Spain, Portugal Urge EU Effort on Power Link After Blackout
A planned interconnector with France must be 'urgently completed,' Spanish Energy Minister Sara Aagesen Munoz and her Portuguese counterpart Maria da Graca Carvalho wrote in a letter to EU energy chief Dan Jorgensen. The link operates at just 3% capacity, well below its planned 15% target for 2030, posing a systemic risk to the overall European energy system, they said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Forbes
27 minutes ago
- Forbes
NFL Great J.J. Watt Enjoys Honeymoon Period As Espanyol Shareholder
Dawn is breaking at Espanyol in Spain's La Liga. Fans of the Parakeets, a team less followed and with more grounded aims than local colossus Barcelona, hope it won't be a false one. Meanwhile, ex-defensive end J.J. Watt has a role to play. Now turning his attention towards being an NFL game analyst this coming season at CBS Sports, dissecting a game he knows inside out, Watt got a first taste of another new role—in soccer—last weekend. The 36-year-old looked on from the stands, fists pumping, as Espanyol fought back to beat Atlético Madrid in the surprise result from the opening matchday. The former Houston Texans player is a shareholder of Velocity Sports Limited (VSL), an investment branch of ALK Capital, which is led by U.S. managing partner Alan Pace. VSL acquired Espanyol from the Rastar Group, controlled by the Chinese businessman Chen Yensheng, for a reported €130 million ($152 million) in July (though Rastar retains some input). VSL also controls Premier League club Burnley. Much optimism surrounds Watt's arrival. El Mundo has gone as far as calling him Espanyol's new idol (Spanish). Much of that is down to the American ingratiating himself after saying a couple of phrases in Catalan, enjoying a beer with supporters outside the stadium, and getting behind the players inside it. Watt says he can't return there until February because of work commitments on Sundays, yet it's already a shift from the previous owners, who were rarely present and oversaw two relegations despite initially eyeing a place in the Champions League. Is The Future Bright For Espanyol? There's a peculiarity with ownership in soccer today. Many, even those who attend every fixture or know their side's history back to front, will understand that a foreign executive arriving on the scene doesn't. But if they stay involved, not least by investing in the squad, that's good enough. Very much the face of VSL in Espanyol right now, Watt has made a good impression. Then again, it's the honeymoon period, and at a club whose main target will still be avoiding demotion to the second division. How Espanyol does under U.S. guidance in the long term is what matters. It's worth noting that while Burnley and Espanyol are part of the same investment group, and therefore could be deemed part of the growing multi-club ownership model, the Spanish entity stressed that each will remain independent. Still, when interests are diversified, does Espanyol become the priority, or is that consolidating Burnley's place in the Premier League? Then, there's a cultural angle; Watt may have donned the blue and white scarf, but VSL is adapting to a different division in a different country, and everything that entails. U.S. Links To Spanish Soccer Are Tightening Of course, U.S. majority ownership in European soccer—Spain in this instance—is nothing new. Notably, top-tier Mallorca has former tennis player Andy Kohlberg at the top, while Leganés—relegated to the Segunda in 2024/25—is led by Blue Crow Sports CEO Jeff Luhnow. All the while, the Spanish soccer federation (RFEF) has approved controversial plans to host a first La Liga game on U.S. soil (Miami) this December. As the games and seasons progress, with Espanyol set on taking more scalps after the fast start against Atlético, it will become clearer whether the Catalans benefit from their end of the deal. At least the initial signs are promising.
Yahoo
2 hours ago
- Yahoo
MySize Credits Percentil Acquisition for Q2 Revenue Bump
Fashion technology company MySize said its acquisition of Spanish secondhand fashion marketplace Percentil helped the company achieve an increase in revenue for the second quarter of 2025. In the company's earnings report, MySize reported a 2 percent increase in revenue year-over-year for the three months ending June 30, bringing in $2 million. But its revenue for the six months ending June 30 was down year-over-year by 30 percent to $3.5 million, which MySize attributed to a decrease in sales for its fashion and equipment e-commerce division, Orgad, due to market changes. More from Sourcing Journal Impact and Profit Go Hand-in-Hand, ThredUp Impact Report Finds One in Five UK Consumers May Stop Shopping Online Over Cyberattacks This is What Trump's New AI Action Plan Says About American Jobs and Manufacturing Gross profit over the three-month period was up 14 percent to $1.1 million year-over-year, but down 30 percent for the six-month period to $1.5 million. MySize reported an operating loss of $586,000 for the second quarter, a 49 percent improvement from the same period in 2024. For the first two quarters combined, operating losses were $1.6 million, a 25 percent improvement over the same time last year. MySize's cash position sits at $4.28 million as of June 30, with $2.90 million in inventory. Percentil contributed $180,000 in revenue since its acquisition in May. And MySize said that it believes Percentil will continue to push the company forward, due to its operation in Spain and across Europe, directly in the path of the EU's Circular Economy Action Plan and Extended Producer Responsibility for textiles. With legislation forcing brands to manage the full lifecycle of their products, including take-back, recycling and repair, the Percentil acquisition provides a ready-made platform for compliance. 'We are focused on building long-term value while delivering operational progress each quarter,' said Ronen Luzon, founder and CEO of MySize. 'The EU is rewriting fashion's rulebook. Percentil is designed to help brands comply with these new standards and unlock new opportunities for growth.' Percentil's platform includes AI-powered product matching, garment grading and logistics integration that Luzon said will better position MySize to take advantage of the changing circularity landscape in fashion. 'Some companies see regulation as a hurdle. We see it as the competitive advantage,' Luzon said. 'In five years, we believe European fashion resale will not be a niche—it will be the infrastructure of the industry. We intend Percentil to be at the center of that infrastructure, enabling brands to comply, delight customers, and operate profitably in a circular economy.' MySize acquired Percentil in May for around 610,000 euros (approximately $679,000), and at the time, the company said it expected the Percentil business to generate $1.5 million in revenue during the second half of 2025. That would represent a a projected 25 percent increase to the company's total revenue. The company said it still expects Percentil's contributions to accelerate during the second half of this year, driven by brand partnerships and regulatory compliance demand. MySize recently transitioned fulfillment for its Orgad division to Fulfillment by Amazon, which lowered logistics costs and improved delivery efficiency. The company said that plays directly into its three-segment strategy of SaaS sizing solutions (MySizeID and NaizFit), fashion and equipment e-commerce (Orgad) and apparel resale (Percentil). Looking forward, MySize said its triple-revenue model will allow it to create operational synergies and recurring cash flow that it will need to be successful for the remainder of this year and beyond. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 hours ago
- Yahoo
enCore Energy Corp. Announces Proposed Offering of $75 Million of Convertible Senior Notes Due 2030
NASDAQ:EUTSXV:EU DALLAS, Aug. 19, 2025 /CNW/ - enCore Energy Corp. (NASDAQ: EU) (TSXV: EU) (the "Company" or "enCore"), America's Clean Energy Company™, announced today that it intends to offer, subject to market and other conditions, $75 million in aggregate principal amount of convertible senior notes due 2030 (the "Convertible Notes") in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). In connection with the offering of the Convertible Notes, enCore expects to grant the initial purchasers of the Convertible Notes a 13-day right to purchase up to an additional $11.25 million aggregate principal amount of Convertible Notes. The Convertible Notes will be senior unsecured obligations of enCore, will bear interest payable semi-annually in arrears and will mature on August 15, 2030, unless earlier repurchased, redeemed or converted in accordance with their terms. Holders will have the right to convert their Convertible Notes in certain circumstances and during specified periods. The Company will settle conversions either in cash, common shares or in a combination of cash and common shares. enCore may redeem for cash all or any portion of the Convertible Notes, at its option, at any time, and from time to time, on or after August 21, 2028, and on or before the 40th scheduled trading day immediately before the maturity date, if the last reported sale price per common share exceeds 130% of the conversion price for a specified period of time. In addition, the Convertible Notes will be redeemable, in whole and not in part, at enCore's option at any time in connection with certain changes in tax law. The redemption price will be equal to 100% of the principal amount of the Convertible Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. The interest rate, initial conversion rate and other terms of the Convertible Notes will be determined at the time of the pricing of the offering. enCore intends to use a portion of the net proceeds from the offering of the Convertible Notes to pay the cost of entering into capped call transactions in connection with the Convertible Notes. The Company intends to use the remainder of the net proceeds from the Convertible Notes offering to repay amounts outstanding under its loan agreement and for general corporate purposes. If the initial purchasers exercise their option to purchase additional Convertible Notes, enCore intends to use a portion of the additional net proceeds to pay the cost of entering into additional capped call transactions and the remainder of net proceeds for general corporate purposes. The capped call transactions would be privately negotiated with certain financial institutions (the "option counterparties"). The capped call transactions are expected to cover, subject to anti-dilution adjustments, the number of common shares initially underlying the Convertible Notes, including any additional Convertible Notes issuable upon exercise of the initial purchasers' option to purchase additional Convertible Notes. The capped call transactions are expected generally to reduce the potential dilution to enCore's common shares upon any conversion of the Convertible Notes and/or offset any cash payments enCore is required to make in excess of the principal amount of converted Convertible Notes, as the case may be, with such reduction and/or offset subject to a cap. In connection with establishing their initial hedges of the capped call transactions, the option counterparties or their respective affiliates expect to enter into various derivative transactions with respect to enCore's common shares and/or purchase common shares concurrently with or shortly after the pricing of the Convertible Notes. This activity could increase (or reduce the size of any decrease in) the market price of the Company's common shares or the Convertible Notes at that time. In addition, the option counterparties or their respective affiliates expect to modify their hedge positions by entering into or unwinding various derivatives with respect to enCore's common shares and/or purchasing or selling enCore's common shares or other securities following the pricing of the Convertible Notes and prior to the maturity of the Convertible Notes (and are likely to do so during the observation period related to any conversions of the Convertible Notes on or after May 15, 2030, or following early termination of any portion of the capped call transactions in connection with any repurchase, redemption or early conversion of the Convertible Notes). This activity could also cause or avoid an increase or decrease in the market price of enCore's common shares or the Convertible Notes, which could affect the holders' ability to convert the Convertible Notes and, to the extent the activity occurs during any observation period related to a conversion of the Convertible Notes, it could affect the amount of cash and/or the number and value of common shares, if any, that holders will receive upon conversion of the Convertible Notes. The Convertible Notes will be offered only to persons reasonably believed to be "qualified institutional buyers" under Rule 144A of the Securities Act. The Convertible Notes and enCore's common shares issuable upon conversion of the Convertible Notes, if any, have not been and will not be registered under the Securities Act, or any state securities laws, or qualified by way of a prospectus in any province or territory of Canada. As a result, neither the Convertible Notes nor any common shares issuable upon conversion of the Convertible Notes may be offered or sold in the United States except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws, and may not be offered or sold to persons located or resident in Canada except pursuant to an exemption from the prospectus requirements of applicable Canadian securities laws. This news release is neither an offer to sell nor a solicitation of an offer to buy the Convertible Notes or any common shares issuable upon conversion of the Convertible Notes, nor will there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. About enCore Energy Corp. enCore Energy Corp., America's Clean Energy Company™, is committed to providing clean, reliable, and affordable fuel for nuclear energy as the only United States uranium company with multiple Central Processing Plants in operation. The enCore team is led by industry experts with extensive knowledge and experience in all aspects of ISR uranium operations and the nuclear fuel cycle. enCore solely utilizes ISR for uranium extraction, a well-known and proven technology co-developed by the leaders at enCore Energy. Following upon enCore's demonstrated success in South Texas, future projects in enCore's planned project pipeline include the Dewey-Burdock project in South Dakota and the Gas Hills project in Wyoming. The Company holds other assets including non-core assets and proprietary databases. enCore is committed to working with local communities and indigenous governments to create positive impact from corporate developments. Cautionary Note Regarding Forward Looking Statements Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Any statements contained in this press release that are not based on historical facts, including statements about the offering, the intended use of proceeds, the terms of the Convertible Notes, the capped call transactions, third parties entering into or unwinding derivative transactions with respect to the Company's common shares and/or purchasing or selling the Company's common shares, and the potential impact of the foregoing on dilution to enCore's shareholders or the offset of any cash payments enCore is required to make in excess of the principal amount of converted Convertible Notes, the market price of the Company's common shares or the Convertible Notes or the initial conversion price of the Convertible Notes, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and Canadian securities laws that are based on management's current expectations, assumptions and beliefs. Forward-looking statements can often be identified by such words as "will", "expects", "plans", "believes", "intends", "estimates", "projects", "continue", "potential", and similar expressions or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results "may", "could", or "will" be taken. These forward-looking statements are predictions reflecting the best judgment of senior management and reflect our current expectations regarding the offering, the intended use of proceeds, the terms of the Convertible Notes, the capped call transactions, third parties entering into or unwinding derivative transactions with respect to enCore's common shares and/or purchasing or selling the Company's common shares, and the potential impact of the foregoing on dilution to enCore's shareholders or the offset of any cash payments enCore is required to make in excess of the principal amount of converted Convertible Notes, the market price of enCore's common shares or the Convertible Notes or the initial conversion price of the Convertible Notes. These expectations may or may not be realized. Some of these expectations may be based on beliefs, assumptions or predictions that may prove to be incorrect. In addition, our business and operations involve numerous risks and uncertainties, many of which are beyond our control, which could result in our expectations not being realized or otherwise materially affect our business, financial condition, results of operations, cash flows and liquidity. Such risks and uncertainties include, but are not limited to, the risks related to whether enCore will consummate the offering of the Convertible Notes on the expected terms or at all, the anticipated terms of, and the effects of entering into, the capped call transactions, third parties entering into or unwinding derivative transactions with respect to enCore's common shares and/or purchasing or selling enCore's common shares, market and general conditions, and those described in greater detail in our filings with the Securities and Exchange Commission, particularly those described in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Should one or more of these risks materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company assumes no obligation to update the information in this communication, except as required by law. Additional information identifying risks and uncertainties is contained in filings by the Company with the respective securities commissions which are available online at and Forward-looking statements are provided for the purpose of providing information about the current expectations, beliefs and plans of management. Such statements may not be appropriate for other purposes and readers should not place undue reliance on these forward-looking statements, that speak only as of the date hereof, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. View original content to download multimedia: SOURCE enCore Energy Corp. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
