Latest news with #USA-based
Pink Villa
25-06-2025
- Business
- Pink Villa
Meet Indian-born businessman who was forced to sell his Rs. 12,478 crore company for Rs 74
The story of a billionaire falling from their throne of power isn't new. The world of business sees rich men losing their glory in the blink of an eye all the time. However, the "rags to riches" story of the Indian-born businessman B.R. Shetty is rather a sad one. He once inspired entrepreneurs across the globe to chase their dreams and secured the spot of one of the wealthiest magnates in the world. But sadly, the man who once boasted an ultra-high net worth of over Rs. 20,000 Cr was left with nothing after making an unconsidered decision that caused irreversible damage to his name and assets. A Brief Look at B. R. Shetty's Power and Loss of Status Dr. Bavaguthu Raghuram Shetty was born in Udupi, Karnataka, India in 1942. He moved to the UAE when he was 31, reportedly with only a few dollars in his pocket. Shetty worked diligently to establish himself as the country's first medical representative. But he knew he did not want to settle for being a salesman. Several issues in the healthcare industry, including accessibility and cost, prompted the business mogul to embark on an entrepreneurial path, and he founded New Medical Centre Health in 1975. His journey was just getting started. Under his leadership, NMC became the first private healthcare provider in the country and successfully entered the global market. As the company became an integral part of the London Stock Exchange and the FTSE 100 Exchange, B. R. Shetty never had to look back. It wasn't long before he acquired the ownership of UAE Exchange and Travelex. He was well-acquainted with prominent figures like A.P.J. Abdul Kalam and even had plans to invest USD 5 billion for the betterment of the healthcare infrastructure in India. He is the proud owner of several successful business ventures, including Neopharma, BRS Ventures, and Finablr, according to reports. was once listed among Forbes' list of the richest men of India and lived in the lap of luxury. In 2019, his net worth reached USD 3 billion. He owned two floors in Burj Khalifa, and the Rolls-Royce collection was enough to evoke envy. So, where did it go wrong? Things started to go downhill when Muddy Waters Research, a USA-based investment firm, brought some serious allegations against him. Allegedly, Shetty's firm had a USD 1 billion debt, which he kept hidden from the investors. He soon had to give up his place on the NMC Health Board, and the company went under UK administration. Abu Dhabi Commercial Bank also filed a complaint against NMC and the Central Bank of UAE ordered a restraint on all his bank accounts and his firms were blacklisted, an investigation is ongoing against the business tycoon in India. B. R. Shetty is no longer a part of Forbes' billionaire list since 2020. Although he is nowhere near being poor, his current wealth doesn't hold a candle in front of his pre-2019 net worth. The accusations against him resulted in a price drop in shares, and he sold the business for Rs 74 to an Israel-UAE consortium. Shetty's rise and fall from grace almost imitate a tragic film. He was at the top once, but his fate played cruel tricks on him, and he lost everything almost overnight.
Glasgow Times
22-06-2025
- Science
- Glasgow Times
Celebrated physicist visits old Glasgow school nearly 40 years later
Dr Calum Torrie, associate director and chief engineer at the USA-based Laser Interferometer Gravitational-Wave Observatory (LIGO), visited Cardonald Primary School on Tuesday, June 17, to present a special piece of science-themed artwork and talk about his career. Dr Torrie, who now lives in Pasadena, California, said: "I was proud to come back to Cardonald Primary nearly 40 years after I left to meet pupils and present them with their fantastic artwork representing the first detection of gravitational waves. "Having the opportunity to meet young people and get them engaged with science is always welcome, but being able to meet pupils who are growing up where I did was particularly special." Read more: New Glasgow research centre launched to help advance sustainable shipping (Image: Supplied) (Image: Supplied) He spoke to pupils about his time at the school in the 1980s, his studies in physics and astronomy at the University of Glasgow, and his current work at LIGO. Martin Coogan, headteacher at Cardonald Primary School, said: "We were delighted to welcome Dr Torrie back to the school to meet pupils, discuss his career, and present us with the artwork. "The children thoroughly enjoyed Dr Torrie's presentation, which focused on gravitational wave astronomy and how the remarkable sensitivity of the LIGO detectors was enabled by research at a local university. "It's fantastic to think that an internationally recognised scientist attended our school and studied at the University of Glasgow. "I am sure Dr Torrie's visit to our school will inspire some of our pupils to start thinking about science as a possible future career path." During the visit, Dr Torrie showcased a framed mosaic created by pupils in 2023 as part of a University of Glasgow project. Gravitational waves, first predicted by Albert Einstein in 1916, were detected for the first time in 2015 by LIGO. This discovery opened a new frontier in astronomy and was awarded the Nobel Prize in Physics in 2017. The mosaic visualises one of the signals detected by LIGO and is composed of 1,156 individual drawings contributed by pupils and staff. Dr Torrie also presented the pupils with a framed A3 poster, celebrating their work. Dr Andrew Spencer, University of Glasgow researcher who helped lead the development of the mosaics, said: "The Cardonald mosaic celebrates how this ground-breaking discovery was the work of many people. "The individual squares are recycled from the work of many University of Glasgow researchers, past and present, and each one was decorated by students and staff at Cardonald Primary. "Working with the School to produce the mosaic was a brilliant experience, and it was great to return with Dr Torrie and the final artwork. "We hope that future generations of Glasgow children will grow up to continue the tradition of scientific innovation." Read more: Glasgow University urges unpaid carers to take part in new survey (Image: Supplied) (Image: Supplied) University of Glasgow scientists played a key role in the development of LIGO, particularly in the design of its mirror suspensions and data analysis. Dr Torrie's visit to Cardonald Primary School comes as the global gravitational wave research community prepares to mark the 10th anniversary of the first detection. Glasgow will host the International Conference on General Relativity and Gravitation and the Edoardo Amaldi Conference on Gravitational Waves from July 14 to 18. This conference, organised by the Institute of Physics and supported by the University of Glasgow, will see gravitational wave and relativity researchers from across the globe come together to talk about their research.
CAF
19-06-2025
- Sport
- CAF
Riveiro: Al Ahly can upset Palmeiras despite injury blows
Al Ahly coach Jose Riveiro insists his injury-hit side can still unsettle Brazilian heavyweights Palmeiras when the two former continental champions collide in at New Jersey on Thursday. The Cairo giants, who opened Group A with a goalless draw against Inter Miami, are without midfield orchestrator Emam Ashour (broken collar-bone) and wide men Taher Mohamed Taher and Ahmed Nabil Kouka. Their absences leave Jose Riveiro's squad stretched as they attempt to claim a first victory and move closer to the Club World Cup last 16. 'Palmeiras is one of the best teams in the Club World Cup, and they are stable with their current coach, who has played many matches with them over the past few seasons,' the Spaniard told reporters. 'Palmeiras is an experienced team that has played many tough matches, and they put in a strong performance against Porto in the first round. Al Ahly players have a strong desire to achieve a good result.' Neither Palmeiras nor Al Ahly have found the net so far in the USA-based tournament. Abel Ferreira's men registered 17 shots yet could not beat Porto goalkeeper Diogo Costa, while Al Ahly's Mohamed El Shenawy pulled off two late saves — the second from Lionel Messi — to preserve a point against Inter Miami. Ribeiro acknowledged his side must sharpen their attacking edge but praised new signing Ahmed 'Zizo' Sayed, who made his debut off the bench in Miami. 'Zizo played his first match with Al-Ahly after joining the team recently and performed well,' he said. Ferreira is expected to unleash 18-year-old winger Estevão — bound for Chelsea next year — after the teenager's starring role in matchday one. Asked how Al Ahly plan to limit the Brazilian prodigy, Jose Riveiro pointed to his players' success in blunting Messi. 'Is there a specific plan to control Estevão? This was also present in the Inter Miami match. There are players with high individual skills, and we must deal with these matters carefully and try to keep them away from dangerous areas as much as possible.' The coach added: 'The idea of always relying on the defensive side, for me, is to force the opponent to perform at a lower level than usual, prevent them from creating real chances on the team's goal, and impose strong control over the key players in the game, as happened with Lionel Messi, whom Al Ahly players made a great effort to prevent from passing and posing a threat to their goal.' Jose Riveiro refused to single out any individual for criticism, confirming that discussion over Mahmoud 'Trezeguet' Hassan's missed spot-kick against Inter Miami is 'completely resolved'. 'I won't speak individually about any player on the team. We must focus only on the match against Palmeiras to achieve a positive result.' With all four teams level on a point, Thursday's encounter (19:00 Cairo) could prove pivotal, even if victory for either side would not mathematically secure qualification. Palmeiras arrive with a clean bill of health and a coach promising 'small surprises' in his lineup, while thousands of expatriate Egyptians are expected to turn the stadium red. Riveiro, however, believes mindset will trump manpower: 'Al Ahly's history is built on meeting challenges head-on. My players know what is required.'
Cision Canada
17-06-2025
- Business
- Cision Canada
Full Circle Lithium Expands Distribution Network For Its FCL-X™ Lithium-Ion Battery Fire Extinguishing Agent
FCL has now signed six distribution agreements to market FCL-X™ within the USA with large USA-based fire safety products distributors Due to the strong interest in FCL-X™ products, FCL has also restructured its master distribution agreement strategy in the USA into regional coverage FCL expects additional distribution agreements to be signed in the USA and internationally over the next few months TORONTO, June 17, 2025 /CNW/ - Full Circle Lithium Corp. ("FCL" or the "Company") (TSXV: FCLI) (OTCQB: FCLIF), a USA-based manufacturer of lithium-ion battery specialty firefighting agent, FCL-X™, is pleased to announce the signing of regional distribution agreements with the following leading US distributors: Howell Fire and Rescue Inc. ("Howell"), Heiman Fire Equipment ("Heiman), Swift Group LLC ("Swift") and Central Alabama Training Solutions ("CATS"), Great Plains Fire ("Great Plains") and FYR-TEK Inc. ("FYR-TEK") in the USA and Safetek Profire ("Safetek") in Canada. These distribution agreements are in addition to the US Fire Pump distribution agreement already in place. These regional distribution agreements mark important milestones in the Company's efforts to commercialize its proprietary and innovative lithium-ion battery fire fighting agent, FCL-X™ and reflect a change in the Company's North American strategy by focusing on more regional expertise in the USA and Canada to better address FCL-X™ across residential, industrial, and commercial settings and most importantly into the first responder fire safety industry. These new distribution agreements primarily emphasize the FCL-X™ Extinguisher, FCL-X™ Recharge, and FCL-X™ PRO product lines, granting certain exclusive distribution rights within their respective regions for a defined period. The Company now serves more than 25 states in the USA and all of Canada directly through its distributors. This excludes US Fire Pump's exclusive distribution for our FCL-X™ ProMax product line to industrial and commercial markets. All other USA states not covered by the current distributors mentioned below are served directly by the Company. Carlos Vicens, CEO, Founder, and Director of FCL, stated, "The FCL-X™ handheld product line of fire suppression offers cutting-edge technology specifically crafted for efficient, effective, and safe response, reducing the risks associated with lithium-ion battery fires. Through these new distribution agreements, we look forward to growing a strong distribution network in the US and Canada that guarantees access to this vital safety solution, ultimately protecting people and property." The Company retains the right to market all its products globally and may pursue additional distribution agreements worldwide and, in the USA, provided these do not conflict with these distribution agreements. About Howell Rescue Systems Howell is a family owner business with over 50 years dedicated to providing fire departments throughout the United States with high quality rescue equipment like extrication tools or SCBAs. Howell has a rich history of work and servicing rescue equipment as well as a team who is dedicated to helping fire department. Howell has an extensive distribution network that covers key markets and regions in the USA, and has history of successful partnerships and a reputation for reliability demonstrated by the ability to deliver results. About Heiman Fire Equipment Heiman Fire Equipment was founded in 1947 and has been family-owned and operated locally ever since. Building on its modest beginnings of selling fire extinguishers to the local farming community in Ashton, IA, the company has evolved into a multi-faceted company with nationwide fire equipment sales, fire truck manufacturing, service, and refurbishments, plastics fabrication, and industrial sales and service. About Swift Group LLC Swift Group was established in 2018 by our founder and president, Jerry Swift, who has proudly dedicated 24 years of service to his community. Since its inception, Swift Group has grown to a team of six employees, all of whom have served or currently serve in public safety. Our mission is simple: to provide the highest quality products to those who need them most. About Central Alabama Training Solutions Founded in 2004 by former firefighters Keith Sharp and Dennis Weverink, CATS is a family-owned business built on experience, service, and a passion for safety. Headquartered in Tuscaloosa, Alabama, CATS has grown into a trusted provider of fire service equipment, industrial safety gear, and real-world training solutions. With deep roots in the fire service and a commitment to quality, CATS is proud to serve the professionals who protect others every day. About Great Plains Fire Great Plains Fire is in the business of new apparatus, pre-owned apparatus, service, and loose equipment. With over 40 years of experience working in the fire and safety industry. Great Plains is your local fire protection provider that understands the unique business and is committed to providing the highest quality products and services in the industry. Great Plains Fire is located in Fergus Falls, MN and is centrally located to fulfill the needs of all fire departments. About FYR-TEK Inc. With over 70 years combined fire industry experience, FYR-TEK is a family-owned and operated company that strives to provide customers with high-quality, reasonably priced firefighting equipment. FYR-TEK utilizes a service-oriented teamwork approach in doing business that places customer service as top priority while providing fire departments the rescue tools and firefighting equipment they need to make a difference. About Safetek Profire Safetek was founded in 1993 by John Witt in Coquitlam, British Columbia and serves all of Canada. From its beginning in 1993, Safetek set out to be a different kind of company and is proud to represent some of the most recognized fire-rescue vehicle brands including: E-ONE, EVI, KME, Ladder Tower, Smeal, Spartan, and SVI. By pioneering "the part you need when you need it", and "service anywhere, anytime", Safetek is committed to helping our customers keep their fleets in service. About Full Circle Lithium Corp. FCL has developed an innovative lithium-ion battery fire-extinguishing agent named FCL-X™ to address the increasing number of difficult-to-extinguish and hazardous lithium-ion battery-based fires. FCL-X™ is a non-hazardous fire extinguishing agent specifically designed to combat lithium-ion cell and/or battery fires. It is a water-based solution that neutralizes complex chemical reactions, creating a protective layer on the surface of materials containing elemental lithium. FCL-X™ has been tested by 3 rd party laboratories as well as on live fires on both small and industrial scale fires and has proved that it mitigates the lithium oxidation reaction, limiting hydrogen generation and stabilizing decomposing electrolytes. FCL-X™ is easy to use, with fast heat dissipation, minimal clean-up, and non-hazardous properties, making it a sustainable choice. FCL has gathered a leading technical team with over 100 years of combined lithium, fire, and safety training and firefighting experience. Additional information regarding FCL is available on SEDAR at under the Company's profile and on its website Cautionary Statement Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking statements within the meaning of securities legislation in the Canada and which are based on the expectations, estimates and projections of management of the parties as of the date of this news release unless otherwise stated. Forward-looking statements are generally identifiable by use of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "could", "believe", "plans", "intends" or the negative of these words or other variations on these words or comparable terminology. More particularly, and without limitation, this news release contains forward-looking statements and information concerning expectations on the effectiveness of the marketing and sales of FCL-X™ through distribution agreements, the viability, effectiveness, safety and additional commercialization related to FCL-X™ which is at an early stage of commercialization (which is very difficult for a start-up venture like FCL as there are much larger and better capitalized established companies that can potentially quickly enter the lithium-ion battery fire-fighting market and create strong competition against FCL), on receiving patent protection for FCL-X™ and related inventions and processes, the ability of FCL, a start-up venture, to successfully commercialize its FCL-X™ including ramping-up production of the agent to meet potential demand, continue raising capital, upgrading and refurbishing its plant, and sourcing feedstock for this and its other lines of business. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the uncertainties and risk factors related to the technical elements in a processing and refining business, loss of key technical and other staff, lithium price fluctuations, the battery fire-extinguishing agent functioning as expected to meet safety requirements and fire-fighting related government regulations and potential client product specifications, and applicable environmental requirements and issues – see additional risks described in FCL's public filings. Actual results, developments and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. FCL disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise, unless required by law. Additionally, FCL undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of FCL, its financial or operating results or its securities.
NDTV
16-06-2025
- Automotive
- NDTV
Tesla Model S, Model X Receive Minor Design And Range Revisions
The USA-based electric car manufacturer - Tesla, has rolled out minor updates to its Model S sedan and Model X SUV for buyers around the world. These changes focus on practical improvements, like better range, increased comfort, and quieter cabins, while keeping the core design of the vehicles untouched. Tesla Model S & Model X: Exterior Changes The updates to the exterior are subtle. Both models now have updated alloy wheels, 19-inches for the Model S and 20-inches for the Model X with options to upgrade to 21-inches and 22-inches respectively. The Plaid trims feature sportier bumpers, designed for better stability at high speeds. Additionally, Plaid versions now come with a forward-facing camera and a new "Frost Blue" paint option. Tesla Model S & Model X: Interior Updates Tesla has worked on the improvement of the cabin's comfort and NVH levels. The interior features customizable ambient lighting with new color options and an updated welcome sequence for drivers and passengers. Active Noise Cancellation has also been improved, reducing outside noise, especially on highways. One notable change is that the yoke-style steering wheel is now only available on Plaid models and is no longer standard on other versions. Tesla Model S & Model X: Range and Performance Upgrades Tesla's latest models feature a notable increase in range. The Model S Long Range now offers up to 660 km on a single charge, making it the longest-range option from Tesla to date. However, these enhancements come with some trade-offs. The top speed of the Model S Plaid has been reduced from 321 kmph to 240 kmph, for which Tesla has not provided specific reasons. The Model X has also seen improvements, with the Long Range version achieving 567 km and the Plaid version reaching 539 km, which is an increase of 61 km and 33 km, respectively. Tesla Model S & Model X: Price The updated Model S and Model X come with a price increase of 5,000 USD (approximately Rs 4.3 Lakh). Tesla refers to these changes as an upgrade rather than a full redesign.
