Stonepeak buys Italy’s component maker Forgital from Carlyle

MILAN (Reuters) -Private equity firm Carlyle has agreed to sell Italian firm Forgital, which manufactures forged components mainly for the aerospace sector, to U.S. alternative investment firm Stonepeak, the two companies said on Monday. The deal values the Italian company more than 1.5 billion euros ($1.6 billion) including debt, two sources close to the matter …

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US specialty vehicle maker Shyft to merge with Switzerland-based Aebi Schmidt

(Reuters) -Shyft Group and Switzerland-based Aebi Schmidt will merge in an all-stock deal, the companies said on Monday, sending the U.S. specialty vehicle maker’s shares up 13%. Michigan-based Shyft, which has a market value of about $439 million according to data compiled by LSEG, manufactures and assembles specialty vehicles such as work trucks and recreational …

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India’s solar energy agency changes bidding policy after Adani bribery allegations, says source

By Sarita Chaganti Singh and Krishna N. Das NEW DELHI (Reuters) – An Indian government agency charged with promoting renewable energy has changed the way it issues power tenders to reduce the risk of corruption after U.S. allegations of bribery in some tenders, said an official with direct knowledge of the matter. The Solar Energy …

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Lockheed forms subsidiary to help defense companies adopt AI

(Reuters) – Lockheed Martin said on Monday it had formed a subsidiary that will help U.S. defense companies incorporate artificial intelligence into their operations. Companies across sectors have leaned more on AI over the past few years to help optimize their workflow. However, defense companies have remained cautious given the sensitive data required to train …

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Eleven Indians dead in accident at Georgian ski resort, embassy says

TBILISI (Reuters) – Eleven Indian citizens were among twelve victims of an accident at an Indian restaurant in the Georgian ski resort of Gudauri, the Indian Embassy said on Monday. According to a preliminary report from the Georgian Interior Ministry, the victims, which included one Georgian citizen, were found dead inside the restaurant after using …

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Mayotte cyclone kills several hundred, maybe thousands, in worst storm in century

By Michel Rose and Abdou Moustoifa PARIS/MORONI (Reuters) -Several hundred people and possibly even thousands may have been killed when the most powerful cyclone in nearly a century hit the French Indian Ocean archipelago of Mayotte, a senior local French official said on Sunday. “I think there will certainly be several hundreds, maybe we will …

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Ukraine says it has laser weapon able to down targets flying at over 2km

(Reuters) – Ukraine possesses a laser weapon capable of shooting down airborne targets at an altitude of more than 2 kilometres (1.2 miles), the country’s drone forces commander said on Monday. The military official, Vadym Sukharevskyi, did not provide any more details in his first official remarks about the existence of the weapon. Reuters was …

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Allianz withdraws $1.63 billion offer for Singapore’s Income Insurance

By Yantoultra Ngui SINGAPORE (Reuters) – German insurer Allianz has withdrawn its offer to acquire at least 51% of Singapore’s Income Insurance for about $1.63 billion, the company said in a statement on Monday. Reuters reported on Dec. 13 that the insurer had scrapped the proposed acquisition. Allianz, which unveiled its offer in July, said …

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