GROUPE ATLANTIC
'Extremely dangerous' Hurricane Beryl intensifies in Caribbean, eyeing Jamaica
Hurricane Beryl intensified to a Category 4 storm with winds up to 155 mph, moving across the southeastern Caribbean on Monday. Jamaica is near its path, prompting a hurricane warning. The storm has caused power outages and flooding in several Caribbean islands. Beryl is expected to bring heavy rain to Barbados and the Windward Islands. Climate change is believed to be intensifying such storms, contributing to an unusually active hurricane season. Jamaica and Mexico are preparing for Beryl's impact, with warnings of potential flash flooding and infrastructure damage.
Hurricane Beryl strengthens into a Category 4 storm as it nears the southeast Caribbean
Beryl was located about 335 miles (570 kilometers) east-southeast of Barbados. It had maximum sustained winds of 130 mph (215 kph) and was moving west at 21 mph (33 kph). It is a compact storm, with hurricane-force winds extending 15 miles (30 kilometers) from its center. Beryl is expected to pass just south of Barbados early Monday and then head into the Caribbean Sea as a major hurricane on a path toward Jamaica.
Pope Francis will be the first pontiff to address a G7 summit. He's raising the alarm about AI
Francis will address G7 leaders on Friday at their annual gathering in southern Italy - a first for a pope. He intends to use the occasion to join the chorus of countries and global bodies pushing for stronger guardrails on AI following the boom in generative artificial intelligence kickstarted by OpenAI's ChatGPT chatbot.
How China rose to lead the world in cars and solar panels
Heavy subsidies for industry, together with weak sales in China, have set the stage for an export boom, raising fears of factory job losses elsewhere
Byju's processes employees' May salaries from business collections
BYJU'S processed employees' May salaries from business collections. Salaries paid from company's collections, highlighting financial health and debt-raising challenges. Company raised debts, implemented strategic initiatives. Investors, including Prosus, General Atlantic, Sofina, Peak XV, Tiger, Owl Ventures, approached NCLT Bengaluru.
Google's AI search leaves publishers scrambling
The New York Times article discusses concerns from publishing executives like Frank Pine regarding Google's AI-generated summaries, emphasizing the impact on traffic and the need for direct reader relationships to reduce reliance on search engines.
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General Atlantic Singapore likely to sell up to 6.8% stake in KFin Technologies for Rs 833 crore via block deal: Report
General Atlantic is a part of the promoter group which holds a stake in KFin Technologies. In December, General Atlantic had sold a nearly 10% stake in KFin or 1,70,00,000 shares of the company at Rs 500.25 apiece. It made a profit of Rs 851 crore.
Global chips battle intensifies with $81 billion subsidy surge
The concern over China’s rapid advances in key electronics turned into a full-scale panic during the pandemic because chip shortages emphasised the significance of these tiny devices for economic security.
How G7 and EU are weaponising diamonds and carbon
In the wake of the Ukraine war, the West tried every trick in the diplomatic playbook to get India to loosen ties with Russia. After that strategy failed, it is using trade to force New Delhi’s hand
NATO Membership and Defence Spending: Key facts you need to know
Sweden officially became a member of NATO, joining Finland in the alliance's largest expansion since the 1990s. This move comes amid rising tensions with Russia and NATO's efforts to bolster its defences. With 32 member countries, including the UK, US, Canada, France, Germany, Italy, Spain, and Turkey, NATO aims to counter threats from "authoritarian states" like Russia. Ukraine, Bosnia and Herzegovina, and Georgia also aspire to join NATO, highlighting the alliance's role in today's geopolitical landscape.
Vistara’s troubles could be a precursor to larger imminent problems in integration with Air India: Industry experts
The aviation-to-automobile conglomerate would do well to learn lessons from successful and problematic airline mergers across the world as well as how it overcame niggles after its own biggest purchases: Corus and Jaguar Land Rover, experts said.
Mahindra Aerostructures signs $100 mn contract with Airbus Atlantic
Mahindra Aerostructures has signed a $100 million multi-year contract with Airbus Atlantic for manufacturing and delivering metallic components for the Airbus commercial aircraft family, including the A320 family planes. The contract will supply 2,300 metallic components from India's manufacturing base to France.
Exclusive: Chaudhry unlikely to return to steer Byju's-owned Aakash Institute
Aakash Institute, under Byju's, shifts focus from Aakash Chaudhry's return as CEO. Ranjan Pai emerges as the largest investor, with ongoing legal battles and stalled stock-swap. Byju Raveendran and Anup Kumar Agrawal contribute to daily operations.
The Islamic State group claimed the Moscow attack. The Kremlin is still blaming others.
When President Vladimir Putin said "radical Islamists" had carried out the attack, he called it "just an element in a series of attempts of those who have been at war with our country since 2014," an explicit reference to Ukraine and the upheaval that year that led to the illegal annexation of Crimea.
AG&P Pratham, Think Gas set for $1.1-billion merger
The combined entity will be valued at over $1.1 billion, acquiring the heft that will help it compete with rivals. It will be a stock-for-stock merger — a share of one company for each of the other. Currently, I-Squared holds 100% stake in Think Gas Distribution and 73% in AG&P Pratham, the India arm of Singapore-based Atlantic Gulf & Pacific (AG&P) City Gas.
OK Tata: Group m-cap gallops to Rs 30 lakh crore
The Reliance Group, India's most valuable company led by billionaire Mukesh Ambani, currently holds the second position on the market-cap leaderboard - at ₹21.60 lakh crore. The Adani Group, with interests across various infrastructure sectors and capital-intensive commodities, is ranked third, with a combined market value of ₹15.54 lakh crore.
Nebula Energy to buy majority stake in AG&P LNG for $300 mn
Nebula Energy LLC is acquiring a majority stake in AG&P LNG for $300 million, giving it a foothold in the Indian market. Nebula Energy is an investment firm backed by Peter Gibson, Darren DeVore, and Sam Abdalla. AG&P LNG is a subsidiary of AG&P Group, owned by Osaka Gas, JBIC, and Asiya. The acquisition will allow Nebula Energy to expand its network and meet AG&P LNG's capital needs.
General Atlantic set to acquire Amar Ujala's hospital chain Cygnus Healthcare
GA will acquire about 51% stake held by existing investors - Eight Roads Ventures India, Evolvence India Fund and Somerset Indus Healthcare Fund. Besides the secondary transaction, GA will also acquire a small minority stake from the promoters along with a primary stake, sources said.
TBO Tek buys Jumbo's online business to expand global footprint
Gaurav Bhatnagar, co-founder and joint managing director of Tek Travels DMCC, told ET that this acquisition will give the company access to not just Jumbo's clientele but content from across 'prime' destinations in Europe right down to the Caribbean.
General Atlantic sells 10% stake in KFin Technologies for Rs 851 crore
Through separate deals, ICICI Prudential Life Insurance Co, ICICI Prudential Mutual Fund, IIFL Securities, Societe Generale and Unifi Capital have bought shares of KFin Technologies.
General Atlantic likely to sell 6.2% stake in KFin Tech via block deal: Report
The floor price set for the sale is Rs 490, a discount of 8% to the current market price. On Thursday, shares of the company ended 5.6% higher on the National Stock Exchange at Rs 531.80. The offer size is around Rs 515-833 crore, with 90 days of lock-in, and IIFL Securities is the broker to the deal, ETNow reported.
KKR to buy remaining stake in insurer Global Atlantic for $2.7 billion
Private equity firm KKR has served as the manager of Global Atlantic's investment portfolio since 2021 and said in July 2020 that it would buy the annuities and life insurance provider. Global Atlantic's assets under management have grown to $158 billion from $72 billion in 2020, the companies said.
KKR to buy remaining stake in insurer Global Atlantic for $2.7 bln
Global Atlantic's assets under management have grown to $158 billion from $72 billion in 2020, the companies said
First transatlantic flight powered by “sustainable” jet fuel to take off from London Heathrow
Virgin Atlantic’s first transatlantic flight powered entirely by sustainable jet fuel is seen as a crucial step toward reducing carbon emissions in the aviation industry. However, skepticism persists among scientists and environmental groups.
Global South has been willing to recognize its unique needs, shift in wealth from 'North Atlantic' to Asia Pacific: CJI Chandrachud
India's G20 sherpa and former NITI Aayog chief, Amitabh Kant, who also addressed the gathering, said technology has made the lives of its citizens easier and more efficient. He said that India's G20 Presidency gave an opportunity to engage meaningfully with member countries and learn from experiences as well as showcase India's achievements.
An endangered whale species is speeding towards extinction
Conservationists in the US are pushing for federal rule changes to expand speed restrictions for vessels along the East Coast in order to protect the endangered North Atlantic right whales. The species is facing an "unusual mortality event" and could be functionally extinct by 2035. Ship strikes and entanglements with fishing lines are the leading causes of death for the whales, and climate change is exacerbating the situation. The proposed rule changes have faced opposition from conservative lawmakers and industries worried about the impact on small businesses.
Flipkart lining up $20 million for in-house credit marketplace
The investment will be done gradually as the team is working on several products, and the platform is expected to be ready by end-2023 or early next year.
Atlantic City Airshow 2023: See event details, viewing spots, schedule and more
The Atlantic City Airshow 2023 showcases a variety of aerial performances, including antique planes, aerobatics, parachuters and demonstrations of America's military capabilities.
Authentic Brands raises $500 million in funding from General Atlantic
Authentic did not disclose the valuation at which the latest funds were raised, but a report from Bloomberg News earlier said the round valued the Aeropostale owner at $20 billion.
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