Archive

June 27, 2025

Browsing

Jio Financial shares witnessed a steep rally on Friday after India’s stock market regulator SEBI gave a green signal to the newly formed Jio BlackRock Broking.

With approval from the Securities Exchange Board of India (SEBI), Jio BlackRock Broking can start its operations and act as a stockbroker and clearing member.

In a regulatory filing with SEBI, Jio Financial informed that:

“The Securities and Exchange Board of India has granted a certificate of registration dated June 25, 2025, to Jio BlackRock Broking Private Limited to act as a stockbroker/clearing member.”

The development pushed the share prices of Jio Financial Services, which traded around 5% higher at Rs 326.55 during the day.

Jio BlackRock Broking Private Limited is fully owned by Jio BlackRock Investment Advisers Private Limited.

This is not the first good news for the Jio BlackRock partnership in India as earlier SEBI gave its approval to Jio BlackRock Investment Advisers to operate as investment advisors.

Potential disrupter

Jio BlackRock’s entry is being viewed as a game-changer for India’s Rs 72 lakh crore mutual fund market, which is currently dominated by 44 asset management firms handling assets worth roughly $813.8 billion.

The venture brings together Jio’s expansive digital reach and BlackRock’s international investment know-how.

Its goal is to reduce costs, enhance transparency, and make investment options available even in the remotest parts of India.

According to several investment advisors in India, this move could mark a turning point for the country’s mutual fund landscape.

They believe it may drive greater technological adoption and cost efficiency, ultimately helping the industry reach a much broader section of the population.

Jio Financial shares: What’s more behind recent surge?

The Jio Financial shares are trading high this week after its recent acquisition of more than 7.9 crore equity shares in Jio Payments Bank Limited (JPBL) from the State Bank of India (SBI). The deal, valued at Rs 104.54 crore, was finalized last week.

Originally announced in March, the move marks JFS’s plan to buy SBI’s 17.8% stake in the payments bank and is being viewed as a strategic push to deepen its presence in the digital payments and fintech space.

Jio Financial Services shares have risen nearly 7% since the start of the year, keeping pace with the Sensex, which has posted a similar gain.

However, over the past 12 months, the stock is down around 8%, having touched its 52-week low of Rs 198.60 on March 3.

Its highest point in the same period was Rs 363, reached on September 27 last year.

The surge in Jio Financial shares came amid an overall upbeat trend in the Indian markets as the benchmark indices are trading very close to their all-time highs.

The Indian markets are closely following its Wall Street peers as US stock indices briefly touched a new record on Thursday after a strong backing from tech stocks.

The post Jio Financial shares rally close to 5% after SEBI nod to Jio BlackRock Broking appeared first on Invezz

Tudor Gold (TSXV:TUD,OTC Pink:TDRRF) has signed a definitive agreement to acquire American Creek Resources (TSXV:AMK,OTCQB:ACKRF) in an all-share transaction, marking a consolidation in BC’s Golden Triangle.

Under the deal, dated Wednesday (June 25), each American Creek shareholder will receive 0.238 shares of Tudor for each share held, effectively giving Tudor an 80 percent ownership stake in the Treaty Creek project — one of Canada’s largest undeveloped gold-copper porphyry systems. American Creek previously held a fully carried 20 percent interest.

‘Our acquisition of American Creek increases our interest to 80 percent in the Treaty Creek Project, which hosts one of the largest gold discoveries in Canada with excellent potential for expansion and additional gold-copper discoveries, at a reasonable per ounce of gold equivalent cost,’ said Joe Ovsenek, Tudor Gold president and CEO, in a press release.

According to Tudor, Treaty Creek is located adjacent to world-class deposits held by Seabridge Gold (TSX:SEA,NYSE:SA) and Newmont (TSX:NGT,NYSE:NEM). Treaty Creek’s flagship Goldstorm deposit is a large-scale system that holds both gold and copper mineralization, and the project has consistently returned high-grade intercepts.

The transaction also includes the settlement of up to US$2.22 million in severance obligations to American Creek insiders — US$1 million in cash and the remainder in Tudor shares at a price of US$0.537 per share.

These shares will be subject to a four month statutory hold period, pending approval from the TSX Venture Exchange.

Golden Triangle deal mirrors global M&A trend

The Tudor-American Creek deal is the latest in a wave of mining sector consolidations driven by a record gold price, rising corporate cash reserves and dwindling new deposit discoveries.

Notable deals in the first half of 2025 include the C$2.6 billion merger of Equinox Gold (TSX:EQX,NYSEAMERICAN:EQX) and Calibre Mining, which was announced in February and closed this month.

In Australia, Northern Star Resources (ASX:NST,OTC Pink:NESRF) closed its AU$5 billion acquisition of De Grey Mining in May. De Grey was the owner of the massive Hemi gold deposit. The same month, Gold Fields (NYSE:GFI,JSE:GFI) made a US$2.4 billion bid for Gold Road Resources (ASX:GOR,OTC Pink:ELKMF).

Ramelius Resources’ (ASX:RMS,OTC Pink:RMLRF) AU$2.4 billion acquisition of Spartan Resources (ASX:SPR,OTC Pink:GYYSF), announced in March, further underscores the appetite for consolidation.

Data from S&P Global Commodity Insights shows last year’s M&A activity laid the groundwork for this trend.

With US$26.54 billion in deal value across 62 qualifying transactions, gold remained the dominant metal of focus, accounting for 43 deals and US$19.31 billion of total deal value. ‘Ever-depleting mining reserves and limited exploration success mean that acquisition is now the key strategy for growth,’ the report notes.

Gold’s record price rise, which took it to the US$3,500 per ounce level in April, has made previously uneconomic deposits viable and pushed miners’ margins to historic highs.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

The Tennis Channel is extending its deal with the Women’s Tennis Association that will see the cable TV network and streaming service continue to broadcast more than 2,000 matches each season.

While terms of the deal weren’t disclosed, Tennis Channel CEO Jeff Blackburn told CNBC in an interview there was a “pretty big step up in our payments” to the WTA for the U.S. media rights, which includes international tournaments and the WTA Finals event. The new agreement lasts through 2032.

“Our goal and mission is to just cover pro tennis and the game of tennis like no one else, every day, every hour, all year round. There’s no offseason,” Blackburn said. “WTA plays a huge role in that and it was a big priority for me to make sure that we renewed our relationship and extend it as long term as we were able.”

The exclusive rights renewal comes as the Tennis Channel is in the midst of a transition on several fronts.

Last year, longtime Tennis Channel CEO Ken Solomon was ousted from the company. Blackburn stepped into the role in early May, following a 24-year career at Amazon, where he helped to build out Prime Video and expand the streaming service into sports, among other businesses.

Meanwhile, Sinclair, the owner of broadcast stations as well as the Tennis Channel, had recently considered offloading the network, CNBC previously reported. The parent company, however, is no longer exploring a sale of the Tennis Channel, particularly since Blackburn has taken the helm, according to a person familiar with the matter who spoke on the condition of anonymity to discuss nonpublic details.

In the backdrop, the Tennis Channel, like its network peers, is contending with the continued loss of customers from the pay-TV bundle. While live sports garner the biggest audiences — and leagues have reaped huge rights payouts as a result — media companies are focused on growing the profitability of their streaming businesses.

In 2014 the 24/7 tennis network took its first step into streaming with Tennis Channel Plus, and later in 2022 introduced Tennis Channel 2, a free, ad-supported streaming channel. While Blackburn said Tennis Channel 2 has been successful and attracted a younger audience, he is focused on beefing up the Tennis Channel’s recently launched direct-to-consumer streaming app.

The app, which launched in November 2024, costs $9.99 a month or $109.99 annually and offers the same programming as the pay-TV network. Media companies are increasingly offering the same live sports featured on pay-TV networks on their counterpart streaming alternatives — most notably with the launch of Disney’s flagship ESPN app later this year.

“What’s important about the partnership is that they’re committing to doing more with us,” said Marina Storti, CEO of WTA Ventures, the commercial arm of the WTA. “They’re committed to that increased exposure across all of their platforms. They’re committed to ensuring this kind of equal exposure for women and men, where they have the rights. And they’re making a significant commitment. There is a substantial increase in the rights fees, which is a big milestone for us as part of our plan and commitment to growing.”

The Tennis Channel’s agreement with the WTA covers a large swath of the WTA’s tournaments outside of North America through the season-closing WTA Finals.

The audience for WTA events on the Tennis Channel has been growing, particularly among the younger demographic. Viewership among 18- to 34-year-olds on the Tennis Channel has grown annually for each of the past two years, according to a news release.

The deal comes as American female tennis players have shot to the top of global rankings and women’s sports in general have seen a rise in popularity and investment funding.

Already in 2025, two American women have won two of the top majors: Madison Keys took the Australian Open in January, and Coco Gauff was crowned the winner of the French Open in June. Gauff and Keys will be among the participants at Wimbledon, which kicks off on Monday.

“Tennis is really the only major sport where the men’s and women’s game is on equal footing, and that’s really important,” said Blackburn. “I think for tennis it makes it unique. The growth of women’s sports overall? Maybe basketball and soccer will get there, but I think tennis is way ahead in terms of providing that for the fan.”

The Tennis Channel 2 free streaming option has earmarked every Tuesday as “Women’s Day” — showing only women’s match coverage — and Blackburn highlighted the network’s roster of heavy-hitting female talent, including former players and Hall of Famers Martina Navratilova and Lindsay Davenport, among others.

The deal extension also builds on WTA Ventures’ recent efforts to grow its commercial revenue and build the profiles of its athletes.

In 2023 the WTA formed a strategic partnership with private equity firm CVC Capital Partners, which invested $150 million for a 20% stake in the newly created WTA Ventures. The entity was formed to focus on growing commercial revenue through sponsorships and media rights deals, with the goal of tripling its revenue by 2029.

In 2024 WTA Ventures said it expected to increase revenue by 24% in its first full year.

The media rights extension marks the first renegotiation with the Tennis Channel under the WTA Ventures framework. The WTA’s long-standing media rights deal with streaming service DAZN expires at the end of next year, and talks have begun for new deals that would begin in 2027, said Storti.

WTA Ventures said its global audience surpassed 1 billion viewers on broadcast and streaming last season, and Storti said the U.S. is among one of the WTA’s biggest growth markets, along with China and Poland.

“We are a completely mass-market product that attracts hundreds of millions of fans across the world, and I would say we deliver a product that stands kind of shoulder to shoulder with the men counterpart,” Storti said.

The WTA has also recently emphasized improvements for players.

This year it’s has announced a paid maternity leave funded by the Saudi Public Investment Fund, as well as a new policy allowing players to protect their rankings during fertility treatments

Still, tennis is not without its issues of disparity. While the U.S. Open awarded equal prize money to men and women beginning in 1973, it was decades ahead of Wimbledon and other majors. And while equal prize money is given at the majors level, there’s still a considerable pay gap at lower-level tournaments.

The sport also drew criticism around the 2025 French Open when the majority of prime-time slots went to men’s matches.

This post appeared first on NBC NEWS

Those who leaked a preliminary assessment — rejected by the White House — on the U.S. strikes on Iranian nuclear facilities will face justice for sharing the document, according to White House Press Secretary Karoline Leavitt. 

President Donald Trump and multiple leaders are saying that the strikes destroyed three Iranian nuclear sites.  

A leaked report from the Defense Intelligence Agency, published by CNN and the New York Times, cast doubt on that though, saying that the strikes only set back Iran’s nuclear program by several months. CNN first reported the assessment’s findings, citing seven people who were briefed on the report. The outlet reported the findings were based on a battle damage assessment from U.S. Central Command. 

Leavitt pushed back on the early assessment’s credibility, claiming the report was ‘flat-out wrong.’ 

‘Everyone knows what happens when you drop 14 30,000-pound bombs perfectly on their targets: total obliteration,’ Leavitt said in a Tuesday statement. 

Secretary of Defense Pete Hegseth said Wednesday that the FBI is conducting an investigation to get to the bottom of the matter and who shared the document with the media. 

Additionally, Leavitt told reporters that leaking classified information is a criminal offense and that those who fail to follow the law ‘need to be held accountable for that crime.’ 

‘This administration wants to ensure that classified intelligence is not ending up in irresponsible hands, and that people who have the privilege of viewing this top secret classified information are being responsible with it,’ Leavitt told reporters Thursday. 

‘Clearly, someone who had their hands on this and it was a very few people, very few number of people in our government who saw this report,’ Leavitt said. ‘That person was irresponsible with it. And we need to get to the bottom of it. And we need to strengthen that process to protect our national security and protect the American public.’ 

Meanwhile, the U.S., Israel and Iran’s Foreign Ministry have all said that the three nuclear sites U.S. forces struck have encountered massive damage. 

Iran’s Foreign Ministry spokesman Ismail Baghaei told Al Jazeera Wednesday that the country’s nuclear facilities were ‘badly damaged,’ and Israel’s Atomic Energy Commission said the U.S. strikes were ‘devastating.’

On Sunday, Chairman of the Joint Chiefs of Staff Gen. Dan Caine said that initial battle damage assessments suggest ‘all three sites sustained extremely severe damage and destruction.’

Trump issued a word of caution to Iran Wednesday, should it attempt to repair its nuclear program once more, and said the U.S. wouldn’t hesitate to launch another strike against Iran. 

Trump personally called for the firing of one of the reporters who authored the story about the initial assessment, claiming in a Wednesday Truth Social post that the reporter should be ‘IMMEDIATELY reprimanded, and then thrown out ‘like a dog.’’

Even so, CNN came to the defense of the reporter, Natasha Bertrand. 

‘We stand 100% behind Natasha Bertrand’s journalism and specifically her and her colleagues’ reporting of the early intelligence assessment of the U.S. attack on Iran’s nuclear facilities,’ CNN said in a Wednesday statement. ‘CNN’s reporting made clear that this was an initial finding that could change with additional intelligence. We have extensively covered President Trump’s own deep skepticism about it.’

Fox News’ Brooke Singman contributed to this report. 

This post appeared first on FOX NEWS