Legence Shares Rise After Volatile IPO Debut Backed by Blackstone Shares of Legence, the Blackstone-backed engineering and maintenance services provider, saw a volatile debut in New York trading on Friday. The stock initially opened below its $28 offer price but later rebounded, closing at $30.50. This gave the San Jose-based company a market value of about $3.2 billion, according to earlier filings. Legence’s shares climbed as much as 12% above the IPO price during the session. The performance came after the company raised $728 million on Thursday by selling 26 million shares at $28 each, priced within the marketed range…
Author: Kanika Sharma
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Britain and US to Seal Nuclear Power Pact During Trump Visit Britain and the US are set to sign a major agreement on nuclear power during US President Donald Trump’s upcoming visit. The deal, confirmed by the British government, is expected to boost collaboration between the two nations on developing new nuclear energy projects. This agreement also aims to encourage investment in nuclear plants across the UK. The UK has increased its focus on nuclear power recently. As part of this push, the government has committed £14 billion to the new Sizewell C nuclear plant. It is also supporting a…
Oracle Shares Dip After Record AI Surge Despite Strong Cloud Momentum Oracle Corporation (ORCL.N) saw a drop in its share price on Thursday, following a historic surge driven by artificial intelligence-related gains the day before. This recent rally brought the company closer to the trillion-dollar valuation mark and placed co-founder Larry Ellison near the top of the world’s wealth rankings. AI-Driven Growth Fuels Market Buzz The software giant has recently secured several multi-billion-dollar cloud computing deals, boosting investor confidence. These deals reflect the growing demand for computing power, as companies worldwide race to dominate in AI technologies. On Wednesday, Oracle’s…
Gerbera Drone: What We Know About Russia’s Low-Cost UAV Spotted in Poland A suspected Russian drone incursion into Polish airspace on Wednesday has raised serious concerns across NATO. According to a Polish army official, the incident involved the use of Gerbera drones—low-cost, long-range unmanned aerial vehicles developed by Russia. The event marked a troubling moment, as the war in Ukraine appeared to extend onto NATO territory. What Is the Gerbera Drone? The Gerbera drone is designed for affordability and range. Ukrainian intelligence reports that it is made from simple materials such as plywood and foam. These drones are assembled at…
FAA Warns Airlines About Lithium Battery Fire Risks The US Federal Aviation Administration (FAA) has issued a safety alert to airlines, warning of the growing dangers posed by lithium batteries in passenger compartments. The alert comes after a surge in serious incidents involving smoke, fire, or extreme heat from these batteries. Airlines Urged to Strengthen Safety Measures In its alert, the FAA recommended that airlines implement strong risk-reduction measures. These include providing clear instructions to passengers and crew about the fire risks linked to lithium batteries. The agency also called for a thorough review of onboard fire response training and…
Shipping’s Shift to Alternative Fuels Set to Accelerate After 2030 The global shipping industry is expected to ramp up its use of alternative fuels significantly after 2030, driven by stricter emissions rules. While the transition remains uneven today due to trade and political uncertainty, industry leaders at the APPEC conference in Singapore on Tuesday said the long-term outlook is more promising. Over the next five years, adoption of low-carbon fuels is likely to be cautious. However, the decade between 2030 and 2040 is forecast to bring a substantial increase in usage. “This is where we’re going to see the real…
FAA Yet to Decide on Lifting Boeing 737 MAX Production Cap The Federal Aviation Administration (FAA) has not yet decided whether to lift the cap on Boeing’s 737 MAX production, which has been limited to 38 aircraft per month since early 2024. FAA Administrator Bryan Bedford said on Monday that while Boeing is making progress, the process must move at a pace guided by safety oversight rather than industry demands. Speaking to reporters in Washington, Bedford explained that the decision will rely on frontline FAA inspectors. “This is going to be a bottom-up process,” he said, adding that no recommendations…
Volkswagen Faces Billions in Losses from US Tariffs Volkswagen, Europe’s largest carmaker, has suffered financial losses worth several billion euros due to ongoing US tariffs. CEO Oliver Blume revealed the impact during an interview at the IAA Munich car show. He stated that the costs have already appeared on this year’s balance sheet, significantly affecting the group’s performance. Porsche, one of Volkswagen’s key brands, is especially vulnerable. According to Blume, it faces pressure from both weak demand in China and high import tariffs in the United States. He described the situation as a “sandwich position,” with both major markets squeezing…
$570 Million Investment Planned for Satellite Infrastructure Amazon plans to roll out its Kuiper satellite broadband services in Vietnam, according to a statement from the Ministry of Science and Technology. The announcement followed a meeting in Hanoi between Deputy Minister Pham Duc Long and Gonzalo de Dios, Amazon’s head of Global Licensing and Project Kuiper. The US tech giant has committed to investing $570 million by 2030. The funds will support infrastructure development, including up to six ground stations and terminal manufacturing facilities. These will be located in the northern province of Bac Ninh through partnerships with local firms. New…
Boeing Moves to Replace Striking Union Workers Boeing Defence has announced plans to hire permanent workers to replace members of the International Association of Machinists and Aerospace Workers (IAM) who are currently on strike in the St. Louis area. These workers assemble munitions, military aircraft, and fighter jets. The move was confirmed in a message sent to employees by Boeing Defence Vice President Dan Gillian on Thursday. “Today, we’re starting the process to hire permanent replacement workers for manufacturing roles,” Gillian said. “This will ensure we’re properly staffed to keep supporting our customers.” Union Pushes for Talks, Not Replacements Union…
