Kilkenny, Ireland: Renowned businessman Terry Clune has announced the sale of Immedis, a leading payroll software developer, to UKG, a prominent US multinational. The transaction, confirmed by both companies on Tuesday, is set to be finalized within the next two months. Immedis, a subsidiary of Clune’s Clunetech group based in Kilkenny, specializes in providing software…
U.S. Securities and Exchange Commission (SEC) on a rampage against crypto trading platforms
Washington, D.C.: The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Coinbase, the largest cryptocurrency exchange in the United States, accusing the company of operating unlawfully by failing to register with the regulatory agency. This legal action marks the SEC’s second lawsuit in as many days targeting a major cryptocurrency exchange, following…
GFH Ratings Affirmed by Fitch at ‘B’; Outlook Stable
Manama: GFH Financial Group (“GFH” or “the Group”) today announced that Fitch Ratings has affirmed its Long- and Short-Term Issuer Default Ratings (IDR) at ‘B’. The Outlook on the Long-Term IDR is Stable. Fitch has also affirmed the senior unsecured long-term rating of the US$500 million sukuk due 2025 issued through GFH Sukuk Company Limited…
Ford Motor Co Announces Expansion of Recall for SUVs and Trucks Due to Fire Risk
Dearborn, Michigan: Ford Motor Co has announced an expansion of its recall, affecting approximately 125,000 sport utility vehicles and trucks, due to potential engine failures that could lead to a fire hazard. The recall encompasses certain models of the Escape and Lincoln Corsair SUVs, as well as the Maverick compact pickup trucks from the 2020-2023…
Microsoft Settles with FTC for $20 Million Over Illegal Collection of Children’s Personal Information
Redmond, Washington: Microsoft has agreed to pay a settlement amount of $20 million (£16 million) to the US Federal Trade Commission (FTC) to resolve charges of illegally collecting personal information from children without parental consent. The tech giant was accused of violating the US Children’s Online Privacy Protection Act (COPPA) by collecting and retaining personal…
ADNOC Drilling expands offshore jack-up rig fleet with acquisition of two premium units
ABU DHABI, UAE: ADNOC Drilling Company has announced the signing of an agreement to acquire two high-specification Gusto MSC CJ46 design offshore jack-up drilling units. The acquisition, totaling $220 million, is in line with the company’s fleet expansion and growth strategy and will significantly contribute to ADNOC’s accelerated production capacity growth. The two premium rigs…
Emirates Considers Additional Airbus A350 and Boeing 777X/787 Orders to Meet Future Demand
Emirates President Tim Clark announced on Tuesday that the Dubai-based airline is considering ordering additional aircraft from Airbus and Boeing as it looks ahead to future demand in the aviation industry. During a global airlines meeting, Clark revealed that Emirates is exploring the possibility of acquiring more Airbus A350s, Boeing 777Xs, or 787 jets to…
Tips for Choosing the Right Summer Camping Outfits
Summer camping provides an opportunity to connect with nature, enjoy outdoor activities, and experience a break from the routines of everyday life. During summer camping trips, individuals or groups engage in various recreational activities, including hiking, fishing, swimming, boating, wildlife observation, campfire cooking, stargazing, and more. It offers a chance to unplug from technology, relax…
Intel Corp to Sell $1.5 Billion Stake in Mobileye Global Inc
Intel Corp, the multinational technology company, has filed a regulatory document indicating its plan to offer 35 million shares of Class A common stock in Mobileye Global Inc. The stake sale is expected to amount to approximately $1.5 billion, according to the filing submitted on Monday. Following the completion of the offering, Intel’s voting share…
Investment in European Tech Startups to Decline by 39% in 2023, says Atomico
According to data released by venture capital firm Atomico, investment into European tech startups is expected to decrease by another 39% this year, indicating ongoing challenges in the global tech sector. Atomico projects that funding for Europe’s venture-backed startups will decline from $83 billion in 2022 to $51 billion in 2023. This decline can largely…
Mercury NZ launches $100 million Green Bond offering for institutional and retail investors
SYDNEY, AUSTRALIA: Mercury NZ Limited (Mercury), a leading energy company in New Zealand, announced today its offering of up to $100 million of 5-year unsecured, unsubordinated fixed-rate green bonds (Green Bonds). The offering, which opens today, will be available to institutional investors and New Zealand retail investors. Mercury also has the option to accept up…
Reserve Bank of Australia Surprises Market with Interest Rate Hike Amidst Inflation Concerns
In an unexpected move, the Reserve Bank of Australia (RBA) announced a 25 basis points increase in its benchmark interest rate to 4.1% on Tuesday, defying market expectations. Economists, polled by Reuters, had anticipated the central bank to maintain rates at their current level. The news led to a further decline in Australian stocks, with…