LONDON: British hotel group Whitbread Plc on Thursday reported a dip in first-half profit, pressured by a softer German market and the restructuring of its food and beverage operations, but reaffirmed its ambitious five-year plan to boost profitability and return £2 billion to shareholders by 2030. The owner of the Premier Inn chain said adjusted profit…
CLS Holdings leases 14,700 sqm at Gotic Haus, Dortmund
LONDON: CLS Holdings plc (CLS.L) said on Tuesday it has signed an eight-year, index-linked lease for 14,700 square metres of office space at its Gotic Haus property in Dortmund, Germany, with a government department. The lease for the space, equivalent to 158,230 square feet and including 290 parking spaces, is scheduled to commence on September…
IG Group has sold Small Exchange Inc to Payward Inc for $100 million
LONDON: IG Group Holdings plc has completed the sale of Small Exchange Inc to Payward Inc (“Payward”), the parent company of the crypto exchange Kraken. The transaction values Small Exchange at $100.0m (£74.9m), with the consideration comprising $32.5m (£24.3m) in cash and $67.5m (£50.6m) in Payward stock. The sale results in a post-tax gain of…
Oakley Capital agrees sale of atHome
LONDON: Oakley Capital Fund III has reached an agreement to sell its stake in atHome, which operates Luxembourg’s leading property and automotive marketplaces. Oakley Capital, a leading pan-European mid-market private equity investor, is pleased to announce the sale of its stake in atHome to Apax Partners. Following completion of the transaction, Fund III will have…
GB Group has acquired DataTools Pty Ltd FOR AUD 16 million
LONDON: GB Group (GBG), a global identity technology business enabling safe and rewarding digital lives, has acquired DataTools Pty Ltd (“DataTools”), a leading provider of address validation and data quality solutions in Australia and New Zealand. This bolt-on acquisition adds scale where GBG is already enjoying strong growth, deepening our existing address verification presence…
TSMC posts record Q3 profit on surging AI chip demand
TAIPEI: Taiwan Semiconductor Manufacturing Company (TSMC) reported a 39.1% jump in third-quarter profit on Thursday, setting a new record as robust demand for artificial intelligence chips continued to drive growth. The world’s largest contract chipmaker posted net income of NT$452.3 billion ($14 billion), beating LSEG SmartEstimates of NT$417.69 billion. Revenue rose 30.3% year-over-year to NT$989.92…
TrivarX to acquire brain imaging tech from Nucleics
SYDNEY: TrivarX Ltd (ASX: TRI) said on Thursday it will acquire the intellectual property for Stabl-Im™, a novel brain cancer imaging technology, from Australian biotech firm Nucleics Pty Ltd, in a deal aimed at expanding its diagnostics portfolio into neuro-oncology. The Perth and Minneapolis-based company has entered a binding option agreement to acquire 100% of…
Renegade Exploration expands Nevada footprint with Fireball Ridge gold-silver project option
PERTH: Renegade Exploration Ltd (ASX:RNX) said on Thursday it has secured an option over the Fireball Ridge gold-silver project in Nevada, marking its fifth acquisition in the state’s prolific Walker Lane Trend. The Fireball Ridge project, located about 80 km northeast of Reno, is an advanced-stage asset with a history of mining activity dating back…
Liberty Metals secures Brazilian critical minerals portfolio with rutile and rare earths focus
SYDNEY: Liberty Metals Ltd (ASX: LIB) has entered into a binding option agreement to acquire three district-scale critical mineral projects in Brazil, marking a strategic expansion into one of the world’s Tier 1 mining jurisdictions. The portfolio includes the Paraiba Hard Rock Rutile Project, the Rio Grande Heavy Mineral Sands (HMS) Project, and the Alcobaca…
Apple unveils MacBook Pro, iPad Pro, and Vision Pro devices, all powered by a new in-house M5
Apple Inc on Wednesday unveiled refreshed versions of its MacBook Pro, iPad Pro, and Vision Pro devices, all powered by a new in-house M5 chip that the company says significantly boosts performance, particularly for artificial intelligence tasks. The new lineup, available for pre-order immediately and set to go on sale October 22, is Apple’s latest…
Young Germans are investing in stocks and ETFs instead of real estate
BERLIN: A profound generational shift is underway in Germany, a nation long known for its conservative financial habits and a deep-seated love for Betongold (concrete gold), or real estate. The newest generation of investors, Gen Z and Millennials, are boldly turning away from traditional assets and embracing the stock market as their primary vehicle for long-term wealth…
Pakistan grants power agency new role in market overhaul, caps legacy contracts
ISLAMABAD: Pakistan’s power regulator has approved the registration of the Central Power Purchasing Agency (CPPA-G) as a Special Purpose Agent (SPA), a key step in the country’s long-delayed electricity market reforms, but curtailed its future role by strictly limiting it to managing pre-existing contracts. The decision, detailed in a determination by the National Electric Power…