Italy's Leonardo becomes biggest shareholder of Finland's SSH with stake purchase

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  • Italy's Leonardo becomes biggest shareholder of Finland's SSH with stake purchase</p>

<p>Anne KauranenJuly 1, 2025 at 3:29 AM</p>

<p>By Anne Kauranen</p>

<p>HELSINKI (Reuters) -Italy's Leonardo will buy a 24.55% stake in Finland's SSH, making it the latter's biggest shareholder as it expands its cyber security business with this new strategic partnership, the companies announced on Tuesday.</p>

<p>The Italian aerospace and defence group sees cyber security as key for its development and expects double-digit growth in it in the coming years.</p>

<p>The chair of Leonardo, Stefano Pontecorvo, told Reuters recently that the cyber security arena has become essential in new, interconnected multi-domain warfare systems, underscoring the strategic significance of the acquisition.</p>

<p>The deal, subject to conditions, consists of a 20 million euro share issue by SSH to Leonardo, after which Leonardo would be SSH's largest shareholder, SSH said. The current largest owner, Accendo Capital, will continue to hold 20.87%.</p>

<p>SSH offers technologies for securing activities in hybrid cloud environments, including quantum-safe encryption.</p>

<p>"The agreement combines SSH's technological expertise with Leonardo's technologies and solutions, advanced assets and services, and domain-specific knowledge," Leonardo's Chief Executive Roberto Cingolani said in a statement.</p>

<p>The initiative represents a significant step towards the development of a "Made in Europe" Zero Trust ecosystem, Leonardo said, referring to a cyber security approach in which no one can be trusted with access to data.</p>

<p>(Reporting by Anne Kauranen in Helsinki and Giulia Segreti in Rome;Editing by Bernadette Baum)</p>

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Italy's Leonardo becomes biggest shareholder of Finland's SSH with stake purchase

<p>- Italy's Leonardo becomes biggest shareholder of Finland's SSH with stake purchase</p> <p...

A stabbing attack at a German company kills 1 person and seriously wounds 2

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  • A stabbing attack at a German company kills 1 person and seriously wounds 2</p>

<p>July 1, 2025 at 2:36 AM</p>

<p>Police and emergency services stand on the premises of regional grid operator Überlandwerk Rhön, after a man armed with a "sharp object" attacked people at the company, killing at least one, police said, in Mellrichstadt, Germany, Tuesday July 1, 2025. (Daniel Vogl/dpa via AP) ()</p>

<p>BERLIN (AP) — A man armed with a "sharp object" attacked people at a company in Germany, killing at least one, police said.</p>

<p>Two people were seriously wounded in the attack Tuesday in Mellrichstadt, a small town east of Frankfurt in southern Germany, police said in posts on social network X.</p>

<p>A 21-year-old German man was arrested.</p>

<p>There was no danger to the public, authorities said.</p>

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A stabbing attack at a German company kills 1 person and seriously wounds 2

<p>- A stabbing attack at a German company kills 1 person and seriously wounds 2</p> <p>July 1, 2025...

Thailand's Deputy PM Suriya to become caretaker premier, minister says

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  • Thailand's Deputy PM Suriya to become caretaker premier, minister says</p>

<p>July 1, 2025 at 2:16 AM</p>

<p>BANGKOK (Reuters) -Thailand's Deputy Prime Minister Suriya Juangroongruangkit will become caretaker premier after a court suspended Prime Minister Paetongtarn Shinawatra from duty on Tuesday, Tourism Minister Sorawong Thienthong told Reuters.</p>

<p>Suriya, 70, also currently serves as transport minister. Paetongtarn has 15 days to respond the Constitutional Court after she was accused of dishonesty and breaching ethical standards over a leaked telephone conversation with Cambodia's influential former leader Hun Sen last month.</p>

<p>(Reporting by Panarat Thepgumpanat; Writing by Devjyot Ghoshal; Editing by Martin Petty)</p>

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Thailand's Deputy PM Suriya to become caretaker premier, minister says

<p>- Thailand's Deputy PM Suriya to become caretaker premier, minister says</p> <p>July 1, 2025 ...

US startup Lyten to take over Northvolt's energy storage systems factory in Poland

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  • US startup Lyten to take over Northvolt's energy storage systems factory in Poland</p>

<p>July 1, 2025 at 2:04 AM</p>

<p>WARSAW (Reuters) -Silicon Valley startup Lyten will take full ownership of Northvolt Dwa ESS, Europe's largest energy storage systems factory, in a move to expand its product line, the U.S. company said on Tuesday.</p>

<p>Northvolt filed for bankruptcy in March, one of Sweden's largest corporate failures and effectively ending Europe's best hope of developing a rival to challenge Chinese battery makers. It announced the factory's closure in November last year.</p>

<p>"We plan to immediately restart operations in Poland and deliver on existing and new customer orders," Dan Cook, Lyten CEO and co-founder, said in a statement.</p>

<p>The 25,000 square metre (269,000 square feet) battery energy storage system manufacturing and R&D facility in Gdansk, Poland, opened in 2023.</p>

<p>The facility includes equipment for up to 6 gigawatt-hours of energy storage manufacturing capacity and the footprint to expand to 10 GWh in the future, Lyten said in a statement, adding that it had contracted orders extending into 2026.</p>

<p>The financial terms of the transaction, which is expected to be completed in the third quarter, were not disclosed.</p>

<p>(Reporting by Anna Koper and Marek Strzelecki. Editing by Mark Potter)</p>

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US startup Lyten to take over Northvolt's energy storage systems factory in Poland

<p>- US startup Lyten to take over Northvolt's energy storage systems factory in Poland</p> <p>J...

Senate vote-a-rama to pass Trump's $3.3 trillion bill extends into second day

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  • Senate vote-a-rama to pass Trump's $3.3 trillion bill extends into second day</p>

<p>David Morgan, Richard Cowan and Bo EricksonJuly 1, 2025 at 1:28 AM</p>

<p>By David Morgan, Richard Cowan and Bo Erickson</p>

<p>WASHINGTON(Reuters) -U.S. Senate Republicans in the early hours of Tuesday morning were still trying to pass President Donald Trump's sweeping tax-cut and spending bill, despite divisions within the party about its expected $3.3 trillion hit to the nation's debt pile.</p>

<p>Senators were voting in a marathon session known as a "vote-a-rama," featuring a series of amendments by Republicans and the minority Democrats, part of the arcane process Republicans are using to bypass Senate rules that normally require 60 of the chamber's 100 members to agree on legislation.</p>

<p>Beginning on Monday and ongoing for over 16 hours, it was still unclear how long the voting would last. Lawmakers said the process had been held up partly by the need to determine whether amendments complied with special budgetary rules.</p>

<p>Shortly after midnight, Senate Majority Leader John Thune told reporters the vote-a-rama was "hopefully on the home stretch and then we'll see where the votes are."</p>

<p>Republicans can afford to lose no more than three votes in either chamber to pass a bill the Democrats are united in opposition to.</p>

<p>The nonpartisan Congressional Budget Office released its assessment on Sunday of the bill's hit to the $36.2 trillion U.S. debt pile. The Senate version is estimated to cost $3.3 trillion, $800 billion more than the version passed last month in the House of Representatives.</p>

<p>Many Republicans dispute that claim, contending that extending existing policy will not add to the debt. Nonetheless, international bond investors see incentives to diversify out of the U.S. Treasury market.</p>

<p>Democrats, meanwhile, hope the latest, eye-widening figure could stoke enough anxiety among fiscally minded conservatives to get them to buck their party, which controls both chambers of Congress.</p>

<p>"This bill, as we have said for months, steals people's healthcare, jacks up their electricity bill to pay for tax breaks for billionaires," Democratic Senate Minority Leader Chuck Schumer said in a speech to the Senate.</p>

<p>Thune countered that the tax cuts will help families and small businesses, as he defended spending reductions to social safety net programs.</p>

<p>He said Medicaid was growing at an unsustainable rate and there were some improvements and reforms to make it more efficient.</p>

<p>The Senate narrowly advanced the tax-cut, immigration, border and military spending bill in a procedural vote late on Saturday, voting 51-49 to open debate on the 940-page megabill.</p>

<p>Trump wants the bill passed before the July 4 Independence Day holiday.</p>

<p>Amendments proposed by Democratic senators such as the proposed limiting cuts to Medicaid were rejected by the Republican majority.</p>

<p>Embedded in the Senate Republicans' bill are several hot-button political issues, like a prohibition of Medicaid funding for a list of almost 30 medical procedures related to gender transition, as well as an increase of immigration-related funding for criminal and gang checks for unaccompanied migrant children, including examinations of "gang-related tattoos" for children as young as 12 years old.</p>

<p>Early on Tuesday, Democrats and Republicans voted down an attempt by Republican Senator Susan Collins to cushion the impact of Medicaid cuts on rural health facilities by doubling federal support to $50 billion over five years and paying for the increase by raising the top federal tax rate. The measure still drew support from 18 Republicans.</p>

<p>Elon Musk, formerly appointed by Trump to spearhead his government cost-cutting plan before the pair had a public falling-out in June over the budget bill, threatened on Monday to target Republicans ahead of the 2026 mid-term election.</p>

<p>"Every member of Congress who campaigned on reducing government spending and then immediately voted for the biggest debt increase in history should hang their head in shame!," Musk posted on X.</p>

<p>He also reiterated his interest in a new political party and accused lawmakers in both parties of belonging to the "porky pig party," a dig at government spending levels.</p>

<p>The U.S. Chamber of Commerce, which says the majority of its members are small businesses, backs the bill.</p>

<p>However, John Arensmeyer, who represents more than 85,000 small enterprises at the Small Business Majority, cautioned that the business tax relief is currently skewed to the wealthiest, top 5% of small businesses.</p>

<p>The Republican measure contains a $5 trillion debt ceiling increase - $1 trillion more than the House's bill - but failure to pass some version would present lawmakers with a serious deadline later this summer, when the Treasury Department could come close to exhausting its borrowing authority and thus risk a devastating default.</p>

<p>The debt limit increase has caused Senator Rand Paul of Kentucky to come out in opposition to the bill, joining fellow Republican Tillis, who decried its cuts to Medicaid and clean energy initiatives.</p>

<p>According to the Congressional Budget Office, the Senate bill would result in about 11.8 million additional uninsured people, surpassing estimates for the House's version.</p>

<p>If the Senate succeeds in passing the bill, it will then go to the House, where members are also divided, with some angry about its cost and others worried about cuts to the Medicaid program.</p>

<p>The megabill would extend the 2017 tax cuts that were Trump's main legislative achievement during his first term as president, cut other taxes and boost spending on the military and border security.</p>

<p>Senate Republicans, who reject the budget office's estimates on the cost of the legislation, are set on using an alternative calculation method that does not factor in costs from extending the 2017 tax cuts.</p>

<p>Outside tax experts, like Andrew Lautz from the nonpartisan think tank Bipartisan Policy Center, call it a "magic trick."</p>

<p>Using this calculation method, the Senate Republicans' budget bill appears to cost substantially less and seems to save $500 billion, according to the BPC analysis.</p>

<p>(Writing by Richard Cowan and Costas Pitas; Editing by Michael Perry)</p>

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Senate vote-a-rama to pass Trump's $3.3 trillion bill extends into second day

<p>- Senate vote-a-rama to pass Trump's $3.3 trillion bill extends into second day</p> <p>David ...

 

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