Streetbeat News

Assets

TRP

TC Energy Corporation has announced a deal to sell a 40% interest in its Columbia Gas Transmission and Columbia Gulf Transmission systems to Global Infrastructure Partners for $5.2 billion. The deal implies an enterprise value to a comparable EBITDA multiple of approximately 10.5 times TC Energy's base 2023 outlook.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 11:42 am

LCAA

Lotus Technology Inc., a luxury electric vehicle maker, has expanded its global retail network to 1931 stores, opening 24 new outlets in the first half of 2023. The company plans to further develop its global distribution network, targeting over 300 stores by the end of 2025. L Catterton Asia Acquisition Corp (NASDAQ:LCAA), a blank check company, is incorporated for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities.

Portfolio Pulse from Charles Gross

July 24, 2023 | 11:36 am

EWG

Germany is preparing €20 billion in aid to boost chip production. The funds, to be distributed to both German and international companies by 2027, will be drawn from the Climate and Transformation Fund.

Portfolio Pulse from Charles Gross

July 24, 2023 | 11:21 am

QNCX

Quince Therapeutics, Inc. (NASDAQ:QNCX) has announced plans to acquire EryDel SpA, a late-stage biotech company. The deal involves a stock-for-stock upfront exchange and potential downstream milestone cash payments totaling up to $485 million. Upon completion, EryDel stockholders will own up to 16.7% of the combined company. The transaction will also include the assumption of EryDel's $13 million European Investment Bank loan.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 11:05 am

FXI

China's forex regulator has announced that eligible science and technology enterprises may participate in the cross-border financing facilitation business, according to Reuters.

Portfolio Pulse from Charles Gross

July 24, 2023 | 10:58 am

GIB

CGI plans to invest $1B over the next three years to expand its AI services. The investment will be used for expanding AI-related consulting services, responsible and ethical-use delivery platforms, intellectual property AI-enablement, global employee hiring and training, and operational excellence efficiencies.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 10:36 am

FXI

China's Politburo plans to accelerate the issuance and usage of local government special bonds and increase the number of international flights, according to Reuters.

Portfolio Pulse from Charles Gross

July 24, 2023 | 9:26 am

FXI

China's Politburo plans to implement a series of measures to address local government debt issues, promote the sustainable development of platform companies, and ensure the secure development of artificial intelligence, according to Reuters.

Portfolio Pulse from Charles Gross

July 24, 2023 | 9:22 am

EWU

The S&P Global/CIPS UK Manufacturing Purchasing Managers Index has dropped to 45.0, lower than the estimated 46.1 and the prior figure of 46.5.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 8:33 am

EWU

The S&P Global/CIPS UK Composite Purchasing Managers' Index (PMI) has dropped to 50.7, lower than the estimated 52.4 and the prior 52.8. This indicates a slowdown in the UK's economic activity.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 8:33 am