logo
Ex-SpaceX engineer raises $300 million for satellite "tugging"

Ex-SpaceX engineer raises $300 million for satellite "tugging"

Axios2 days ago

Impulse Space, a Cakifornia-based maker of spacecraft for "tugging" satellites across orbits, has raised $300 million in Series C funding led by Linse Capital.
Why it matters: This is the picks and shovels of defense-tech, akin to what oilfield service companies were to the fracking boom.
Zoom in: Impulse is led by Tom Mueller, the first SpaceX employee.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Allvue Systems Announces White Oak Management S.A. Is Live on Fund Administration Essentials Platform
Allvue Systems Announces White Oak Management S.A. Is Live on Fund Administration Essentials Platform

Business Wire

timean hour ago

  • Business Wire

Allvue Systems Announces White Oak Management S.A. Is Live on Fund Administration Essentials Platform

NEW YORK--(BUSINESS WIRE)--Allvue Systems, a leading provider of cloud-based technology for investment managers and fund administrators, today announced that Luxembourg-based White Oak Management S.A. has officially gone live on Allvue's Fund Administration platform. White Oak Management selected Allvue to power its fund administration offering, enabling the firm to deliver streamlined operations, automated workflows, and superior reporting capabilities to its customers. As White Oak Management expands its footprint in Luxembourg's financial services landscape, Allvue's integrated, cloud-native platform provides the scalability and efficiency needed to meet the evolving demands of the alternatives markets. 'We chose Allvue because we needed more than just software — we needed a long-term technology partner with the ability to support our growing business in the region,' said Gabor Mocskonyi, Managing Director of White Oak Management. 'Allvue's robust reporting capabilities, operational flexibility, and seamless investor experience enables us to provide the level of service our clients expect as we scale.' 'White Oak Management is exactly the kind of partner we built Fund Administration Essentials for — a forward-thinking firm focused on delivering premium client service with operational excellence,' said James DiCostanzo, Head of the Fund Administration line of business at Allvue Systems. 'We're especially proud to support their growth in the Luxembourg region, where demand is rising for next-generation fund servicing capabilities.' The deployment also underscores Allvue's ability to support Transfer Agent operations — a critical pillar in fund administration. Allvue's capabilities empower firms like White Oak Management to manage investor information, account maintenance, and ongoing due diligence. The platform also supports capabilities related to transaction administration, as well as fund accounting, and investor relations. With Allvue, administrators can deliver a seamless and compliant investor experience, from onboarding to reporting. Allvue's Fund Administration platform is designed to help fund administrators scale to meet modern challenges through: Powerful fund accounting and general ledger tools Collaborative client portals and reporting dashboards Investment and investor management tools to meet Transfer Agent responsibilities Industry leading reporting capabilities A modern, API-first architecture for integration and growth 'This successful deployment further reinforces Allvue's commitment to supporting administrators across Europe with purpose-built solutions that accelerate growth, reduce operational risk, and elevate the investor experience,' said Iryan Clunis, Head of EMEA at Allvue Systems. To learn more visit About Allvue Systems Allvue is headquartered in Miami with locations globally throughout North America, Europe and India. Allvue is a recognized leader of cloud-based technology, AI, data, and services solutions for alternative investment managers in the private capital markets. Our integrated suite of software empowers firms of all sizes—including private equity managers, private debt managers, public credit managers, fund administrators, and banks —to streamline operations, enhance data accuracy, and drive superior investment decisions. Allvue has made deep investments in AI research and development as part of its commitment to innovation, which will enable clients to optimize workflows, automate processes, and gain deeper analytical insights across the entire investment lifecycle. White Oak Management S.A. is a Luxembourg-based firm offering bespoke family office, corporate, and administrative services. Founded with a client-centric philosophy, the firm is known for its rigorous service quality, regulatory compliance, and long-standing client relationships. Learn more at

Jack Daniel's maker Brown-Forman sees sales fall as Trump trade conflicts weigh on spirits producers

timean hour ago

Jack Daniel's maker Brown-Forman sees sales fall as Trump trade conflicts weigh on spirits producers

LOUISVILLE, Ky. -- Brown-Forman Corp. reported weaker sales Thursday as the maker of Jack Daniel's Tennessee Whiskey confronts challenging market conditions amid global trade conflicts and pinched consumer spending. The Louisville, Kentucky-based spirits giant said its full-year net sales of nearly $4 billion were down 5% from a year ago, and fell 7% in in the fourth quarter. Net income was down 15% for the full fiscal year and plunged 45% in the fourth quarter ending April 30, the company said. The quarterly drop came as Brown-Forman and other U.S. spirits producers who rely heavily on foreign sales felt the reverberations from President Donald Trump's sweeping tariff plans and consumer anxiety about the economy. Brown-Forman also offered a sobering assessment for the coming year. Having steered the company through an 'extremely challenging and uncertain operating environment' in the past year, Brown-Forman CEO Lawson Whiting predicted another challenging year ahead. 'Fiscal 2025 was a year unlike any other that I've seen in the past three decades,' he said during a conference call with industry market analysts. Whiting pointed to industry figures showing that many consumers are purchasing smaller sizes of spirits. He called it unusual and said it reflects a consumer 'who's pinched and just goes to the store with a $10 bill instead of $20 and then they get the smaller size.' 'The consumer and their wallet just doesn't have as much money in it," he said. "They're spending money on things like vacations and lodging, and other things like that. But then when it trickles down and they go to the grocery store, I think in some cases, spirits have fallen out of the basket a little bit.' In its outlook for the next year, the company said the challenges include continued consumer uncertainty and the 'potential impact from currently unknown tariffs.' 'We know it's highly volatile," Leanne Cunningham, the company's CFO, said while fielding a question about tariffs during the conference call. "None of us can predict what's going on." The company believes the market volatility will "create sustained levels of consumer uncertainty, which we believe will lead to another year of below historical total distilled spirits trends,' she said. Trump has often announced changes and pauses to his sweeping tariff plans on his social media platform. Trump hiked nearly all of his tariffs on steel and aluminum imports to a punishing 50% on Wednesday in a move that's set to hammer businesses from automakers to home builders, and likely push up prices for consumers even further. Brown-Forman executives said Thursday that American spirits brands mostly remain off store shelves in Canada. Trump has angered Canadians with his trade war and calls to make Canada the 51st state. Spirits makers in Kentucky have expressed fears of becoming "collateral damage' by getting caught up in trade conflicts. 'The uncertainty of the tariffs continues to weigh down distilleries large and small," Chris Swonger, president and CEO of the Distilled Spirits Council of the United States, said in a statement Thursday. "We are urging the Trump administration to help get the spirits sector back to fair and reciprocal trade with zero-for-zero tariffs with our major trading partners.' Meanwhile, Brown-Forman's full-year results showed that net sales for its whiskey products were flat. Growth from Jack Daniel's Tennessee Whiskey and its Woodford Reserve brand was offset by the negative effect of foreign exchange and declines in other super-premium Jack Daniel's products, it said. The company will launch a new product, Jack Daniel's Tennessee Blackberry, this summer. 'BlackBerry is a globally recognized, well-established flavor trend, and naturally complements the flavor of Jack Daniel's Tennessee Whiskey," Whiting said. In January, Brown-Forman announced it was reducing its global workforce by about 12% and closing its hometown barrel-making plant in Louisville. Whiting reaffirmed Thursday that those actions are expected to produce about $70 million to $80 million in annualized cost savings.

Praj Industries shares jump over 3% after company collaborates with Enersur S.A. for biorefinery project in Paraguay
Praj Industries shares jump over 3% after company collaborates with Enersur S.A. for biorefinery project in Paraguay

Business Upturn

time3 hours ago

  • Business Upturn

Praj Industries shares jump over 3% after company collaborates with Enersur S.A. for biorefinery project in Paraguay

By Aman Shukla Published on June 6, 2025, 10:20 IST Praj Industries stock rose over 3% in early trade after the company was selected by Paraguay-based renewable energy firm Enersur S.A. to support a major Biorefinery Project. This marks a significant step in Paraguay's clean energy transition and aligns with its sustainable rural development goals. The project, to be executed in phases, will produce ethanol and multiple co-products such as distillers dried grains with solubles (DDGS), corn oil, biogas, biobitumen, and sustainable aviation fuel (SAF). The agreement was signed in the presence of Paraguay President Santiago Peña Palacios during his State Visit to India (June 2–4, 2025). Praj's involvement follows a prior contract to design, supply, and commission a 600 m³/day Anhydrous Ethanol plant in Canindeyú, Paraguay, using corn as feedstock. The plant is expected to be fully operational by October 2026. Praj will provide technology licensing, engineering, key equipment, and project supervision. This collaboration is expected to create rural jobs and reduce Paraguay's fossil fuel reliance. It also highlights growing India–Paraguay cooperation in renewable energy and agri-tech. Praj Industries is steadily expanding in South America, with over 100 project references across the USA, Brazil, Colombia, Argentina, and Peru. The latest development reinforces its position as a global leader in sustainable bioeconomy solutions. Praj Industries shares opened at ₹495.20 and climbed to an intraday high of ₹508.10, while the low touched ₹493.65. The stock remains significantly below its 52-week high of ₹875.00 but is trading above its 52-week low of ₹443.90. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store