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…
Qatar Airways triples flights to São Paulo, becoming dominant carrier to South America
Qatar Airways has announced an increase in its flights from Doha to São Paulo, Brazil, from double daily to 18 weekly flights starting from December 1st, 2023. The increase will see the airline operating triple daily flights to the South American city four days a week, using its 777-300ER aircraft. Qatar Airways first launched its…
Intel discontinues production of crypto mining chip series ‘Blockscale’
Intel has reportedly decided to discontinue its crypto mining chip series, called Blockscale, just a year after it was launched. The company plans to stop accepting orders for the series by 20 October 2023 and cease shipment by 20 April next year. According to Reuters, the volatility in the cryptocurrency market has hurt chipmakers, including…
Netflix to crack down on U.S. password sharing by end of June 2023
In a letter to shareholders on April 19th, Netflix announced that it will be cracking down on US password sharing by the end of June 2023. The company’s second quarter of the financial year will see a broad rollout of paid sharing, which means that people who are not living in the same household but…