The Financial Conduct Authority (FCA) has today published the findings of its wholesale data market study, which examined competition in the markets for credit ratings data, benchmarks and market data vendor services. The regulator has ruled out a significant intervention because of potential unintended consequences, such as on the availability and quality of data, in…
South32 sells Illawarra Metallurgical Coal business in Australia for up to $1.65B
LONDON: South32 Limited, a diversified mining company, has announced that it has agreed to sell its Illawarra Metallurgical Coal business in Australia to a consortium of Golden Energy and Resources Pte Ltd (GEAR) and M Resources Pty Ltd (M Resources) for up to US$1.65 billion. The deal, which is expected to close in the first…
VAALCO Energy to buy Svenska Petroleum for $66.5 million
LONDON: VAALCO Energy, a Houston-based oil and gas company, has announced that it has signed a deal to acquire Svenska Petroleum Exploration AB, a Swedish E&P company with a stake in a deepwater field in West Africa. The deal, which has an effective date of October 1, 2023, is valued at $66.5 million, subject to…
How the World Finance Corp Scandal Shook the Banking Industry and International Relations
The World Finance Corp (WFC) was a financial corporation founded in 1971 by a former Cuban banker and CIA agent, Guillermo Hernandez-Cartaya. It claimed to be a legitimate and innovative institution that offered loans and investments to developing countries, especially in Latin America and the Caribbean. However, in the late 1970s, WFC was involved in…
Reliance and Disney merge India media assets in $8.5 billion deal
Reliance Industries and Walt Disney have announced the merger of their India TV and streaming media businesses, creating an $8.5 billion entertainment giant that will dominate the market in the world’s second-most populous country. The deal will see Reliance, led by billionaire Mukesh Ambani, inject $1.4 billion in the merged entity, and hold a 63%…
IEG acquires Maxbox Supplies to expand liquid waste solutions
Impact Environmental Group (IEG), a global provider of environmental products and services, has acquired Maxbox Supplies, a Texas-based manufacturer and distributor of spill prevention and containment products. The deal, which follows IEG’s acquisition of The Tarp Depot in 2023, strengthens IEG’s presence in the liquid waste sector and enables it to offer a wider range…
Summit acquires Deft to create a leading IT services platform
Summit, a leading provider of virtual servers and cloud-based application hosting, has announced the acquisition of Deft, a provider of data center and managed cloud services. The deal combines two innovative and fast-growing companies that offer colocation, cloud, and network services to a diverse range of customers. The acquisition will allow the combined business to…
Brazil Leads the Way in Adopting Global Standards for Sustainability and ESG
Brazil is a country that is not only rich in natural resources, but also in its commitment to sustainability and environmental, social and governance (ESG) practices. According to a recent report by Information Services Group (ISG), a leading global technology research and advisory firm, Brazil is demonstrating leadership and innovation in its sustainability and ESG…
Unveiling the Hidden Gems of Cryptocurrency Investment
In the massive and evolving global of cryptocurrency, Bitcoin has long been the torchbearer, taking pictures of the creativity and investment of tens of millions worldwide. However, the digital currency landscape is wealthy with different promising cryptocurrencies that provide unique blessings, ability for increase, and possibilities for diversification. This article explores those hidden gems of…
National Bank of Canada posts net income of $922 million, up 5%
LONDON: National Bank of Canada announced its net income for the first quarter of 2024 was $922 million, up 5% from the same period last year. The bank attributed this growth to higher revenues in all of its business segments and the impact of the 2022 tax measures on income taxes. Diluted earnings per share…
Ageas considers £3.1 billion bid for Direct Line Insurance Group
LONDON: Ageas, the Belgian insurer, has confirmed that it is in the preliminary stages of considering a possible offer to acquire Direct Line Insurance, the UK’s largest personal lines insurer, for £3.1 billion. The possible offer would consist of 100 pence in cash and one new Ageas share for every 25.24047 Direct Line shares, valuing…
Accenture Song acquires Mindcurv to boost its commerce services
Accenture Song, the world’s largest tech-powered creative group, has agreed to acquire Mindcurv, a cloud-native digital experience and data analytics company based in Germany. The acquisition will expand Accenture Song’s commerce services for clients globally, as well as its capabilities in composable software, digital engineering and artificial intelligence. Mindcurv, founded in 2011, is a leading…