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Thuird Bridge joins Aeria AI consortium

Finextra5 days ago

Third Bridge, a leading expert network, today announced its membership of a significant new consortium led by Aiera, a pioneer in generative AI solutions for financial professionals.
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This landmark collaboration is set to advance AI-driven financial research, establishing a new standard for collaborative and compliant innovation across the financial industry.
As the sole expert network within the consortium, Third Bridge brings its unparalleled library of unique private company data, enriched by its in-house sector analysts and exclusive investor-led expert interviews.
The consortium, which proudly includes 10 of Wall Street's largest investment banks, is focused on accelerating AI innovation. Its primary goals are to enhance language model accuracy, fortify intellectual property protections, and deliver a unified, cutting-edge solution for clients integrating generative AI into their workflows.
"Third Bridge is thrilled to be a part of this groundbreaking initiative," said Emmanuel Tahar, CEO of Third Bridge. "In a rapidly evolving financial landscape, embracing technological advancements is paramount. Our involvement in this consortium underscores our deep commitment to fostering innovation while upholding the highest standards of accuracy, intellectual property protection, and content integrity. We believe this collaboration will not only amplify the value we provide to our clients but also elevate the entire financial research ecosystem."
This strategic partnership will enable Third Bridge to actively contribute to and benefit from the development of clear industry standards for intellectual property protection, secure content access, accurate chat-prompt responses, and transparent citation integrity. By integrating Third Bridge's high-quality content library directly into Aiera's solutions, investment professionals and industry analysts will be empowered with even more informed, real-time decision-making capabilities across their critical investment workflows.
Mike Grubert, Managing Director at Third Bridge, added, "We are immensely proud to lend our expertise and content to this consortium. This collaboration signifies a collective commitment to building a secure, scalable AI ecosystem that fundamentally enhances the value of research and rigorously safeguards intellectual property. Our clients will gain unprecedented access to cutting-edge AI tools specifically engineered to meet the stringent demands of the financial industry, ensuring they remain at the absolute forefront of market intelligence."
The Aiera consortium also includes Microsoft as a strategic technology partner further solidifying the initiative's robust foundation and commitment to excellence. A dedicated Buy-Side Advisory Council, comprised of senior leaders from leading long-only and hedge-fund firms, has been established to provide invaluable strategic insights and product testing feedback, ensuring the technology offering precisely meets the practical needs of financial professionals.

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John Textor provides another twist in Crystal Palace ownership saga
John Textor provides another twist in Crystal Palace ownership saga

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John Textor provides another twist in Crystal Palace ownership saga

The Crystal Palace ownership saga has taken another twist with the club's largest shareholder, John Textor, listing his holding company Eagle Football for an initial public offering in the US. Textor's multi-club operation, which also owns majority shares in Lyon and Botafogo, has submitted a draft registration statement to the US Securities and Exchange Commission. An IPO is when a private company first sells shares to the public. Eagle documents seen by the Guardian show that the company has made a confidential S-1 filing, with institutional investors invited to buy shares in it. Neither the volume nor prices of the shares to be listed has been made public. Eagle has sustained heavy losses in recent years largely due to its big spending at Lyon, rather than Palace. Textor first announced plans for an Eagle IPO, which would be the first conducted by a multi-club football group, with a company valuation of $2bn (£1.47bn) last November, but the timing of the listing is curious given his involvement in sale talks at Palace, and the uncertainty over whether the club will be allowed to compete in the Europa League next season. Textor declined to comment or discuss his intentions. Lyon have also qualified for the competition and Uefa rules prevent clubs with the same owners both taking part. As previously revealed by the Guardian, Uefa has rejected an offer by Textor to put his 44.9% stake in Palace into a blind trust as he missed the 1 March deadline, and the American has since stepped up his efforts to sell. The Guardian reported on Thursday that the New York Jets owner, Woody Johnson, has offered £190m to buy Textor's shares in a move that would be welcomed by the club chairman, Steve Parish, although that price is believed to be considerably short of his valuation. A consortium including NBA star Jimmy Butler and investment company Sportsbank has also made an offer. Textor's preference would be to sell to fellow shareholders Josh Harris and David Blitzer, who each own 18% of the club, but despite months of negotiations they have been unable to agree on a price. Textor has spent around £180m on Palace since buying an initial 40% stake for £87m four years ago, with his investment crucial to the redevelopment of the club's training ground and funding numerous player purchases, and is reluctant to sell at a big loss. Palace have expressed confidence they will be cleared by Uefa to take part in the Europa League on the grounds that Textor does not have a 'decisive influence' at the club, and if they are thrown out are likely to appeal to the court of arbitration for sport. Uefa made renewed contact with Palace seeking clarification on elements of their submissions last week, which the club have interpreted as a positive sign. In a potentially worrying development for Palace, Drogheda United were expelled from the Conference League last week due to multi-club issues. The Irish Premier League club are owner by the American investors Trivela Group, whose Danish club Silkeborg have also qualified for the competition and been given primacy by Uefa as they finished higher in their domestic league. Sign up to Football Daily Kick off your evenings with the Guardian's take on the world of football after newsletter promotion Drogheda responded by saying they will take the matter to Cas, and the Palace case also appears destined to be decided by the court in Lausanne. To complicate matters further, Nottingham Forest would be promoted from the Conference League to the Europa League if Palace are banned by Uefa. Forest have written to Uefa outlining their position and they, in turn, could take the matter to Cas if Palace are allowed to stay in the Europa League.

Exclusive: US Export-Import Bank considers $120 million loan for Greenland rare earths project
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June 15 (Reuters) - Critical Metals Corp (CRML.O), opens new tab has received a letter of interest from the U.S. Export-Import Bank (EXIM) for a loan worth up to $120 million to fund the company's Tanbreez rare earths mine in Greenland, in what would be the Trump administration's first overseas investment in a mining project. The loan, if approved, would boost U.S. access to minerals increasingly at the center of global economic trade and help offset the country's reliance on market leader China. It also comes after President Donald Trump openly mused earlier this year about acquiring the Danish island territory, an overture that has been repeatedly rejected. In a letter dated June 12 and reviewed by Reuters, New York-based Critical Metals has met initial requirements to apply for the $120 million EXIM loan and, if approved, would have a 15-year repayment term, longer than the company likely would have with private financing. The project would have to be "well-capitalized with sufficient equity from strategic investors" to receive the loan, the letter said. EXIM, which acts as the U.S. government's export credit agency, said in the letter that Critical Metals qualifies for a loan program designed to support companies that compete with China. The Tanbreez project is expected to cost $290 million and the EXIM funds would be used to fund technical work and get the mine to initial production by 2026. Once fully operational, the mine is expected to produce 85,000 metric tons per year of a rare earths concentrate and two minor metals. "This funding package is expected to unlock significant value for our project and our stakeholders," said Tony Sage, the company's CEO. Representatives for EXIM were not immediately available to comment. The move is the latest in a series of supportive actions by Washington toward the Tanbreez deposit and Greenland's mining sector. Reuters reported in January that former President Joe Biden's administration had successfully lobbied privately held Tanbreez Mining not to sell to a Chinese developer and instead sell to Critical Metals. Biden officials were visiting Nuuk as recently as last November trying to woo additional private investment, opens new tab in the island. Trump sent Vice President JD Vance to the island in March. The island's mining sector has developed slowly in recent years, hindered by limited investor interest, bureaucratic challenges and environmental concerns. Currently, only two small mines are in operation. Rare earths have strong magnetic properties that make them critical to high-tech industries ranging from electric vehicles to missile systems. Their necessity has given rise to intense competition as Western countries try to lessen their dependence on China's near-total control of their extraction and processing. Beijing in April put export restrictions on rare earths as part of its trade spat with Trump. The two countries earlier this month reached a truce, although Beijing's control of the sector has exacerbated the West's over-reliance and sparked a global hunt for fresh supplies. Despite the loan potential, Critical Metals would still have to either build a processing facility or find an existing site with spare capacity. The company told Reuters that its goal is to process the material inside the U.S., a goal the EXIM loan would make more achievable. Last year, Critical Metals had applied for funding to develop a processing facility from the U.S. Department of Defense, but the review process stalled ahead of Trump's January inauguration. For the EXIM loan's additional funding requirements, Critical Metals said it is considering offtake agreements, royalty streams and funding from other U.S. governmental agencies. Critical Metals told Reuters earlier this year that it has held supply talks with defense contractor Lockheed Martin (LMT.N), opens new tab, among others. Critical Metals' 10th-largest investor is brokerage firm Cantor Fitzgerald ( which was formerly led by Howard Lutnick before he joined Trump's cabinet as secretary of the U.S. Commerce Department. Sage told Reuters in January he had never met or talked to Lutnick, but acknowledged Cantor's investment was a positive for his company. EXIM last year extended a letter of interest to Perpetua Resources (PPTA.O), opens new tab for a loan worth up to $1.8 billion for its antimony and gold mine in Idaho.

What is VTEC and Why Are Honda Fans Obsessed With It?
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time2 hours ago

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What is VTEC and Why Are Honda Fans Obsessed With It?

'VTEC just kicked in, yo!' is a popular phrase you've probably heard before, but there's a story and a meaning behind the saying. Part myth, part fact If you have driven or been around Honda-branded cars since the mid-1990s, you might be familiar with a four-letter word that has defined the brand's performance identity for decades: VTEC. Since its first automotive application in 1989, Honda's VTEC engine technology has given its four and six-cylinder engines a lot of lore and internet fame because of what it could do for spirited drivers and enthusiasts alike. But while there are many memes and misconceptions of what exactly happens under the hood, the tech behind VTEC has stood the test of time and is still used in Honda's new cars today. VTEC has its roots in these 90s automotive icons VTEC has been around longer than you think; it predates the Sega Game Gear, the Super Nintendo, and Dunkaroos. Initially introduced in 1989 in the Japanese-market version of the Honda Integra XSi, VTEC didn't make its way into the United States until the introduction of the Acura NSX supercar in 1991. The legendary mid-engined car's 3-liter C30A V6 engine produced just 270 horsepower. Still, the groundbreaking VTEC technology that gave the engine its unique performance characteristics would later be found in dozens of different Honda models, from humble commuters like the Civic and Accord to their high-performance Type-R versions. Honda VTEC engine In the early 1980s, Honda wanted to develop a new generation of engines for regular cars with a special touch that would further enhance performance. Variable valve timing, or VVT, had existed for some time before VTEC was developed, and automakers like Fiat and Alfa Romeo had used the technology in their own cars before Honda developed VTEC. But the Japanese automaker's lofty goals dictated its destiny. Honda management tasked its engineers with developing a naturally aspirated engine that would deliver 100 horsepower per liter of displacement—an impossible feat at the time. This meant developing an engine that could handle the load of higher speeds without sacrificing quality or reliability. Autoblog Newsletter Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Sign up or sign in with Google Facebook Microsoft Apple By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. How does it work? At the time, Honda's engines were powerful at high speeds but did not produce much power at the lower end of the rev range. Its engineers tried everything, but one solution that did work was a system that could switch cam profiles on command: VTEC. VTEC stands for Variable Valve Timing & Lift Electronic Control System. While it may be an unusual name, it is derived from an engine technology that combines excellent fuel efficiency at low RPMs with a burst of power at high RPMs. This can be achieved by switching between two camshaft lobe profiles at different speeds within the rev range. VTEC in an engine VTEC in an engine All engines require air and fuel to turn over, and valves open up to allow air into a cylinder; a process controlled by cams on a camshaft and rocker arms. Each cylinder has cam followers with different cam profiles and rocker arms that can lock together. The taller cam lobes deliver VTEC power and connect to an inactive rocker arm. When activated, these lobes increase lift and extend lift duration, allowing more air to enter the engine at high RPM. When drivers mash the accelerator down, the engine speed rises, and so does the oil pressure. Once the engine reaches a certain RPM in Honda VTEC engines, the oil pressure pushes pins inside the rocker arms, locking them together. Since the rocker arms are locked together, all the intake valves (and exhaust valves, depending on the engine type) open wider, allowing more air in and creating more power. When the RPM drops, the oil pressure also drops, the locking pins go back to their original positions, and the lower-profile cams operate the valves back to the 'fuel economy' mode. 2000 Honda Civic Si Engine What are the performance benefits and downsides? The phrase 'VTEC just kicked in, yo!' is a term so ingrained in internet car enthusiast culture that it has its own page on Know Your Meme, but it is based on a real phenomenon that Honda drivers have experienced. In most other four-cylinder engines, the zone around the 5000-6000 RPM range is where most other cars would have their redline, as it would start losing power around this point. However, this traditional 'no-go zone' is where Honda's VTEC engines truly shine. Reaching the 'VTEC cutoff' can be characterized by a unique, brawny, high-revving sound and a sudden pull of instant power; a feeling that many late-model Civic and Accord drivers can attest to as addictive. As a whole, the VTEC system does what it was designed to do by Honda engineers and the managers who oversaw them; it delivers a lot of power in 1.6 to 2.4-liter inline four-cylinder or 3 to 3.5-liter V6 engines, solid fuel economy at the lower rev range, and virtually bulletproof reliability. In 2023, one 2003 Accord owner, Justin Kilmer, racked up one million miles on his V6 coupe through his work as a medical courier. But with its benefits, VTEC engines can suffer from feeling lethargic at lower speeds, as peak power and torque could be located ridiculously high on the rev counter. For instance, the 2.4-liter K24 DOHC VTEC engine in the 2006 Honda Civic Si produces 197 horsepower at 7,800 RPM, which is very close to its 8,000 RPM redline. 2000 Honda Civic Si Final thoughts Although VTEC has evolved over the years to include versions like i-VTEC, VTEC-E, and VTEC Turbo, 'copycats' of VTEC technology have been developed by other automakers, such as Toyota and Mitsubishi, while other automakers used other methods to achieve the same end goal. For example, the 996 Porsche 911 featured VarioCam, which used an adjustable chain tensioner to control the amount of slack in the timing chain that connects the intake and exhaust cams. BMW's VANOS on the M50 straight-six engine, used in cars like the E46 M3, employed a helical gear on the camshaft to adjust the timing. Today, many manufacturers, including American and European companies as well as several of Honda's competitors in Japan, employ some form of variable valve timing in their engines. However, VTEC remains a Honda hallmark as one of the first commercially successful variable valve timing technologies to be used in mass-produced cars, and a source of pride among Honda fans and owners. About the Author James Ochoa View Profile

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