Alphawave Extends Deadline for Qualcomm Bid as Talks Continue
Alphawave IP Group Plc said it has extended the deadline for Qualcomm Inc. to make a firm bid for the London-listed semiconductor company until May 12 to give the companies more time to discuss terms of a potential deal.
The deadline for Qualcomm to decide whether to bid or walk away from the talks had been due to expire at 5 p.m. London time on Tuesday. There's no certainty that a formal offer will be made, Alphawave said in a statement.
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Yahoo
an hour ago
- Yahoo
Billionaire takes on Heathrow with plan for cut-price expansion
A billionaire hotel entrepreneur is spearheading a rival proposal to expand Heathrow, as he vows to deliver the project more cheaply than the airport would. Surinder Arora is drawing up plans for the project after Mike Kane, the aviation minister, said last week that the Government was open to alternative bids to build a third runway. As one of the biggest landowners at Heathrow through his eponymous property empire, Mr Arora has teamed up with US engineering giant Bechtel to forge ahead with his development bid. 'The Government has asked for submissions this summer and we will be there,' he told The Telegraph. Mr Arora welcomed the comments from Mr Kane, who has confirmed that ministers had 'asked for Heathrow or a third party' to present alternative runway proposals. 'It's exactly what we've been asking for,' said Mr Arora, who previously led a rival expansion bid in 2018. 'We have said previously that we could do Heathrow between 32pc and 34pc cheaper,' he said. 'Obviously, times have moved on, but I think we will look to push on that. 'We can deliver the whole thing, and without a shadow of a doubt, we'd build it cheaper than Heathrow Airport Limited. 'This will give the airlines and passengers the chance to make a choice.' Mr Arora signalled that he has already enlisted hundreds of consultants to work on the project, which could include plans for a shorter third runway. However, he has vowed to listen to what airlines want before submitting his proposal. The possibility of a shorter airstrip at Heathrow has emerged as a potential alternative to the airport's more ambitious plans, which some claim could cost up to £ a runway could both slash costs and shave years off the project's completion date by removing the need to divert the M25, Britain's busiest motorway, under the new strip. Like Mr Arora, Heathrow is also working on a proposal. But this is expected to include plans for a full-length runway. While that blueprint is enshrined in an Airports National Policy Statement (ANPS) adopted by Parliament in 2018, estimated costs are understood to have swelled from £14bn at 2014 prices to between £42bn and £63bn. A truncated runway would impose limits on the planes able to use it, but would nevertheless find favour with airlines that have pushed back against paying for the pricier option. The boss of one major carrier, speaking at the IATA industry gathering in Delhi last week, said the latest costing for the full-scale plan would require what he called an 'eye-watering' increase in ticket prices of between £75 to £100. Sir Tim Clark, head of Emirates, the world's biggest long-haul airline, said at the same event that he was against diverting the M25 and would back a shorter runway 'for landing purposes or single-aisle aircraft, anything to declutter what's there'. Heathrow Reimagined, a campaign group that includes British Airways (BA) and Virgin Atlantic, said it 'welcomes competition and alternative proposals designed to increase capacity at the airport more efficiently'. BA, which operates about half of the flights at Heathrow, declined to specify its favoured option but said 'a solution should consider the airport boundaries, runway length, total project cost and the impact on consumers.' Willie Walsh, the former chief of parent group IAG, said in 2017 that spanning the motorway would add unnecessary cost and complexity. 'Airlines were never consulted on the runway length and they can operate perfectly well from a slightly shorter runway,' he said. According to stipulations in the ANPS, Heathrow's third runway should have a length of 'at least 3,500m' that would be able to handle 260,000 extra flights or more each year. However, a strip measuring 3.2km could accommodate 90pc of flights, according to the boss of a UK airline speaking at the same event in India, who described the prospect of diverting the M25 as 'scary'. Heathrow's northern runway stretches for 3.9km, making it the longest active landing airstrip in the UK, while the southern one measures almost 3.7km. Reports in March suggested that Heathrow itself was looking seriously at modifying its pending submission to the Government to feature a shorter runway in order to cut costs. However, Heathrow chief Thomas Woldbye denied that it was the case, saying that he intended to deliver the longer runway specified and that ripping up the busiest two-mile stretch of the M25 could not be avoided. What remains unclear is how much weight the Government will give to reducing delivery costs versus the extra time in planning that a radical alternative to the previous proposals might require. Rachel Reeves, the Chancellor, said in January she wanted to see 'spades in the ground' on the project before the next general election and the start of flights by 2035. Departing from the requirements of the ANPS could mean that the planning process would be lengthier. The outcome of a Civil Aviation Authority (CAA) review of Heathrow's mechanism for charging airlines in the context of the third runway will also be of fundamental importance. Heathrow Reimagined is pressing ministers to abandon rules under which money spent on the airport can be charged directly to airlines through increased fees. While those fees are regulated by the CAA, carriers say the system provides no incentive for Heathrow to wring efficiencies from infrastructure projects. In his comments, reported in the London Standard, Mr Kane declined to say if Heathrow shareholders, airlines or passengers should foot the bill. Meanwhile, a Labour insider said Mr Kane's comments were intended to convey a willingness to introduce competition into the runway process, rather than a pledge to do so. However, it appears the ball may already be rolling. 'Heathrow is a huge business, and competition is a good thing,' said Mr Arora. 'We're not here to slow or delay things. We will do whatever is necessary.' The Department for Transport said that while Heathrow Airport had previously been deemed the only credible party able to deliver the runway project in its entirety, it remains open-minded and will treat other proposals fairly. A spokesman said: 'There is no live planning application for Heathrow expansion at present, but when plans come forward, we will ensure any expansion is assessed against the Government's legal, carbon and environmental obligations.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. 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
Bloomberg
2 hours ago
- Bloomberg
US Seeks Deal in London on China Rare Earth Flows, Hassett Says
US negotiators will aim to restore the flow of critical minerals when they meet their Chinese counterparts for a new round of trade negotiations Monday in London, a top economic aide to President Donald Trump said. 'Those exports of critical minerals have been getting released at a rate that is, you know, higher than it was but not as high as we believe we agreed to in Geneva,' Kevin Hassett, director of the National Economic Council, said Sunday during an interview on CBS News' Face the Nation with Margaret Brennan.
Yahoo
2 hours ago
- Yahoo
Up 20% in a week! This growth stock is on fire – should I consider buying it?
I'm looking to add a growth stock to my self-invested personal pension (SIPP). This marks a change in strategy for me. In recent years, I've focused on value shares, especially income-paying FTSE 100 financials like Legal & General Group. But I need a break from being a contrarian. Today, I want to piggyback on some momentum. Pick a red-hot growth share and, with luck, hope it climbs even higher. Naturally, both strategies carry risks. Value stocks can turn out to be traps, while high-flying growth shares can come crashing down. I'm especially wary of buying after a stock has already surged, which is exactly the case with a FTSE 250 company that's rocketed 20% in the last week. This isn't a flash in the pan though. Its shares are up more than 50% over 12 months and over 115% in five years. The stock in question is Chemring Group (LSE: CHG), and it has the benefit of operating in a sector that's very much in demand right now: defence. Chemring is a world leader in chemical and biological threat detection, electronic warfare and systems that locate improvised explosive devices. In today's uncertain world, its kit is in demand. It isn't the only one riding this trend. FTSE 100 peer Babcock International jumped 13% last week. BAE Systems and Rolls-Royce have also wowed lately. Happily, I hold both. Chemring got a major lift on Friday (6 June) when analysts at Berenberg upgraded the stock from Hold to Buy, citing a 'very bright' outlook to 2030. It pointed to a pipeline of opportunities in Chemring's energetics division. Berenberg noted that earnings per share are forecast to compound at 19% a year on average over the next three years. The broker called Chemring's price/earnings-to-growth (PEG) ratio 'undemanding', and hiked its price target from 470p to 670p. This came hot on the heels of a first-half update on Tuesday, when Chemring confirmed its annual guidance after reporting a 12% rise in underlying earnings to £39.8m. The order book hit a record £1.3bn, with intake up 42% to £488m. Management noted rising global tensions, from Ukraine and the Middle East to the Asia-Pacific, with many governments increasing their defence budgets and rushing to replenish depleted stockpiles. All this explains the recent rally, but even strong shares can run too far, too fast. There are five analyst forecasts for the stock, all with a 12-month target of 540p. That's almost 7% below today's price of 584p. However, all six analysts rating the stock currently label it a Strong Buy. None say Hold, none say Sell. After quickfire surge, Chemring may slip back slightly as profit takers emerge, so I'd wait and watch before diving in. At a price-to-earnings ratio of 36, it's hardly cheap. Personally, I already have plenty of exposure to defence through BAE and Rolls-Royce. If I wasn't already so heavily exposed to this dynamite sector, I'd seriously consider buying Chemring in the days ahead. There's still a chance I might, if the heat goes out of it a little. The post Up 20% in a week! This growth stock is on fire – should I consider buying it? appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool Harvey Jones has positions in BAE Systems and Rolls-Royce Plc. The Motley Fool UK has recommended BAE Systems, Chemring Group Plc, and Rolls-Royce Plc. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025 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
