JPMorgan and BofA Stick With CATL Deal Despite US House Opposition
JPMorgan Chase & Co. and Bank of America Corp. have forged ahead working on the blockbuster listing of Contemporary Amperex Technology Co. Ltd. despite a US congressional committee calling for the American lenders to drop out of the deal.
A post-listing-hearing document dated Tuesday and terms of the deal seen by Bloomberg News named the two US banks as joint sponsors, alongside China International Capital Corp. and China Securities International.
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Yahoo
an hour ago
- Yahoo
TRUE MOVEMENT TECH ACQUIRES MANCINO MATS
Expanding U.S. Manufacturing to Build the Future of Active Play SAN DIEGO, June 10, 2025 /PRNewswire/ -- True Movement Tech, a fast-growing leader in sport entertainment innovation and North American manufacturing, today announced the acquisition of Mancino Manufacturing Co., Inc a respected U.S. manufacturer of premium safety padding and equipment for gymnastics, cheer, martial arts, and other sports facilities. This acquisition reinforces True Movement Tech's longstanding commitment to local-first production while expanding its ability to serve movement and play businesses with high-performance, end-to-end solutions. Mancino Mats brings decades of expertise in safety padding, further elevating True Movement Tech's capacity to meet the demands of active environments where safety, durability, and performance are paramount. True Movement Tech President Joe Gram said: Across all sport and play markets, customers are demanding professional and trustworthy service that they can count on throughout the lifetime of their sport business. By joining with Mancino, we are adding a company with decades of experience and success in the safety padding space that - when combined with True Movement Tech's other offerings - allows us to deliver domestically manufactured sport products that are beyond what anyone else is currently capable of. With this latest addition, True Movement Tech now operates six complementary businesses—True Movement Tech, AirTrack™, Superior Trampoline Manufacturing, XR Sports, SDUNITED Training Center, and now Mancino Mats—creating a unified family of design, manufacturing, and installation experts. True Movement Tech is accelerating its mission to shape the future of active play and cementing its role as a trusted leader in the sports entertainment manufacturing industry. ABOUT TRUE MOVEMENT TECH True Movement Tech is a leading manufacturer in the active play and sports entertainment industry, specializing in the design, production, and installation of globally adopted and customer-loved attractions. True Movement Tech first became known when they transformed the trampoline market with their AirTrack Sport Courts and high-design AirBags now universally adopted across the trampoline industry. They have continued to evolve into a proven, reliable partner for business owners and brands from concept to installation to post opening service. True Movement Tech operates six complementary businesses: True Movement Tech, AirTrack™, Superior Trampoline Manufacturing, XR Sports, SDUNITED Training Center, and now Mancino Mats—together forming a global force of manufacturing and design experts. True Movement Tech is headquartered in San Marcos, CA. For more information, please visit: ABOUT MANCINO MATS For over 60 years, Mancino Mats has been a trusted name in American-made safety padding and sports equipment for gymnastics, cheer, martial arts, and athletic facilities. Known for its craftsmanship, product durability, and customer-first service, Mancino has earned the loyalty of coaches, gym owners, and athletic directors across the country. With deep industry expertise and a legacy of innovation, Mancino continues to set the standard for quality and safety in movement-based environments. Now part of the True Movement Tech family, Mancino Mats is proud to help shape the future of active play through expanded capabilities and continued U.S. manufacturing excellence. For more information, please visit: For questions or further inquiries please contact:info@ I 408-569-9504 View original content to download multimedia: SOURCE True Movement Tech Sign in to access your portfolio
The Hill
an hour ago
- The Hill
Trump vs. Musk: Should we laugh or weep?
When you know a couple getting divorced, you might face a dilemma as to whose side to take. Such is not the case in the bitter public breakup between President Trump and Elon Musk. It is easy to say, 'A plague on both your houses.' The verbal fisticuffs between the world's wealthiest and the most powerful social media moguls is amusing but delivers nothing of substance to the American people. The brickbats flew when Musk called Trump's 'big beautiful' tax bill a 'disgusting abomination,' urging Congress to 'KILL the BILL.' Then Musk rhetorically polled his flock on X as to whether it was time to found a new political party representing the 80 percent of Americans 'in the middle.' Trump responded on his Truth Social that 'Elon was 'wearing thin'. I asked him to leave… and he just went CRAZY!' Trump in fact didn't fire Musk — Musk termed out, reaching the maximum number of days he could serve as a 'special government employee.' Trump's response was measured: 'I don't mind Elon turning against me, but he should have done so months ago. This is one of the greatest bills ever presented to Congress.' The budget bill would, according to the nonpartisan Congressional Budget Office, grow the debt by $2.4 trillion over the next decade. Despite Trump's exaggerations, he cannot extend tax cuts and impose inflationary tariffs without causing slower growth and higher interest rates (in the process increasing the cost of debt service). There is also the clear and present danger that the escalating debt will trigger a cataclysmic financial crisis. And his beautiful bill leaves almost 11 million Americans without health insurance over the next decade. Musk endorsed a tweet suggesting that Trump should be impeached and replaced by Vice President JD Vance, then attacked Trump's most beloved issue: 'The Trump tariffs will cause a recession in the second half of this year.' The nonpartisan Organization for Economic Cooperation and Development essentially agrees that the tariffs are inflationary and will throttle growth. Musk also dropped a stink bomb: 'Donald Trump is in the Epstein files. That is the real reason they have not been made public,' referring to the disgraced financier Jeffrey Epstein, who killed himself in a federal prison while facing charges of sex trafficking. The derisive comments represented a stunning turnabout. Less than a week before, Trump gave Musk a key to the White House as an expression of gratitude for his work with the White House's Department of Government Efficiency or DOGE. What brought it all on? Trump said Musk was 'upset' that the pending legislation would roll back subsidies for electric vehicles. Musk denied he was even aware of it. While the game may be afoot between the men in the arena, there is more to this lovers' quarrel. The rift involves political risks for both sides. Trump aides promptly reached out to Musk in an effort to deescalate the conflict. There are now signs of an uneasy truce, even though Trump says he has no desire to mend the rift. Musk's posts about Epstein and possible impeachment were deleted, but who knows whether the cease-fire will hold. Before we start dancing and singing, 'Ding Dong, the witch is dead,' it is important to remember that certain salient features of the Trump-Musk regime remain. DOGE post-Musk is still with us, and it has not saved money while doing lasting damage. Nor has it created efficiency — it has thrown the baby out with the bathwater. The Trump-Musk budget (which Musk has now repudiated) cuts research funding to the bone — steps that would make the country less healthy and leave the field to China. For the past 80 years, the federal government has supported scientific research as a national engine of innovation. Support of basic research by the National Institute of Health has accomplished spectacular advances and makes critical contributions to the economy. For fiscal 2025, the total NIH budget is $48 billion, which may not even be fully awarded; the Trump budget for 2026 proposes to chop it by 44 percent to $27 billion. Meanwhile, China has nearly caught up to us in biotechnology and already conducts more clinical trials than the U.S. and Europe combined. Trump has terminated NIH grants before their scheduled end dates, with an inexplicably heavy bias against infectious disease and vaccine research — not to mention his war on our universities, with total termination at Harvard and freezes at Columbia, Brown and Northwestern. The Trump-Musk divorce is a reminder of indefensible policies, not a harbinger of good news. We will still witness (subject to eventual court rulings) Trump's revenge on law firms he doesn't like, arbitrary firings of civil servants and agency officials, and reciprocal tariffs based on specious claims of 'national emergency.' The poster child of the Trump-Musk legacy is the shuttering of USAID, a soft power success for 80 years that won hearts and minds for America globally. Pete Hegseth is still running amok in the Department of Defense, compromising national security with insecure communications of classified material and dismissing seasoned officers because of race, gender or alleged political disloyalty. Kristi Noem's Department of Homeland Security is still illegally deporting individuals without notice, hearing or hard evidence of undesirability. And Pam Bondi's Justice Department will continue to arrest judges, recommend pardons for the criminal faithful and dismiss strong cases against corrupt politicians. Much of what Trump has done is obviously illegal, but we will have to see if the courts stand up to him or water down their rulings to avoid a constitutional crisis. But legalities aside, is any of this sound policy? The Trump-Musk spat may be amusing, but, as Lord Byron wrote, 'And if I laugh at any mortal thing, 'Tis that I may not weep.' James D. Zirin, author and legal analyst, is a former federal prosecutor in New York's Southern District. He is also the host of the public television talk show and podcast Conversations with Jim Zirin.
Yahoo
an hour ago
- Yahoo
Sonnedix signs 420GWh energy supply deal with Renfe
Renewable energy developer Sonnedix has agreed provide 420 gigawatt hours (GWh) of renewable energy per year for Spanish rail network operator, Renfe. The power purchase agreement (PPA) follows the recent inauguration of Sonnedix's 150MW Covatillas 1, 5 and 6 portfolio. The three plants are situated in the municipalities of Minglanilla, Graja de Iniesta, and Puebla de Salvador, in Cuenca, Spain. Sonnedix will deliver a portion of its output to Renfe, as well as the electricity generated by the Portachuelo portfolio in Toledo. The PPA will help Renfe meet a substantial amount of its total predicted energy requirements, supporting the national rail operator's sustainability targets. Renfe economic and financial general director Marta Torralvo stated: 'This agreement represents a new step in Renfe's energy management roadmap. This contract promotes renewable energy production projects while stabilising Renfe's energy prices, which we consider very positive for the company's management.' Torralvo pointed out the importance of predictability in energy costs against the backdrop of high volatility in energy prices. The 300-hectare Covatillas portfolio comprises three solar photovoltaic (PV) plants that generate 300,000 megawatt hours (MWh) of renewable energy annually, powering 71,000 homes and preventing more than 108,000mt of CO₂ emissions. Sonnedix chief commercial officer Gregorio Morales Schmid stated: 'The electricity we provide is generated from our portfolio of solar assets in Spain, which we are progressively expanding through the integration of battery storage and wind power. This diversification enables us to offer more tailored power profiles and deliver high-value-added services that respond to the evolving needs of our clients.' Sonnedix has a total project portfolio of more than 11.68GW, including 1.15GW under construction and a 6.7GW development pipeline in Chile, France, Germany, Japan and the US. In November 2024, Sonnedix launched the 150MW Betierra project in Castilla-La Mancha, Cuenca, in Spain's central-eastern region. "Sonnedix signs 420GWh energy supply deal with Renfe" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
