Cash-strapped Indian airline Go First Airways filed for insolvency proceedings with the National Company Law Tribunal on Tuesday, blaming Pratt & Whitney engines for the grounding of about half its fleet. The insolvency filing marks the first major airline collapse in the country since Jet Airways filed for bankruptcy in 2019, and underscores the fierce… Continue reading India’s Go First Airways files for insolvency proceedings
Category: Automotive
Vietnamese PE Mekong Capital eyes $150m for debut impact fund
Vietnam-based private equity firm Mekong Capital is seeking to raise at least $150 million for its debut impact investment fund that will target companies helping to combat climate change, according to a report by Private Equity International (PEI). The fund will have a hard cap of $200 million, PEI reported citing a source. DealStreetAsia has reached… Continue reading Vietnamese PE Mekong Capital eyes $150m for debut impact fund
Proterra Asia, Pernod Ricard invest in SG-based ecoSPIRITS
Singapore-based startup ecoSPIRITS, the developer of a low-carbon, low-waste distribution technology for premium spirits and wine, has raised about $8 million in fresh funding, according to regulatory filings. The financing, which marks the startup’s Series A round, was led by New York-based investment firm Closed Loop Partners, according to filings with Singapore’s Accounting and Corporate… Continue reading Proterra Asia, Pernod Ricard invest in SG-based ecoSPIRITS
EU, US warn Malaysia of security risk in Huawei’s bid for 5G role
The European Union and U.S. have warned Malaysia over risks to national security and foreign investment as it finalises a review of its 5G rollout that could allow China’s Huawei Technologies Co Ltd to bid for a role in its telecoms infrastructure, the Financial Times reported on Tuesday. EU and U.S. envoys to Malaysia wrote… Continue reading EU, US warn Malaysia of security risk in Huawei’s bid for 5G role
HSBC soothes shareholders with restored dividend as profit triples
HSBC Holdings’ profit tripled in the first quarter, beating expectations, as rising interest rates boosted its income and helped the lender pay its first quarterly dividend since 2019. The strong results reported by HSBC and Asian rival DBS on Tuesday underscore how aggressive policy tightening has lifted profit margins, even though it has also sparked banking sector… Continue reading HSBC soothes shareholders with restored dividend as profit triples
Valmet Automotive’s Innovation Center creates solutions for the car plant of the future
The Intelligent Manufacturing program is the company’s response to current changes in the automotive industry, which are making the operating environment increasingly complicated and thus forecasting more difficult. Therefore, Valmet Automotive needs increasingly flexible and efficient processes and solutions to ensure the optimal use of the car plant’s capacity. The innovation center plays a key… Continue reading Valmet Automotive’s Innovation Center creates solutions for the car plant of the future
Cummins Reports Record First Quarter 2023 Results
COLUMBUS, IND.–(BUSINESS WIRE)–Cummins Inc. (NYSE: CMI) today reported results for the first quarter of 2023. First quarter revenues of $8.5 billion increased 32 percent from the same quarter in 2022. Sales in North America increased 39 percent and international revenues increased 24 percent due to the addition of Meritor and strong demand across all key… Continue reading Cummins Reports Record First Quarter 2023 Results
How Bluesky should capitalize on its viral success
/ The demand for a Twitter alternative is real — but this team will need to move fast The logo for Bluesky’s AT Protocol.Bluesky Last week, we talked about how BeReal missed its moment. This week, let’s discuss how Bluesky might avoid the same fate. Bluesky, of course, is the decentralized social network that surged… Continue reading How Bluesky should capitalize on its viral success
TransDigm Second Quarter Earnings Report and Conference Call Set for Tuesday, May 9, 2023
CLEVELAND, May 1, 2023 /PRNewswire/ — TransDigm Group Incorporated (NYSE: TDG) today said it will report fiscal 2023 second quarter earnings before the market opens on Tuesday, May 9, 2023. A conference call will follow at 11:00 a.m., Eastern Time. To join the call telephonically, please register for the call here. Once registered, participants will receive… Continue reading TransDigm Second Quarter Earnings Report and Conference Call Set for Tuesday, May 9, 2023
Triman Holdings Rebrands As Blue Raven Solutions
Blue Raven Solutions, which includes Triman Industries and Crestwood Technology Group (CTG), Offers Differentiated, Tech-Enabled Supply Chain Management Solutions Supporting the Global Military Aftermarket MORRISTOWN, N.J., May 1, 2023 /PRNewswire/ — Triman Holdings, LLC, a leader in supply chain management solutions across the global military aftermarket, today announced it has rebranded as Blue Raven Solutions (“Blue… Continue reading Triman Holdings Rebrands As Blue Raven Solutions