FuelCell Energy has announced a sweeping global restructuring plan, slashing 17% of its workforce in a bid to stabilize operations amidst mounting financial pressures. The dramatic reduction, which impacts approximately 100 employees, comes as the company struggles with declining revenue and persistent market challenges in the clean energy sector. The Connecticut-based company confirmed that the […]
In a landmark development poised to redefine the dynamics of the beauty and personal care industry, the European-based Sodalis Group has announced its acquisition of HRB Brands from Tengram Capital Partners, a middle-market private equity firm. HRB Brands, known for its iconic names such as Alberto VO5, Zest, Brut, and Rave, holds a significant presence […]
Lovesac, the innovative home furnishing company known for its unique modular furniture, saw its shares soar by 25% following the release of its second-quarter fiscal 2025 earnings report. The company’s unexpected performance, which outpaced market expectations, provided a positive jolt to its stock price, driven by a strategic blend of innovation, cost management, and forward-looking […]
Altus Power (NYSE: AMPS), a leader in commercial-scale clean electric power, today announced a significant expansion of its portfolio with the acquisition of approximately 84 megawatts (MWs) of commercial-scale solar arrays from Vitol, the world’s largest independent energy trader. The deal, valued at approximately $118 million, marks a substantial growth step for Altus Power, adding […]
In a shocking turn of events, two Indian students hailing from Telangana and Andhra Pradesh were found dead in their Connecticut accommodation in the US, leaving their families and communities in a state of profound grief and bewilderment. The students, identified as G Dinesh (22) from Wanaparthy, Telangana, and Nikesh (21) from Srikakulam, Andhra Pradesh, […]
A massive storm system, which initially struck South Carolina with record-breaking flooding, has now escalated to a full-blown crisis on the East Coast. More than 300,000 customers in Connecticut, New York, New Jersey, Massachusetts, and Maine are facing power outages as the storm continues its destructive path northward. Widespread Disruption and Danger Residents along the […]
In a significant move that solidifies its stronghold in the global financial services sector, SS&C Technologies Holdings, Inc. (Nasdaq: SSNC), a foremost provider of services and software for the financial and healthcare sectors, has announced the successful acquisition of the Managed Funds Administration (MFA) business from Iress Limited, a leading technology company in the financial […]
Campbell Soup is planning to invest around $50 million over the next three years, to consolidate its snacks offices in Charlotte, North Carolina, and Norwalk, Connecticut, into its headquarters in Camden, New Jersey. The proposed consolidation is expected to help the US food processing company realize cost savings starting in the financial year 2024 and […]
Arlington Capital Partners, a US-based private equity firm, has acquired Avian Vaccine Services business from Charles River Laboratories. The terms of the transaction were not disclosed. The new entity dubbed as AVS Bio will operate independently as a standalone platform for Arlington Capital Partners, and serve the biologic manufacturing and bioprocessing markets. AVS Bio offers […]
Wipro has agreed to acquire Rizing Intermediate Holdings, a US-based SAP consulting firm, for $540 million in a move to considerably grow its breadth of capabilities in driving the transformation of businesses into intelligent enterprises. Headquartered in Stamford, Connecticut, Rizing has over 1,300 employees in 16 countries in North America, Asia, Europe, and Australia. It […]