AUCKLAND: Genesis Energy and three other major electricity providers have signed a detailed non-binding term sheet to establish a strategic energy reserve centered on Huntly Power Station, aiming to bolster New Zealand’s security of supply. The agreement—between Genesis (NZX: GNE, ASX: GNE), Mercury, Meridian, and Contact—follows challenges during the winter of 2024, when energy supplies…
U.S. stocks edge higher as Fed holds rates steady; Middle East tensions simmer
Dow Jones, S&P 500, and Nasdaq Post Gains as Fed Holds Rates; Middle East Tensions Linger NEW YORK: Major U.S. stock indices posted modest gains Wednesday as investors digested the Federal Reserve’s decision to hold interest rates steady while monitoring escalating tensions in the Middle East. The Dow Jones Industrial Average rose 0.34%, or 132 points, to close at 42,338.95,…
Fed holds rates steady, signals fewer cuts ahead amid inflation concerns
The Federal Reserve (Fed) held interest rates steady Wednesday, maintaining its target range of 4.25%-4.5% amid concerns over inflation and slowing economic growth. Despite expectations for two rate cuts later in 2025, officials scaled back their projections for reductions in 2026 and 2027, citing uncertainty in their economic outlook. The central bank’s “dot plot” indicated…
Inventis sells electronic circuit design division to ANT Software for A$2.4 million
SYDNEY: Inventis Limited (ASX: IVT) has signed a binding agreement to sell its Electronic Circuit Designs (ECD) business and assets to ANT Software in a transaction valued at A$2.4 million, the company announced Wednesday. The sale is part of Inventis’ broader restructuring strategy aimed at improving financial flexibility and positioning the company for future growth….
Credit Intelligence sells stake in OneStep subsidiary for AUD 1
SYDNEY: Credit Intelligence Ltd. (ASX: CI1) announced Wednesday that it has sold its entire 60% equity stake in its partly owned subsidiary, OneStep Information Technology Limited, to independent third-party investor Dominic Li for AUD1. The disposal, completed on June 18, is expected to generate a gain of approximately AUD67,000, based on unaudited financial figures as…
Acer to delist Global Depositary Receipts from London Stock Exchange
TAIPEI: Acer Incorporated announced Tuesday it will delist its global depositary receipts (GDRs) from the London Stock Exchange (LSE) next month, citing low trading volume and cost efficiency. The decision follows a board meeting on March 13, where directors approved the move as part of a broader simplification effort across multiple jurisdictions. The company noted…
APA Group to acquire Atlas to Reedy Creek Pipeline in $110 million deal
SYDNEY: APA Group (ASX: APA) announced Wednesday that it has entered into a binding agreement to acquire the Atlas to Reedy Creek Pipeline (ARCP) from Senex CSG Assets Pty Ltd for $110 million. ARCP, a 56-kilometer gas transmission pipeline in Queensland’s Surat Basin, transports gas from Senex’s Atlas East Compression Facility to APA’s Reedy Creek…
Diskover secures $7.5 million seed funding; Partners with Snowflake and NetApp, acquires CloudSoda
LOS ANGELES: Diskover, a leader in helping enterprises manage unstructured data at exabyte scale, announced Tuesday a series of major milestones: closing a $7.5 million seed funding round, forming partnerships with Snowflake and NetApp — both of which are now investors — and acquiring data intelligence platform CloudSoda. The moves mark a significant expansion for Diskover,…
Morten Thorsrud named next CEO of Sampo Group, succeeding Torbjörn Magnusson
HELSINKI: Sampo Group CEO Torbjörn Magnusson will step down this fall after informing the company’s board of his decision to retire, the company announced Wednesday. Morten Thorsrud, CEO of Sampo’s largest subsidiary, If P&C, has been appointed as his successor. The leadership transition will take effect Oct. 1, 2025. Magnusson will remain with the company…
Lithium Universe acquires secures global rights to innovative solar panel recycling technology
SUBIACO: Lithium Universe Limited (ASX: LU7) has announced a binding agreement to acquire worldwide rights to a groundbreaking photovoltaic (PV) solar panel recycling technology developed by Macquarie University. The patented “Microwave Joule Heating Technology” (MJHT) promises to revolutionize the recycling of end-of-life solar panels by enabling efficient recovery of valuable materials like silver, silicon, gallium…
Codeifai to acquire Trust Codes in strategic deal to lead AI-powered QR code market
SYDNEY: Codeifai Limited (ASX: CDE), a pioneer in AI-driven QR code and brand protection solutions, announced Wednesday it has entered a binding agreement to acquire its competitor, Trust Codes Global Limited, in a deal poised to reshape the digital traceability industry. The acquisition, described as a “watershed moment” by Codeifai executives, combines two leaders in…
PZ Cussons sells stake in PZ Wilmar, Updates FY25 trading performance
LONDON: PZ Cussons plc announced Wednesday the sale of its 50% stake in Nigerian edible oils business PZ Wilmar to joint venture partner Wilmar International Limited for $70 million (£51 million). The sale, part of a broader portfolio transformation, is expected to net approximately $64 million (£47 million) after taxes and fees. Proceeds will be…