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…
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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…
CloudKeeper hits $200m revenue, expands cloud cost optimization leadership
SAN FRANCISCO: CloudKeeper, a top cloud cost optimization and FinOps firm, reported $200 million in annualized revenue and $20 million in EBITDA for the last fiscal year, marking 50% year-over-year growth. The milestone solidifies its position as one of the fastest-growing companies in the global cloud cost management sector. The company’s growth was driven by aggressive customer acquisition and expansion into North America, where…
Fox Corp acquires Mexico’s Caliente TV
NEW YORK: Fox Corp. said Thursday it has acquired Caliente TV, a Mexican sports broadcasting platform, in a move aimed at strengthening its sports content and expanding its streaming footprint in Latin America. Financial terms of the deal were not disclosed. The acquisition is part of Fox’s broader push into sports streaming, as the company…
Worthington Enterprises acquires Elgen Manufacturing for $93 million
COLUMBUS: Worthington Enterprises (NYSE: WOR) announced Wednesday it has acquired Elgen Manufacturing, a New Jersey-based producer of HVAC components, for approximately $93 million in cash. Elgen, headquartered in Closter, specializes in steel-based ductwork, framing and HVAC parts used in commercial buildings across North America. The company will join Worthington’s Building Products segment, broadening its offerings…
QXO proposes $5 billion all-cash acquisition of GMS Inc. at 27% premium
NEW YORK: QXO, Inc. (NYSE: QXO) announced Thursday it has submitted a proposal to acquire all outstanding shares of GMS Inc. (NYSE: GMS) in an all-cash transaction valued at approximately $5 billion, offering $95.20 per share — a 27% premium over GMS’s 60-day volume-weighted average price. Brad Jacobs, QXO’s chairman and chief executive, said the…
Buss Family agrees to sell majority stake in Los Angeles Lakers for $10 billion
LOS ANGELES: The Buss family has agreed to sell a majority stake in the Los Angeles Lakers to businessman Mark Walter in a deal that values the storied NBA franchise at $10 billion. The sale would set a new record for an NBA team valuation. The Lakers play at Crypto.com Arena, which is owned by…
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…
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,…
Diamond Properties expands industrial portfolio with Ohio acquisitions
CINCINNATI: Diamond Properties, a real estate investment firm, has acquired two industrial properties in Ohio, strengthening its presence in logistics and distribution markets. The properties include 621 Wilmer Avenue in Cincinnati, a 79,544-square-foot industrial facility, and I-271 Commerce Center in Mayfield Village, a 90,560-square-foot facility in the Cleveland metropolitan area. Both assets are fully occupied….