NEW YORK: Private equity firm Brightstar Capital Partners has completed its acquisition of PlayAGS, Inc. (NYSE: AGS), a global gaming supplier, in a deal valued at approximately $1.1 billion, company said on Monday. The transaction, first announced May 9, was finalized after receiving approval from AGS stockholders and necessary regulatory clearances. AGS shareholders will receive…
Category: Wire
News wire, ,nyse exchange, market newspaper, equities market news, financial news,
U.K.-U.S. trade deal takes effect, cuts tariffs on British cars but leaves metals in question
LONDON: A new U.K.-U.S. trade deal took effect Monday, granting British car exports preferential tariff rates while leaving final levies on metal shipments unresolved. The agreement, the first Washington has struck since President Donald Trump announced reciprocal tariffs in April, imposes a blanket 10% duty on most British goods entering the U.S. For autos, the…
Torrent Pharma to acquire JB Chemicals from KKR in $3 billion deal, paving way for merger
MUMBAI: Torrent Pharmaceuticals Ltd. on Sunday said it has entered into definitive agreements to acquire a controlling stake in JB Chemicals and Pharmaceuticals Ltd. from global investment firm KKR in a deal valued at ₹25,689 crore ($3 billion) on a fully diluted basis, to be followed by a merger of the two companies. The acquisition…
Altimetrik to acquire SLK Software to boost AI, digital engineering services
DETROIT: Altimetrik, an AI, data and digital engineering solutions company, announced Thursday it has signed a definitive agreement to acquire SLK Software, a global technology services firm specializing in AI, intelligent automation and analytics. The deal will enhance Altimetrik’s end-to-end services and expand its customer base, advancing its goal of reaching $1 billion in annual…
McGraw Hill files for U.S. IPO
McGraw Hill, a leading textbook publisher and educational course provider owned by billionaire Tom Gores’ Platinum Equity, filed for an initial public offering (IPO) in the U.S. on Friday, according to a statement. The move comes nearly four years after Platinum Equity acquired the company for $4.5 billion and aligns with a resurgence in the…
Rytoriacap acquires ASC Engineered Solutions’ Blossburg Foundry
BLOSSBURG: Rytoriacap Inc. (“Rytoria”), a North American leader in circular metal processing and recycling, has acquired ASC Engineered Solutions’ foundry and associated facilities in Blossburg, Pennsylvania, the companies announced Thursday. The sale follows ASC’s effort to find a buyer committed to maintaining the site as an active part of Tioga County’s industrial economy. “Blossburg is…
US inflation rate rose to 2.7% in May, more than expected
Fed eyes summer trajectory as inflation cools, consumption contracts WASHINGTON: Inflation crept higher in May but showed further signs of deceleration, reinforcing expectations that the Federal Reserve may keep interest rates steady in the near term as it assesses the economy’s slowing momentum. The personal consumption expenditures price index — the Fed’s preferred inflation gauge…
UK production of new cars and commercial vehicles dropped 32.8% in May
LONDON: U.K. vehicle production fell sharply for a fifth consecutive month in May, reaching its lowest level since 1949 outside of the COVID-19 pandemic, as trade pressures and factory changes continued to disrupt the industry, new data showed Friday. The Society of Motor Manufacturers and Traders reported that production of new cars and commercial vehicles…
SWARM Biotactics raises €13 million to deploy AI-driven insect swarms for mission-critical operations
KASSEL: SWARM Biotactics, a developer of insect-based bio-robotic systems, has raised €10 million ($10.7 million) in seed funding to scale its intelligent swarm technology for use in defense, security and emergency response missions. The latest round brings the German startup’s total funding to €13 million, including a €3 million pre-seed investment. The round was led…
Middle east aviation crisis: Airlines reroute flights amid U.S.-Iran tensions
With Hormuz in jeopardy, flight paths shift and policymakers face new economic headaches Aviation networks across the Middle East are navigating a volatile new normal as U.S. illegal strikes on Iranian nuclear sites—and Tehran’s vow to retaliate—have triggered cascading disruptions to global air traffic, rising fuel costs, and a fraught geopolitical climate with no clear…
Which markets are opening up? MSCI’s 2025 accessibility report uncovers critical trends
Ireland, Greece, and Korea show progress, while China and Turkey face persistent barriers MSCI Inc. has released its 2025 Global Market Accessibility Review, highlighting a year marked by significant reforms in market infrastructure, particularly across Emerging and Frontier Markets. The report, published annually, evaluates the investability of equity markets using five core criteria and 18…
Canada threatens escalated counter-tariffs on U.S. steel and aluminum imports
Canada weighs stronger trade retaliation as U.S. steel and aluminum imports face 50% tariffs, industry braces for impact OTTAWA: Canada may impose higher counter-tariffs on U.S. steel and aluminum imports if negotiations with the Trump administration fail to yield a broader trade deal within the next 30 days, Prime Minister Mark Carney said Thursday. The…