The UK government has picked a preferred bidder for a steel business in the north of the country that it took over from beleaguered industrialist Sanjeev Gupta last year. The UK’s Insolvency Service will enter exclusive talks with the unnamed bidder over the potential sale of Speciality Steel , in a process that will likely last about five weeks, it said on Wednesday. The planned sale comes after ...
The UK government has picked a preferred bidder for a steel business in the north of the country that it took over from beleaguered industrialist Sanjeev Gupta last year. The UK’s Insolvency Service will enter exclusive talks with the unnamed bidder over the potential sale of Speciality Steel , in a process that will likely last about five weeks, it said on Wednesday. The planned sale comes after a London judge in August ordered the business, which employs around 1,500 people in Yorkshire, should be put into liquidation, with the government taking over the management and funding of its loss-making operations. Gupta and his companies have struggled ever since their major funder, Greensill Capital , collapsed into insolvency in 2021. Since then many of his GFG Alliance assets have been faced with insolvency proceedings initiated by creditors seeking to be repaid what they are owed, including various Greensill entities. A sale could provide a shot in the arm for the UK’s troubled steel industry, which last year also saw the Labour government step in to prevent the closing of the country’s last primary steelmaker. The UK also last month hiked tariffs and cut quotas on steel imports in a bid to protect the industry, in a break from an industrial strategy that has long favored free trade. The GMB Union welcomed the selection of a preferred bidder for Speciality Steel on Wednesday, but urged due diligence to guarantee the ongoing operation and stability of its two plants. UK Government Takes Control of Sanjeev Gupta Steel Assets UK Defends Move to Tariff Steel as ‘Not Very Donald Trump’ UK Government’s Steel Gambit Risks Being Undone by Trade War
Ferrari ( RACE ) declares EUR 3.615/share annual dividend . Payable May 5; for shareholders of record April 21; ex-div April 20. See RACE Dividend Scorecard, Yield Chart, & Dividend Growth. More on Ferrari Ferrari: Why 'Luxuryflation' Is Still Eroding The Bull Case Ferrari: The Luxury Flywheel Seems Intact, But 'Luce' Is The Brand Test Of The Decade Ferrari Remains Resilient But Isn't A Buy Yet Fe...
Ferrari ( RACE ) declares EUR 3.615/share annual dividend . Payable May 5; for shareholders of record April 21; ex-div April 20. See RACE Dividend Scorecard, Yield Chart, & Dividend Growth. More on Ferrari Ferrari: Why 'Luxuryflation' Is Still Eroding The Bull Case Ferrari: The Luxury Flywheel Seems Intact, But 'Luce' Is The Brand Test Of The Decade Ferrari Remains Resilient But Isn't A Buy Yet Ferrari earns upgrade as Q1 results likely to fuel bargain hunting Ferrari resumes Middle East shipments
Pakistan’s government is planning to handover the control of its national carrier to the Arif Habib Group-led consortium by the end of this month, as the South Asian nation moves to meet a key International monetary Fund condition of selling its stakes in state-owned firms. “End of April is the target and we are working on meeting all the conditions” for handing over the management control of Paki...
Pakistan’s government is planning to handover the control of its national carrier to the Arif Habib Group-led consortium by the end of this month, as the South Asian nation moves to meet a key International monetary Fund condition of selling its stakes in state-owned firms. “End of April is the target and we are working on meeting all the conditions” for handing over the management control of Pakistan International Airlines Corp. , said Muhammad Ali, the adviser to Prime Minister Shehbaz Sharif on Privatization, in an interview on Tuesday. However, he said, time line to handover the control in the carrier may be moved ahead by a week or two because of the US-Iran war. Pakistan’s leading businessman Arif Habib-led group won a 75% stake in the national flag carrier for 135 billion rupees ($484 million) in Dec., in a bid to take control of the airline struggling for decades with operational inefficiencies, an aging fleet, losses and political intervention. The bidding group also includes Fatima Fertilizer Co ., Fauji Fertilizer Co. and AKD Group. The government is awaiting its offer to the group to buy its remaining 25% stake, he said. The Privatisation Commission, the asset sale agency, plans to seek bids this month to sell its stakes in power distribution companies including Gujranwala Electric Power Co. and Islamabad Electric Supply Co. “We have been working on the power distributors for the last six months,” he said. “It is challenging but we are heading in the right direction.” The sale of stakes is part of a broader reforms program that Pakistan is following tied to the IMF’s loan program.
(RTTNews) - A report released by the Federal Reserve Bank of New York on Wednesday unexpectedly showed a moderate increase in New York manufacturing activity in the month of April.
(RTTNews) - A report released by the Federal Reserve Bank of New York on Wednesday unexpectedly showed a moderate increase in New York manufacturing activity in the month of April.
Presidio Production Company ( FTW ) declares $0.1013/share special dividend . Payable May 18; for shareholders of record May 4; ex-div May 4. See FTW Dividend Scorecard, Yield Chart, & Dividend Growth. More on Presidio Production Company Financial information for Presidio Production Company
Presidio Production Company ( FTW ) declares $0.1013/share special dividend . Payable May 18; for shareholders of record May 4; ex-div May 4. See FTW Dividend Scorecard, Yield Chart, & Dividend Growth. More on Presidio Production Company Financial information for Presidio Production Company
Adia Nutrition ( ADIA ) announced on Wednesday that it is in the process of changing its corporate name to Adia Med. The company said that the name change reflects the company's evolving business model, which has shifted significantly toward advanced medical treatments and biologics, as Adia now operates through key divisions, including Adia Med clinics (offering stem cell therapies, platelet-rich...
Adia Nutrition ( ADIA ) announced on Wednesday that it is in the process of changing its corporate name to Adia Med. The company said that the name change reflects the company's evolving business model, which has shifted significantly toward advanced medical treatments and biologics, as Adia now operates through key divisions, including Adia Med clinics (offering stem cell therapies, platelet-rich plasma (PRP), autologous hematopoietic stem cell transplantation (AHSCT), therapeutic plasma exchange, orthopedic care, pain management, and wound repair) and Adia Labs, which develops and sells biologic products such as AdiaVita and AdiaLink. The company expects the name change process to be completed in the coming months. The ticker symbol ( ADIA ) is expected to remain unchanged during the transition. Source: Press Release More on Adia Nutrition, Inc. Financial information for Adia Nutrition, Inc.
Sikorsky, a unit of Lockheed Martin ( LMT ), on Wednesday said it introduced new armed configuration kits for its Black Hawk helicopter, allowing operators to adapt the aircraft for a broader range of missions without requiring separate specialized fleets. Armed Black Hawk kits (Lockheed Martin) The kits are designed to expand the Black Hawk’s role beyond traditional transport into missions such a...
Sikorsky, a unit of Lockheed Martin ( LMT ), on Wednesday said it introduced new armed configuration kits for its Black Hawk helicopter, allowing operators to adapt the aircraft for a broader range of missions without requiring separate specialized fleets. Armed Black Hawk kits (Lockheed Martin) The kits are designed to expand the Black Hawk’s role beyond traditional transport into missions such as airmobile assault, close air support, medical evacuation, intelligence, surveillance and reconnaissance and tactical lift. The configurations can be swapped in a matter of hours, according to the company. The move underscores a broader shift in defense procurement toward modular, multi-role systems that can lower lifecycle costs, a trend that could benefit large contractors with established platforms. For Lockheed Martin ( LMT ), the kits may support incremental revenue through upgrades, sustainment and foreign military sales tied to the widely deployed Black Hawk fleet. Its offering includes two production-ready variants that support either close support or precision strike capabilities. Operators can also upgrade aircraft over time using modular armament wings, rather than committing to a fixed configuration upfront. The announcement comes as military customers increasingly seek flexible platforms that can perform multiple roles while reducing procurement and maintenance costs. Sikorsky said the kits are intended to allow a single fleet to handle missions that might otherwise require multiple aircraft types. The company said the kits can be delivered through U.S. government-backed foreign military sales programs or via direct commercial agreements. Installation for some customers may be handled by PZL Mielec, a Lockheed-owned facility in Poland. Sikorsky has continued to update the Black Hawk platform since the introduction of its “M” variant in 2006, incorporating higher-output engines, digital systems and elements of flight autonomy. The company expects the aircraft t...
Sundry Photography/iStock Editorial via Getty Images Piper Sandler upgraded Cloudflare's ( NET ) rating to Overweight from Neutral with a $222 price target, citing potential AI tailwinds. Shares of the cybersecurity provider climbed about 3% premarket on Wednesday. Analysts led by James Fish said they have long viewed Cloudflare as one of their favorite long-term stories, given where infrastructur...
Sundry Photography/iStock Editorial via Getty Images Piper Sandler upgraded Cloudflare's ( NET ) rating to Overweight from Neutral with a $222 price target, citing potential AI tailwinds. Shares of the cybersecurity provider climbed about 3% premarket on Wednesday. Analysts led by James Fish said they have long viewed Cloudflare as one of their favorite long-term stories, given where infrastructure is heading, Cloudflare's execution, and the power of this true platform approach. The analysts added that a great entry point has been difficult to come by given this, but they see the recent pullback as a window to get involved. "Our upgrade is based on: 1) Cloudflare's infrastructure positioning across multiple growth opportunities across Delivery, AppSec, NaaS [Network as a Service], SASE [Secure Access Service Edge], IaaS [Infrastructure as a Service], AIaaS [AI as a Service]; 2) 1Q26 inputs are solid, though we expect '26 guide to be reiterated as normal," said Fish and his team. Thirdly, the analysts said that the landscape is shifting more towards Edge Distribution Platforms, or EDPs, with Cloudflare a dominant player here with strong Large Language Model, or LLM, relationships that should see it benefit from AI adoption. This does have high expectations that likely need to see growth compound at least in the high twenties for multiple years, though confidence in this is driven by Remaining Performance Obligation, or RPO, growth and coverage ratios, the analysts added. More on CloudFlare Cloudflare: Avoid Stablecoin Hype Cloudflare: Loaded Up At $170, Where I'll Load Up Next Cloudflare: Flawless Execution Meets Mathematically Impossible Valuation Cloudflare, ServiceNow, Atlassian rank as Mizuho's top software stocks ahead of earnings Cloudflare launches Mesh targeting end-to-end AI agent security