Joby, Saudi Investor Eye Air Taxi Deal Worth Up to $1 Billion
Joby Aviation Inc. is working toward an agreement to sell as many as 200 of its air taxis to a major Saudi Arabian investor in a deal potentially worth as much as $1 billion.
Joby and Abdul Latif Jameel, a Jeddah-based group named after its late founder and run today by his family, have signed a memorandum of understanding 'to explore opportunities to establish a distribution agreement in Saudi Arabia for Joby's electric aircraft,' according to a joint statement Tuesday.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
20 minutes ago
- Yahoo
Dr Martens sees profits slide but on track for return to growth
Dr Martens has revealed annual profits slumped as sales came under pressure and it cautioned over ongoing falling revenues in the UK. The footwear group reported pre-tax profits of £8.8 million for the year to March 30, down from £93 million the previous year, after seeing sales fall 10%. On an underlying basis, pre-tax profits slumped to £34.1 million from £97.2 million. The group said sales to consumers in the US returned to growth in the second half of the year and have continued to increase, but revealed UK revenues have remained lower since the year-end 'due to a challenging market'. It added that unfavourable foreign exchange rates would see it take a hit to group sales and profits of around £18 million and £3 million respectively in 2025-26. Despite this, Dr Martens said it expects underlying profits to rise 'significantly' over the financial year ahead, with analysts expecting a jump to between £54 million and £74 million. It flagged uncertainty over the impact of higher tariffs, but said it was holding off from price hikes for the the remainder of 2025. Its stock is already in the US market for the spring/summer season and either there or on its way for the autumn/winter. 'We do however recognise that there is continued macroeconomic uncertainty and the full outcome of tariffs is still unknown, and we will monitor this closely through the year and take action as appropriate,' the group said. The Northamptonshire-based company outlined new plans for growth alongside its results, with aims to attract new shoppers and hold off from discounts in EMEA and the Americas. Annual figures showed sales sales dropped 11.4% over the year, although retail lifted 1% in the final six months. In the Europe, Middle East and Africa (EMEA) region, sales fell 11%, with direct-to-consumer difficulty amid a highly promotional market – particularly in the UK. The company, whose yellow-stitched boots have been a retro mainstay for decades, has been in the doldrums in recent years, with declining revenues exacerbated by the cost-of-living crisis. It listed on the London Stock Exchange in 2021, and has since issued a slew of profit warnings and replaced its chief executive. Many of Dr Martens' recent problems have come from steep declines in sales in the US, but new chief executive Ije Nwokorie said the group had stabilised in the past year. He said: 'Our single focus in 2024-25 was to bring stability back to Dr Martens. 'We have achieved this by returning our direct-to-consumer channel in the Americas back to growth, resetting our marketing approach to focus relentlessly on our products, delivering cost savings and significantly strengthening our balance sheet.' Mr Nwokorie, previously the firm's head of marketing before taking on the top job from Kenny Wilson on January 6, said: 'I am laser-focused on day-to-day execution, managing costs and maintaining our operational discipline while we navigate the current macroeconomic uncertainties.' 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
Business Wire
34 minutes ago
- Business Wire
Ryan Expands Reach in United Kingdom with Acquisition of Inspired Corporate Advisory
BELFAST, Northern Ireland & LONDON & DALLAS--(BUSINESS WIRE)-- Ryan, a leading global tax services and software provider, has announced the acquisition of Inspired Corporate Advisory Limited (Inspired), a tax advisory and compliance services firm specializing in research and development (R&D), capital allowances, and patent box incentives. The Northern Ireland-based Inspired team will expand Ryan's regional capabilities and tax offerings to enterprise clients across multiple industries, with a specialization in the engineering, construction, and building supply sectors. The rapidly growing team of Inspired tax professionals will deepen Ryan's capabilities in corporate tax compliance, incentives, and tax advisory services. 'As one of Northern Ireland's only dedicated tax firms, Inspired is well aligned to Ryan's commitment to providing bespoke client services focused on business taxes,' said Ryan President, European and Asia-Pacific Operations, Tom Shave. 'This acquisition strengthens our growth strategy as, together, we look to expand our presence in Northern Ireland and the Republic of Ireland.' Ryan is pleased to welcome Inspired partners, Eugene O'Neill and Michael Heinicke, as Principals of the Firm. Additionally, 16 team members will bring more than six decades of combined experience gained from industry and large accounting firms, including Colm Cavanagh (renowned former Gaelic football player) as a key client engagement authority. The acquisition also expands Ryan's global footprint by establishing two new office locations in Holywood and Dungiven. 'As a global Firm, Ryan's focused commitment to providing strategic tax solutions with local expertise backed by extensive technology is tremendously beneficial for our clients,' said Eugene O'Neill, co-founder of Inspired and new Ryan Principal. 'Ryan's results-based approach to client service, wherever they operate in the world, offers the best platform to grow Inspired and maximize tax savings for our clients.' About Ryan Ryan, an award-winning global tax services and software provider, is the largest Firm in the world dedicated exclusively to business taxes. The Firm provides an integrated suite of international tax services on a multijurisdictional basis, including cost management, compliance, consulting, technology and transformation, and innovation funding. Ryan is an 11-time recipient of the International Service Excellence Award from the Customer Service Institute of America (CSIA) for its commitment to world-class client service. Empowered by the dynamic myRyan work environment, which is widely recognised as the most innovative in the tax services industry, Ryan's multidisciplinary team of more than 5,900 professionals and associates serves over 77,000 clients in more than 80 countries, including many of the world's most prominent Global 5000 companies. More information about Ryan can be found at
Yahoo
34 minutes ago
- Yahoo
Ryan Expands Reach in United Kingdom with Acquisition of Inspired Corporate Advisory
BELFAST, Northern Ireland & LONDON & DALLAS, June 05, 2025--(BUSINESS WIRE)--Ryan, a leading global tax services and software provider, has announced the acquisition of Inspired Corporate Advisory Limited (Inspired), a tax advisory and compliance services firm specializing in research and development (R&D), capital allowances, and patent box incentives. The Northern Ireland-based Inspired team will expand Ryan's regional capabilities and tax offerings to enterprise clients across multiple industries, with a specialization in the engineering, construction, and building supply sectors. The rapidly growing team of Inspired tax professionals will deepen Ryan's capabilities in corporate tax compliance, incentives, and tax advisory services. "As one of Northern Ireland's only dedicated tax firms, Inspired is well aligned to Ryan's commitment to providing bespoke client services focused on business taxes," said Ryan President, European and Asia-Pacific Operations, Tom Shave. "This acquisition strengthens our growth strategy as, together, we look to expand our presence in Northern Ireland and the Republic of Ireland." Ryan is pleased to welcome Inspired partners, Eugene O'Neill and Michael Heinicke, as Principals of the Firm. Additionally, 16 team members will bring more than six decades of combined experience gained from industry and large accounting firms, including Colm Cavanagh (renowned former Gaelic football player) as a key client engagement authority. The acquisition also expands Ryan's global footprint by establishing two new office locations in Holywood and Dungiven. "As a global Firm, Ryan's focused commitment to providing strategic tax solutions with local expertise backed by extensive technology is tremendously beneficial for our clients," said Eugene O'Neill, co-founder of Inspired and new Ryan Principal. "Ryan's results-based approach to client service, wherever they operate in the world, offers the best platform to grow Inspired and maximize tax savings for our clients." About Ryan Ryan, an award-winning global tax services and software provider, is the largest Firm in the world dedicated exclusively to business taxes. The Firm provides an integrated suite of international tax services on a multijurisdictional basis, including cost management, compliance, consulting, technology and transformation, and innovation funding. Ryan is an 11-time recipient of the International Service Excellence Award from the Customer Service Institute of America (CSIA) for its commitment to world-class client service. Empowered by the dynamic myRyan work environment, which is widely recognised as the most innovative in the tax services industry, Ryan's multidisciplinary team of more than 5,900 professionals and associates serves over 77,000 clients in more than 80 countries, including many of the world's most prominent Global 5000 companies. More information about Ryan can be found at View source version on Contacts MEDIA CONTACT Melodie ElliottRyan, Director, Content and Communications 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
