Chinese Plastics Buyers Resist Switch Back to US Propane Despite Pause in Trade War
Beijing's retaliation to President Donald Trump's so-called reciprocal tariffs effectively made American energy sales to China unviable, including the propane used to make plastics. Last year, before the new administration took the helm, almost 60% of Chinese imports of the liquefied petroleum gas came from the US.
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UgenticAI Raises $4M to Scale Portfolio of Agentic AI Companies Aimed at Transforming Small Business Operations
ROCKVILLE, MD, July 23, 2025 (GLOBE NEWSWIRE) -- UgenticAI, an AI holding company, has closed $4 million in funding to expand its growing portfolio of agentic AI companies, businesses that use AI to autonomously execute complex business functions such as sales, content creation, and customer support. With four acquisitions already completed and multiple additional deals in progress, UgenticAI is focused on building an AI ecosystem designed for real business impact, not just automation for its own company's mission is distinct: identify or develop agentic AI companies, not just tools, and bring them under one umbrella to scale. Agentic AI refers to systems that can act independently, make decisions, and complete workflows with minimal human oversight. This differs from traditional AI applications, which often require user prompting and manual oversight to function effectively. Filling a Critical Gap in AI Adoption While artificial intelligence continues to dominate headlines, a significant portion of the market remains underserved. According to UgenticAI's analysis of data from Gartner and McKinsey, there are over 450 million small and medium-sized businesses (SMBs) worldwide, and 76% of them still haven't meaningfully adopted AI tools. That's even though global SMB software spend has surpassed $1.6 trillion and continues to grow. 'Most AI startups are not solving full business problems; they're building features. We believe the real opportunity lies in building or acquiring agentic AI companies that serve entire business functions,' said Anik Singal, CEO of UgenticAI. The reality is stark: nearly 90% of AI startups fail, often because they lack distribution, a viable business model, or don't go beyond single-use capabilities. UgenticAI's strategy is to change that narrative by acquiring companies with established traction or building new ones from scratch, always with a focus on delivering tangible results to businesses. A Holding Company Model for the Agentic AI Era UgenticAI operates as a holding company, meaning it doesn't just invest in AI; it owns and operates a portfolio of AI-driven businesses. This structure enables centralized resources, shared infrastructure, and unified strategic direction, while allowing each subsidiary to grow independently. The company currently has four companies under its umbrella, with two more software launches in development. Each entity focuses on a specific function, such as automating outreach for sales teams or deploying autonomous chat solutions for customer support. These are not experimental concepts but operational businesses with growing customer bases and measurable impact. By integrating these companies, UgenticAI aims to offer SMBs a full-stack suite of agentic AI services that can operate cohesively saving time, reducing labor costs, and enabling scalability. Investment Through Diversification Rather than backing a single AI idea, UgenticAI offers accredited investors access to a broader portfolio, effectively spreading risk across multiple ventures. This approach mirrors traditional investment models in real estate or venture capital, but with a focused theme: operational AI companies. The $4 million raised to date has enabled acquisitions, team expansion, and infrastructure development. The company reports that three additional deals are in negotiation, signaling further portfolio expansion in 2025. An IPO target of $350 million within 2.5 years is in motion, with a longer-term vision of building a $3 billion-plus AI conglomerate. Educating the Market on Agentic AI A key part of UgenticAI's mission is to shift how businesses, particularly SMBs, understand and adopt AI. While many AI tools on the market serve as assistants or single-task enhancers, agentic AI solutions go further. They are built to replace full-time roles with autonomous software agents that learn, adapt, and act without constant oversight. This form of AI, while still emerging, is quickly gaining traction as businesses face rising labor costs, scaling challenges, and increasing pressure to do more with less. 'Agentic AI isn't about eliminating jobs for the sake of it,' Singal emphasized. 'It's about enabling businesses to do things they simply couldn't afford or scale before.' By focusing on usability, accessibility, and direct business value, UgenticAI's portfolio companies are designed specifically for the needs of SMBs, a demographic often left behind in major tech shifts. Further details about UgenticAI and its development roadmap are available at About UgenticAI UgenticAI is a Maryland-based holding company focused on acquiring and launching agentic AI companies. Its portfolio-driven approach enables small and medium-sized businesses to access scalable AI solutions that replace core business functions, not just assist with tasks. Backed by $4M in funding, the company is actively building toward a $350M IPO, offering accredited investors diversified exposure to operational AI Contact Company Name: UgenticAI Contact Person: Anik Singal Email: anik@ Phone: 240-200-4222 Country: United States Website: CONTACT: Media Contact Company Name: UgenticAI Contact Person: Anik Singal Email: anik@ Phone: 240-200-4222 Country: United States Website: while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
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Fortescue iron ore shipments rise; scraps US, Aussie green energy projects
(Reuters) -Australia's Fortescue on Thursday posted record fourth-quarter production that helped the miner meet the top end of its full-year guidance, and said it would scrap its U.S. and Australian green energy projects. The Perth-based company said it would not proceed with its Arizona Hydrogen Project in the U.S. and the PEM50 Project in Gladstone, Australia, following a review. It is assessing options to repurpose the land and assets. Fortescue also expects a preliminary pre-tax writedown of about $150 million in its second-half results, linked to spending on the PEM50 Project, electrolyser manufacturing equipment in Gladstone, and engineering costs for the Arizona Hydrogen Project. The company posted quarterly iron ore shipments of 55.2 million metric tons (Mt), up from 53.7 Mt a year earlier and above a Visible Alpha estimate of 52.5 Mt, supported by improved processing of the steel-making commodity. Fortescue, chaired by billionaire founder Andrew Forrest, shipped 198.4 Mt in fiscal 2025 - its best performance in record. Effettua l'accesso per consultare il tuo portafoglio
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Whisky tariffs to be halved by ‘fantastic' India trade deal
Tariffs on whisky being exported to India are set to be halved as part of a trade deal with the UK. Sir Keir Starmer will welcome his Indian counterpart Narendra Modi on Thursday to sign the deal, which will see tariffs on whisky cut from 150% to 75%, and potentially dropping to 40% in the next decade. While tariffs on soft drinks will drop gradually from 33% to 0%, the UK Government estimated a £190 million boost for Scotland as a result of the deal. Speaking ahead of the signing, Scottish Secretary Ian Murray said: 'This is great news for Scotland and Scottish jobs. 'Our trade deal with India is fantastic news for Brand Scotland, with our goods, businesses and services gaining access to what is projected to be the world's third-largest economy by 2027. 'From food, drink and textiles production, to clean energy, advanced manufacturing, life sciences and financial services, Scotland has so much to offer India. 'It's fantastic news in particular for the world-famous whisky industry, with Indian import tariffs slashed on Scotch having the potential to be transformational for the industry. It's also good news for our other national drink, with tariffs on soft drinks cut. 'As the UK Government delivers our Plan for Change, we are also bringing inward investment to Scotland to create jobs, boost economic growth and improve living standards right across the UK.' Scotch Whisky Association chief executive Mark Kent said the industry had 'long championed' a deal with India, adding: 'The signing of the FTA is an historic moment and is an important milestone to reducing tariffs on Scotch whisky in a growing market. 'This will contribute to the Government's growth objective, by laying the foundations for further investment and jobs.'
