Latest News
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Amadeus will buy French biometrics company Idemia Public Security (Idemia Public Security) for $1.4 billion
Spanish travel technology company Amadeus announced on Wednesday that it would acquire French biometrics firm Idemia Public Security, owned by Advent International. The deal will be done in cash and is worth 1.2 billion euro ($1.40 billion). Amadeus operates the largest travel booking system in the world. The company described the acquisition of the border checkpoints and airports as an immediate earnings-accretive move. They expect it to boost the firm's growth at both the border checkpoints and airports, while also enhancing its global presence. It said that the combination of "the two businesses" should increase Amadeus total addressable market or revenue opportunity to 50 billion Euros from 41 billion. Bernstein analysts wrote in a note to investors that this acquisition is "potentially a great deal and fits well with Amadeus portfolio". They also added that it will reduce the likelihood of share buybacks during the second half year. Amadeus shares fell 0.65% to 48.9 Euros in the morning trade on Wednesday. The deal is expected to close in mid-2027, and includes an additional potential earning of up 150 million euro on top of the purchase price. Amadeus anticipated that the acquisition would?result?in high single-digit revenue increases with expanding operating margins and provide annual cost savings of 50 mln euros over the medium term. IPS has a global workforce of?around 3300 employees and services more than 600 customers in the public and private sectors. IPS is not only involved in passenger processing but also works with other regulated environments, such as government-grade biometric data and identification solutions and access control.
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GKN Aerospace's Melrose owner sees a jump in quarterly revenue; warns of freight-cost inflation
Melrose Industries, the owner of GKN Aerospace, reported a 11% increase in revenue for its first quarter on Wednesday. This was largely due to?the strong performance by wide-body aircraft, engines and?its repair and military businesses. The company, which provides?engine?and?airframe components to civil & defence customers, has said that it is experiencing some inflationary pressure due to higher freight costs. It does not have any operations in the Middle East, and it only has a minimal exposure directly through its supply chain. Since the?U.S. Airstrikes by Israel and the United States on Iran started late in February. Iran also closed down or nearly closed off the Strait of Hormuz - a major chokepoint for energy supplies. Melrose, a supplier of parts to Boeing and Airbus aircraft, warned about the 'potential impact on civil flying hours due to reduced jet fuel supply and higher prices. Analysts expect the conflict in the Middle East to be the main driver of the aerospace supplier's stock price. Since the Iran conflict began, its stock price has dropped 16%. The efforts to end the Iran conflict reached a'stalemate' on Tuesday as U.S. president Donald Trump was unhappy with Tehran’s latest proposal. The company confirmed its outlook for 2026. It expects revenue between $3.75 billion and $3.95 billion, with an adjusted operating profit between 700 million to 750 million pounds. Brokerage - RBC Europe stated that it continues to see "an attractive structural growth story despite near term worries about the Middle East."
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Germany seeks alternative sources of oil as it reassures about its supply
Brandenburg said that up to 80% of crude supplies for 'Germany's PCK Schwedt refining plant are guaranteed in May. Germany is seeking alternatives to replace lost supplies following Russia's announcement to stop deliveries via the Druzhba pipeline on May 1. Dietmar W. Woidke, the state premier, said on Wednesday that "PCK's capability utilisation is stable. Crude oil supplies are secured up to 80% by May.?And jobs are protected." Woidke said that the situation allowed him to be optimistic about the future. He added that German officials worked with partners to find a solution for the refinery which supplies parts of Poland and northeastern Germany. Frank Wetzel (state secretary of Germany's Economy and Energy Ministry) said after the meeting that "the German government is working closely with PCK in order to replace lost crude oils supplies through alternative sources." He said that he would discuss how to quickly secure additional supplies via Gdansk, the Polish port city located on the Baltic Sea. The 'Polish energy ministry' said Tuesday that it has the technical capability to handle these deliveries. Any potential increase in volume depends on operational, logistical, and market factors. Last year, Kazakhstan exported a total of?2.146 metric tons of oil to Germany through the Russian pipeline, which is a 44% increase from 2024. This figure will rise to 730,000 tons by the first quarter 2026. (Reporting and editing by Thomas Seythal, Madeline Chambers)
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Amadeus will buy French biometrics company Idemia for €1.2 billion
Amadeus, a Spanish travel technology company, announced on Wednesday that it would acquire the French biometrics firm Idemia Public Security. The company is owned by private equity Advent International and will be acquired for 1.2 billion euro ($1.40 billion), in an all cash deal. Amadeus operates the largest travel booking system in the world. The company described the acquisition of the firm as an immediate earnings-adding move, expecting it to increase its growth at airports and border checkpoints, while also enhancing Amadeus' global presence. It said that the combination of Amadeus and the two businesses would increase Amadeus total revenue opportunity to 50 billion Euros from '41 billion. The deal will be closed in mid-2027, and it could include a bonus of up to EUR 150 million. Amadeus anticipated that the acquisition would result in a high-single-digit revenue increase with expanding operating margins and provide annual cost synergies up to 50 million euros over the medium term. IPS has around 3,300 employees worldwide, and it serves?more? than 600 customers in the public and private sectors. IPS also works in other regulated environments, such as government-grade biometric identifiers and data solutions.
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Jet2 UK warns that summer bookings will be slower due to the Middle East conflict.
Jet2, a British 'travel company,' warned Wednesday that the 'uncertainty about the war is limiting their outlook for seat occupancy during the peak summer travel season. Bookings have slowed down from February levels. Summer bookings are up 7.7% compared to a year ago, according to the company. This is less than the 8% increase in bookings reported in February. Due to the Middle East conflict, the?aviation industry and leisure travel has been under pressure. Jet fuel shortages have resulted from the Strait of Hormuz blockade and cancellations of customers are on the rise. Jet2, UK's third largest?airline said that customers have been booking their vacations earlier since the beginning of the conflict. The company stated that the Q1 combined average load factor (April, may, and June) is on par with last year. However, the current geopolitical uncertainties are limiting the visibility of the summer peak season. The company said that it hedged 87% of the summer jet fuel requirement due to the 'jet fuel crisis' and expects an annual operating profit in line with the market expectations by March 31, 2026. JPMorgan analyst Harry Gowers noted that Jet2's prices could be weaker than prior trends in the summer as the company stated it is committed to "attractive pricing". Shares of the holiday package provider fell by as much as 8,41%, to 980 pence before recovering and rising 0.5%. (Reporting and editing by Rashmi aich in Bengaluru, Simone Lobo is Bengaluru)
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Investors weigh the Iran stalemate and UAE OPEC withdrawal as they consider major Gulf markets.
Investors reacted positively to the United Arab Emirates decision to leave OPEC and the stalemate of the 'Iran conflict. The United Arab Emirates announced on Tuesday that it would leave OPEC, dealing a major blow to the alliance. The UAE is one of OPEC’s biggest producers. Its departure will weaken the group’s grip on the global oil?supply, and further its rift with Saudi Arabia. In Abu Dhabi, the share index rose 0.8%. This was boosted by a rally of companies linked to the oil giant?Abu Dhabi National Oil Company. ADNOC Drilling grew by 8.3%. ADNOC Gas grew by 3.1%. ADNOC Logistics & Services jumped by 6.8%. ADNOC Logistics & Services jumped 6.8%. Speculations that the UAE might leave OPEC have been circulating for many years. It can be profitable during prolonged periods of low oil prices because it has vast reserves and one of the lowest production costs in the world. Americana Restaurants International, on the other hand, rose 12.9% a day after it reported a sharp rise in its first-quarter profits. Dubai's main stock index rose 0.2% with the top lender Emirates NBD increasing by 1.1% and toll operator Salik rising 1.2%. Saudi Arabia's benchmark Index rose by 0.1%. This was largely due to a 2.4% increase in Saudi Telecom Company after the company reported an increase in quarterly profits. Saudi Aramco, the world's largest oil company, fell 0.2%. The Qatari Index edged up 0.1% in a volatile trade. A U.S. official said that President Donald Trump was not happy with Tehran's proposal to end this conflict. He insisted on addressing nuclear issues from the start. Separately, The Wall Street Journal reported Tuesday, citing U.S. official, that Trump had instructed aides in preparation for a long-term blockade against Iran. (Reporting from Ateeq Sharif in Bengaluru, editing by Toby Chopra.)
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Russia hits hospital in Ukraine's South after attacking port infrastructure
Officials from Ukraine said that Russia used drones to attack port infrastructures in the southern region of 'Odesa' in Ukraine. The strikes also damaged residential structures and a hospital, and two people were injured. Oleh Kiper of the Regional Governor Oleh Kiper wrote on Telegram that the attack in southern Odesa destroyed the Admissions Department of a Hospital there and severely damaged other parts of the facility. He said that at the time of attack, the medical staff and patients were housed in a shelter. They were then'moved' to another facility. The regional prosecutor said that port infrastructure was attacked, but did not give any details. Two people were injured in fires that broke out in a residential neighborhood, according to emergency services. They posted photos of fire-ravaged buildings and firefighters fighting the flames. Kiper also said that there was a fire at the Danube Biosphere Reserve in the region. Odesa, which is home to major Ukrainian seaports on the Danube and river ports, has been repeatedly targeted by Russian airstrikes during the?more than four-year war. Ukraine's Air Force said that Russia launched 171 drones against the country since Monday evening. Air defence units neutralised or downed 154 drones. Local officials reported that a drone and missile attack in northeastern Sumy caused a large fire in a residential neighborhood.
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New York Times Business News - April 29, 2019
These are the most popular stories from 'the New York Times' business pages. These'stories' have not been verified and we cannot vouch for their accuracy. The?U.S. Federal Communications Commission ordered an early license?review of the network's television stations after a joke made by late-night host Jimmy Kimmel led to calls from the White House that ABC fire the comedian. Federal Communications Commission ordered a license review of the network's TV stations. Pernod Ricard & Brown-Forman announced that they had ended their merger talks because the French spirits firm and 'the Kentucky-based owner Jack Daniels'?whiskey couldn't?agree on terms. The U.S. Supreme Court faced a case that has broad implications for the human rights litigation in American courtrooms, a longstanding lawsuit brought by members of Falun Gong's spiritual movement. They accused Cisco Systems of facilitating persecution of religious beliefs in?China. The Port Authority of New York & New Jersey has announced that it will install trackers in its rescue vehicles at three of its major airports. This comes after investigators criticized the agency for failing to 'install recommended devices' on a firetruck during a fatal collision with a plane at LaGuardia Airport. (Compiled by Bengaluru Newsroom)
US and Iran agree on truce but demands of enemies remain unresolved
The United States, Iran and Pakistan agreed to a ceasefire for two weeks, mediated by Pakistan. This ended a six-week war which has claimed thousands of lives, spread throughout the Middle East, and disrupted?the energy supply around the world in a way that was unprecedented.
The streets were filled with relief and the world's financial markets were elated when President Donald Trump announced his agreement late Tuesday night, just two hours before the deadline he had set for Iran to reopen the Strait of Hormuz or face destruction of their "whole civilization".
Both sides declared victory. Their main disputes remain unresolved. Washington and Tehran continue to make competing demands in order to reach a possible peace deal which could have a lasting impact on the Middle East.
Shehbaz sharif, the Pakistani prime minister, said that he invited Iranian and U.S. delegations to meet at Islamabad this Friday for the first official talks on peace since the beginning of the war. The president of Iran confirmed his attendance.
JD Vance of the United States, who is seen as a potential leader of an American delegation said that Trump had instructed negotiators in order to reach an accord, but did not confirm a time or location for talks.
IRAN'S RULE ESTABLISHMENT SUVIVES
Trump said that the ceasefire was contingent on Iran agreeing to pause their blockade against oil and gas flowing through the strait. Abbas Araqchi said that although ships had not yet begun crossing the waterway by Wednesday afternoon. Iran's foreign minister would stop counter-attacks, and allow safe passage, if attacks on it stopped.
The Strait is responsible for about one fifth of all global oil and LNG shipments. The news of the deal and the prospect that this worst disruption to global energy markets could finally be over caused oil prices to plummet and share markets all around the world surge.
Overnight, Iranians celebrated by waving Iranian and American flags while burning Israeli and US flags. There was also apprehension that the deal might not be successful.
"Israel won't allow diplomacy work, and Trump could change his mind tomorrow." Alireza, a 29-year-old government employee from Tehran, said by phone that we could sleep without any strikes. The ceasefire suspends a war that was launched by?Trump on February 28, along with Israeli Prime Minister Benjamin Netanyahu. They had stated their intention to stop Iran from projecting its force beyond its border, to end its nuclear program, and to create conditions for Iranians topple their leaders.
Trump told the French agency?AFP the ceasefire was a "total victory". He also said on Truth Social the U.S. achieved its military goals.
The war has not yet deprived Iran of its near-weapon-grade, highly enriched uranium stockpile or its ability of hitting its neighbours using missiles and drones. The clerical leaders, who faced a mass revolt months ago, have resisted the superpower's onslaught without any sign of internal opposition.
The power dynamics in the Gulf could be reshaped for years by Tehran's ability to cut off Gulf oil supplies, despite decades of U.S. military buildup across the region.
In a recent statement, Iran's Supreme National Security Council stated that the enemy had suffered a historic, crushing and undeniable defeat in its illegal, unjust and criminal war on the Iranian people.
Netanyahu's office stated that Israel supported the decision of suspending strikes against Iran for a period of two weeks. The agreement will likely be seen by many as a setback for Netanyahu, who has repeatedly stated that he wants Iran's leaders to fall.
"There's never been a worse diplomatic disaster in our history," said Yair Lapid, an opposition politician. Former Israeli military deputy chief Yair Golan called the result a "complete fail that threatened Israel's safety".
The nuclear program was not destroyed. The ballistic threat is still there. He wrote that the regime was still intact, and even emerged stronger from 'this war.
ISRAEL CONTINUES TO ATTACK LEBANON
Shipping companies said that they needed more assurances about safety before setting sail. Maersk, a container shipper, said that any decision to transit through the Strait of Hormuz would be based on "continuous risk assessment, close monitoring of security conditions, and available advice from relevant authorities and partner."
The agreement didn't stop Israel's parallel war in Lebanon. It invaded the country in March to pursue Hezbollah, a militia that is aligned with Iran.
NNA, the state-run news agency in Lebanon, reported on continued Israeli attacks across southern Lebanon. This included artillery bombardment and an air strike at dawn that targeted a building near a medical facility. Four people were killed. Israel's military warned residents repeatedly that they planned to attack Tyre, a city in southern Lebanon.
Senior Lebanese officials said that Lebanon did not know if it was included in the ceasefire and was not involved in discussions.
Peace talks will start in Islamabad on Friday as announced. The main demands of both sides are still unresolved. Washington's demands are outlined in a 15 point plan. Iran has responded with its own 10-point plan.
In a tweet posted overnight, Trump acknowledged that he had received the Iranian plan. He called it "a good basis for negotiations" and Iran's security council said this amounted?to accepting its terms on principle. These include lifting all sanctions and compensating Iran for damages, as well as allowing it to control the Strait.
A senior Trump administration official told an Israeli official that the Trump administration had promised to insist on the previous conditions. These included the removal of Iran’s nuclear material, the halting of enrichment, and the elimination or ballistic missiles.
Hossein Shariatmadari is the editor-in chief of Kayhan, the newspaper associated with the late Ayatollah Ayatollah Khamenei. In an editorial he said that "compromise, negotiation and gifting the enemy are gifts".
(source: Reuters)