(Bloomberg) -- SK Hynix Inc. seeks to list its American Depositary Receipts in what may be one of the biggest US debuts by a foreign company ever, part of the chipmaker’s bid to keep pace with artificial intelligence’s voracious demand for memory.The advanced memory supplier to Nvidia Corp. aims to make an offering in New York in the second half of the year, Chief Executive Officer Kwak Noh-Jung t...
(Bloomberg) -- SK Hynix Inc. seeks to list its American Depositary Receipts in what may be one of the biggest US debuts by a foreign company ever, part of the chipmaker’s bid to keep pace with artificial intelligence’s voracious demand for memory.The advanced memory supplier to Nvidia Corp. aims to make an offering in New York in the second half of the year, Chief Executive Officer Kwak Noh-Jung told shareholders during an annual general meeting on Wednesday. When asked if SK Hynix seeks to rais
Indian refiners have bought about 60 million barrels of Russian oil for delivery next month, according to people familiar with the matter, easing supply concerns as the Middle East war chokes flows. The cargoes were booked at premiums of $5 to $15 a barrel to Brent, said the people, who asked not to be named due to the sensitivity of the trade. The volume is similar to the amount of purchases for ...
Indian refiners have bought about 60 million barrels of Russian oil for delivery next month, according to people familiar with the matter, easing supply concerns as the Middle East war chokes flows. The cargoes were booked at premiums of $5 to $15 a barrel to Brent, said the people, who asked not to be named due to the sensitivity of the trade. The volume is similar to the amount of purchases for this month, but more than double than that for February, according to data intelligence firm Kpler. The buying spree followed a US waiver that allowed India to take Russian oil that was already loaded onto vessels before March 5 to offset shortages caused by the effective closure of the Strait of Hormuz. The measure was subsequently expanded to include other countries and updated to allow purchases of crude already at sea before March 12. The South Asian nation is heavily reliant on imported oil, and became a major buyer of discounted Russian crude following the invasion of Ukraine in early 2022. However, India sharply cut back purchases from late last year under US pressure, turning instead to barrels from Saudi Arabia and Iraq, much of which then became trapped inside the Persian Gulf after the outbreak of the war. Read More: US Treasury Gives Green Light for Sale of More Russian Oil Officials in New Delhi expect the US waiver to be extended as long as disruptions in Hormuz persist, the people said. Refiners such as Mangalore Refinery & Petrochemicals Ltd. and Hindustan Mittal Energy Ltd. , which had avoided Russian oil since December, have returned to the market, they said. In addition to buying more Russian oil, Indian processors are also looking elsewhere to diversify their supply as the war drags on. The country’s purchases of Venezuelan crude for April arrival are projected at 8 million barrels, the highest since October 2020, according to Kpler. Russia, meanwhile, is reaping bumper profits on renewed demand and elevated prices for its oil. The Kremlin is earning the...
David Rubenstein made one of the world’s biggest buyout fortunes with bets on everything from oil pipelines to pet food. Today, the Carlyle Group Inc. co-founder’s middle child is working to build her own reputation in the industry with a different approach. Gabrielle “Ellie” Rubenstein ’s Manna Tree Partners is carving out a niche in the booming wellness space, helping her defy the prolonged dry ...
David Rubenstein made one of the world’s biggest buyout fortunes with bets on everything from oil pipelines to pet food. Today, the Carlyle Group Inc. co-founder’s middle child is working to build her own reputation in the industry with a different approach. Gabrielle “Ellie” Rubenstein ’s Manna Tree Partners is carving out a niche in the booming wellness space, helping her defy the prolonged dry spell in dealmaking for private equity firms, including Carlyle. Denver-based Manna Tree last month sold a stake in US cottage cheese company Good Culture to L Catterton , the buyout investor backed by Bernard Arnault ’s LVMH, in one of its biggest deals so far. Now, against the backdrop of rising geopolitical instability, it’s seeking to test investor demand with plans to raise $500 million for its third fund, according to regulatory filings. “We’re still seeing a tremendous amount of deal flow,” said Rubenstein, 37, who oversees $736.6 million in assets at the firm with fellow founder and managing partner Ross Iverson . Read More: Private Equity’s Dry Spell Worse Than 2008 Crisis, Bain Says While buyout firms are struggling to find large-scale targets for deals that helped define the industry’s previous high-growth era, Manna Tree argues competition is less fierce for the mid-sized companies that it typically targets. Read More: Private Equity’s Dry Spell Worse Than 2008 Crisis, Bain Says The firm notched gains of almost 120% in 16 months with an investment in Vital Farms , which it exited through the egg producer’s US initial public offering in 2020. Its second fund has also outpaced the so-called harvesting period for most private equity vehicles by already producing profits to rival its $390 million fundraising total. And annual sales for Good Culture, valued at more than $500 million in the deal that closed last month, have at least tripled since Manna Tree first invested an undisclosed sum four years ago. A representative for the investment firm declined to disclose ...
da-kuk Anduril Industries and Palantir Technologies ( PLTR ) are working together to develop the core software for the U.S. “Golden Dome” missile‑defense initiative, The Wall Street Journal reported, citing people familiar with the matter. These companies are part of a broader consortium of defense and technology firms aiming to have the Golden Dome software ready for testing as early as this summ...
da-kuk Anduril Industries and Palantir Technologies ( PLTR ) are working together to develop the core software for the U.S. “Golden Dome” missile‑defense initiative, The Wall Street Journal reported, citing people familiar with the matter. These companies are part of a broader consortium of defense and technology firms aiming to have the Golden Dome software ready for testing as early as this summer. Other companies involved are Aalyria Technologies, AI startup Scale AI ; and software firm Swoop Technologies , according to the report . The companies will be collaborating to build the core software layer of the Golden Dome project—an $185B initiative to build a space-based missile shield designed to counter ballistic, cruise, and hypersonic threats. Anduril Industries is known for autonomous defense systems and AI-driven surveillance platforms. Their expertise lies in sensor fusion, autonomous drones, and battlefield AI. Its founder, Palmer Luckey, had earlier said that he doesn't object to the tighter oversight of defense contractors proposed by President Donald Trump, including potential limits on executive compensation. Palantir Technologies specializes in data integration, analytics, and decision-support software. The company could likely focus on real-time threat detection, tracking, and command-and-control systems. Recently, Deputy Secretary of Defense Steve Feinberg reportedly told Pentagon leaders that Palantir’s ( PLTR ) Maven AI system will become an official program of record. Space Force Gen. Michael Guetlein, who leads the project at the Pentagon, described the software as a “glue layer” designed to help military officers coordinate and manage networks of sensors, radars, and missile systems. After the launch of the Golden Dome software consortium last year, Michael Guetlein brought in established defense contractors, including Lockheed Martin ( LMT ) , Northrop Grumman ( NOC ) , and RTX ( RTX ) , to support development of the system’s operating framewo...
da-kuk Anduril Industries and Palantir Technologies ( PLTR ) are working together to develop the core software for the U.S. “Golden Dome” missile‑defense initiative, The Wall Street Journal reported, citing people familiar with the matter. These companies are part of a broader consortium of defense and technology firms aiming to have the Golden Dome software ready for testing as early as this summ...
da-kuk Anduril Industries and Palantir Technologies ( PLTR ) are working together to develop the core software for the U.S. “Golden Dome” missile‑defense initiative, The Wall Street Journal reported, citing people familiar with the matter. These companies are part of a broader consortium of defense and technology firms aiming to have the Golden Dome software ready for testing as early as this summer. Other companies involved are Aalyria Technologies, AI startup Scale AI ; and software firm Swoop Technologies , according to the report . The companies will be collaborating to build the core software layer of the Golden Dome project—an $185B initiative to build a space-based missile shield designed to counter ballistic, cruise, and hypersonic threats. Anduril Industries is known for autonomous defense systems and AI-driven surveillance platforms. Their expertise lies in sensor fusion, autonomous drones, and battlefield AI. Its founder, Palmer Luckey, had earlier said that he doesn't object to the tighter oversight of defense contractors proposed by President Donald Trump, including potential limits on executive compensation. Palantir Technologies specializes in data integration, analytics, and decision-support software. The company could likely focus on real-time threat detection, tracking, and command-and-control systems. Recently, Deputy Secretary of Defense Steve Feinberg reportedly told Pentagon leaders that Palantir’s ( PLTR ) Maven AI system will become an official program of record. Space Force Gen. Michael Guetlein, who leads the project at the Pentagon, described the software as a “glue layer” designed to help military officers coordinate and manage networks of sensors, radars, and missile systems. After the launch of the Golden Dome software consortium last year, Michael Guetlein brought in established defense contractors, including Lockheed Martin ( LMT ) , Northrop Grumman ( NOC ) , and RTX ( RTX ) , to support development of the system’s operating framewo...
Edward Moncreiffe, Insurance CEO at HSBC Group, says he's been seeing a lot of "new money" coming in as clients look to de-risk. He also discusses HSBC insurance's exposure to private credit on "Bloomberg: The China Show." (Source: Bloomberg)
Edward Moncreiffe, Insurance CEO at HSBC Group, says he's been seeing a lot of "new money" coming in as clients look to de-risk. He also discusses HSBC insurance's exposure to private credit on "Bloomberg: The China Show." (Source: Bloomberg)
A fire was being contained at Russia’s Ust-Luga port on Wednesday after 56 drones were destroyed over the Leningrad region, local governor Alexander Drozdenko said, the latest strike on the country’s oil export infrastructure. The roof of a residential building was also damaged in Vyborg and air defenses were continuing to repel the attack, Drozdenko said on Telegram. Ust-Luga is one of Russia’s l...
A fire was being contained at Russia’s Ust-Luga port on Wednesday after 56 drones were destroyed over the Leningrad region, local governor Alexander Drozdenko said, the latest strike on the country’s oil export infrastructure. The roof of a residential building was also damaged in Vyborg and air defenses were continuing to repel the attack, Drozdenko said on Telegram. Ust-Luga is one of Russia’s largest oil export terminals on the Baltic Sea and a key hub for crude and refined product shipments, while nearby Vysotsk, close to Vyborg, hosts Novatek PJSC’s Cryogas-Vysotsk LNG plant. The latest attack follows the March 23 drone strike that caused disruptions at the Russian Baltic port of Primorsk, where crude and diesel loadings were suspended. That strike contributed to at least a 36-hour hiatus in cargo loadings, according to shipping information seen by Bloomberg. Primorsk and Ust-Luga are Russia’s main western oil export hubs, and any sustained disruption there would add to strains on global supply as Brent oil trades near $100 a barrel due to the Iran war and severe disruption to flows through the Strait of Hormuz. In total, air defense forces shot down 389 Ukrainian drones over Russian regions overnight, the Russian Ministry of Defense said, one of the largest numbers in recent months.
undefined War risk insurance for ships crossing the Strait of Hormuz has surged in cost and become intermittently unavailable after a conflict involving the U.S., Israel and Iran began in late February, disrupting global shipping. Premiums for a single transit have risen from about 0.25% of a vessel’s value before the conflict to as high as 4%–10%, while insurers at times withdraw quotes entirely,...
undefined War risk insurance for ships crossing the Strait of Hormuz has surged in cost and become intermittently unavailable after a conflict involving the U.S., Israel and Iran began in late February, disrupting global shipping. Premiums for a single transit have risen from about 0.25% of a vessel’s value before the conflict to as high as 4%–10%, while insurers at times withdraw quotes entirely, industry participants told Caixin.
American No 4 seed beats Belinda Bencic 6-3, 1-6, 6-3 in quarter-final Gauff next faces 13th seed Karolína Muchová for a place in final Coco Gauff may be struggling with an unfamiliar arm injury, indifferent form and the pressure of attempting to transform her serve with the entire tennis world watching, but the one quality that will never evade her is her fighting spirit. Under far from ideal cir...
American No 4 seed beats Belinda Bencic 6-3, 1-6, 6-3 in quarter-final Gauff next faces 13th seed Karolína Muchová for a place in final Coco Gauff may be struggling with an unfamiliar arm injury, indifferent form and the pressure of attempting to transform her serve with the entire tennis world watching, but the one quality that will never evade her is her fighting spirit. Under far from ideal circumstances, Gauff’s mental toughness continues to guide her through the Miami Open draw and to her best ever result at her hometown tournament. She navigated a path into the semi-finals for the first time in her career with an arduous 6-3, 1-6, 6-3 win over Bencic. Continue reading...