LONDON: Investment firm True is in advanced discussions to acquire a major stake in German Doner Kebab (GDK), according to Sky News. GDK, led by Chief Executive Simon Wallis, is currently part of Hero Brands, a Glasgow-based incubator specializing in food and beverage concepts. While details of the potential deal remain undisclosed, several other bidders were reportedly engaged…
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Chocolate prices surge 43% as extreme weather strikes cocoa-producing nations
LONDON: Chocolate lovers are paying significantly more for their favorite treat as global cocoa production struggles under extreme weather conditions, according to the latest inflation data. The price of chocolate has jumped 43% since 2022, according to an analysis of new figures from the Office for National Statistics (ONS) by the Energy and Climate Intelligence Unit (ECIU),…
Lyft is acquiring mobility platform FreeNow for $198.40 million
Lyft announced Wednesday that it is acquiring mobility platform FreeNow from German automotive companies BMW and Mercedes-Benz for €175 million ($198.40 million), marking the U.S. ride-hailing company’s expansion into the European market. The acquisition will increase Lyft’s potential market, granting access to major cities such as London, Frankfurt, Paris, and Milan. FreeNow operates in over…
KKR to acquire OSTTRA from S&P Global, CME Group for $3.1 billion
S&P Global and CME Group have agreed to sell OSTTRA, their jointly owned post-trade infrastructure firm, to investment funds managed by KKR in a deal valuing the company at $3.1 billion in total enterprise value. The transaction, expected to close in the second half of 2025 pending regulatory approvals, will see proceeds split evenly between S&P…
Ingersoll Rand acquires G&D Chillers and Advanced Gas Technologies for $27 million
DAVIDSON: Ingersoll Rand Inc. (NYSE: IR), a global provider of mission-critical flow creation and industrial solutions, has acquired G&D Chillers, Inc. and Advanced Gas Technologies Inc. (AGT) for a combined $27 million to expand its air treatment portfolio. G&D, a U.S.-based manufacturer of premium glycol chillers used in breweries, wineries and food processing, strengthens Ingersoll Rand’s engineering…
UK labor market shows signs of weakness ahead of employer tax hike
LONDON: Britain’s labor market showed signs of weakening ahead of this month’s increase in a tax on employers, data released Tuesday showed. However, strong wage growth persisted, complicating the Bank of England’s efforts to curb inflation. Financial markets indicate a 90% chance of a quarter-point interest rate cut when policymakers meet in early May, followed by…
Intel to sell majority stake in Altera to Silver Lake for $8.75 billion
Key Details: – Deal Structure: Intel will sell 51% of its Altera business to private equity firm Silver Lake, valuing Altera at $8.75 billion. – Ownership Post-Deal: Intel retains 49% ownership. – Leadership Change: Raghib Hussain (current Altera executive) will succeed Sandra Rivera as CEO on May 5, 2025. – Expected Close: Second half of…
Sony announces PlayStation 5 price increases
Sony has announced price hikes for some PlayStation 5 (PS5) gaming consoles in multiple markets, including the United Kingdom, Europe, Australia, and New Zealand. The price increases, effective Monday, come as the company grapples with what it describes as a “challenging economic environment,” citing high inflation and fluctuating exchange rates. In a blog post confirming the…
Kraken launches commission-free stock and ETF trading for U.S. clients
SEATTLE: Cryptocurrency exchange Kraken on Monday announced the initial rollout of commission-free trading for over 11,000 U.S.-listed stocks and exchange-traded funds (ETFs), expanding beyond digital assets for the first time. The launch is currently available to clients in New Jersey, Connecticut, Wyoming, Oklahoma, Idaho, Iowa, Rhode Island, Kentucky, Alabama and the District of Columbia, with…
British Steel secures industry support for Scunthorpe plant after government takeover
SCUNTHORPE: More than a dozen companies have offered to help British Steel secure raw materials for its Scunthorpe plant after the British government took control of the business under emergency legislation passed Saturday, officials said. The last-minute intervention was aimed at preventing the permanent closure of Britain’s sole remaining primary steelmaking facility. Without immediate action, the plant’s two…
Tapcheck raises $225 million in equity and debt funding
NEW YORK: Tapcheck, a leading provider of on-demand pay solutions, announced Monday that it has raised $225 million in combined equity and debt financing to accelerate its growth. The funding round includes a $25 million Series A extension led by existing investor PeakSpan Capital and a $200 million credit facility from Victory Park Capital. “We’re…
Gen Z investing platform Alinea Invest secures $10.4 million in Series A Funding
NEW YORK: Alinea Invest has raised $10.4 million in a Series A funding round to expand its investing platform tailored for the Gen Z market, the company announced Tuesday. The fintech startup, which has amassed more than 1 million users—92% of whom are women and 70% Gen Z—saw sixfold revenue growth last year, reaching a…