DALLAS: Pennington Creek Capital, LLC, a Dallas-based private equity firm wholly owned by the Chickasaw Nation, announced Tuesday a majority equity investment in Rite in the Rain, a Tacoma, Washington-based manufacturer of water-resistant writing and field gear. “This investment in Rite in the Rain represents an important step in our business diversification,” said Chickasaw Nation…
Datasite acquires Blueflame AI
MINNEAPOLIS: Datasite, a global SaaS provider of AI-powered workflow collaboration and automation solutions for mergers and acquisitions (M&A), investment, and strategic projects, has acquired Blueflame AI, a leading developer of agentic AI solutions for financial services. Terms of the transaction were not disclosed. The acquisition marks a strategic move by Datasite to deepen its capabilities…
Spark sells 75% stake in data center business to Pacific Equity Partners for up to $705 million
SYDNEY: Spark New Zealand has agreed to sell a 75% stake in its data center business to Pacific Equity Partners (PEP). The deal values the business at up to $705 million. This sale is intended to provide a funding pathway for Spark’s planned data center development pipeline of over 130MW+. Spark will retain a 25%…
Westpac Banking Corp appoints Carolyn McCann as chief executive consumer division
SYDNEY: Westpac Banking Corporation on Tuesday announced the appointment of Carolyn McCann as Chief Executive of its Consumer division, effective immediately. McCann, who has served as Acting Chief Executive since May 12, brings nearly 30 years of corporate experience, including two decades in banking and insurance and more than a decade at Westpac. “Carolyn is…
Stocks slide as inflation fears take center stage
Dow Jones drops 200 points as traders await key inflation data NEW YORK: U.S. stocks fell Monday as traders awaited key inflation data later this week, overshadowing a positive development on the trade front. The Dow Jones Industrial Average slipped 200.52 points, or 0.45%, to close at 43,975.09. The S&P 500 lost 0.25%, settling at…
Ford to invest $2 billion in Kentucky plant for affordable EVs
LOUISVILLE: Ford Motor Co. said Monday it will invest $2 billion in its Louisville Assembly Plant to accelerate production of affordable electric vehicles, marking a major step in the automaker’s push to expand its EV lineup. The Detroit-based company plans to build a midsize, four-door electric pickup at the Kentucky facility, with production expected to…
Marshalls plc reports modest revenue growth amid challenging market conditions
Company posts 4% revenue growth in H1 2025, profitability pressured by market headwinds LONDON: Marshalls plc, a leading manufacturer of sustainable solutions for the built environment, reported a 4% increase in group revenue to £319.5 million for the half year ended June 30, 2025, up from £306.7 million in the same period last year. The…
LMS Capital to invest additional $5.3 million in Romanian oil producer Dacian
LONDON: LMS Capital has approved a further investment of $5.3 million (£3.9 million) in Dacian Petroleum, a Romanian onshore oil and gas company, following a shareholder vote in May supporting a managed realisation strategy. The decision comes after months of underperformance at Dacian, driven by missed production targets and a softening oil price environment. LMS,…
Gemfields to sell Fabergé to SMG Capital for $50 million
LONDON: Gemfields Group Ltd. said Monday it has signed an agreement to sell its entire interest in Fabergé Limited, the iconic luxury brand, to SMG Capital LLC for $50 million. Under the terms of the deal, $45 million will be paid to Gemfields upon completion, expected on Aug. 28, 2025. The remaining $5 million will…
CAR Group: excellent FY25 results, double-digit growth in key metrics
Company’s reported revenue grew by 8% to $1.18 billion SYDNEY: CAR Group Ltd. announced its full-year results for FY25 on Monday, reporting excellent revenue and earnings growth across all key markets. The results, which align with the company’s estimates from July 17, highlight the resilience of its global business model and the potential for new…
JB Hi-Fi posts $10.6 billion in FY25 sales, announces CEO transition
MELBOURNE: JB Hi-Fi Ltd. reported a 10% rise in full-year sales to $10.55 billion, driven by strong consumer demand and strategic product launches across its Australian and New Zealand operations. Net profit after tax rose 5.4% to $462.4 million, while underlying earnings excluding one-off expenses climbed 8.5% to $476.1 million. The electronics and appliance retailer…
Iress Ltd posts strong core earnings growth amid strategic transformation
The company posted a statutory net profit after tax of A$17.3 million for the six months MELBOURNE: Financial technology firm Iress Ltd. (ASX:IRE) reported a 19% rise in underlying earnings per share from its continuing business in the first half of 2025, driven by solid performance in its trading and wealth segments. The company posted…