LONDON: Tritax EuroBox plc has exchanged contracts for the disposal of its warehouse asset in Gothenburg, Sweden for a price of SEK 385 million to a leading pan-European real estate investment manager. The sale price is broadly in line with the valuation as at 30 September 2023 and supports the Company’s planned disposal programme primarily…
Caspian Sunrise nears $83 million asset sale to Absolute Resources
LONDON: Caspian Sunrise PLC is set to selling its MJF and South Yelemes structures within the BNG Contract Area to Absolute Resources LLP for $83 million. The exclusivity agreement, valid until 8 August 2024, could lead to a conditional sale and purchase agreement subject to regulatory and shareholder approval. The proposed sale would not include…
Ofgem proposes end of the ban on acquisition-only tariffs
LONDON: Energy regulator Ofgem has today (Tuesday 14 May, 2024) published a statutory consultation proposing the removal of the ban on acquisition-only tariffs (BAT) on 1 October, 2024. The BAT was introduced in April 2022 to protect consumers during the energy crisis, and was always designed to be a time-limited measure. As the market continues…
Oakley Capital has agreed to acquire vitroconnect in Germany
LONDON: Oakley Capital Investments Limited (OCI) announced that Oakley Capital Origin II2 (Origin II) has agreed to acquire vitroconnect, a leading broadband open access platform business in Germany. This will be the first platform investment made by Origin II. OCI’s indirect contribution to Origin II is anticipated to be up to £19 million, which relates…
Serica Energy plc appoints Chris Cox as Chief Executive Officer
LONDON: Serica Energy plc (AIM: SQZ), a British independent upstream oil and gas company, announced the appointment of Chris Cox as Chief Executive Officer (“CEO”). This will take effect on 1 July 2024, with David Latin (Chairman of Serica) ceasing his temporary role as Interim CEO at the same time. Chris Cox has over forty…
Vortex has acquired Planned and Engineered Construction Inc. (PEC)
HOUSTON: Vortex Companies (Vortex) announced the acquisition of Planned and Engineered Construction Inc. (PEC), a Helena, Montana-based leader in trenchless infrastructure rehabilitation. This strategic acquisition marks a significant step in strengthening Vortex’s service presence across the Western United States and Canada, enabling enhanced service capabilities to a broader market. PEC’s services align with Vortex’s focus…
Airlines for America challenge new DOT fee disclosure rule in Court
A coalition of major airlines and the trade group Airlines for America have filed a petition with the U.S. Fifth Circuit Court of Appeals, seeking to invalidate a recent Department of Transportation (DOT) regulation. The contentious rule, introduced by the DOT in late April, mandates that airlines and online travel agencies provide upfront disclosure 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…
Goldman Sachs backs Pennybacker Capital with strategic investment
AUSTIN, Texas: Pennybacker Capital Management, LLC, a prominent real assets investment firm based in Austin, has announced a strategic partnership with Goldman Sachs Asset Management’s Petershill program. The terms of the investment, which is described as passive and minority, have not been disclosed. This new influx of capital is set to propel Pennybacker’s growth, enhancing…
NASA names David Salvagnini as first Chief Artificial Intelligence Officer
WASHINGTON: NASA Administrator Bill Nelson on Monday named David Salvagnini as the agency’s new chief artificial intelligence (AI) officer, effective immediately. The role is an expansion of Salvagnini’s current role as chief data officer. A wide variety of AI tools are used by NASA to benefit humanity from supporting missions and research projects across the…
GAI Consultants Inc. has acquired Creighton Manning Engineering
WEST PALM BEACH, FL: An affiliate of GAI Consultants, Inc., a leading engineering, planning, and environmental consulting firm has announced the acquisition of Creighton Manning Engineering. The acquisition integrates Creighton Manning into GAI as a new division named “Creighton Manning, a GAI Company,” enhancing GAI’s service offerings and geographic footprint. Creighton Manning, established in 1965…
Abu Dhabi partners with MBZUAI and Core42 to launch AI Healthcare Academy
ABU DHABI, UAE: Department of Health – Abu Dhabi (DoH) has partnered with Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) and AI solutions provider Core42 to establish the AI Healthcare Academy. The initiative, announced during the Abu Dhabi Global Healthcare Week, aims to create a skilled workforce adept in AI to enhance global healthcare…