Lone Star's Novo Banco Aims for Possible IPO in June, CEO Says
Portuguese lender Novo Banco SA is 'well advanced' in drafting a prospectus for a possible initial public offering, which it aims to carry out in June at the earliest, Chief Executive Officer Mark Bourke said.
'We continue to have the same timetable, which is aim for June,' Bourke said in an interview on Tuesday. 'If market conditions are conducive, that's your first window. If not we go to September.'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
7 hours ago
- Yahoo
ECB policymakers debate risk of inflation going too low
By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) -European Central Bank policymakers hailed victory over runaway inflation on Friday even as some warned that it was now at risk of going too low, rekindling memories of anaemic price growth in the pre-pandemic decade. The ECB cut interest rates on Thursday for the eighth time in the past year and signalled at least a pause in policy easing next month since inflation was now safely back at its 2% target after three years of overshooting. Part of the argument for the pause is that economic growth is better than feared, a premise underpinned by fresh data showing the euro zone economy grew by 0.6% in the first quarter, above the 0.3% estimated earlier, and retail sales were also robust. However, the strong growth figure is an anomaly, many economists say. It was driven by frontloaded exports to the United States before tariffs kicked in and data was especially distorted by Ireland, where growth is fuelled largely by activity among big foreign companies based there for tax reasons. Portuguese policymaker Mario Centeno, who has long warned about the risk of price growth going too low, said his colleagues should be alert inflation dipping too far below 2%. "The inflation rate (in the euro zone) is currently below 2% and this downward trend will worsen until the beginning of next year, when it will approach the dangerous level of 1%, or slightly above that," he said in Lisbon. "This is a scenario that should alert us," he said. Finland's Olli Rehn said there was a particular risk from the escalation of the trade war with the U.S. and the outlook was so complex, the ECB's adverse scenario could not take into account all outcomes. "For example, serious disruptions to supply chains and disruptions in financial markets have been excluded from the analysis," Rehn said in a blog post. Part of the reason inflation could go lower is that Germany, the bloc's biggest economy, will stagnate this year, marking the third year of zero or negative growth as its long-predicted recovery keeps getting pushed further and further out. While Germany's new government plans to sharply increase fiscal spending on defence and infrastructure, this will not significantly boost growth until the end of 2027, the Bundesbank said as it cut growth projections for this year and next. "Concerns about a persistent undershoot may soon resurface, especially if trade tensions escalate, weighing on demand," Oxford Economics said in a note. Others took a more benign view that was more in line with the ECB's view that inflation will rebound and hit the bank's 2% target. "The ECB's 2% inflation target has essentially been achieved," Estonian policymaker Madis Müller said. "The expected economic growth in the next couple of years is also likely to be quite moderate, which means that there is no reason to worry too much about price pressure related to the heating up of the economic environment." Latvia's Martins Kazaks said he was also comfortable with the outlook and made the case for the ECB to take a break in cutting rates, partly to preserve policy space and to await fresh data. "I don't think the market should expect the trajectory of cutting rates at every meeting to continue," he told Reuters. "There is no need and there is value in maintaining policy space."
Yahoo
a day ago
- Yahoo
Supply Chain Technology Expert Luis Solana Joins FourKites' Strategic Advisory Council
Global supply chain leader brings cross-industry expertise to platform's advisory council CHICAGO, May 28, 2025--(BUSINESS WIRE)--FourKites, the global leader in AI-driven supply chain transformation, today announced that Luis Solana, an experienced supply chain executive with expertise across diverse industries and regions, has joined its Strategic Advisory Council. Solana brings extensive experience in end-to-end supply chain management to FourKites' advisory council, where he will provide strategic guidance on product innovation and market expansion. Throughout his career, Solana has led large-scale physical and digital initiatives across best-in-class brands including Henkel, Bridgestone, Coty, Colgate-Palmolive and DHL. His expertise lies in identifying, developing, and scaling supply chain technology platforms to drive EBITDA growth. Fluent in English, Spanish and Portuguese, Solana has lived across the United States, Mexico and Brazil, bringing valuable multi-cultural perspective to his leadership roles. "Supply chain automation represents the next wave of competitive advantage for global enterprises," said Solana. "FourKites has built an AI platform that transforms traditional operations into intelligent, self-orchestrating systems. Companies that embrace these autonomous capabilities will significantly outperform those still relying on manual coordination and reactive management approaches." FourKites' Strategic Advisory Council brings together accomplished supply chain executives with decades of hands-on experience. The Council represents FourKites' commitment to understanding the practical realities supply chain leaders face, ensuring the company's solutions address genuine market needs. "Luis's cross-industry experience and global perspective bring valuable insights to our Council," said Mathew Elenjickal, Founder and CEO of FourKites. "His expertise in scaling supply chain technology initiatives across diverse organizations aligns perfectly with our mission to transform how enterprises manage complex global operations." Solana's appointment follows FourKites' evolution beyond real-time visibility to offer the industry's only Intelligent Control Tower™. This platform combines supply chain network data with digital twins and a Digital Workforce of AI agents that autonomously act on visibility data, preventing disruptions before they occur and orchestrating complex supply chain operations. Solana holds an MBA from Harvard Business School and an industrial engineering degree from Universidad Panamericana. He is accredited by Harvard Business School Executive Education in Foundations of Private Equity and Venture Capital, and in Competing in the Age of Artificial Intelligence. His professional affiliations include membership in the Latino Corporate Directors Association (LCDA), Private Directors Association (PDA), Association for Corporate Growth (ACG), and Blackmore Connects (BMC). He is also affiliated with Tompkins Ventures as Business Partner and Coach, and with Ceiba Capital Partners and Cambridge Capital as a Private Equity Operating Advisor. Luis is also an Investor in Latino entrepreneurial ventures, as a Limited Partner in Angeles Ventures fund, and as an independent investor in Angeles Investors. FourKites' customer co-innovation approach has defined the company since its founding. Through initiatives like the FourKites IdeaExchange, customer challenges directly shape the company's product roadmap, with more than 60% of features originating from customer suggestions. This collaborative approach has produced breakthrough solutions, enabling FourKites to transform how enterprises manage their supply chains. About FourKites FourKites®, the leader in AI-driven supply chain transformation for global enterprises and pioneer of real-time visibility, turns supply chain data into automated action. FourKites' Intelligent Control Tower™ breaks down enterprise silos by creating a real-time digital twin of orders, shipments, inventory and assets. This comprehensive view, combined with AI-powered digital workers, enables companies to prevent disruptions, automate routine tasks, and optimize performance across their supply chain. FourKites processes over 3.2 million supply chain events daily — from purchase orders to final delivery — helping 1,600+ global brands prevent disruptions, make faster decisions and move from reactive tracking to proactive supply chain orchestration. View source version on Contacts Media Relationspress@ 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
TechCrunch
2 days ago
- TechCrunch
Bolttech closes Series C at $147M with a $2.1B valuation to bolster its embedded insurance offerings
For many companies selling ancillary services or products (think insurance), the biggest problem when selling online is having their offering be surfaced at the right moment in the customer's purchase journey — exactly when the customer's most likely to spend that extra dollar to sweeten the deal. With more and more shopping moving online, companies that make this possible by connecting service providers with distributors of products are understandably seeing an uptick in interest, both from customers and investors. One such company, Singapore-based Bolttech, which acts as the connective tissue between insurers, distributors and their target customers, said on Wednesday it has closed a $147 million Series C round of funding at a $2.1 billion valuation. The news comes six months after the company disclosed the first close of its Series C, around $100 million, led by Dragon Fund with participation from Baillie Gifford, Generali and other investors. Japanese conglomerate Sumitomo Corporation and Portuguese investment firm Iberis Capital are among those investing in the new tranche. Founded in 2020 by Eric Gewirtzman and insurance veteran Rob Schimek, Bolltech specializes in embedded insurance — providing insurance or protection products that are integrated into the customer purchase experience. The company has grown fast with its B2B2C approach, quickly raising hundreds of millions in funding, and it says it now connects about 700 distribution partners with more than 230 insurers, covering over 6,500 products across the world. As part of the Series C, Bolttech is also striking up a joint venture with Sumitomo to offer embedded insurance products and comprehensive 'end-to-end services' to partners in Asia. The startup plans to use the fresh cash to enhance its R&D capabilities, and improve its insurance technology, particularly in areas such as data analytics and AI. The funding will also be used to expand further in Africa and North America. We noticed that there hasn't been a noticeable uptick in the number of distribution partners and insurers Bolttech serves compared to the numbers it shared three years ago when it raised its Series B. But the company says its total annualized premiums have increased to approximately $60 billion as of April this year, up from around $55 billion in May 2023. Techcrunch event Save now through June 4 for TechCrunch Sessions: AI Save $300 on your ticket to TC Sessions: AI—and get 50% off a second. Hear from leaders at OpenAI, Anthropic, Khosla Ventures, and more during a full day of expert insights, hands-on workshops, and high-impact networking. These low-rate deals disappear when the doors open on June 5. Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Berkeley, CA | REGISTER NOW We've seen a host of embedded insurtech startups like Qover, Neat and Synctera coming up over the past few years, as more shopping has moved online since the pandemic and insurers try to adapt to changing consumer habits. But Bolttech says it competes with both traditional insurers and a few technology-focused players. 'Sometimes, the competition is simply taking the 'do-it-yourself' approach, where potential partners opt to build solutions in-house. However, we often speak about 'coopetition' (collaborative competition) because in a world with a growing protection gap, the opportunity is vast, and we believe the industry can achieve more by working together to expand access to insurance for customers everywhere,' Schimek told TechCrunch. Bolttech's investor base includes insurers such as Japan's Tokio Marine and MetLife, and it has partnered with major names like Allianz, Apple, AXA, Liberty Mutual, Orange, Progressive, Lazada, Samsung, and Home Credit.
