In the ever-evolving landscape of technology, Artificial Intelligence (AI) stands out as a revolutionary force, particularly in the realm of financial forecasting. AI refers to the simulation of human intelligence in machines that are programmed to think and learn. Its relevance in financial forecasting cannot be overstated; AI algorithms can analyze vast amounts of data,…
Category: Wire
News wire, ,nyse exchange, market newspaper, equities market news, financial news,
Tesco Plc reports 100% growth in operating profit to £2.821 billion in FY 23/24
LONDON: Tesco Plc has announced its financial results for the fiscal year 23/24, showcasing significant gains across various financial metrics. The retail giant reported group sales of £61.477 billion, marking a 7.4% increase at actual rates compared to the previous year’s £57.216 billion. This growth remained consistent at constant rates with a 7.2% rise, reflecting…
GIP Australia Fund II raises A$4.0 billion for Australasian Ventures
Global Infrastructure Partners (GIP) has successfully closed its fundraising efforts for the GIP Australia Fund II (GIPA II), amassing A$4.0 billion in committed capital. This impressive figure sits at the zenith of their initial target range of A$3.0 to A$4.0 billion. The fund has garnered robust support from institutional investors spread across the continents—from Australia…
Procurement Sciences AI raises $10 million in series A funding
Procurement Sciences AI (PSci.AI), a veteran-founded company specializing in generative AI tools for government contracting, announced a successful $10M Series A funding round today. The investment was spearheaded by Battery Ventures, with additional contributions from Tower Research Capital, K Street Capital, and Blu Ventures. The funding will enhance PSci.AI’s platform, which promises to revolutionize the…
AMD launches adaptive SOCs Versal AI Edge Series Gen 2 and Versal Prime Series Gen 2
NUREMBERG, GERMANY: AMD (NASDAQ: AMD) announced the expansion of the AMD Versal adaptive system on chip (SoC) portfolio with the new Versal AI Edge Series Gen 2 and Versal Prime Series Gen 2 adaptive SoCs, which bring preprocessing, AI inference, and postprocessing together in a single device for end-to-end acceleration of AI-driven embedded systems. These…
Back-Track acquires Upstrem Holding
Back-Track, a subsidiary of BUYBOX, LLC, has acquired Upstrem Holding Co., LLC, a leader in Return and Resell technology solutions. This acquisition merges Upstrem’s innovative technology with Back-Track’s operational prowess in recommerce, promising to deliver optimal recovery for eCommerce customer returns. The union is set to create a powerhouse in the recommerce industry, with a…
Unipart posts 14.2% increase in revenues surpassing £1bn for the first time
OXFORD, ENGLAND: Unipart, the supply chain solutions and performance improvement technologies partner, delivered a strong year of growth and expansion in 2023. Group turnover increased to £1,047.9m (2022: £917.3m), delivering underlying Group profit before interest and tax to £21.7m (2022: £12.2m). Unipart’s international regions delivered strong profit growth, with the UK business showing solid progress…
RBC appoints Katherine Gibson as interim Chief Financial Officer
TORONTO: Royal Bank of Canada (TSX:RY) and (NYSE: RY) announced the appointment of Katherine Gibson as Interim Chief Financial Officer (CFO). She succeeds Nadine Ahn whose employment was terminated by RBC earlier today, effective immediately. RBC was recently made aware of allegations involving Ms. Ahn and immediately launched an internal review and engaged outside legal…
White Cap acquires Crimson Steel
ATLANTA: White Cap, a prominent supplier of construction materials, has acquired Oklahoma-based Crimson Steel Supply, LLC, enhancing its rebar and structural steel offerings. Crimson Steel, known for its engineered steel products, joins White Cap’s brand portfolio, promising to leverage its expertise to bolster service quality. The acquisition, advised by D.A. Davidson & Co., marks a…
Windtree Therapeutics acquires Varian Biopharmaceuticals’ assets
Windtree Therapeutics, Inc. (NasdaqCM: WINT) has announced the acquisition of a novel oncology asset platform from Varian Biopharmaceuticals, Inc., including an atypical protein kinase C iota inhibitor (aPKCi), and the completion of a $1.5 million convertible note bridge financing. The transaction, which took place on April 2, 2024, involved the issuance of 5,500 shares of…
Angi Inc appoints Jeff Kip as new CEO
DENVER:Home services giant Angi Inc. (NASDAQ: ANGI) announced today the promotion of Jeff Kip to the position of Chief Executive Officer. Jeff Kip, who has been with Angi and its parent company IAC in various executive roles, steps into the CEO role effective immediately, taking over from Joey Levin. Levin will maintain his involvement with…
Stratasys appoints Amir Kleiner as new Chief Operating Officer
Stratasys Ltd. (NASDAQ: SSYS), a frontrunner in 3D printing and additive manufacturing solutions, has announced the elevation of Amir Kleiner to the role of Chief Operating Officer. Amir Kleiner, a seasoned member of the Stratasys family with 12 years of dedicated service, is set to oversee the company’s Global Operations, MIS, and Quality teams. His…