Genco Shipping & Trading Limited has urged its shareholders to reject Diana Shipping's hostile takeover offer of $24.80 per share, which Genco says undervalues the company below its net asset value and liquidation value. Genco's board argues that Diana's nominees pose risks due to conflicts of interest and poor governance history, and recommends voting for Genco's current directors who have delivered consistent dividends and strong performance. The company remains open to negotiations if Diana presents a fair offer with a control premium. Shareholders are encouraged to vote against Diana's nominees and not tender their shares to protect their investment and benefit from the strengthening drybulk market.
Oil prices are rising sharply due to renewed US naval blockades on Iranian shipping and increased tensions in the Strait of Hormuz, a critical oil transit route. Brent crude is holding above $85 and WTI above $80, with forecasts suggesting WTI could ...
The US government announced it will impose a new 25% tariff on Brazilian ethanol starting next Wednesday, accusing Brazil of unfair trade practices. This tariff excludes major Brazilian exports like oil, beef, coffee, and aircraft parts. The move fol...
Alibaba and Baidu shares rose after Apple received approval from China's Cyberspace Administration to include Apple Intelligence, integrating Alibaba's Qwen AI model and Baidu's AI features into Apple devices in China. This partnership allows users t...
Ondo Finance has introduced the first tokenized stock representations backed by DTCC tokenized entitlements, joining major financial firms in a significant tokenization initiative. This move highlights Ondo's unique position in building infrastructur...
Leading Japanese companies, startups, and research institutions are developing specialized AI models using NVIDIA Nemotron open models to address Japan's unique language, industrial, and workforce challenges. These AI applications range from enterpri...
