, Chrysler and Peugeot, said it will hold an extraordinary shareholder meeting in the coming days to elect…
Signify names As Tempelman as new CEO
EINDHOVEN: Signify (Euronext: LIGHT), the world’s leading lighting company, announced Wednesday that As Tempelman will become its new chief executive officer starting Sept. 1, pending his appointment to the Board of Management. Current CEO Željko Kosanović will remain interim leader until then. “We are thrilled to appoint As Tempelman as CEO of Signify,” said Gerard…
Playtech Plc signs deal to sell HAPPYBET Germany
LONDON: Playtech plc (LSE: PTEC), along with its subsidiaries (the “Playtech Group”), has announced a definitive agreement with NetX Betting Ltd., a subsidiary of Frankfurt-listed German operator pferdewetten.de AG, regarding the sale of its HAPPYBET business in Germany. The move follows Playtech’s decision to close its Austrian HAPPYBET operations in late 2024 and initiate a…
Seed Capital Solutions proposes acquisition of Cuarta Dimension Medica SL
LONDON: Seed, a London-listed company, said Thursday it has entered into non-binding heads of terms and an exclusivity agreement to acquire Spanish AI-driven imaging diagnostics firm Cuarta Dimension Medica SL (“4DM”). The proposed deal would see Seed issue new shares to 4DM’s shareholders, who would own approximately 90% of the enlarged company, while Seed’s existing…
Rentokil Initial to sell France Workwear Business to H.I.G. Capital for €410 million
LONDON: Rentokil Initial plc has entered into an agreement to sell its France Workwear business to H.I.G. Capital in a transaction valued at approximately €410 million ($465 million), the company announced Wednesday. According to details, H.I.G. Capital has signed a binding put option, committing to complete the acquisition once consultations with employee representatives and regulatory…
Rémy Cointreau announce Franck Marilly as Chief Executive Officer of the Group
The Board of Directors is pleased to announce the arrival of Franck Marilly as the Group’s Chief Executive Officer. He will take office on June 25, 2025, succeeding Éric Vallat. With a rich professional background of more than 30 years within renowned luxury and cosmetics groups, such as Chanel, Unilever and the Japanese group Shiseido,…
Aurora Labs signs MoU with Mayman Aerospace to develop 3D-printed propulsion systems
CANBERRA: Aurora Labs Limited (ASX: A3D), an Australian industrial 3D printing company, announced Wednesday it has entered a Memorandum of Understanding (MoU) with U.S.-based Mayman Aerospace to explore collaborative opportunities in advanced propulsion systems for vertical take-off and landing (VTOL) aircraft. The two-year agreement focuses on developing 3D-printed micro gas turbines for integration into Mayman…