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Business Standard
20-05-2025
- Business
- Business Standard
India's core sector growth plunges to eight-month low of 0.5% in April
Output growth in India's eight core infrastructure industries plummeted to an eight-month low of 0.5 per cent in April from an upwardly revised 4.6 per cent growth recorded in March, with three sectors contracting sharply, including refinery products and fertilisers, while electricity and natural gas clocked very feeble upticks. Base effects also pulled down last month's growth print, as the Index of Core Industries (ICI) had risen a sharp 6.9 per cent in April 2024, which was the joint highest in the past thirteen months. Cement production grew at the fastest pace among the core sectors, rising 6.7 per cent in April, but this was almost half the pace recorded in March and the lowest uptick in six months. Steel output grew 3 per cent and electricity generation rose a mere 1 per cent, the slowest uptick in seven months for both sectors. Coal production rose at a three-month high pace of 3.5 per cent, while natural gas output grew for the first time in ten months, albeit by a fractional 0.4 per cent, according to data released by the Ministry of Commerce and Industry on Tuesday. Crude oil output (-2.8 per cent) contracted for the fourth consecutive month, that economists attributed to low global prices, while output in refinery products contracted for the first time in eight months, with a 4.5 per cent drop that marked the sharpest downturn since November 2022. The eight core sectors constitute 40.27 per cent of the Index of Industrial Production (IIP), which had recorded a mild recovery to rise 3 per cent in March. Economists now expect industrial output growth to drop to around 1 per cent in April. 'The impact of Tariff Tantrums-led unprecedented economic uncertainty along with a high base effect pulled the infrastructure output growth down to be the lowest since August 2024, with six of eight sectors seeing a moderation in growth,' said Paras Jasrai, Associate Director at India Ratings and Research. Jasrai said he expects IIP growth in the range of one to two per cent in April, and core sectors' growth to improve to around 2 per cent in May. Terming the ICI print for April 'quite disappointing', Bank of Baroda chief economist Madan Sabnavis reckoned that IIP growth will be in the range of 1 per cent to 1.5 per cent for last month. Rating agency ICRA said IIP growth could moderate sharply to just around 1 per cent in April, citing the tepid core output numbers and other available high frequency indicators. 'The healthy growth in non-oil exports may provide an upside, unless the same represents round-tripping of some imports,' the firm's chief economist Aditi Nayar noted.
Yahoo
19-05-2025
- Business
- Yahoo
Columbus Circle Capital Corp. I and Cohen & Company Inc. Announce Completion of Upsized $250,000,000 Initial Public Offering
New York, NY, and Philadelphia, PA, May 19, 2025 (GLOBE NEWSWIRE) -- Columbus Circle Capital Corp. I (NASDAQ: CCCMU) (the 'Company') and Cohen & Company Inc. (NYSE American: COHN) ('Cohen & Company') today announced the closing of the Company's upsized initial public offering of 25,000,000 units, which included 3,000,000 units issued pursuant to the partial exercise by the underwriters of their over-allotment option. The offering was priced at $10.00 per unit, resulting in gross proceeds of $250,000,000. The Company's units began trading on the Nasdaq Global Market ('NASDAQ') on May 16, 2025, under the ticker symbol 'CCCMU.' Each unit consists of one Class A ordinary share of the Company and one-half of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share, subject to certain adjustments. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on NASDAQ under the symbols "CCCM' and "CCCMW,' respectively. Cohen & Company Capital Markets, a division of Cohen & Company's broker-dealer subsidiary, J.V.B. Financial Group, LLC, acted as the lead book-running manager for the offering. Clear Street LLC acted as joint book-runner. Ellenoff Grossman & Schole LLP, and Ogier (Cayman) LLP, served as legal counsel to the Company, and Loeb & Loeb LLP served as legal counsel to the underwriters. A subsidiary of Cohen & Company also acted as sponsor of the Company. A registration statement relating to the units and the underlying securities was declared effective by the Securities and Exchange Commission (the 'SEC') on May 15, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering was made only by means of a prospectus, copies of which may be obtained from Cohen & Company Capital Markets, 3 Columbus Circle, 24th Floor, New York, NY 10019, Attention: Prospectus Department, or by email at: capitalmarkets@ Copies of the registration statement can be accessed for free through the SEC's website at Of the proceeds received from the consummation of the initial public offering and a simultaneous private placement of units, $250,000,000 was placed in the Company's trust account for the benefit of the Company's public shareholders. An audited balance sheet of the Company as of May 19, 2025 reflecting receipt of the proceeds upon consummation of the initial public offering and the private placement will be included as an exhibit to a Current Report on Form 8-K to be filed by the Company with the SEC. About Columbus Circle Capital Corp. I The Company is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an initial business combination target in any industry or geographical location. The Company's management team is led by Gary Quin, its Chief Executive Officer and Chairman of the board of directors, and Joseph W. Pooler, Jr., its Chief Financial Officer. Garrett Curran, Alberto Alsina Gonzalez, Dr. Adam Back and Matthew Murphy are independent directors. About Cohen & Company Inc. Cohen & Company is a financial services company specializing in an expanding range of capital markets and asset management services. Cohen & Company's operating segments are Capital Markets, Asset Management, and Principal Investing. The Capital Markets segment consists of fixed income sales, trading, gestation repo financing, new issue placements in corporate and securitized products, underwriting, and advisory services, operating primarily through Cohen & Company's subsidiaries, J.V.B. Financial Group, LLC ('JVB') in the United States and Cohen & Company Financial (Europe) S.A. in Europe. Cohen & Company Capital Markets ('CCM'), a division of JVB, is Cohen & Company's full-service boutique investment bank that focuses on mergers and acquisitions, capital markets, and SPAC advisory services. The Capital Markets segment also includes investment returns on financial instruments that Cohen & Company has received as consideration for advisory, underwriting, and new issue placement services provided by CCM. The Asset Management segment manages assets through collateralized debt obligations, managed accounts, joint ventures, and investment funds. As of March 31, 2025, Cohen & Company had approximately $2.3 billion of assets under management in primarily fixed income assets in a variety of asset classes including U.S. and European bank and insurance trust preferred securities, debt issued by small and medium sized European, U.S., and Bermudian insurance and reinsurance companies, equity interests of SPACs and their sponsor entities, and commercial real estate loans. The Principal Investing segment is comprised primarily of investments Cohen & Company holds related to its SPAC franchise and other investments Cohen & Company has made for the purpose of earning an investment return rather than investments made to support its trading or other capital markets business activity. For more information, please visit Forward-Looking Statements This press release contains statements that constitute 'forward-looking statements,' including with respect to the initial public offering. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and prospectus for the offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this press release, except as required by law. Contact Information: Columbus Circle Capital Corp IGary Quin, Chief Executive Officergquin@ Cohen & Company W. Pooler,
Business Wire
19-05-2025
- Business
- Business Wire
CEL-SCI Announces Combination of Common Stock
When the combination of stock becomes effective, every 30 shares of common stock will be converted into 1 share of common stock. The combination of common stock will not eliminate any shareholders of record since any fractional share resulting from the combination of common stock will be rounded to the nearest whole share. The exercise price of all outstanding warrants and options, as well as the shares issuable upon the exercise of the outstanding warrants and options, will also be proportionately adjusted. 'We believe that the next few months may present us with a number of major catalysts. Hopefully this will lead to more interest from investors. The combination of common stock is needed for two reasons: 1) our low stock price prohibits many funds from investing in CEL-SCI and 2) the major US stock exchanges have made it clear that they want listed companies to have a higher share price. Therefore we believe that this is an appropriate time to implement a combination that will bring our share price to levels where more investors, as well as funds, can buy and trade our stock. We appreciate the continued support of our shareholders as we advance our investigational drug and drug candidates through our clinical development program with a goal towards delivering better treatment alternatives for cancer, autoimmune and infectious diseases,' stated CEL-SCI CEO Geert Kersten. It is not necessary for stockholders to exchange their existing stock certificates for new stock certificates in connection with the combination of common stock although stockholders may do so if they wish. Please direct any questions you might have concerning the combination of common stock to your broker or our transfer agent Computershare Trust Company by calling (800) 962-4284. About CEL-SCI Corporation CEL-SCI believes that boosting a patient's immune system before surgery, radiotherapy and chemotherapy have damaged it, should provide the greatest possible impact on survival. Multikine is designed to help the immune system "target" the tumor at a time when the immune system is still relatively intact and thereby thought to be better able to mount an attack on the tumor. Multikine (Leukocyte Interleukin, Injection), given right after diagnosis and before surgery, has been dosed in over 740 patients and received Orphan Drug designation from the FDA for neoadjuvant therapy in patients with squamous cell carcinoma (cancer) of the head and neck. Based on the data from the completed randomized controlled Phase 3 study, the FDA concurred with CEL-SCI's target patient selection criteria and gave the go-ahead to conduct a confirmatory Registration Study. The study will enroll 212 newly diagnosed locally advanced primary treatment naïve resectable head and neck cancer patients with no lymph node involvement (determined via PET scan) and with low PD-L1 tumor expression (determined via biopsy), representing about 100,000 patients annually. The Company has operations in Vienna, Virginia, and near/in Baltimore, Maryland. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this press release, the words "intends," "believes," "anticipated," "plans" and "expects," and similar expressions, are intended to identify forward-looking statements. Such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Factors that could cause or contribute to such differences include an inability to duplicate the clinical results demonstrated in clinical studies, timely development of any potential products that can be shown to be safe and effective, receiving necessary regulatory approvals, difficulties in manufacturing any of the Company's potential products, inability to raise the necessary capital, inability to finalize a partnering agreement and the risk factors set forth from time to time in CEL-SCI's filings with the Securities and Exchange Commission, including but not limited to its report on Form 10-K for the year ended September 30, 2024. The Company undertakes no obligation to publicly release the result of any revision to these forward-looking statements which may be made to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Yahoo
02-05-2025
- Business
- Yahoo
Lutnick: ‘I have a deal done, done, done, done' as China, Japan and India warm to trade talks
After weeks of global hesitation following President Trump's sweeping tariff announcements, trade talks are cautiously progressing, with China signaling a willingness to negotiate and Japan showing early signs of movement toward a potential deal. Though no agreements have been finalized, optimism is growing as U.S. officials suggest the first trade deal could be imminent, pending final approvals. Tensions appear to be defrosting between the Trump administration and some of its key trading partners after the president's announcement of wide-ranging tariffs—most notably with China, the only nation which responded with retaliatory measures of its own. In the weeks following President Trump's 'Liberation Day' announcements, the White House painted a picture of frantic activity and optimism for a rapid flow of deals coming down the pipe. A month later, no such agreements have been signed. While foreign governments were frustrated but willing to come to the table and work with the Trump administration, leaders from across the globe also made it clear that they wouldn't race to sign on the dotted line for a deal which didn't benefit their people in the long term. Questions are mounting for the Trump cabinet about when anxious voters can expect some action, potentially signaling a fractional easing of the economic pressure facing consumers when the president's 90-day pause expires. Likewise Wall Street, already battered by the flip-flopping narrative from tariff threats to pause, are keen for signs that the worst of the uncertainty may be over and businesses can start rebuilding some confidence. It seems that at last the much-anticipated "first mover" (the country which signs a deal with the U.S. first) may at last be coming to the fore. Perhaps more significantly China—the world's second-largest economy and the primary source of trade war fears—has offered the Trump team some reprieve by saying it is "assessing" the American's approach. In a statement on Friday China's Ministry of Commerce said "senior U.S. officials have repeatedly expressed their willingness to negotiate with China on tariff issues" and have done so "proactively…through relevant channels." The more nuanced tactic is seemingly more palatable to the Chinese government than President Trump's initial approach, which has been to robustly critique the U.S.'s economic rival and threaten its government with escalating sanctions if they did not agree to terms. Likewise, this week Beijing also rejected President Trump's claim that China's leader, Xi Jinping, had called him directly. "China's position has always been consistent: if it's a fight, we will accompany it to the end; if it's a talk, our door is open. The tariff war and trade war were unilaterally initiated by the U.S.," China's Commerce spokesman added in the statement on May 2. "If the U.S. wants to talk, it must show genuine sincerity—be prepared to correct its wrong practices and cancel the unilateral tariff increases." The minister added: "Saying one thing and doing another, or even attempting to use talks as a pretext for coercion and blackmail, will not work with China." Japan was one of the first countries to race to Washington D.C. to begin negotiations with the Oval Office after the tariff announcements, but initial talks concluded without a resolution. Indeed Japan's prime minister prime minister, Shigeru Ishiba, said he was in no rush to work to America's timeframe if it meant making too many concessions. "I don't think it's good to compromise a lot in order to just get the negotiations done,' he told parliament according to local reports. But green shoots now seem to be appearing following a second round of conversations between Japan's chief negotiator Ryosei Akazawa and U.S. officials including Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick. 'We were able to have concrete discussions on topics such as expanding our bilateral trade, non-tariff measures, and cooperation on economic security,' Akazawa told reporters Thursday following the two-hour meeting, adding further negotiations could continue in May. Akazawa added he hoped to see a deal signed by June—the first time a concrete date has been floated—but cautioned: 'It is not simply a matter of speed, as there are national interests that must be protected on both sides, which will take some time. There are still many issues that need to be addressed and resolved before a final agreement can be reached.' Conversations also seem to be progressing with India, with diplomats on both side confirming developing negotiations. India's Prime Minister Narendra Modi posted on X following vice president JD Vance's visit to India that the duo "reviewed the fast-paced progress following my visit to the U.S. and meeting with President Trump. "We are committed to mutually beneficial cooperation, including in trade, technology, defence, energy and people-to-people exchanges." It seems at last the first deal is almost over the line, with Secretary Lutnick telling CNBC earlier this week that 'I have a deal done, done, done, done." Lutnick added he is waiting for sign-off from the unnamed nation's prime minister and parliament, but added he expects this "shortly." This story was originally featured on
Yahoo
29-01-2025
- Business
- Yahoo
Stellar V Capital Corp. Announces Pricing of $150 Million Initial Public Offering
NEW YORK, Jan. 29, 2025 (GLOBE NEWSWIRE) -- Stellar V Capital Corp. (the 'Company'), a newly organized special purpose acquisition company formed as a Cayman Islands exempted company and led by its co-CEOs Prokopios (Akis) Tsirigakis and George Syllantavos, today announced the pricing of its initial public offering of 15,000,000 units at an offering price of $10.00 per unit. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant will entitle the holder thereof to purchase one Class A ordinary share at $11.50 per share. The units are expected to trade on the Nasdaq Global Market ('NASDAQ') under the ticker symbol 'SVCCU' beginning January 30, 2025. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. The Company expects the Class A ordinary shares and warrants comprising the units to begin separate trading on the 52nd day from this date. Once the securities comprising the units begin separate trading, the Class A ordinary shares and the warrants are expected to be traded on NASDAQ under the symbols 'SVCC' and 'SVCCW,' respectively. BTIG, LLC is acting as sole book-running manager for the offering. The Company has granted the underwriter a 45-day option to purchase up to an additional 2,250,000 units at the initial public offering price to cover over-allotments, if any. The offering is expected to close on January 31, 2025, subject to customary closing conditions. A registration statement relating to the securities sold in the initial public offering was declared effective by the U.S. Securities and Exchange Commission (the 'SEC') on January 29, 2025. The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from: BTIG, LLC, 65 East 55th Street, New York, New York 10022, or by email at ProspectusDelivery@ or by accessing the SEC's website, This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Stellar V Capital Corp. Stellar V Capital Corp. is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Forward-Looking Statements This press release contains statements that constitute 'forward-looking statements,' including with respect to the Company's initial public offering ('IPO') and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of Stellar V Capital Corp., including those set forth in the Risk Factors section of Stellar V Capital Corp.'s registration statement and preliminary prospectus for the IPO filed with the SEC. Copies are available on the SEC's website, Stellar V Capital Corp. undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. Contacts:Anastasios (Tassos) ChrysostomidisVice President of Business DevelopmentStellar V Capital Email: inquiries@ Daniela GuerreroInvestor Relations/MediaCapital Link, Inc.230 Park Avenue, Suite 1540New York, N.Y. 10169Tel.: (212) 661-7566Email: stellaracquisition@ in to access your portfolio
