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Yahoo
2 days ago
- General
- Yahoo
ISIL (ISIS) launches first attacks against new Syrian government
ISIL (ISIS) has claimed responsibility for an attack on the Syrian army, representing the armed group's first strike at government forces since the fall of Bashar al-Assad, according to analysts. In a statement released late on Thursday, ISIL said its fighters had planted an explosive device that struck a 'vehicle of the apostate regime' in southern Syria. The bombing appears to mark an escalation by ISIL, which views the new government in Damascus as illegitimate but has so far concentrated its activities against Kurdish forces in the north. The blast, in the al-Safa desert region of Sweida province on May 22, reportedly killed or wounded seven Syrian soldiers. A second bomb attack, claimed by ISIL earlier this week, targeted fighters from the United States-backed Kurdish-led Free Syrian Army in a nearby area. ISIL said one fighter was killed and three injured. There has been no official comment from the Syrian government, and the Free Syrian Army has yet to of the new Syrian government that replaced al-Assad after his removal in December once had ties to al-Qaeda – a rival of ISIL – but broke with the group nearly a decade ago. However, over the past several months, ISIL has claimed responsibility only for attacks against the Syrian Democratic Forces in the northeast. The United Kingdom-based Syrian Observatory for Human Rights said the convoy blast was the first ISIL-claimed operation targeting the new Syrian military. ISIL was territorially defeated in Syria in 2019 but maintains sleeper cells, particularly in the country's central and eastern deserts. While the group's capacity has been diminished, the latest attacks suggest it may be seeking to reassert itself amid shifting alliances and weakening state control.
Yahoo
3 days ago
- Business
- Yahoo
Fusion Fuel Green PLC Signs Non-Binding Heads of Terms for Strategic UK Energy Distribution Acquisition
DUBLIN, May 27, 2025 (GLOBE NEWSWIRE) -- Fusion Fuel Green PLC (Nasdaq: HTOO) ('Fusion Fuel' or the 'Company'), a provider of integrated energy solutions, today announced that it has executed non-binding Heads of Terms ('Heads of Terms') with a privately-held United Kingdom-based fuel distribution business ('Target') to acquire 100% of the equity of Target and certain related companies from their existing shareholders. The signing of the Heads of Terms follows the signing of a non-binding Letter of Intent between the parties, which was previously announced by the Company on April 9, 2025. For the fiscal year ending April 30, 2024, Target generated revenues of approximately $50 million and net income of approximately $5 million. Target showed strong growth in the following fiscal year ending April 30, 2025, achieving revenues of approximately $58 million and net income of approximately $7 million. As of April 30, 2025, Target had no debt except for approximately $1 million under a revolving credit line. 1 Under the Heads of Terms, subject to execution of one or more definitive agreements with the existing shareholders of Target, Fusion Fuel will acquire the entire share capital of Target for total consideration of £50 million, consisting of £40 million in debt-financed cash and £10 million in Fusion Fuel ordinary shares in accordance with certain shareholder approval and securities registration requirements. The Heads of Terms include equity value protection provisions with respect to the equity portion of the purchase price, consisting of certain downside price protection terms for the sellers, a buy-back option, and an upside cap provision. It is anticipated that the definitive agreements will contain customary representations, warranties and covenants made by Fusion Fuel, Target, and Target's shareholders, including covenants relating to the parties using their commercially reasonably efforts to cause the transactions contemplated by the agreement to be satisfied, covenants regarding obtaining the requisite approvals of directors and shareholders, indemnification of directors and officers, and Fusion Fuel and Target's conduct of their respective businesses between the date of signing of definitive agreements and the closing, and other customary conditions to closing. It is anticipated that definitive agreements will also contain certain termination rights for both Fusion Fuel and Target, and, in connection with the termination of any such definitive agreements under certain circumstances, Fusion Fuel and Target may be required to pay the other party a termination fee. Entry into definitive agreements will also be subject to: (i) legal, tax and accounting structuring advice, (ii) the satisfactory completion of due diligence investigation by the parties on all aspects of business, operations, financial condition and other assets and liabilities appropriate for a transaction of this nature, and (iii) the satisfaction of the conditions described in the Heads of Terms. Although generally non-binding, the Heads of Terms contain certain binding exclusivity and confidentiality terms and other binding terms and provisions. The Heads of Terms provides that Target will not solicit or negotiate with other parties for 90 days from signing of the Heads of Terms. John-Paul Backwell, CEO of Fusion Fuel, commented: "The Heads of Terms mark another significant step in our growth journey. Target represents a strong and profitable business that complements our strategy of building a synergistic, diversified portfolio across the energy value chain. In particular, Target has a complimentary business to our Al Shola Gas brand, and has the potential to support and expand its service offerings.' About Fusion Fuel Green PLC Fusion Fuel Green PLC (NASDAQ: HTOO) is a growing energy company providing engineering, advisory, and fuel distribution solutions through its brands Al Shola Gas and BrightHy. The Company services clients across commercial, residential, and industrial sectors and is actively expanding into new verticals and geographies to support energy transition and infrastructure resilience. Forward-Looking Statements This press release contains 'forward-looking statements.' Forward-looking statements may be identified by the use of words such as 'estimate,' 'plan,' 'project,' 'forecast,' 'intend,' 'will,' 'expect,' 'anticipate,' 'believe,' 'seek,' 'target', 'may', 'intend', 'predict', 'should', 'would', 'predict', 'potential', 'seem', 'future', 'outlook' or other similar expressions (or negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Such risks and uncertainties include, without limitation, the Company's ability to enter into a definitive share purchase agreement with the shareholders of Target, the ability of the parties to complete their due diligence and all other closing conditions, the Company's ability to complete the proposed acquisition and integrate Target's business, the parties' ability to obtain all necessary regulatory and other consents and approvals in connection with the transaction, the ability of Target to complete the audit process and the possibility that the reported results of its operations for its fiscal years ended April 30, 2025 and 2024 will change materially upon completion of the audit process, and those set forth in Fusion Fuel's Annual Report on Form 20-F for the year ended December 31, 2024, filed with the Securities and Exchange Commission on May 9, 2025, which could cause actual results to differ from the forward-looking statements. These risks, uncertainties and other factors are, in some cases, beyond the parties' control and could materially affect results. If one or more of these risks, uncertainties or other factors become applicable, or if these underlying assumptions prove to be incorrect, actual events or results may vary significantly from those implied or projected by the forward-looking statements. No forward-looking statement is a guarantee of future performance. All subsequent written and oral forward-looking statements concerning the Company or other matters and attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law. Investor Relations Contactir@ Wire Service Contact:IBNAustin, OfficeEditor@ ____________________ 1 Target's financial results for the fiscal years ended April 30, 2025 and 2024 are subject to audit or re-audit, and actual results are subject to adjustment following completion of the audit process. There is no assurance that the audited or re-audited results of Target will not differ materially from those stated in to access your portfolio
Yahoo
3 days ago
- Business
- Yahoo
City Council approves grant for neurotech startup
The Bakersfield City Council approved a $250,000 grant for a United Kingdom-based neuroscience startup that local educators and business leaders hope will bring high-paying, skilled jobs to the area. Since last year, BIOS Health has been looking to open its first office in the United States and the company's founder, Emil Hewage, said he's been looking at Bakersfield as a place to put down roots. BIOS uses AI-enhanced neural scanning to help develop medicines and is looking at Bakersfield to start running clinical trials. The city's $250,000 grant, drawn from the city's Public Safety and Vital Services funding, would help the company set up a clinical and commercial hub. "Our vision for Bakersfield was to work to build capability here where we could bring at least one groundbreaking clinical trial to this town with our supply chain by 2027," Hewage said Wednesday. "That's a long journey, but a single clinical trial can bring over $100 million of economic impact by one trial alone. To be specific, we're pioneering new medications in epilepsy, new breakthroughs in cardiovascular medicine, respiratory issues, and autoimmune conditions, which are all huge indications in this region." The company is providing $1.5 million in equipment and is partnering with Cal State Bakersfield to develop trained workers. "We hit the jackpot with Emil and BIOS," said Kristen Watson, chief of staff to CSUB President Vernon B. Harper Jr. "He understands the innovative spirit that Bakersfield has been built on," Watson said. "Through BIOS and through this precision medicine hub, we have the opportunity to turn health care, which has been an internal business entity here for Bakersfield, into a traded sector, which is foundational to economic prosperity and economic development." BIOS has already been working with local companies and investors, and is hoping to expand its local operations. The company has offices in Cambridge, United Kingdom and Montréal, Canada. The City Council approved the agreement unanimously. In other business, the City Council approved the purchase of security cameras for all of the city's parks not totaling more than $300,000. The council also approved a $550,000 grant for the St. Vincent de Paul Society of Bakersfield to upgrades its bathrooms and kitchen for its center serving homeless people.
Newsweek
4 days ago
- Business
- Newsweek
Has Elon Musk Set Up a New Texas Company? What We Know
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Elon Musk appears to have incorporated a new company in Texas, according to business filings reviewed by Newsweek. There has been considerable interest in the corporate activities of Musk, the world's richest person, particularly as he has assumed greater political significance as one of President Donald Trump's close allies. Known foremost for his role in business, Musk stepped into the political sphere through his support for Trump in the 2024 presidential election. When Trump won, he appointed Musk to head the unofficial Department of Government Efficiency (DOGE). However, he has since indicated plans to pivot back to business. In May, he said he plans to cut back on political spending, telling a conference he had "done enough." He has also recently taken a step away from his political role to focus on Tesla and SpaceX. The new firm, Thriving Capital Ventures, LLC, was incorporated on May 9, 2025, and lists Musk, along with two other individuals, as a manager. The corporate filings do not indicate the purpose of the business. Anyone can be named on corporate filings, so Newsweek cannot verify if this company was definitely registered by the people named in the business filings, or if it was filed fraudulently. Newsweek reached out to Musk via Tesla for comment. Elon Musk attends a Cabinet meeting at the White House on April 30, 2025. Elon Musk attends a Cabinet meeting at the White House on April 30, 2025. AP Photo/Evan Vucci Yair Cohen, a United Kingdom-based lawyer specializing in internet law, told Newsweek that the formation of the new business suggests "Musk is gearing up for something bigger" and is working quietly to give himself time and space to organize the company. Another manager listed with the business is Dr. Omar N. Alsewaidi, who is based in Oakville, Ontario, Canada. There is a family physician at a medical clinic in the same area named Dr. Alsewaidi, but Newsweek cannot confirm if this is the same individual, as the doctor did not respond to a request for comment. The third manager is Essam M. Aboud, whose address is registered in São Paulo, Brazil. Cohen said using international partners might suggest Musk's new business will have global reach. "Musk often thinks on a global scale, and we've seen him bring in international partners or investors for his projects, like when he launched Gigafactories in China and Germany, or attracted overseas investment for xAI," he said. "Having organizers from Canada and Brazil might hint that he's planning something with a broader reach, or just keeping his options open internationally." Thriving Capital Ventures is registered to a private office block in the northeast of Dallas, Texas, a stone's throw away from the George W. Bush Presidential Center. The office block offers physical offices and virtual offices for fully remote businesses. It is not clear whether Thriving Capital Ventures is using the office space physically or virtually. Lawyer's Aid Service, an Austin, Texas-based corporate filing service company that assists individuals in forming corporations, is listed as an agent in the business. Lawyer's Aid Service's clients are primarily attorneys and law firms, although they also take on other clients, according to their website. "It's actually pretty classic Musk to quietly set up a new company like this," Cohen said. "He's done it before when he was about to make big moves. For example, before he bought Twitter, he created X Holdings behind the scenes to manage the deal. He did something similar with xAI, his artificial intelligence company, and The Boring Company as both were incorporated quietly before he went public with their missions." "As for not announcing it publicly yet, that's not unusual for him," he added. "Musk tends to keep things under wraps until he's ready to make a splash, probably to avoid too much speculation or to give himself room to pivot if needed. "So, in short: This move suggests Musk is gearing up for something bigger, possibly a new wave of investments or ventures, and he's doing it in his usual, quietly strategic way. The international connections might mean he's thinking beyond the U.S. from the start." Musk has other widely publicized business endeavors. He is building a corporate campus in Bastrop, Texas, located approximately 30 minutes east of Austin. Court filings reported by the BBC indicate that a large metal building in the area will serve as the new headquarters of X. The area will also be home to Musk's infrastructure company, The Boring Company, and a SpaceX facility that manufactures Starlink satellite internet equipment. Musk has also built a SpaceX facility in Cameron County, Texas, near the border with Mexico. In May, residents approved to make the area a city called Starbase. The registered address of Thriving Capital Ventures is around a nine-hour drive from Starbase and a three-and-a-half-hour drive from Bastrop.
Business Wire
4 days ago
- Business
- Business Wire
Andersen Consulting Adds Stratence Partners
SAN FRANCISCO--(BUSINESS WIRE)--Andersen Consulting expands its platform through a Collaboration Agreement with Stratence Partners, a United Kingdom-based consulting firm assisting global companies to improve market share and drive profitability through pricing excellence, strategy optimization, commercial effectiveness and digital transformation. With a results-driven approach and a commitment to sustainable change, Stratence Partners empowers clients through a unique blend of consulting, interim management, and training services, accompanied by proprietary methodologies and data management, data science (AI), tools and systems solutions. 'Collaborating with Andersen Consulting is an exciting step for our firm,' said Fernando Ventureira, managing director of Stratence Partners. 'In our work with C-Suite clients around the globe, we recognize their needs extend beyond strategic pricing and operational excellence. Our clients value one-stop solutions of the highest quality and Andersen's strong reputation and integrated global platform, make them an ideal ally. Together, we are well-positioned to help organizations not just adapt to change, but lead it—delivering strategic clarity, operational excellence, and profitable growth.' Global Chairman and CEO of Andersen Mark L. Vorsatz added, 'Stratence's industry expertise and innovative frameworks are a strong complement to our existing capabilities not only in consulting but also tax, legal and valuation. In addition to being a great cultural fit, the capabilities of Fernando and his team strengthens our seamless, multidimensional service model.' Andersen Consulting is a global consulting practice providing a comprehensive suite of services spanning corporate strategy, business, technology, and AI transformation, as well as human capital solutions. Andersen Consulting integrates with the multidimensional service model of Andersen Global, delivering world-class consulting, tax, legal, valuation, global mobility, and advisory expertise on a global platform with more than 20,000 professionals worldwide and a presence in over 500 locations through its member firms and collaborating firms. Andersen Consulting Holdings LP is a limited partnership and provides consulting solutions through its member and collaborating firms around the world.
