LONDON, UK: The boards of Sovereign Housing Association Limited and Network Homes Limited have agreed to enter into formal negotiations with a view to joining together in a merger. The decision was agreed by their respective boards on Thursday 9 March. The target date for the completion of the merger is 1 October 2023. The…
Sanofi agrees to acquire Provention Bio Inc. for $2.9 billion
PARIS, FRANCE: Sanofi has entered into an agreement to acquire Provention Bio Inc., for $25/share in cash, representing an equity value of approximately $2.9 billion. The transaction adds an innovative, fully owned, first-in-class therapy in type 1 diabetes to Sanofi’s core asset portfolio in General Medicines and further drives its strategic shift toward products with…
Ocean Partners UK Limited to acquire Erris Zinc Ltd
LONDON, UK: Zinnwald Lithium plc, the German focused lithium development company, announced the signing of a Heads of Terms Agreement with Ocean Partners UK Ltd, a trader of base metal ores and concentrates and parent company to Shanoon Resources Ltd, owner of the Galmoy Prospecting Licence in Ireland, for it to acquire Erris Zinc Ltd,…
Ricardo plc has acquired 90% of Aither Pty Ltd for £17 million
LONDON, UK: Ricardo plc, a global strategic, environmental, and engineering consulting company, has announced the acquisition of Aither Pty Ltd., a leading water-and-natural-resources advisory consultancy. Headquartered in Melbourne, Australia, Aither’s purpose is to help governments and businesses make better decisions about globally significant issues relating to water and natural resources. Aither’s 51 employees are based…
HSBC UK Bank is acquiring Silicon Valley Bank UK Limited for £1
LONDON, UK: HSBC Holdings plc announced that its UK ring-fenced subsidiary, HSBC UK Bank plc, is acquiring Silicon Valley Bank UK Limited (SVB UK) for £1. As at 10 March 2023, SVB UK had loans of around £5.5bn and deposits of around £6.7bn. For the financial year ending 31 December 2022, SVB UK recorded a…
QMines Limited to divest its non-core gold and base metal exploration projects
SYDNEY, AUSTRALIA: QMines Limited has executed an exclusive option agreement with Queensland Critical Minerals Limited (QCML) for the divestment of its non-core gold and base metal exploration projects, Silverwood, Warroo and Herries Range. The projects are all located in South East Queensland. As part of the company’s growth strategy, resources have been directed towards the…
Aramco posts record 46.5% growth in profits to $161.1 billion in 2022
Saudi Arabia’s oil giant Aramco reported a record net income of $161.1 billion for 2022 (46.5% higher than previous year’s $110 billion), the largest annual profit ever achieved by an oil and gas company, CNBC reported. Aramco said net income increased 46.5 percent over the year, from $110 billion in 2021. Free cash flow also…
Auction for Silicon Valley Bank on for a total or partial acquisition by another bank
Federal regulators are conducting an auction for Silicon Valley Bank, with final bids due Sunday, according to a report from Bloomberg News. The bank was closed by regulators on Friday after massive withdrawals a day earlier created a bank run. The Federal Deposit Insurance Corporation (FDIC) took control of the bank on Friday, and started an auction process…
Mohammed bin Salman announces new national airline, Riyadh Air
Saudi Arabia’s Crown Prince Mohammed bin Salman formally announced on Sunday the creation of a new national airline, Riyadh Air. Industry veteran Tony Douglas will be the chief executive. Riyadh Air will will serve more than 100 destinations around the world by 2030, making use of the kingdom’s location between Asia, Africa and Europe, state…
How To Keep Your Employees Safe During Work Hours
Ensuring the safety and well-being of your employees is a critical part of running a successful business. Workplace safety not only protects your staff from harm, but it also reduces the risk of legal issues, increases morale, and helps ensure that productivity remains high. As an employer, it’s important to take proactive steps to keep…
What is the procedure to immigrate to the United Kingdom?
Immigrating to the United Kingdom can offer a range of opportunities, such as access to high-quality education and healthcare systems, a stable economy, a diverse culture, and a vibrant social life. However, it is essential to consider various factors, such as the cost of living, visa requirements, and job opportunities, before making a decision. You…
Germany’s Verdi trade announces strikes on March 13 at the country’s northern airports
Germany’s Verdi trade union has called for strikes on March 13 at the country’s northern airports, including Berlin, which it said would likely cause longer queues for passengers and flight cancellations, Reuters reported. The strikes will affect Berlin’s international airport, as well as the smaller airports of Hamburg, Hanover and Bremen, the relevant regional branches…