Globe Civil Projects Ltd. is making its public debut this week, joining a wave of initial public offerings (IPOs) hitting the Indian markets. The infrastructure company has announced a ₹119 crore issue, opening for public subscription on June 24, 2025, with a completely fresh equity offering. Unlike many IPOs that include an offer for sale (OFS), this issue is entirely comprised of a new issuance of 16.8 million shares, reflecting the company’s intent to raise primary capital for growth.
QXO Inc., led by industry veteran Brad Jacobs, has submitted a $5 billion all-cash acquisition proposal for GMS Inc. $GMS, aiming to expand its footprint in the fragmented building materials distribution sector. With a deadline of June 24, Jacobs has indicated that if GMS’s board rejects the offer, a hostile bid remains a strong possibility. The move follows Jacobs’ strategic pattern of building scale through acquisitions, reinforcing his plan to turn QXO into a $50 billion revenue enterprise within the next decade.
The recent Senate approval of the GENIUS Act has been a pivotal moment for stablecoins in the U.S., creating significant tremors in financial markets. This groundbreaking legislation introduces a federal framework for dollar-pegged stablecoins, leading to noticeable stock increases for Circle $CRCL and Coinbase $COIN.
American Express $AXP has unveiled its most significant overhaul to date for its U.S. consumer and business Platinum Cards. The upcoming changes—set to roll out later this year—underscore the company’s strategic focus on attracting a younger, experience-oriented demographic, particularly Millennials and Gen Z, who collectively accounted for 35% of U.S. consumer spending in the previous quarter. The revamped offerings are not limited to benefits alone; the issuer is also transforming the physical design of its Platinum Cards to better align with contemporary lifestyle aesthetics. These changes mark a pivotal evolution in American Express’s product philosophy, as it adapts to generational shifts in customer preferences.
Oswal Pumps Ltd launched its initial public offering (IPO) on June 13, with the subscription period open through June 17. Ahead of the launch, the company raised ₹416.2 crore (~$50 million) from anchor investors. The allocation included investments from major domestic asset managers, ICICI Prudential MF, Kotak MF, Aditya Birla MF, as well as international players such as BNP Paribas $BNPQY, Societe Generale $SGE.F, and Amundi $AMUN.PA. The anchor book was fully subscribed, signaling institutional confidence in Oswal Pumps’ fundamentals, ahead of its listing on the Bombay Stock Exchange (BSE).
Waymo, a subsidiary of Alphabet Inc. $GOOG, has suspended its self-driving taxi service in downtown Los Angeles after multiple vehicles were set on fire during protests against immigration raids. At least five autonomous cars were damaged, according to KTLA. The company stated it does not believe it was specifically targeted but removed its vehicles following a directive from the Los Angeles Police Department (LAPD). Operations in the area are paused indefinitely.
The victory of Donald Trump in the presidential elections initially positioned Tesla Inc. $TSLA as a beneficiary in investors' eyes. However, this perception has been challenged as the alliance between Trump and high-profile tech entities begins to unravel. Recent developments surrounding a tax and spending bill incited a public dispute between Trump and Elon Musk, escalating concerns about federal contracts and subsidies.
Chart Industries Inc. $GTLS and Flowserve Corp. $FLS, two prominent players in the industrial engineering sector, have agreed to a strategic merger, forming a new entity valued at approximately $19 billion. According to yesterday’s official statement, Chart shareholders will receive 3.165 shares of Flowserve for each Chart share they hold. This transaction structure grants Chart investors a majority position of 53.5% ownership in the future enterprise, marking a significant development in market consolidation.
A sharp downturn affected several leading technology players, including Dell $DELL, CDW $CDW, Caci International $CACI, Parsons $PSN, Leidos, and Adobe $ADBE, during Monday’s trading session. The negative momentum followed the Wall Street Journal’s report detailing an initiative by the Trump administration targeting technology vendors in an aggressive effort to shrink federal procurement spending.
Toyota Motor Corp. $7203.T reported unprecedented monthly sales for the second consecutive time, as global buyers rushed to secure vehicles ahead of impending US-import tariffs. In April, group sales, including subsidiaries Daihatsu Motor Co. and Hino Motors Ltd., rose to 936,718 units worldwide. This figure marked a 12% year-on-year increase and established a new all-time monthly high, as disclosed by the company on Thursday. Correspondingly, global production reached 902,425 vehicles.
Motorola Solutions Inc. $MSI has announced its intent to acquire Silvus Technologies Inc., a recognized front-runner in wireless radio communications, from private equity firm TJC in a $4.4 billion deal. This transaction stands as Motorola’s second-largest purchase, reflecting a clear commitment to strengthening its portfolio within mission-critical wireless systems.
Recent commentary from Goldman Sachs Group Inc. $GS points to a constructive scenario for the Chinese stock market as the yuan (CNY) shows robustness despite persistent trade tensions with the US (USD). According to the bank’s strategists, the Chinese currency’s ability to maintain stability has become an influential factor for equity performance, even as headlines remain focused on geopolitical risks.
