Latest news with #governmentContracts
Daily Mail
6 days ago
- Daily Mail
Australia's missing '$11.5million man's' insulting sledge to his adopted country before disappearing 'with taxpayer cash' after putting the bins out: 'White people's money'
A government bureaucrat accused of pocketing millions in bribes joked to associates about taking 'white people's' money, an Independent Commission Against Corruption inquiry has heard. Former Transport for NSW procurement officer Ibrahim Helmy, 38 - the alleged mastermind of a $343million corruption scheme involving the alleged rigged government contracts - has been on the run from authorities since May. He was last seen putting the bins out on a Sunday night but failed to return, according to his family. NSW Police issued an arrest warrant for Helmy last month after he failed to appear before the ICAC inquiry, Operation Wyvern, which has since entered its fourth week. The inquiry heard explosive claims this week that Helmy boasted about the money he allegedly pocketed. An associate texted that he 'likes white people giving us money', the Daily Telegraph reported. Helmy allegedly responded: 'It's like they're giving us money to live in their country'. In another text, he allegedly bragged: 'We're here in their country taking their money.' The associate allegedly mocked that 'they are all the same, making us money' in another exchange. Helmy allegedly replied: 'That's right… all (a) bunch of Aussies'. He is alleged in ICAC hearings to have received $11.5million in kickbacks – including bundles of cash, gold bullion, and cryptocurrency – from contractors in return for them being awarded work on the state's roads. Helmy worked for Transport for NSW for 15 years until his employment was terminated earlier this year. The ICAC inquiry this week also heard from Wayne Harrison, the director of Kerway Asphalting Pty Ltd, which was allegedly paid $35 million by Transport for NSW over a five-and-a-half-year period up until May 2025. He recalled how he learned of the ICAC investigation through the media and Helmy's reaction to the probe in subsequent calls. 'I said to him, 'I heard someone in your office is in trouble'… but I didn't know it was him (Helmy),' Mr Harrison told the inquiry. 'He said it was old news that happened four years ago.' The inquiry also heard how Helmy allegedly demanded $800,000 in cash from Mr Harrison, who pushed back. 'I know you've got that sort of money,' Helmy replied before he allegedly produced a private document detailing Kerway Asphalting's finances. When Mr Harrison asked how he obtained it, Helmy allegedly replied: 'I've got ways.' Gold, platinum and silver bars, gold nuggets, bundles of cash totalling $12,317, and a Maserati were seized during a raid by ICAC and the NSW Crime Commission on Helmy's Merrylands home in western Sydney last September. The probe led to raids on the head office of Protection Barriers, one of the state's biggest roadworks companies. The business secured significant deals worth more than $110million from Transport for NSW for road safety work. Luxury cars were seized from the company's headquarters in northern NSW before the firm fell into voluntary administration in March. The inquiry, presided over by ICAC Chief Commissioner John Hatzistergos, is expected to run for another two weeks. It's the fourth public inquiry into Transport for NSW since 2019.
Al Jazeera
04-07-2025
- Business
- Al Jazeera
From Gaza to ICE raids, why is US firm Palantir under scrutiny?
From Gaza to ICE raids, why is US firm Palantir under scrutiny? NewsFeed From anti-immigration raids, Gaza kill lists and lucrative government contracts, US data firm Palantir has been under increasing scrutiny. Soraya Lennie breaks it down. Video Duration 01 minutes 08 seconds 01:08 Video Duration 01 minutes 43 seconds 01:43 Video Duration 01 minutes 36 seconds 01:36 Video Duration 01 minutes 59 seconds 01:59 Video Duration 02 minutes 53 seconds 02:53 Video Duration 02 minutes 25 seconds 02:25 Video Duration 03 minutes 08 seconds 03:08
Yahoo
20-06-2025
- Business
- Yahoo
Will BigBear.ai's $384.9M Backlog Drive H2 Acceleration?
Holdings, Inc.'s BBAI AI-based portfolio of offerings is at a juncture where the demand for national security and mission-critical needs meet. The increasing spending by the United States on travel, trade and border security has elevated the company's revenue visibility. Its diversified portfolio of AI-based solution providers has given it a competitive edge to secure large-scale, long-term government contracts, thus boosting its backlog growth. As of March 31, 2025, BBAI's backlog grew 30% year over year to $384.9 company enjoys a competitive advantage across the market due to its commercial and software solutions like Pangiam Threat Detection, veriScan, Trueface, Pro Model AI, ConductorOS, and Moreover, its continuous efforts on innovation to align its services directly with the market needs act as a catalyst. recent agreement with the U.S. Department of Defense Joint Staff J35's Orion Decision Support Platform validates its relevance in mission-critical AI solutions backed by the government's increased spending toward national on the tailwinds, retained its 2025 outlook, with revenues expected between $160 million and $180 million, up 1.1-13.8% year over year. However, the ongoing market risks, increased operating expenses and potential delay threats are what the company needs to be wary of in the near and based on the favorable market fundamentals, the Zacks Consensus Estimate for revenues indicates growth acceleration for the second half of 2025. Revenue estimates for the third and fourth quarters are expected to witness 6.3% and 7.3% growth rates, respectively, with the average growth rate coming around 6.8%. Revenues grew 5% in the first quarter and we expect 3% growth in the second quarter. This means the average revenue growth for the first half of the year is expected to be around 4%. It can be deduced that, comparatively, the second half of 2025 is expected to reflect accelerated top-line growth. Sharing the market space with other renowned players like Inc. AI and Booz Allen Hamilton Holding Corporation BAH are also in favorable waters of market demand, resulting in increased contract wins and is a California-based information technology company that specializes in enterprise Artificial Intelligence. Its consistent focus on innovations has positioned it well to increase its bookings position and expand strategic alliances. During its fourth quarter of fiscal 2025, reported innovations in agentic AI with the renewal and expansion of the agreement with its long-standing partner, Baker Hughes. In the fourth quarter of fiscal 2025, partner-supported bookings grew 419% year over year, with the company closing 59 agreements through its partner network, including Microsoft, AWS, Google Cloud and McKinsey & Company, to name a Allen Hamilton is a Virginia-based company that specializes in intelligence, AI and digital transformation. Its robust consulting-led AI deployment across defense and homeland security missions position it well in the market to grab notable federal opportunities. As of fiscal 2025, Booz Allen Hamilton's total backlog was $37.03 billion, up 15.3% year over year. Shares of this Virginia-based AI-powered decision intelligence solutions provider have trended upward 33.4% in the past three months, significantly outperforming the Zacks Computers - IT Services industry, the Zacks Computer and Technology sector and the S&P 500 index. Image Source: Zacks Investment Research BBAI stock is currently trading at a discount compared with the industry peers, with a forward 12-month price-to-sales (P/S) ratio of 6.53X, as evidenced by the chart below. The discounted valuation of the stock, compared with its peers, advocates for an attractive entry point for investors. That said, in the long term, the valuation could move toward a premium, given the favorable market fundamentals backing the company's revenue visibility. Image Source: Zacks Investment Research BBAI's earnings estimates for 2025 and 2026 have trended downward in the past 60 days to a loss per share of 41 cents and 21 cents, respectively. However, the estimated figures for 2025 and 2026 imply year-over-year growth of 62.7% and 49.2%, respectively. Earnings Estimate Revision Image Source: Zacks Investment Research BBAI stock currently carries a Zacks Rank #4 (Sell).You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Inc. (AI) : Free Stock Analysis Report Booz Allen Hamilton Holding Corporation (BAH) : Free Stock Analysis Report Holdings, Inc. (BBAI) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research 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
NHK
07-06-2025
- Business
- NHK
Trump says he has no plans to speak with Musk
US President Donald Trump has dismissed the idea of trying to fix his relationship with billionaire entrepreneur Elon Musk anytime soon, in a sign of a deepening rift between the once close allies. Musk resigned from a key government post late last month. Their relationship has since been rapidly deteriorating over Trump's signature bill featuring tax cuts, which Musk has harshly criticized. The pair have been trading barbs on social media. On Friday, Trump told reporters he has been so busy working on many issues that he isn't thinking about Musk. He added, "I just wish him well." Asked whether he has any plans to speak with Musk, Trump said, "I don't have any plans," and added he is not even thinking about that. Trump also said Musk gets a lot of subsidies, hinting again at the possibility of reviewing government contracts with Musk's businesses. Meanwhile, Musk floated the idea of founding a new political party, citing the results of a poll on his social media platform X. He said in a post: "A new political party is needed in America to represent the 80% in the middle! And exactly 80% of people agree. This is fate."
Al Jazeera
06-06-2025
- Business
- Al Jazeera
Trump live: US president ‘not interested' in talking to Musk, official says
The feud between United States President Donald Trump and billionaire Elon Musk continues to simmer, with a White House official telling reporters that there are no plans for a call between the two tensions between Musk and Trump surfaced in a high-profile way on Thursday, with the president threatening to yank government contracts from Musk's companies and Musk suggesting Trump should be latest report from the Labor Department shows the US job market holding steady, with approximately 139,000 jobs added in May, despite economic turbulence from Trump's tariff military veterans are rallying in Washington, DC, to mark the anniversary of the D-Day offensive during World War II — and to show opposition to any cuts to their benefits. Update: Date: 3m ago (14:17 GMT) Title: Here's what has been happening this week Content: Trump has fallen out with his former adviser Elon Musk, with the billionaire bashing the president's tax bill and suggesting that he should be impeached. On Thursday, US Secretary of State Marco Rubio announced sanctions on International Criminal Court judges over their investigations of possible war crimes by Israel and US troops. And on Wednesday, Trump imposed a ban on travellers from 12 countries, including Afghanistan, Myanmar, Chad, Haiti, Iran, Libya, Somalia, Sudan and Yemen, and restrictions on seven others. Also this week, the US president spoke to his Chinese counterpart Xi Jinping as the two countries agreed to resume trade talks. Update: Date: 5m ago (14:15 GMT) Title: Welcome to our coverage Content: Hello and thank you for joining our live coverage of United States President Donald Trump's administration. Stay with Al Jazeera's Live team as we bring you all the latest developments, analysis and reactions throughout the day.
