Category: finance
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Generali, BFF Bank and BPCE Prepare Final Bids for Apax’s Insurance Firm GamaLife — Sources
LONDON, Nov 20 (Reuters) – European financial heavyweights Generali, BFF Bank, and France’s BPCE have progressed to the second round of bidding for GamaLife, a growing European life insurance consolidator owned by private equity firm Apax Partners, according to two sources familiar with the matter. Apax is seeking a valuation of approximately €600 million ($691.56
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Abbott Enters Cancer Screening Market With $23 Billion Deal to Acquire Exact Sciences
Abbott Laboratories has announced a landmark agreement to acquire cancer-diagnostics specialist Exact Sciences in a deal valued at up to $23 billion, including debt. The acquisition marks Abbott’s largest strategic move in nearly a decade and signals its most significant push into the fast-growing cancer screening and diagnostics market. The acquisition will bring two of
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Siemens Energy to Return Up to €10 Billion to Investors Amid Global Power Market Boom
FRANKFURT/DUESSELDORF, Nov 20 – Siemens Energy announced on Thursday that it will return up to €10 billion ($11.5 billion) to shareholders by the end of 2028, capitalizing on unprecedented global demand for power infrastructure, gas turbines, and energy grid equipment. The announcement sent the company’s shares soaring to an all-time high, marking one of the
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Uber Teams Up With Starship Technologies to Roll Out Autonomous Robot Deliveries in the UK
Uber is expanding its automation strategy in a major way, announcing a new partnership with Starship Technologies to launch autonomous robot deliveries in the United Kingdom beginning in December. This marks a significant milestone for the company as it accelerates its vision of integrating robotic systems into its global delivery network. Robot Deliveries Coming First
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Spanish Court Orders Meta to Pay €479 Million for GDPR Breaches and Unfair Advertising Practices
In a landmark ruling that intensifies regulatory pressure on Big Tech firms in Europe, a Spanish commercial court has ordered Meta Platforms, the parent company of Facebook and Instagram, to pay €479 million ($552 million) to 87 Spanish digital media organizations. The decision follows accusations that Meta gained an unlawful competitive advantage by violating the
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India’s TCS to Partner with TPG for Multi-Billion Dollar AI Data Centre Joint Venture
MUMBAI – Tata Consultancy Services (TCS), India’s leading IT services company, is set to form a multi-billion dollar joint venture with private equity firm TPG to develop AI and sovereign data centres, according to a report by the Economic Times. The venture, tentatively named HyperVault AI Data Centre, will focus on large-scale data processing and
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Russian Duma Warns EU: Any Seizure of Assets Must Face Legal Action Against Belgium and Euroclear
MOSCOW – Russia’s parliament, the State Duma, issued a resolution on Thursday warning that any attempts by the European Union to seize Russian assets should be met with legal action against Belgium and Euroclear, the Belgium-based depository where most of the immobilized funds are held. The resolution comes in response to a European Commission proposal
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Colt CZ Group Lowers 2025 Outlook as U.S. Shutdown Delays Revenue
PRAGUE – Czech firearms manufacturer Colt CZ Group reported a rise in nine-month earnings but lowered its full-year 2025 outlook, citing revenue delays caused by the recent U.S. government shutdown. The United States is one of Colt CZ’s largest markets, alongside European firearms and ammunition sales. The company stated that some revenue expected in the
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LATAM Airlines and Chilean Pilots Union Reach Contract Deal, Ending Historic Strike
SANTIAGO, CHILE – LATAM Airlines and its Chilean pilots have successfully reached a contract agreement, bringing an end to the week-long strike that disrupted flights across the country. The announcement was made on Wednesday by the pilots’ union, marking the conclusion of the first strike by LATAM pilots in nearly three decades. The industrial action
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Axalta Investor Artisan Partners Urges Shareholders to Reject AkzoNobel Merger
NEW YORK – Investor Artisan Partners has voiced strong opposition to Axalta Coating Systems’ proposed all-stock merger with AkzoNobel, calling for shareholders to reject the $25 billion deal that would create a global paint and coatings powerhouse. In a letter to Axalta shareholders, Artisan Partners fund managers Daniel O’Keefe and Michael McKinnon wrote, “As an
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