Toyota has begun taking orders for its first electric sedan in China, marking a major step for the Japanese automaker in the world’s largest electric vehicle market. This comes as Toyota has announced two more models are set to come to the local market next year, as part of the company’s bZ, or “beyond zero”…
Tesla’s earnings disappoint as margins stressed by new factory underutilization, higher costs
Tesla, the electric vehicle maker, saw its shares fall more than 4% after it released its first-quarter earnings report. The company reported adjusted earnings per share of 85 cents. Revenue came in at $23.33 billion, beating expectations of $23.21 billion. Tesla’s net income was $2.51 billion, down 24% from the previous year, with GAAP earnings…
Franklin Templeton International offload stakes in Romanian companies to the Greeks
LONDON, UK: Franklin Templeton International Services S.À R.L., as the alternative investment fund manager and sole director of Fondul Proprietatea S.A., has announced that the Fund has sold all its equity stakes in five Romanian companies, including E-Distributie Muntenia S.A. and Enel Energie Muntenia S.A., to the Greek company Public Power Corporation S.A. (PPC) for…
Filtronic wins contract with global 5G infrastructure provider
LONDON, UK: Filtronic Plc, a UK-based company that designs and manufactures products for various markets including aerospace, defense, and telecoms infrastructure, has announced a new contract win with a leading global provider of 5G telecoms infrastructure equipment. The initial production contract is worth $1.1 million and will facilitate the global launch of a product that…
Arc Minerals signs joint venture agreement with Anglo American for copper interests in Zambia
LONDON, UK: Arc Minerals, a mineral exploration and development company, has announced that its subsidiary, Unico Minerals Limited, has signed a binding joint venture agreement with a subsidiary of Anglo American plc. The agreement pertains to Arc Mineral’s copper interests in North Western Zambia, and under the terms of the agreement, Anglo American will have…
Unikmind announces increased & final offer to acquire Kape Technologies at $3.60/share
LONDON, UK: Unikmind Holdings Limited has announced the terms of its Increased and Final Offer for the acquisition of the entire issued and to be issued share capital of Kape Technologies not already held by Unikmind. Under the terms of the offer, Kape shareholders will be entitled to receive US$3.60 in cash for each Kape…
Ondo InsurTech partners with WNS to offer loss reduction guarantee for home insurers
LONDON, UK: London-based insurtech company Ondo has announced a new partnership with global business process management (BPM) company WNS to offer innovative claims prevention technology to home insurers. WNS is known for running claims operations for major insurers across Europe and the US, with a market capitalization of over $4 billion. The new partnership will…
Volution Group acquires Ventilairsec SA in France, and I-Vent in Slovenia and Croatia
LONDON, UK: Volution Group, a leading international designer and manufacturer of energy efficient indoor air quality solutions, has signed an agreement to acquire I-Vent d.o.o (I-Vent) in Slovenia and Croatia, and has completed the acquisition of Ventilairsec SA in France. Both acquisitions will be earnings enhancing and will report as part of Volution Group’s…
Mattioli Woods has acquired Doherty Pension & Investment for £15.048 million
LONDON, UK: Mattioli Woods plc (AIM: MTW.L) announced the acquisition of 100% of the share capital of Doherty Pension & Investment Consultancy Limited from its shareholders for a total consideration of up to £15.048 million on a cash-free, debt-free basis. Doherty Pension & Investment, a financial planning and wealth management firm based in Northern Ireland,…
Star Entertainment Group to cut 500 jobs and freeze salaries amid low earnings
SYDNEY, AUSTRALIA: The Star Entertainment Group, one of Australia’s largest casino operators, has announced it will be cutting 500 jobs and freezing salaries and incentives as part of a plan to extract AUD 100 million ($77 million) from its costs. The decision comes as the group’s earnings have taken a significant hit in recent months…
Workers at Heathrow Airport to take eight more days of strike action in May
Security officers at Heathrow Airport are set to take eight more days of strike action in May over a pay dispute, according to Unite, the union representing them. Members of the union will walk out on May 4, 5, 6, 9, 10, 25, 26, and 27. The strikes, which follow a 10-day action over Easter,…
Dr Kerry Schott appointed acting chair of Australian Rail Track Corporation
Dr Kerry Schott to take over as acting board chair of the Australian Rail Track Corporation for the financially troubled Inland Rail project. Infrastructure Minister Catherine King and Finance Minister Katy Gallagher made the announcement of Schott’s appointment, replacing current chair Peter Duncan, who will be taking a three-month leave of absence to serve as…