Spain's Grid Denies Report It Mishandled Voltage Before Blackout
Red Electrica says it operated the power cable connected to France in line with protocol, in a statement. The grid operator says a full report hasn't been published by the group Entose even though it was cited by local newspaper El Economista.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
11 hours ago
- Yahoo
Transak Raises $16M From IDG Capital, Tether to Scale Stablecoin Payment Network
Web3 payments infrastructure firm Transak has raised $16 million in a strategic funding round co-led by IDG Capital and Tether. The company plans to use the funds to expand its stablecoin payments stack and enter new markets. The funding round comes at a time in which the stablecoin sector has been growing exponentially. DeFiLlama data shows in early 2024 it has a $130 billion market capitalization, which has since more than doubled to $270 billion. Transak says nearly 30% of its more than $2 billion in processed transactions originates from stablecoin flows. The company's CEO and co-founder Sami Start said in a press release shared with CoinDesk that scaling stablecoin adoption requires more than liquidity. 'Stablecoins are no longer just a crypto asset. They are now the rails for global value transfer,' Start said. 'But making them usable at scale requires more than just liquidity,' he added. Tether's participation in the funding round is notable. The company's flagship stablecoin, USDT currently accounts for more than 60% of the total market, DeFiLlama's data shows. The stablecoin issuer has been putting its dominance to use, investing in various ventures including Spanish crypto exchange Bit2Me, Italian football club Juventus, major Latin American producer Adecoagro, blockchain forensics firm Crystal Intelligence, YouTube competitor Rumble, and gold-focused investment firm Elemental Altus. Transak's funding round also saw participation from Primal Capital, 1kx, Protein Capital, Fuel Ventures, and others. The transaction was advised by FT Partners. The company highlighted it holds licenses in multiple jurisdictions, including the United States (FinCEN), United Kingdom (FCA), European Union (VASP), Canada (FINTRAC), Australia (AUSTRAC) and India (FIU-IND).Sign in to access your portfolio
Yahoo
11 hours ago
- Yahoo
Bridger Aerospace Stock Plunges Despite Record Q2 Earnings and Profit
Shares of Bridger Aerospace Group Holdings, Inc. BAER have lost 10.9% since the company reported its earnings for the quarter ended June 30, 2025. This compares unfavorably to the S&P 500 Index's 0.5% gain over the same period. Over the past month, BAER has slipped 2.2%, while the broader market rose 2.1%. BAER's Financial Performance Snapshot Bridger Aerospace delivered its strongest second quarter in company history, with revenue climbing 136.3% year over year to $30.8 million from $13 million. Net income was $0.3 million against a $9.9 million loss a year earlier, and adjusted EBITDA surged to $10.8 million from $0.2 million. Loss per diluted share was $0.12, improving from a loss of $0.33 per share a year earlier. Excluding $5.1 million in revenues from return-to-service work on four Spanish Super Scoopers under its MAB Funding partnership, operational revenue still more than doubled to $25.7 million. The quarter benefited from early and full deployment of the fleet, with both Super Scoopers and surveillance aircraft seeing high utilization. Selling, general and administrative (SG&A) expenses fell 17.4% to $6.5 million from $7.9 million due to lower non-cash stock-based compensation and reduced earnout consideration, while cost of revenues rose 89.5% to $18.7 million from $9.9 million, partly due to $3.9 million in expenses for the Spanish aircraft program. Bridger Aerospace's Other Key Business Metrics Bridger Aerospace achieved 100% fleet deployment in the quarter, marking the earliest call-outs in its history. Two separate 120-day task orders for Super Scoopers from the U.S. Forest Service ensure deployment through mid-October, supporting the company's strategy for year-round revenue. Additionally, BAER dropped 4 million gallons of water across multiple states during the season to date. Cash and cash equivalents stood at $17 million at quarter-end, down from $39.3 million at the end of 2024, largely due to winter maintenance and training expenses. However, $18.3 million in receivables from early fire season activity is expected to boost cash in the coming months. Bridger Aerospace Group Holdings, Inc. Price, Consensus and EPS Surprise Bridger Aerospace Group Holdings, Inc. price-consensus-eps-surprise-chart | Bridger Aerospace Group Holdings, Inc. Quote BAER's Management Commentary CEO Sam Davis credited the performance to early deployments, expanded contracts, and the increasing recognition of the Super Scooper's effectiveness in initial attack operations. Davis noted that all six scoopers operated together in Alaska for the first time under U.S. Forest Service task orders. Management also highlighted ongoing integration of its Ignis Technologies platform with real-time sensor imagery to improve situational awareness for firefighters, and progress on the development of the FF72 firefighting aircraft in partnership with Positive Aviation, targeting a 2029 delivery. Factors Influencing Bridger Aerospace's Headline Numbers Bridger Aerospace's revenue surge was driven by significantly higher activity levels compared to 2024, aided by favorable wildfire conditions, expanded contracts and earlier deployments. While operational gains were strong, higher maintenance costs associated with the return-to-service program for the Spanish Scoopers weighed on margins. Lower SG&A helped offset these pressures, reflecting disciplined cost control. Interest expense remained relatively stable at $5.7 million. The shift to net profitability was primarily attributed to increased fleet utilization and operational leverage. BAER's Guidance Bridger Aerospace reaffirmed expectations to close 2025 at the higher end of its guidance — adjusted EBITDA between $42 million and $48 million on revenue of $105 million to $111 million. Guidance excludes potential contributions from the Spanish Scoopers. Management also anticipates continued improvement in cash flow from operating activities and plans to revisit forecasts after third-quarter results, historically the strongest period due to peak wildfire activity. Bridger Aerospace's Other Developments During the quarter, BAER signed a $46 million sale-leaseback agreement for its Bozeman, MT, campus and hangar facilities, with closing expected in third-quarter 2025. Proceeds will be used to reduce debt and interest expenses while retaining operational use under a 10-year lease. The return-to-service work on the four Spanish Scoopers remains on schedule, with two already certified and potential deployment in Europe under consideration. The remaining two are slated for completion later in 2025 and early 2026. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Bridger Aerospace Group Holdings, Inc. (BAER): Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
CNBC
a day ago
- CNBC
Spain treads a risky path by standing up to Trump on defense and China
Spain's somewhat unique approach to defense and foreign policy is fueling tensions with the Trump administration. The Spanish government recently renounced U.S. aircraft purchases and resisted intense pressure to commit to NATO's new 5% defense spending target, while seeking closer economic ties with China. Taken together, analysts say Spain has become a rare example of a European country willing to draw the ire of U.S. President Donald Trump. Notably, despite Trump threatening a tough trade deal for Spain, the southern European country has not yet faced any material consequences. "Spain is an interesting case in Europe because it is really the only country that is openly antagonizing Trump whereas everybody is trying to keep their head down for the most part," Federico Santi, a senior analyst focused on southern Europe at Eurasia Group, told CNBC by video call. What's particular to Spain, Santi said, was the "distinct weakness" of the country's minority leftist coalition government, which has been embroiled in a series of scandals and corruption investigations. Spanish Prime Minister Pedro Sanchez, who has led the country since 2018, has rebuffed calls from opposition lawmakers to resign. The leader of the Spanish Socialist Workers' Party has instead said he intends to run for re-election in 2027. The opportunity to focus on big-ticket foreign policy issues such as defense, Eurasia Group's Santi said, could help Sanchez to distract the public from his own domestic woes. "Spain has, by and large, gotten away with its fairly outspoken criticism of Trump for two main reasons. Number one, it is in the EU. So, unlike the South Africa's or Brazil's of the world that faced a very direct backlash from Trump in the form of higher tariffs, they are somewhat shielded from that," Santi said. "And the other point I think that works to Sanchez's advantage is that Trump just doesn't seem to be that concerned or aware of Spain as a country. I mean, he's aware of it, but it is not really on his radar," he added. A spokesperson for Spain's government did not respond to a CNBC request for comment. Spain's defense ministry said last week that it was no longer considering the option of buying U.S.-made F-35s, Reuters reported, preferring instead to replace its ageing fighter jet fleet with European military aircraft. The decision to snub Lockheed Martin's fighter jets came after Trump said it was "terrible" that Madrid wouldn't commit to the NATO defense spending target of 5% of gross domestic product by 2035. Speaking at a news conference at NATO's annual summit in the Netherlands in late June, Trump said the Spanish economy "could be blown right out of the water with something bad happening." The U.S. president also threatened to make Spain pay "twice as much" on trade, criticizing Madrid for wanting to take "a little bit of a free ride" on defense. The U.S. and EU, however, have since signed a framework trade agreement that means the 27-nation bloc will face tariffs of 15% on EU goods to the U.S. The EU negotiates trade deals collectively, which means Spain benefits from the collective bargain struck by Brussels. In stark contrast, Switzerland, which is not a member of the EU, has been hit hard by a U.S. tariff rate of 39% on key export products. Ignacio Molina, senior fellow at the Elcano Royal Institute, a think tank in Madrid, said Spain's geographic distance from Russia and the distinct features of its foreign policy stretching back to its last war in 1898, which was against the U.S., means that Madrid views its relationship with Washington as "less vital" than other EU countries. "The dominant political culture in Spain is much more pro-European than Atlanticist. Even with regard to Ukraine (whom Spain strongly supports) Spain's main focus is on its EU accession bid and the reception of refugees, not on its NATO membership or arms deliveries," Molina told CNBC by email. Molina highlighted that Spain-U.S. relations are further complicated by the fact that the Spanish government is the "most ideologically left-leaning" in all of Europe. "This introduces a domestic political temptation to distance itself from Trump, who is extremely unpopular in Spain, including among center-right voters," Molina said. A diplomatic rift between Spain and the U.S. has also been exacerbated by Madrid's pursuit of closer economic ties with Beijing. The U.S. has two military bases in southern Spain, a country that has emerged as one of Europe's most China-friendly governments. Both U.S. and EU officials have recently been critical of Sanchez's decision to award a multi-million-euro contract to Chinese tech giant Huawei for the use of its wiretapping technology. Kristina Kausch, senior fellow at the German Marshall Fund of the U.S., and the think tank's representative in Madrid, said Spain's deepening ties with China had raised eyebrows in the U.S. and parts of Europe. "While this echoes a broader desire in Europe for strategic rebalancing, EU leaders have stressed that such a rebalancing must be based in reciprocity," Kausch said. By resisting U.S. purchasing pressure on defense, Kausch told CNBC that Spain has demonstrated Europe's determination to independently develop military capabilities and industrial capacity. Even with the cover of EU membership, however, Kausch said the approach is not likely to be risk-free. "Spain is giving a voice to concerns that are also shared, to greater or lesser degree, by other EU or NATO allies. It shows leadership, but it is also a big gamble that could backfire on Sanchez personally, on Spain, and on Europe," she added.
