LONDON, UK: Yooma Europe Limited has completed the sale of Birmingham-based Vitality CBD Limited, a UK-focused CBD company, for a total consideration of US$2.0 million to Psilobrain Therapeutics Inc. Psilobrain is a private Canadian biotech company that uses the latest in psychedelic medicine to design products that facilitate evidence-based healing & wellness. Further details regarding…
IPH Limited completes acquisition of Ridout & Maybee
SYDNEY, AUSTRALIA: IPH Limited (IPH) has completed the acquisition of Canadian IP services firm, Ridout & Maybee, as announced on 17 August 2023. The approximately CAD 65m (AUD 74.7m) purchase price for the acquisition was funded by: As part of the transaction, IPH has refinanced and extended debt facilities with financiers in Australia and Canada…
Catalyst Metals appoints David Jones as Non-Executive Chairman
SYDNEY, AUSTRALIA: Catalyst Metals Limited has appointed David Jones AM as Non-Executive Chairman. Mr Jones’ appointment comes after long serving Non-Executive Chairman, Steve Boston, stepped down in August this year. David has a background in working with high growth companies, mainly with unlisted businesses through his involvement in the private equity industry. David has been…
Monadelphous Group to acquire Melchor Contracting for an initial $10mn
SYDNEY, AUSTRALIA: Engineering company Monadelphous Group Limited (ASX:MND) has entered into an agreement to acquire Melchor Contracting, a Perth-based structural concrete and associated works business. Melchor Contracting offers a full structural concrete package capability, including detailed earthworks, formwork, reinforcement fixing and concrete placement in the resources, energy and infrastructure sectors. It currently employs around 300…
FDA signals intent to regulate lab developed tests
DUNEDIN, NZ: Cancer diagnostics company Pacific Edge (NZX, ASX: PEB) notes the U.S. Food and Drug Administration (FDA) has released for public comment proposed rule changes that seek to have Laboratory Developed Tests (LDTs) such as Cxbladder regulated as medical devices under the US Federal Food, Drug, and Cosmetic Act. The proposed changes, if finalized,…
Saudi Arabia to introduce Alipay+ for Asian tourists
Saudi Arabia is set to offer a new mobile payment and marketing solution for Asian tourists, as part of its efforts to boost its tourism sector and foster closer ties with China. The Saudi Tourism Authority and Ant Group, the parent company of Alipay, have signed a Memorandum of Understanding (MoU) to introduce Alipay+ to…
Uber celebrates 100,000 drivers and £5 billion economic value in the UK
Uber, the ride-hailing giant, has reached a milestone in the UK, with over 100,000 drivers on its platform and an estimated £5 billion in economic value generated by its activity. The company revealed the figures in a report by Public First, which analysed the impact of Uber on the UK’s transport system and economy. The…
Tesla launches updated Model Y in China with new wheel design
Tesla, the U.S. carmaker, announced on Sunday that it has launched a new version of its Model Y in China, with some minor modifications to the car’s exterior and interior. The car has a new wheel design, as shown by Tesla’s official WeChat account. The Model Y, which is Tesla’s most popular car worldwide, still…
Apple to fix iPhone 15 overheating issue with software update
Apple has acknowledged that some users of its latest iPhone 15 models are experiencing overheating problems and said that it will release a software update to address the issue. The iPhone 15 models, which were launched on September 22, 2023, have received complaints from users on Apple’s forums, Reddit, and social media about getting too…
Samsung Galaxy S24: A Flat and Metallic Flagship?
Samsung is expected to launch its next flagship phone, the Galaxy S24, in early 2024. But what will it look like and what features will it have? Thanks to some leaked renders from a reliable source, we may have a good idea of what to expect from the upcoming device. The renders, which were shared…
BP’s U.S. chief quits amid turmoil at the top
BP (BP.L) announced on Friday that Dave Lawler, its top executive in the United States and head of its shale business, is leaving the company to pursue new career opportunities. Lawler’s departure comes less than three weeks after BP’s chief executive, Bernard Looney, resigned over a scandal involving his personal relationships with colleagues. The United…
Wells Fargo sheds $2 billion of private equity bets to focus on core businesses
Wells Fargo announced on Friday that it had divested about $2 billion worth of its investments in private equity funds managed by Norwest Equity Partners and Norwest Mezzanine Partners. The bank said that the move was part of its strategic efforts to concentrate on its main businesses and customers. The private equity investments were bought…