Business
Evercore hires defense bankers from Baird to expand coverage
Senior managing directors Jean Stack and John Song join Evercore from Baird to bolster aerospace, defense and government services banking. Move follows broader push to expand sponsors and middle-market coverage.
Gatik secures $200 million Series D as autonomous freight demand accelerates
Autonomous trucking firm Gatik raises $200 million in a Series D round led by Qatar Investment Authority and Koch Disruptive Technologies, citing over $600 million in contracted revenue and 85,000 driverless orders completed.
Private equity owners explore Nemera sale after GLP-1 device demand surge
Astorg and Montagu evaluate exit from drug delivery device maker Nemera, potentially valuing the company at €3 billion. Advisory process to begin in coming months.
Anthropic projects $30T AI market, dwarfing entire tech sector
AI developer Anthropic estimates a $30 trillion total addressable market, more than twelve times the combined revenue of the S&P 1500 tech sector. The claim accompanies aggressive IPO plans, including a potential $100 billion capital raise.
Michigan Broadband to buy Northern Michigan University’s wireless assets for $21M
Deal includes 2.5 GHz spectrum covering 41 counties, 70 tower sites, and 7,500 subscribers. Buyer plans 5G upgrades and network expansion.
ZenaTech acquires ESM Software for strategy execution and compliance tools
Deal adds strategy execution, performance management and cybersecurity compliance software to ZenaTech's SaaS portfolio. ESM serves over 8,000 users across government, healthcare and financial services.
Monte Paschi launches unsolicited takeover bid for Banco BPM
Italian lender proposes €25.3 bln deal for Banco BPM and Banca Generali, offering no premium to BPM shareholders while including a 10% uplift for Generali. Board to review offer.
Cycurion reports margin expansion and $54.6M contract
Cycurion announced a $54.6 million contract alongside margin expansion, though further operational details were not immediately available.
Trump administration disputes Kennedy Center renaming violates court ruling
Government argues signage changes comply with prior court guidance while lawmaker seeks injunction to block alterations. Hearing set for Thursday.
FAA mandates Boeing 787 inspections over wing gap concerns
U.S. regulator orders repetitive ultrasonic checks on 17 registered jets after Boeing found shim gaps exceeding engineering limits. Compliance costs estimated at $413,270 for domestic operators.
Anthropic to invest $45 billion in Nscale cloud data center deal
AI firm secures 6-year, 460-megawatt capacity agreement as part of West Virginia campus development. Vera Rubin chips to power operations by 2027.
Madison Air shares surge 10% on $2.25B placement for ebm-papst deal
The NYSE-listed firm will fund a $5 billion acquisition of ebm-papst with a $2.25 billion share sale and $2.8 billion in debt and cash. Shares rose 10% as insiders committed $620 million to the placement.
Honda may delay North American plant amid USMCA uncertainty
Japanese automaker warns trade deal extension is critical for planned eighth assembly plant. Tariffs and retaliatory measures add pressure on supply chains.
Cree LED, Nanolumens settle patent dispute with cross-licensing deal
Agreement resolves infringement claims over LED display components without disclosed financial terms. Both companies to monitor unauthorized use across the supply chain.
Google expands AI platform for law firms with new legal tools
Alphabet's Google Cloud introduces tailored AI capabilities for legal practices, partnering with major firms and integrating with existing legal research platforms. Thomson Reuters also unveils a proprietary large language model for legal use.
U.S. doubles tariffs on Canadian autos to 50%, derailing trade talks
President Trump's 50% levy on Canadian vehicles and parts, effective January 1, 2027, upends summer trade negotiations and raises costs for U.S. automakers reliant on cross-border supply chains.
Revolution Medicines wins FDA approval for pancreatic cancer drug Rasonque
The targeted therapy, priced at $39,800 for a 30-day supply, was cleared via the FDA’s expedited pathway. Shares of Revolution Medicines traded flat after the news.
VW’s Blume says half of planned job cuts must be in Germany
Volkswagen CEO Oliver Blume told staff that roughly half of up to 50,000 additional global layoffs would occur in Germany as part of a cost-cutting drive. The plan aims to slash €10 billion in overheads amid weak China demand and unused capacity.
Apollo, KKR, IFM enter final round for £10bn AB Ports stake
Three global investment firms compete to acquire a majority stake in the UK’s largest port operator, valued at £10 billion. The sale targets a 64% holding currently held by Canadian pension funds.
Pakistan seeks $10 billion U.S. credit line to stabilize economy
Islamabad requests a five-year bilateral facility as economic pressures mount, citing constructive talks with Washington amid improved U.S.-Pakistan ties.
Celsius Resources faces legal disputes over Philippine mining stake
Disputes between Celsius Resources and Equinaire over a 40% stake in Makilala Mining escalate ahead of a 2026 foreclosure auction. Sodor seeks payment for a 60% stake after missing a February 2026 deadline.
ZenaTech buys Boston-based ESM Software to expand SaaS portfolio
The acquisition, ZenaTech’s 13th in its software division, adds strategy execution and compliance tools to its AI-driven productivity platform. Financial terms were not disclosed.
Israeli AI security startup Alice raises $140 million
Funding round led by Apax Digital values Alice at nearly $1 billion as demand grows for AI model protection amid rising misuse concerns.
Uber launches live-streaming for teen rides in U.S. rollout
Feature allows parents to monitor rides in real time via driver phone cameras. Nationwide expansion follows pilot tests in nine cities.
OpenAI to cut AI model supply to Cursor amid dispute with Elon Musk
OpenAI will terminate its AI model supply agreement with Cursor, citing concerns over SpaceX's compliance with terms. The move follows SpaceX's acquisition of Anysphere, the startup behind Cursor.