LONDON:L Ofgem has approved historic reforms to fast-track clean power plugging into Britain’s electricity grid – with the new system launched by the end of May. The new connections regime abolishes the broken ‘first-come, first-served’ system. This meant unviable, stalled or speculative ‘zombie’ projects blocked hundreds of wind, solar and energy storage developments from connecting, with…
Frasers expands Sports Direct to Australia and New Zealand
LONDON: Frasers Group has entered a strategic partnership with Accent Group to expand its Sports Direct brand across Australia and New Zealand, marking a significant milestone in its international growth ambitions. Accent Group, a leading retailer and distributor of premium lifestyle and sports footwear in Australasia with more than 900 stores and 12 distributed brands,…
Drax Group to acquire HEIT in £199.9 million deal
LONDON: The boards of HEIT and Drax Bidco announced Tuesday they have agreed to terms for a recommended cash acquisition in which Drax Bidco, a wholly owned subsidiary of Drax Group PLC, will acquire all issued shares of HEIT. The deal, valued at approximately £199.9 million ($253 million), will be executed through a court-sanctioned scheme…
Atlas FRM’s bidco offers to acquire De La Rue in £263 million deal
LONDON: ACR Bidco, a company wholly owned by Atlas FRM LLC, has agreed to acquire British banknote printer De La Rue in a recommended all-cash deal worth approximately £263 million ($330 million). Under the terms of the agreement, De La Rue shareholders will receive 130 pence per share. The acquisition will be implemented through a…
Savannah Goldfields appoints Brad Sampson as new CEO
BRISBANE: Savannah Goldfields Limited (ASX: SVG) announced Tuesday the appointment of mining veteran Brad Sampson as its new chief executive officer. Sampson brings more than 30 years of international mining experience, including previous CEO roles at ASX-listed Discovery Metals Ltd and Kore Potash Ltd. He also held senior positions at Newcrest Mining Ltd, where he…
Intel to sell majority stake in Altera to Silver Lake for $8.75 billion
Key Details: – Deal Structure: Intel will sell 51% of its Altera business to private equity firm Silver Lake, valuing Altera at $8.75 billion. – Ownership Post-Deal: Intel retains 49% ownership. – Leadership Change: Raghib Hussain (current Altera executive) will succeed Sandra Rivera as CEO on May 5, 2025. – Expected Close: Second half of…
Sony announces PlayStation 5 price increases
Sony has announced price hikes for some PlayStation 5 (PS5) gaming consoles in multiple markets, including the United Kingdom, Europe, Australia, and New Zealand. The price increases, effective Monday, come as the company grapples with what it describes as a “challenging economic environment,” citing high inflation and fluctuating exchange rates. In a blog post confirming the…
Kraken launches commission-free stock and ETF trading for U.S. clients
SEATTLE: Cryptocurrency exchange Kraken on Monday announced the initial rollout of commission-free trading for over 11,000 U.S.-listed stocks and exchange-traded funds (ETFs), expanding beyond digital assets for the first time. The launch is currently available to clients in New Jersey, Connecticut, Wyoming, Oklahoma, Idaho, Iowa, Rhode Island, Kentucky, Alabama and the District of Columbia, with…
British Steel secures industry support for Scunthorpe plant after government takeover
SCUNTHORPE: More than a dozen companies have offered to help British Steel secure raw materials for its Scunthorpe plant after the British government took control of the business under emergency legislation passed Saturday, officials said. The last-minute intervention was aimed at preventing the permanent closure of Britain’s sole remaining primary steelmaking facility. Without immediate action, the plant’s two…
Tapcheck raises $225 million in equity and debt funding
NEW YORK: Tapcheck, a leading provider of on-demand pay solutions, announced Monday that it has raised $225 million in combined equity and debt financing to accelerate its growth. The funding round includes a $25 million Series A extension led by existing investor PeakSpan Capital and a $200 million credit facility from Victory Park Capital. “We’re…
StoneX to acquire R.J. O’Brien in $900 million deal
NEW YORK: StoneX Group Inc. (NASDAQ: SNEX) announced Monday that it has reached a definitive agreement to acquire R.J. O’Brien (RJO), the oldest futures brokerage in the United States, in a deal valued at approximately $900 million. The purchase will be financed through a combination of cash and StoneX common stock, with the company also…
LINK acquires FireText Communications in UK
OSLO: LINK has acquired UK-based FireText Communications in a move that significantly strengthens its foothold in the British market, particularly within the public sector. The deal adds a scalable and robust SSU platform to LINK’s portfolio. Founded in 2007 and headquartered in Falmouth, UK, FireText Communications is a privately held A2P SSU company that offers a proprietary…