Al Marzooqi: $1B Acquisition Cements Tabreed's Position
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Tutor Perini Building Corp. Awarded $220 Million Eagle Mountain Casino Phase 2 Expansion
LOS ANGELES, July 02, 2025--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC) (the "Company"), a leading civil, building and specialty construction company, announced today that its subsidiary, Tutor Perini Building Corp., has been awarded a contract by the Tule River Gaming Authority valued at approximately $220 million for the Eagle Mountain Casino Phase 2 Expansion. The project is located in Porterville, California. The scope of work includes construction of a new 193-room tower with a rooftop restaurant, a central warehouse and offices, expansion of an existing restaurant, a new 2,000-seat events center with convention space, breakout meeting rooms, pre-function space, and new hotel amenities, including a new spa, arcade and resort pool. Work is expected to commence in the summer of 2025 with substantial completion anticipated in 2027. The contract value is being incrementally added to the Company's backlog, beginning with the preconstruction phase award that was booked in the second quarter of 2025 and later this year as subsequent construction phases are anticipated to be awarded by the customer. About Tutor Perini Corporation Tutor Perini Corporation is a leading civil, building and specialty construction company offering diversified general contracting and design-build services to private customers and public agencies throughout the world. We have provided construction services since 1894 and have established a strong reputation within our markets by executing large, complex projects on time and within budget while adhering to strict safety and quality control measures. We offer general contracting, pre-construction planning and comprehensive project management services, and have strong expertise in delivering design-bid-build, design-build, construction management, and public-private partnership (P3) projects. We often self-perform multiple project components, including earthwork, excavation, concrete forming and placement, steel erection, electrical, mechanical, plumbing, heating, ventilation and air conditioning (HVAC), and fire protection. View source version on Contacts Tutor Perini CorporationJorge Casado, 818-362-8391Senior Vice President, Investor Relations and Corporate 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
Yahoo
43 minutes ago
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German pharma giant Merck takes over US cancer specialist
German pharmaceutical giant Merck has completed a €3 billion ($3.5 billion) takeover of US biopharmaceutical company Springworks Therapeutics, the firm confirmed on Tuesday. With the acquisition, Merck intends to build a business around the treatment of rare tumours, where it sees a therapeutic gap. "Many of those affected are still young and face a lengthy treatment path with an uncertain outcome and only limited treatment options," said Danny Bar-Zohar, head of Merck's pharmaceuticals division. Springworks already has a drug approved in the US for the treatment of progressive soft tissue tumours and for a disease with benign tumours on the skin or nerves. Both drugs could soon also be given the green light in the EU. The deal is the largest for Merck's pharmaceutical unit in nearly 20 years. Merck chief executive Belén Garijo described the acquisition as "pioneering." Garijo told dpa that both Springworks therapies could become blockbuster drugs in the future, meaning that each could generate sales of at least $1 billion per year for Merck. The acquisition of Springworks is a "transformative step," the manager explained. It will allow Merck to expand its business in the US, focus more on rare diseases and accelerate growth. At the same time, Garijo did not rule out further acquisitions, above all in the business with products for pharmaceutical research and drug manufacturing. Merck's pharmaceuticals division has recently shown solid growth. However, the group is under pressure to bring new drugs onto the market. Several promising drugs that were supposed to bring billions into Merck's coffers have failed in clinical trials. The acquisition of Springworks, the largest in the pharma division since the purchase of the Swiss group Serono in 2007 for €10.3 billion, is expected to directly increase Merck's sales. Merck's last major acquisition was the US semiconductor supplier Versum Materials in 2019, worth around €5.8 billion. 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
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FPT and Standard Chartered-Backed audax Financial Technology Announce Strategic Partnership, Targeting 100M USD Revenue
Targeting USD 100M Revenue: FPT and audax Financial Technology aim to generate USD 100 million in revenue over the next three years, driving digital banking innovation across Asia Pacific and the Middle East. Strategic Regional Partnership: FPT becomes audax's partner in Asia Pacific and the Middle East, providing expertise in cloud-native development, testing, and long-term operational support to accelerate digital banking transformation. Empowering Financial Inclusion: By leveraging audax's plug-and-play digital banking platform and FPT's robust integration capabilities, the partnership will empower financial institutions to modernize legacy systems, adopt Banking-as-a-Service, and drive financial inclusion across underbanked populations. HO CHI MINH CITY, Vietnam, July 02, 2025--(BUSINESS WIRE)--Global IT services provider FPT has formed a strategic alliance with audax Financial Technology (audax), a comprehensive digital banking technology solutions provider backed by Standard Chartered. This partnership aims to deliver scalable, secure, and innovative digital banking experiences to financial institutions across the fast-growing Asia Pacific and Middle East regions, with a target revenue of USD 100 million over three years. Under this agreement, FPT becomes audax's largest regional partner in Asia Pacific, taking on a key role in development, testing, deployment, and long-term operational support. The partnership combines audax's plug-and-play digital banking platform with FPT's deep capabilities in cloud-native development, microservices architecture, DevSecOps, and agile delivery. With significant portions of the population in Asia Pacific remaining underbanked, this joint offering empowers financial institutions to modernize legacy systems and enhance new ones, while adopting innovative models such as embedded finance and Banking-as-a-Service to drive financial inclusion and meet the growing demand for digital financial services. This strategic partnership positions FPT and audax to strengthen their presence in the digital banking solutions market in Asia Pacific and the Middle East, two of the world's most dynamic fintech regions. The Asia Pacific digital banking market is projected to surge by 110%, reaching USD 360 billion by 2030, while the Middle East digital banking market is expected to grow by 58%, hitting USD 2.6 billion by 2030. These figures underscore the immense potential for innovation and growth. "Fintech is reshaping the global financial services landscape, and there is a growing demand for trusted partners capable of delivering and scaling innovative, AI-enabled solutions. Building on our nearly three decades of experience in the financial services domain, and a longstanding partnership with Standard Chartered Ventures across multiple strategic projects, we will accelerate digital banking transformation and help our customers expand access to secure, future-ready financial services," stated Pham Minh Tuan, FPT Software Chief Executive Officer and Executive Vice President, FPT Corporation. "We're excited to join forces with FPT to deliver a flexible, cloud-native solution that meets the evolving needs of banks," said Kelvin Tan, Chief Executive Officer at audax. "Together, we're setting a new benchmark for agile banking infrastructure, helping institutions modernize quickly and efficiently while driving financial inclusion. This partnership supports our vision to lead the digital transformation of banking, enabling financial institutions to scale, unlock new growth opportunities, and stay ahead of the curve with innovative business models that drive financial inclusion." "This strategic alliance marks a defining milestone in our pursuit to accelerate the digital transformation of the financial services industry." David Nguyen Tran Hung, FPT Software Senior Vice President and FPT Asia Pacific Chief Executive Officer, FPT Corporation, emphasized. "By integrating our strengths, we are uniquely positioned to help banks future-proof their operations and unlock new revenue opportunities at scale. Fundamentally, this collaboration reflects a shared commitment to empowering financial institutions with the technologies required to thrive in a rapidly evolving digital economy," he added. FPT and audax began their collaboration in 2023, with FPT supporting product development and market rollouts across Asia Pacific. The partnership has evolved from a product development and program-based engagement into a strategic, long-term alliance, reinforcing FPT's expanding footprint in the fintech sector. In this sector, FPT boasts a workforce of 3,000 engineers, delivering innovative solutions to more than 200 clients worldwide. About FPT Corporation FPT Corporation (FPT) is a globally leading technology and IT services provider headquartered in Vietnam and operates in three core sectors: Technology, Telecommunications, and Education. Over more than three decades, FPT has consistently delivered impactful solutions to millions of individuals and tens of thousands of organizations worldwide. Committed to elevating Vietnam's position on the global tech map and delivering world-class solutions for global enterprises, the Corporation focuses on five strategic areas: Artificial Intelligence, Automotive, Semiconductor, Digital Transformation, and Green Transformation. In 2024, FPT reported a total revenue of USD 2.47 billion and a workforce of over 54,000 employees across its core businesses. For more information about FPT's global IT services, please visit About audax Financial Technology audax Financial Technology is a comprehensive digital banking solutions provider empowering banks and financial institutions to scale and modernise at speed. audax has enabled new business models and revenue streams for Standard Chartered under the SC nexus proposition, becoming the first global bank to provide Banking-as-a-Service in Asia. For more information, please visit and follow audax on LinkedIn. View source version on Contacts Media:Mai Duong (Ms.)FPT CorporationFPT Software PR Wenting ChenBrand & Marketing Lead,
