LONDON Investment firm Petershill Partners (PHLL.L), backed by Goldman Sachs (GS.N), said on Friday it plans to delist from the London Stock Exchange, becoming the latest company to quit the city’s equity market in a deal valuing it at about £3.4 billion. The FTSE 250 group, which provides retail investors access to private equity and…
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Starbucks to close stores, cut jobs in $1 billion restructuring push
Key Points: Starbucks announced a major restructuring plan on Thursday that includes shuttering underperforming stores in North America and cutting 900 jobs, as Chief Executive Brian Niccol presses ahead with his strategy to streamline the coffee chain and reignite growth. The $1 billion effort comes as Starbucks grapples with six straight quarters of sales decline…
EU car sales rise in August; Chinese brands gain ground as Tesla slips
BRUSSELS: Car sales across the European Union, Britain and the European Free Trade Association rose 4.7% in August to 800,000 units, according to data released Thursday by the European Automobile Manufacturers’ Association (ACEA). Volkswagen and Renault posted year-on-year gains of 4.8% and 7.8%, respectively, while Stellantis saw a 2.2% increase — its first growth since…
Handgards LLC acquires Albany Packaging USA to expand foodservice offerings
EL PASO: Handgards, LLC, a leading distributor of foodservice products and a portfolio company of Wynnchurch Capital, L.P., announced Thursday it has acquired Albany Packaging USA, a Florida-based distributor of paper-based foodservice packaging. Albany Packaging, headquartered in Deerfield Beach, specializes in paper folding cartons and other packaging solutions sold to supermarkets, bakeries, restaurants and convenience…
BNP Associates acquires Studdiford Technical Solutions to expand aviation design capabilities
FAIRFIELD: BNP Associates, Inc., a leading air transportation and logistics engineering firm backed by Godspeed Capital Management LP, announced on Thursday the acquisition of Studdiford Technical Solutions, LLC, a specialized consulting firm focused on airport systems and transportation security. The acquisition enhances BNP’s terminal design portfolio and adds advanced technology capabilities to its global aviation…
Renault Group raises €850 million in oversubscribed green bond offering
PARIS: Renault Group announced Tuesday the successful placement of its first-ever green bond issuance, raising €850 million with a maturity date of Sept. 30, 2030, and a coupon of 3.875%. The offering was significantly oversubscribed, signaling strong investor confidence in the automaker’s strategic transformation under its Renaulution plan. Proceeds from the bonds will be allocated…
Genstore raises $10 million seed round to pioneer AI-native e-commerce
LOS ANGELES: Genstore, a rising startup redefining online retail through AI-native architecture, has closed a $10 million seed funding round led by Weimob, a prominent SaaS player in the e-commerce and retail space. Lighthouse Founders’ Fund also participated in the round, marking Genstore’s first capital raise since its founding in late 2024. The funding will…
Amazon to shut all fresh supermarkets in U.K.; Shifts focus to online grocery delivery
LONDON: Amazon said Tuesday it will close all 19 of its Fresh supermarkets in the United Kingdom, marking a strategic retreat from its physical grocery footprint in the region. The company announced the move in a blog post, citing “a thorough evaluation of business operations and the very substantial growth opportunities in online delivery.” Five…
UAE’s Arada enters UK housing market with majority stake in London developer Regal
Dubai: UAE-based property developer Arada has announced its entry into the UK housing market through the acquisition of a 75% stake in Regal, a leading London-based residential-led mixed-use developer. The deal marks Arada’s second international expansion following its move into Australia in 2024, and aligns with its strategy to diversify geographically. The company, which launched…
Recur Software acquires Innova Zones, expands into food processing software market
SAN FRANCISCO: Recur Software announced Monday it has acquired Innova Zones, a leading provider of asset and compliance management software tailored for food processing facilities. The acquisition marks Recur’s official entry into the food processing software vertical. Founded in 2014, Innova Zones serves more than 170 food processing plants across the United States, including facilities…
Mineros S.A. acquires full ownership of La Pepa gold project in Chile
MEDELLIN: Mineros S.A. (TSX:MSA, MINEROS:CB), a leading Latin American gold producer, has announced the successful acquisition of the remaining 80% interest in the La Pepa Project from Pan American Silver Corp. for approximately US$40 million. With this transaction, Mineros now holds 100% ownership of the advanced-stage gold exploration asset located in Chile’s prolific Maricunga Gold…
Dow Jones acquires Eco-Movement to expand EV charging data portfolio
NEW YORK: Dow Jones has acquired Eco-Movement, a leading global platform for EV charging station data. Eco-Movement will operate as part of OPIS, Dow Jones’s growing energy business. Headquartered in Utrecht, Netherlands, Eco-Movement is a leading charge point data platform. The company collects, optimizes and enriches EV charging station data, and has built an extensive data…