President Donald Trump said Iran has agreed to permanently forgo nuclear weapons as part of a potential accord, even as his administration transmitted a revised, more stringent counterproposal to Tehran and skirmishes persisted along fragile ceasefire lines. “The one guarantee that I have to have is that there will be no nuclear weapons. They’ve agreed…
NEW YORK: Nextpower (Nasdaq: NXT) said it has agreed to acquire Prevalon Energy, a U.S.-based joint venture between Mitsubishi Power Americas and EES, for total consideration of up to $365 million in cash and stock, excluding cash to be acquired. The deal is expected to close in the second quarter of fiscal 2027, subject to customary…
SAN FRANCISCO: Asana, Inc. (NYSE: ASAN, LTSE: ASAN) said Monday it has acquired StackAI, a no-code platform that lets companies design, deploy and govern AI agents across enterprise systems such as ERP, CRM and ITSM. The deal combines Asana’s work management platform with StackAI’s multi-agent execution engine, allowing customers to automate end-to-end business-critical workflows — from…
NEW YORK: Fonoa, an AI-powered tax operating system for multinational companies, said it has acquired Indirect Tax Edge (Edge) from PricewaterhouseCoopers and raised $110 million in Series C funding, as it moves to create the first end-to-end system for global indirect tax compliance. The funding round was led by Headline, with new investors Eurazeo and Forestay Capital joining…
CAPE CANAVERAL: SpaceX has filed plans for a U.S. initial public offering that could become the largest in Wall Street history, potentially pushing Elon Musk’s net worth past $1 trillion. The rocket maker and satellite internet provider, officially known as Space Exploration Technologies Corp., said it expects to begin trading as soon as next month under the…
MILAN: Stellantis and China’s Dongfeng Group have signed a non-binding memorandum of understanding to expand their 34-year partnership, aiming to create a Europe-based joint venture focused on the sales and distribution of Dongfeng’s new energy vehicles, the companies said. The proposed Stellantis-led venture would be structured as a 51/49 split and would initially target designated European markets with…
LONDON: Standard Chartered plans to eliminate more than 7,000 jobs over the next four years, turning to artificial intelligence to replace what its chief executive called “lower-value human capital.” The London-based lender said Tuesday it would cut 15% of its corporate function roles by 2030. That reduction would amount to more than 7,000 positions out of roughly 52,000 staff…
NEW YORK: About 3,500 workers for the Long Island Rail Road went on strike Saturday after contract negotiations failed, shutting down the nation’s busiest commuter rail system just ahead of the Memorial Day weekend. The strike, the first in more than three decades, was launched by a group of five unions represented by the International…
SAN JOSE: Nextpower, a provider of intelligent power generation systems for solar power plants, said Thursday it has agreed to acquire complementary assets of Zigor Corporation’s power conversion business and its U.S.-based subsidiary, Apex Power. The transaction, valued at approximately $80.5 million in cash plus potential earnouts, is designed to expand Nextpower’s product portfolio in…
PHOENIX: Dutch Bros Inc. (NYSE: BROS) said Monday it has agreed to acquire the Phoenix East Valley franchise, a 29-shop operation whose owner, Jim Thompson, is retiring after almost two decades with the company. The acquisition is expected to close in the third quarter of 2026, expanding Dutch Bros’ company-operated footprint in a key growth…
SAN FRANCISCO: Judgment Labs, a three-month-old infrastructure startup building tools to help AI-powered agents improve from real-world production data, has raised $32 million in combined seed and Series A funding, with both rounds led by Lightspeed Venture Partners. The funding will expand the company’s research team and platform, which is already in use at several…
LOS ANGELES: Heaviside Industries, a developer of autonomous precision munitions, emerged from stealth Thursday with a $28 million Series A funding round led by Interlagos. Menlo Ventures, Flume Ventures, Cantos, Anorak Ventures, and several individual investors also participated, including Frank Finelli, former partner and managing director at The Carlyle Group; Paul Dimitruk, co-founder and senior…