MUMBAI: Torrent Pharmaceuticals Ltd. on Sunday said it has entered into definitive agreements to acquire a controlling stake in JB Chemicals and Pharmaceuticals Ltd. from global investment firm KKR in a deal valued at ₹25,689 crore ($3 billion) on a fully diluted basis, to be followed by a merger of the two companies. The acquisition…
BNP Paribas to acquire HSBC’s German Custody Business
FRANKFURT: BNP Paribas announced Thursday that its Securities Services business has agreed to acquire the custody and depositary bank operations of HSBC Continental Europe S.A. in Germany, pending regulatory approvals. The deal will bolster BNP Paribas’ position as a top custodian and depositary bank in Germany, aligning with its growth strategy in institutional funds and financial…
Altimetrik to acquire SLK Software to boost AI, digital engineering services
DETROIT: Altimetrik, an AI, data and digital engineering solutions company, announced Thursday it has signed a definitive agreement to acquire SLK Software, a global technology services firm specializing in AI, intelligent automation and analytics. The deal will enhance Altimetrik’s end-to-end services and expand its customer base, advancing its goal of reaching $1 billion in annual…
Stocks soar to record highs despite trade turbulence: What’s next for markets?
“Dow Jones Surges 400 Points as Tech Stocks Rally; Nike Leads Gains” Wall Street shrugged off fresh trade tensions Friday as the S&P 500 and Nasdaq Composite surged to record highs, fueled by optimism over U.S.-China trade progress and expectations of Federal Reserve rate cuts later this year. Markets Hit New Peaks The S&P 500…
McGraw Hill files for U.S. IPO
McGraw Hill, a leading textbook publisher and educational course provider owned by billionaire Tom Gores’ Platinum Equity, filed for an initial public offering (IPO) in the U.S. on Friday, according to a statement. The move comes nearly four years after Platinum Equity acquired the company for $4.5 billion and aligns with a resurgence in the…
Rytoriacap acquires ASC Engineered Solutions’ Blossburg Foundry
BLOSSBURG: Rytoriacap Inc. (“Rytoria”), a North American leader in circular metal processing and recycling, has acquired ASC Engineered Solutions’ foundry and associated facilities in Blossburg, Pennsylvania, the companies announced Thursday. The sale follows ASC’s effort to find a buyer committed to maintaining the site as an active part of Tioga County’s industrial economy. “Blossburg is…
US inflation rate rose to 2.7% in May, more than expected
Fed eyes summer trajectory as inflation cools, consumption contracts WASHINGTON: Inflation crept higher in May but showed further signs of deceleration, reinforcing expectations that the Federal Reserve may keep interest rates steady in the near term as it assesses the economy’s slowing momentum. The personal consumption expenditures price index — the Fed’s preferred inflation gauge…
UK production of new cars and commercial vehicles dropped 32.8% in May
LONDON: U.K. vehicle production fell sharply for a fifth consecutive month in May, reaching its lowest level since 1949 outside of the COVID-19 pandemic, as trade pressures and factory changes continued to disrupt the industry, new data showed Friday. The Society of Motor Manufacturers and Traders reported that production of new cars and commercial vehicles…
Super Link to acquire all assets of Multistack International
SYDNEY: Multistack International Limited (ASX: MSI) announced Friday that it plans to sell all assets and liabilities to Super Link Company Limited, marking an end to its current operations amid ongoing financial challenges. The Australian-based industrial air conditioning firm, which operates primarily through Multistack Australia Pty Ltd, has been grappling with continued losses. In a…
Technologies New Energy appoints Julio Perez as CEO
LONDON: Technologies New Energy plc (LSE: TNE), a developer of clean energy projects aimed at industrial decarbonization, has appointed Julio Perez as chief executive officer, effective June 27, 2025. Perez brings over 15 years of global investment experience, with a focus on clean and renewable energy. He succeeds José Meneses, who will remain with the…
Hercules acquires Advantage NRG to expand into UK power and energy sector
LONDON: Hercules plc (AIM: HERC), a UK-based provider of technology-driven labor solutions for the infrastructure and construction sectors, has acquired Advantage NRG Ltd in a deal valued at up to £15.7 million. The acquisition signals Hercules’ strategic entry into the power and energy sector amid a nationwide overhaul of electricity networks. The initial purchase price…
Attock Cement’s majority shareholder weighs exit amid strategic interest
KARACHI: Pharaon Investment Group Limited (PIGL), the majority shareholder of Attock Cement Pakistan Ltd. (ACPL), is exploring a potential exit from its stake in the company, drawing attention from multiple strategic investors amid a period of expansion and valuation re-rating across the cement sector. According to disclosures reaffirmed in May 2025, PIGL is evaluating various…