Aircraft lessor Air Lease Corp said on Monday it has received $328.5 million in cash, as part of certain insurance settlements related to its aircraft which were blocked from leaving Russia after the country’s invasion of Ukraine. Before the invasion in early 2022, Russia was a key market for aircraft lessors, who purchased jets from […]
Shares of James Hardie Industries fell sharply in premarket trading Monday after the company said it would acquire outdoor living products maker AZEK in an $8.75 billion deal. Shares of James Hardie fell 11% ahead of the morning bell at $26.00. AZEK’s stock jumped nearly 19% to $49.12 a share. Late Sunday, James Hardie said […]
FuriosaAI, a South Korean AI chip startup, has rejected an $800m acquisition offer from Meta Platforms, in order to remain as an independent company. The latest decision was influenced by differences in business direction and organisational composition, rather than price. FuriosaAI plans to continue its growth trajectory independently to bolster its position in the AI […]
Profit at Geely Automobile Holdings, China’s second-largest carmaker, more than tripled last year on the back of a surge in electric vehicle (EVs) sales and an investment gain from asset disposals. The company’s 2024 profit jumped 213 per cent from a year earlier to 16.6 billion yuan (US$2.3 billion), with sales increasing 34 per cent […]
The dollar climbed on Friday against major peers, including the euro, which was set for its first weekly drop this month, as a busy week for central banks wrapped up and caution remained about the impact of a global trade war. The U.S. dollar index, measured against a basket of six counterparts, was 0.19% higher […]
India’s Manappuram Finance (MNFL.NS) said on Thursday Bain Capital would invest 43.85 billion rupees ($508 million) to acquire an 18% stake in the gold loan provider at a time record prices of the precious metal has made its mortgaging appealing. The asset manager will subscribe to Manappuram’s shares and warrants at 236 rupees apiece, implying […]
Ollie’s Bargain Outlet Holdings (NASDAQ: OLLI) has announced a new $300 million share repurchase authorization effective through March 31, 2029. The company can execute the buyback through open market or privately negotiated transactions. Since initiating its first share buyback in 2019, Ollie’s has repurchased approximately 5.5 million shares worth $414 million. The company maintains a […]
Citigroup paid top executives smaller bonuses last year tied to results of the bank’s turnaround and risk management fixes required by regulators, the bank’s proxy filing on Tuesday showed. The bonuses went to executive management committee members and 250 senior managers considered critical to execute changes required in 2020 by the Federal Reserve and the […]
Bankrupt drugmaker Purdue Pharma filed a new bankruptcy plan on Tuesday, a major step towards finalizing a proposed opioid settlement of at least $7.4 billion after a setback in the U.S. Supreme Court last year. The payments are aimed at resolving thousands of lawsuits alleging that the company’s pain medication OxyContin caused a widespread opioid […]
Chinese data center operator GDS Holdings Ltd. is seeking a $3.4 billion-equivalent loan for its data center operations in Malaysia. The borrowing would be its biggest ever loan. It would also be among the largest financings for the sector by any borrower in Asia. The company’s international arm, DayOne, formerly known as GDS International, is […]