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Time of India
26 minutes ago
- Time of India
Space and defense firm Firefly's US IPO filing reveals 2024 revenue growth
By Prakhar Srivastava AE Industrial Partners-backed space and defense technology company Firefly Aerospace on Friday disclosed a 10% rise in 2024 revenue in its filing for an initial public offering in the United States. Firefly revealed a revenue of $60.8 million in 2024, compared to $55.2 million the previous year. The U.S. IPO market is witnessing renewed interest and vigor, especially for space listings, as investors return after months of sluggish activity earlier this year triggered by policy shifts and tariff uncertainty under President Donald Trump. "There is a 'window of opportunity' in space-related IPOs," said IPOX CEO Josef Schuster, adding that there was strong investor appetite for space-related offerings. "This is driven by enthusiasm about the growth prospects of the sector." Space firms Voyager Technologies and Karman Holdings received warm welcomes when they debuted listings earlier this year. Texas-based Firefly designs and manufactures small and medium lift launch vehicles, lunar landers and orbital transfer vehicles. It scored its first Moon landing in March with the Blue Ghost spacecraft, joining a handful of private companies competing to reach the frontlines in a global lunar race. Firefly secured a valuation of $2 billion in a November 2024 funding round. It intends to list on the Nasdaq under the symbol "FLY". Goldman Sachs, JPMorgan, Jefferies and Wells Fargo are the lead underwriters for the offering.
Hindustan Times
26 minutes ago
- Hindustan Times
Auto recap, July 11: Tesla to inaugurate its 1st dealership, Toyota Glanza gets 6 airbags and more
Tesla is all-set to launch in the Indian market. (AP Photo/Robert F. Bukaty, File) (AP) Check Offers The automotive sector is undergoing swift transformations, making it challenging to remain updated on all the recent developments. At HT Auto, we are committed to providing the most pertinent and up-to-date information as it emerges. Presented below is a brief summary of the main highlights from Friday, July 11. Toyota Glanza Prestige Edition launched In conjunction with the safety enhancement, Toyota has launched a new limited-time accessory bundle known as the "Prestige Package." This package, which is available until July 31, features a variety of cosmetic enhancements aimed at improving the vehicle's aesthetics and interior experience. The items included in the package consist of chrome-trimmed body side mouldings, premium door visors, rear lamp and lower grille garnishes, illuminated door sills, and a rear skid plate. These accessories are installed by dealers and are provided as an optional upgrade. Apart from this, the premium hatchback also gets 6 airbags as standard. Also Read : Toyota Glanza Prestige Edition launched, now gets 6 airbags as standard Tesla to launch its first experience center Tesla is poised to launch its inaugural experience centre in Mumbai. This centre is situated in Bandra Kurla Complex (BKC) and is scheduled to open on July 15. It is anticipated that Elon Musk will make an appearance at the experience centre, given that it is the first of its kind in our nation. However, this has not been officially confirmed as of yet. This highly anticipated move will formally mark the company's entry into the world's third-largest automotive market. Following Mumbai, the next experience centre may be established in New Delhi. The prominent American electric vehicle manufacturer has begun importing its Model Y rear-wheel drive SUVs from its Shanghai facility, signaling the start of its retail operations in India. As per import records obtained by Bloomberg News, at least five Model Y units have arrived at Mumbai port. Also Read : Tesla to launch its first experience centre in Mumbai on July 15 Renault Boreal unveiled globally The Renault Boreal, a new C-segment SUV, features advanced driver assistance systems, an OpenR Link multimedia system with Google services, and a flexible modular platform. Set to launch in Latin America and Turkey from late 2025, its arrival in India remains uncertain despite growing local interest in mid-size SUVs. Also Read : Renault unveils Boreal SUV based on ultra-flexible modular platform. Will it come to India? Get insights into Upcoming Cars In India, Electric Vehicles, Upcoming Bikes in India and cutting-edge technology transforming the automotive landscape. First Published Date: 12 Jul 2025, 07:15 am IST
Time of India
29 minutes ago
- Time of India
Copper traders rush metal to Hawaii to capture mega tariff trade
Copper traders racing to get cargoes into the US are looking to shift deliveries into Hawaii and Puerto Rico to cut shipment times, as Donald Trump's plan for 50% tariffs threatens to slam the door on a hugely profitable arbitrage trade that has gripped the industry for months. New York futures spiked to a roughly 25% premium over international benchmark prices in the wake of Trump's initial announcement on Tuesday, which means traders who can deliver metal into the US before the new levies stand to capture an even larger profit — or face big losses if the clock runs out. Trump's announcement points to the culmination of a dramatic shift that has played out in the copper market ever since the president first announced plans to put tariffs on copper in February. The resulting surge in US prices prompted an industry-wide dash to deliver metal into the US; stockpiles inside the country have soared, while the rest of the world faced a mounting supply squeeze. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Top 25 Most Beautiful Women In The World Car Novels Undo The shipments had been reducing in scale in recent weeks, as some traders started to brace for a tariff announcement, according to people familiar with the market. But there are still large volumes of copper on their way to US ports, they said. Bloomberg Copper inventories in the US are likely to hit 500,000 tons in the coming weeks, roughly half of which is in the key US storage hub of New Orleans, according to estimates from participants active in the market. Metal is also being stored in Port Panama City in Florida. Live Events Frazzled traders described pulling all-nighters through the turmoil as they responded to Tuesday's news, making decisions over what to do with cargoes already on their way to the US, and whether to try to squeeze in further shipments. While tariffs were eventually expected, 50% was higher than many in the market were betting on. The president confirmed that rate in a social-media post late Wednesday, as well as a plan for it to kick in from Aug. 1. Some traders desperate to get their hands on last-minute metal are willing to pay big premiums — offering close to $400 a ton on top of London Metal Exchange prices — and seeking to divert shipments headed for China toward the US instead, according to people involved in the market, who asked not to be identified discussing commercially sensitive information. Buyers are particularly willing to pay more for brands that are eligible for delivery against Comex contracts, meaning that they could re-sell them on the exchange as a last resort if they cannot find other homes for the copper upon arrival in the US. Shipments from Asia to New Orleans typically take over a month, so any traders sending metal now would risk being caught on the wrong side of the tariffs, which are due to become effective at the start of next month. But the journey to Hawaii is roughly ten days, and at least one trader has already completed a shipment to the Pacific state, according to a person familiar with the matter. For producers in South America, Puerto Rico is a similarly attractive delivery point because it is part of the US customs territory, some of the traders said. In Chile, the key supplier of copper to the US, mining companies have been huddled in meetings to discuss how to prioritize shipments to the US through the end of July under their agreements with existing customers. Trump's announcements means that traders now face a race against time — especially those that paid large premiums to get their hands on copper cargoes. They stood to make a huge profit shipping that metal to the US, but now face the risk that the tariffs will be implemented while the metal is on the water. Traders are also wrestling with a long list of unknowns. Besides the timing, Trump's remarks leave questions over which types of copper will be subject to tariffs. Previous metal tariffs imposed by the administration have also exempted cargoes already on the water when the levies take effect, providing potential wiggle room for traders willing to take that risk. The size of the gap between New York and London prices — far below 50% — also suggests a level of uncertainty about whether a 50% tariff will really be universally applied on refined copper imports.
