LONDON: Ilika plc (AIM: IKA) reported progress across its two solid-state battery product lines—Stereax® for medical and sensor applications and Goliath™ for electric vehicles (EVs)—for the year ended April 30, 2025. During the period, the company transferred Stereax manufacturing operations to U.S. partner Cirtec Medical LLC and validated its Goliath P1 battery prototypes. Ilika secured…
Catenai completes second tranche investment in tech startup Alludium
LONDON: Catenai PLC (AIM: CTAI), a digital media and technology provider, said Thursday it has completed the second £450,000 tranche of its investment in Alludium Ltd, a UK-based pre-revenue technology company. The funding follows shareholder approval of share allotment authorities from the June 26 announcement. Catenai subscribed for 681,663 ordinary shares in Alludium at 73…
SEED Innovations exits Oxford BioDynamics investment with £20,000 profit
LONDON: SEED Innovations Ltd on Thursday announced a profitable exit from its short-term investment in AIM-quoted Oxford BioDynamics plc, generating gross proceeds of approximately £145,000. The life sciences-focused investment company acquired 25 million shares in Oxford BioDynamics in February for £125,000 at 0.5p per share. SEED has now sold its entire holding at an average…
Forsee Power reports H1 revenue dip amid EV market Caution; Sees strong Q2 growth
PARIS: French battery systems manufacturer Forsee Power reported first-half 2025 revenue of €80.8 million ($87.8 million), a 4% decrease compared to the same period last year, the company announced Thursday. The company, specializing in batteries for commercial and industrial electric vehicles (EVs), cited a “softer market momentum” driven by industrial customer caution for the H1…
U.S. stocks recover after Trump denies plans to oust Fed Chair Powell
U.S. stocks rebounded Wednesday after President Donald Trump said he has no intention of firing Federal Reserve Chair Jerome Powell, easing investor concerns about potential leadership upheaval at the central bank. The major indexes fell as much as 0.8% late morning following a report in The Wall Street Journal that Trump suggested to GOP lawmakers…
Diageo CEO Debra Crew steps down; CFO Nik Jhangiani named interim chief
LONDON: Debra Crew has stepped down as chief executive officer of Diageo PLC after nearly two years in the role, the spirits giant said Wednesday, with Chief Financial Officer Nik Jhangiani appointed as interim CEO. The departure comes as the maker of Johnnie Walker whisky and Guinness beer pushes ahead with a cost-cutting and turnaround…
Malaga Financial reports lower earnings on ERC impact, maintains strong credit metrics
Malaga Financial Corp (OTCIQ: MLGF), the parent of Malaga Bank FSB, on Wednesday posted a 7% drop in first-half earnings, citing the prior year’s Employment Retention Credit (ERC) and lower net interest income. Net income fell to $10.95 million, or $1.16 per share, for the six months ended June 30, from $11.79 million, or $1.25…
Audioboom to acquire UK podcast network Adelicious in £10 million deal
LONDON: Audioboom Group PLC (AIM: BOOM), a global podcast leader, announced Wednesday it will acquire British podcast network Adelicious Ltd for up to £10.0 million ($12.9 million), aiming to create the UK’s second-largest podcast network. The all-share transaction includes £4.5 million in initial consideration (60% cash, 40% shares), up to £3.0 million in deferred payments…
Coats Group to acquire premium insole leader OrthoLite for $770 million
LONDON: Coats Group plc said Wednesday it will acquire OrthoLite Holdings LLC, the global leader in premium insoles, for $770 million, as part of its strategy to expand in the high-growth footwear component sector. The deal, expected to close in the fourth quarter of 2025, will be funded through a mix of new debt facilities…
ASML posts strong Q2 results; Sees full-year sales rising 15%
VELDHOVEN: ASML Holding NV (ASML) reported second-quarter net sales of €7.7 billion and a net income of €2.3 billion, meeting the upper range of its guidance, the chip equipment maker said Wednesday. Gross margin for the quarter was 53.7%, slightly down from 54.0% in Q1 but above the company’s forecast. Net bookings rose to €5.5…
Stellantis halts hydrogen fuel cell program amid market challenges
PARIS: Stellantis said Wednesday it will discontinue its hydrogen fuel cell technology development program, citing infrastructure limitations, high capital costs and weak consumer incentives. The automaker no longer anticipates widespread adoption of hydrogen-powered light commercial vehicles before the decade’s end. The decision halts the planned launch of the Pro One hydrogen-powered van series, with production…
Honye Financial Services to acquire Zoyo Capital Limited for £26 million
LONDON: Honye Financial Services Ltd (LSE: HOYE) announced Wednesday it has agreed to acquire London-based FinTech firm Zoyo Capital Limited in a share-based deal valued at £26 million. Under conditional agreements, Honye will acquire the entire issued share capital of Zoyo. The consideration will be satisfied entirely through the issuance of 113,043,478 new Honye ordinary…