MUNICH: German start-up Proxima Fusion announced Wednesday it raised 130 million euros ($148 million) in a record funding round, with investors betting the company can develop the world’s first commercial nuclear fusion power plant. The Series A financing, co-led by Cherry Ventures and Balderton Capital, marks the largest private fusion investment in Europe to date….
The Smarter Web Company begins trading on OTCQB Venture Market in U.S.
LONDON: The Smarter Web Company PLC (AQUIS:SWC / OTCQB:TSWCF), a London-listed technology firm, announced Wednesday that its shares have been approved for trading on the OTCQB Venture Market in the United States. Trading under the symbol “TSWCF” will begin at the market open. The company’s ordinary shares will continue to trade on the Aquis Stock…
Qantas Group to shut down Jetstar Asia, redeploy aircraft to core markets
SYDNEY: The Qantas Group announced Wednesday it will close its Singapore-based subsidiary, Jetstar Asia, as part of a strategic restructuring to focus on its core markets in Australia and New Zealand. The move will free up $500 million in capital to support the group’s fleet renewal program. Jetstar Asia, which has operated for over 20…
Johns Lyng Group receives takeover proposal from Pacific Equity Partners
SYDNEY: Johns Lyng Group (ASX: JLG), an integrated building services provider, confirmed it received a non-binding indicative proposal from Pacific Equity Partners (PEP) to acquire 100% of its shares via a scheme of arrangement. The proposal, disclosed after market close on May 16, includes an opportunity for senior management, including CEO and largest shareholder Scott…
FOS Capital to acquire Aldridge Traffic Systems in $3.1 million deal
MELBOURNE: FOS Capital Limited (FOS) announced today it will acquire the street lighting assets of Aldridge Traffic Systems Pty Ltd (ATS) from the financially troubled Traffic Technologies Ltd (ASX: TTI), which entered voluntary administration in April. The $3.1 million acquisition will be funded through a $3.7 million equity raising, with shares offered at a 3.2%…
Oakley Capital to acquire majority stake in Italian Join Business Management Consulting
LONDON: Oakley Capital Investments Ltd. said Wednesday its Origin II fund has agreed to acquire a majority stake in Join Business Management Consulting (JBMC), an Italian management and IT consultancy focused on the financial services sector. Join Business Management Consulting, based in Siena, provides digital transformation, IT project management and data-driven services to major Italian…
KKR, Stonepeak raise cash offer for UK’s Assura in takeover bid
LONDON: Private equity firms KKR and Stonepeak have increased their cash offer for Assura plc, a UK-based healthcare property company, in a bid to outcompete a rival takeover attempt by Primary Health Properties (PHP). The consortium, operating through newly formed Sana Bidco Limited, announced Wednesday its “best and final” cash offer of 50.42 pence per…
Oakley Capital acquires majority stake in global advisory firm G3
LONDON: Oakley Capital VI, a fund managed by pan-European private equity firm Oakley Capital, has acquired a majority stake in G3, a global strategic advisory consultancy. The transaction marks the fund’s first investment since reaching its €4.5 billion hard cap earlier this year. Oakley Capital Investments Limited said its indirect contribution via Fund VI is…
WPS Global offers to acquire Ricardo Plc for $358 million
LONDON: WSP Global Inc., a leading professional services firm, has agreed to acquire British engineering and environmental consultancy Ricardo PLC in a deal valued at approximately £281 million ($358 million). Under the terms of the acquisition, Ricardo shareholders will receive 430 pence per share in cash, representing a 28% premium over Ricardo’s closing price of 335 pence on June…
Global economic growth to slow to 2.3% in 2025 amid rising trade tensions, World Bank reports
WASHINGTON: The global economy is facing significant headwinds as growth is projected to slow to 2.3% in 2025, the weakest pace since 2008 outside of outright recessions, according to the World Bank’s latest Global Economic Prospects report released Wednesday. The slowdown is driven by escalating trade barriers, heightened policy uncertainty, and financial market volatility, with emerging market and…
Pakistan enacts Digital Presence Proceeds Tax Act to tax foreign tech firms
ISLAMABAD: Pakistan has introduced a new tax targeting multinational digital companies with significant user bases in the country but little to no physical presence, marking a major shift in how foreign tech firms are taxed. The Digital Presence Proceeds Tax Act, 2025, which took immediate effect, aims to address tax base erosion caused by the current…
Brown & Brown to acquire Accession Risk Management in $9.83 billion deal
NEW YORK: Brown & Brown (BRO.N) announced Tuesday it will acquire rival Risk Strategies and its parent company, Accession Risk Management, in a $9.83 billion deal, expanding its capabilities in property and casualty insurance as well as employee benefits. The acquisition is part of a wave of consolidation in the highly fragmented insurance brokerage industry, where major…