Category: 3. Business

As of the end of July 2025, Equinox Gold Corporation (EQX) has a market capitalization of approximately $6.4 billion, making it one of the more prominent mid-cap gold mining companies. This is the third mid-cap gold miner I have analyzed this month, following Eldorado Gold (NYSE:EGO) and Alamos Gold (NYSE:AGI).

Headquartered in Canada, Equinox Gold operates a diverse portfolio of assets primarily in North and South America, with a growing presence in Latin America. Equinox Gold shares similarities with Eldorado Gold and Alamos Gold, focusing on mining-friendly jurisdictions and committing to growth through disciplined capital deployment. In terms of production over the past 12 months, Equinox produced 655,458 gold ounces, which is slightly higher than the other two miners indicated above.

Equinox Gold is known for its aggressive expansion strategy, having made several significant acquisitions in recent years, including the integration of the Aurizona and Castle Mountain mines. The company has made a significant advancement by acquiring Calibre Mining on June 17, 2025. This acquisition adds two high-quality Canadian mines to Equinox’s portfolio: the Greenstone Mine in Ontario, which has recently commenced commercial production with 44,449 gold ounces in 1Q25, and the Valentine Gold Mine in Newfoundland, which is set to pour its first gold later this year.

Together, these mines have the potential to produce nearly 600,000 ounces of gold annually. This new addition could bring Equinox’s total production close to one million ounces by 2025, with the potential to exceed 1.2 million ounces as operations expand. This move is a major step toward establishing Equinox Gold as a leading gold producer in the Americas. However, while this growth-oriented approach offers exciting potential for investors, it also introduces a level of operational complexity and risks that should be carefully assessed before making a long-term investment in EQX. The production of 1Q25 originated from eight different mines.

Despite being the highest first quarter in the company’s history, with 145,290 gold ounces, gold production in 1Q25 has been noticeably lower than the two preceding quarters, as illustrated in the graph below:

Equinox Gold is facing issues as it ramps up operations at the Greenstone Mine (equipment issues, lower-than-expected grades, and recovery problems have already led to a cut in 2025 production forecasts). Integrating Calibre’s mines, particularly the new Valentine project, presents a challenge for the team, as they must manage complex logistics across Canada, the United States, Brazil, and Nicaragua. Balancing these technical issues while ensuring cost control, environmental compliance, and maintaining a stable workforce will be challenging. However, successfully navigating this situation is crucial for Equinox’s future.

Several factors contribute to Equinox Gold’s All-In Sustaining Cost (AISC), which has risen to a record high of $2,065 per ounce in 1Q25 (see chart below). Notably, cost overruns in Brazil and the temporary suspension of operations at Los Filos have led to unrecovered fixed costs. Conversely, the price of gold received in 1Q25 was a record of $2,858 per ounce, which helped mitigate the negative effects in the first quarter. This trend is expected to continue in 2Q25, with the gold price likely to reach above $3,250 per ounce.

In April 2025, operations at Equinox Gold’s Los Filos mine were suspended due to the expiration of a land access agreement with the Carrizalillo community. While the company had agreements in place with two other local communities, Carrizalillo withheld its consent due to unresolved issues, including a lack of transparency regarding contractor income. This situation led to protests and a breakdown in negotiations. Consequently, Los Filos was removed from the 2025 production guidance and reclassified as a development-stage project. The suspension has delayed expansion plans and significantly reduced the mine’s output potential for the year. Unless these issues are resolved soon, this suspension could jeopardize Equinox’s broader production targets and diminish the strategic value of its operations in Mexico.

For the reasons mentioned above, Equinox Gold appears to be riskier than both Eldorado and Alamos. It also has weaker free cash flow and does not pay a dividend, in contrast to Alamos, which has strong financials and stable operations. Alamos Gold is currently paying a very small dividend that may be increased in the future.

While Equinox may seem to be trading at a discount, its short-term outlook remains uncertain, and the second quarter of 2025 will be crucial for understanding how Equinox is adapting. Therefore, Eldorado and Alamos provide more stability, better technical momentum, and slightly lower geopolitical risks, making them a safer option for gold-focused investors.

Equinox Gold has aggressively expanded over the past five years, transforming into a major gold producer with a focus on the Americas. Key milestones include the 2020 Leagold merger, which significantly increased production capacity, and the 2021 Premier Gold acquisition, which secured a stake in Canada’s Greenstone Project. The 2024 consolidation of Greenstone ownership and the 2025 merger with Calibre Mining further solidify Equinox’s position as a top-tier producer, with nine operating mines and major growth assets, such as Valentine. These moves reflect a clear strategy: build scale, focus on stable jurisdictions, and increase long-term value through operational control and a robust project pipeline.

Equinox Gold primarily operates as a gold mining company, with gold sales accounting for approximately 97% of its total revenue in the first quarter of 2025. The company began 2025 with strong operational and financial results, reporting solid gold production for the first quarter despite a sharp decline from the fourth quarter of 2024. It produced 145,290 ounces of gold in 1Q25, marking its highest output ever for a first quarter. This achievement was driven by a continued ramp-up at Greenstone, despite some challenges, and steady contributions from its core operations across the Americas.

Equinox Gold reported a strong revenue performance, driven by record gold prices, but faced significant challenges to profitability due to operational disruptions. The company achieved a new first-quarter production record by producing 145,290 ounces of gold, primarily due to the ongoing ramp-up at its Greenstone project and consistent output from its portfolio across the Americas.

Thanks to a substantial 38% increase in realized gold prices, reaching $2,858 per ounce (see chart above), along with a 27% growth in ounces sold (147,290 ounces), Equinox achieved an impressive 76% year-over-year increase in revenue but down 26.3% quarter over quarter, totaling $423.7 million in 1Q25 as shown in the chart below.

This top-line strength highlights Equinox’s core identity as a pure-play gold producer and demonstrates its ability to capitalize on favorable market conditions.

Despite experiencing impressive revenue growth, the company reported a net loss of $75.5 million, which is an increase from the $42.8 million loss reported the previous year. This substantial decline in profitability was primarily due to a $28.6 million inventory write-down, as well as $9.9 million in care and maintenance expenses resulting from the suspension of operations at the Los Filos mine, which I previously discussed.

The one-time charges, along with increased cash costs and higher sustaining costs, which averaged $1,769 per ounce for cash costs and a significant $2,065 per ounce for all-in sustaining costs (AISC), are putting pressure on profitability. When excluding the Los Filos operations, costs showed improvement but remained above last year’s levels. This reflects ongoing inflationary pressures and operational challenges, particularly during the ramp-up at the Greenstone mine.

On a positive note, income from mine operations rose to $33.7 million, more than doubling the $11.4 million reported in 1Q24. This increase was largely driven by Greenstone’s growing contribution of $24.4 million. The company also reported a modest EBITDA of $81.04 million and experienced a deficit of $39.2 million in free cash flow, due to a low operational cash flow of $54.49 million.

Equinox’s balance sheet remains moderately leveraged, with $178.26 million in cash, cash equivalents, and marketable securities. The net debt was approximately $1.215 billion as of March 31, 2025.

This financial position highlights the significance of the recent merger with Calibre Mining, which was completed on June 17, 2025. Calibre shareholders received 0.35 Equinox Gold shares for each Calibre share, reflecting a 10% premium over Calibre’s pre-announcement trading price.

The completion of the Calibre acquisition marks a significant milestone for Equinox Gold, strengthening its position as a larger and more diversified gold producer across the Americas. With flagship assets like the Greenstone Project and the soon-to-be fully operational Valentine Mine, Equinox is on track to become Canada’s second-largest gold producer by the time Valentine reaches full production, which is anticipated in late 2025. This merger not only aims to expand the company’s scale but also seeks to transform Equinox into a more resilient, balanced, and opportunity-rich enterprise for the long term.

The merger aims to establish a more diversified gold producer, enhancing scale, cash flow, and financial flexibility to manage debt maturities and pursue growth opportunities. However, such a deal always has its share of issues, and investors should be cautious not to be overly optimistic.

In summary, Equinox Gold’s 1Q25 results reveal a company at a critical juncture. The combination of record production and rising gold prices drove exceptional revenue growth and cash flow, but operational disruptions and higher costs led to a wider net loss. Moving forward, the successful integration of Calibre’s assets, continued ramp-up at Greenstone, and disciplined cost management will be key to turning its strong top-line momentum into sustainable profits and shareholder value.

Furthermore, the indefinite suspension of Los Filos is also a major unexpected event for Equinox Gold, both operationally and strategically. As one of its higher-cost mines, Los Filos added volume but diluted margins. Its closure in April 2025 will likely improve the company’s average cost profile but reduce overall production (Los Filos produced 31,518 ounces in 1Q25).

The larger issue to consider here is the long-term implications: without community agreements, the asset risks becoming stranded, which would lock up a substantial portion of reserves and limit growth opportunities. In the short term, Equinox needs to rely more on its Greenstone, Mesquite, and newly acquired Calibre assets to maintain output. At the same time, rebuilding trust and engagement in Mexico will remain a critical challenge moving forward.

Gold prices have stabilized around $3,322 per ounce after hitting a record high of $3,500.05 on April 22, 2025. Although the market has cooled slightly, the broader trend indicates significant structural changes in global investor behavior.The surge in gold prices reflects more than just a shift toward safety; it indicates a profound erosion of trust in traditional financial and geopolitical anchors. Inflationary pressures remain elevated due to sustained fiscal expansion, supply chain disruptions, and increasing protectionist policies. At the same time, ongoing geopolitical tensions, especially the instability in Eastern Europe and the Middle East, continue to heighten global uncertainty.The outlook for long-term U.S. government bonds is gradually declining. Real interest rates have fallen into negative territory, and there are growing concerns about the increasing federal debt, particularly in light of the recently enacted spending bill and escalating tariff disputes. These issues raise doubts about the future strength of the dollar. On the other hand, the market has been thriving and continues its upward trajectory without pause since the “liberation day” shock. This exuberant market behavior often signals the potential for a significant and prolonged correction, which could ultimately benefit gold as well.Gold, once viewed as anachronistic, is being redefined as a critical strategic asset in a world where fiat currencies are losing their credibility. With limited new mine supply and strong demand from central banks, gold’s structural support appears robust. While short-term corrections are inevitable, the elevated price levels suggest that the revaluation of gold may signal not just a price spike, but a fundamental shift in the monetary landscape.If current macroeconomic and geopolitical trends persist, a sustained price floor above $3,200 could become a lasting aspect of the new economic landscape. This likely scenario is very favorable for Equinox Gold and other gold miners, which have not.

Note: Technical Analysis uses StockCharts as a chart background.

Equinox Gold is forming an ascending triangle pattern, with resistance around $6.75 and support near $6.20. Although an ascending triangle is typically viewed as a bullish chart pattern, it also signal a potential bullish breakout, especially when selling pressure begins to wane. The Relative Strength Index (RSI) is currently at 55 and rising, hinting at a possible retest of the $6.20 support level before either dropping back to lower support or rally again to $6.75 and eventually cross the resistance.It may be wise to sell a portion of your shares when the stock price rises between $6.70 and $6.80. If the stock breaks out, the next support level will be at $7.10, at which point I recommend selling another part of your position. I believe that selling all of your shares is not the best option; therefore, it would be prudent to retain about 30% of your position for the longer term. Make sure to keep an eye on the volume, as it might indicate an upcoming reversal. Utilizing the LIFO (Last In, First Out) method to sell part of your position is crucial, especially if the stock demonstrates a false bullish breakout followed by a quick and prolonged retracement. For further details, please refer to the chart above.

Conversely, increasing your position between $6.22 and $6.10 seems reasonable. If a breakdown occurs, the next support level is $5.80.

Warning: The technical analysis chart should be updated regularly to ensure accuracy.

This article first appeared on GuruFocus.

TORONTO (AP) — Air Canada said it suspended plans to restart operations on Sunday after the union representing 10,000 flight attendants said it will defy a return-to-work order. The strike was already affecting about 130,000 travelers around the world per day during the peak summer travel season.

The Canada Industrial Relations Board ordered airline staff back to work by 2 p.m. Sunday after the government intervened and Air Canada said it planned to resume flights Sunday evening.

READ MORE: Government forces striking flight attendants back to work and into arbitration with Air Canada

Canada’s largest airline now says it will resume flights Monday evening. Air Canada said in a statement that the union “illegally directed its flight attendant members to defy a direction from the Canadian Industrial Relations Board.”

“Our members are not going back to work,” Canadian Union of Public Employees national president Mark Hancock said outside Toronto’s Pearson International Airport. “We are saying no.”

The federal government didn’t immediately provide comment on the union refusing to return to work.

Hancock said the “whole process has been unfair” and said the union will challenge what it called an unconstitutional order.

“Air Canada has really refused to bargain with us and they refused to bargain with us because they knew this government would come in on their white horse and try and save the day,” he said.

The country’s largest airline had said early Sunday in a release that the first flights would resume later in the day but that it will take several days before its operations return to normal. It said some flights will be canceled over the next seven to 10 days until the schedule is stabilized.

Less than 12 hours after workers walked off the job, Federal Jobs Minister Patty Hajdu ordered the 10,000 flight attendants back to work, saying now is not the time to take risks with the economy and noting the unprecedented tariffs the U.S. has imposed on Canada. Hajdu referred the work stoppage to the Canada Industrial Relations Board.

The airline said the CIRB has extended the term of the existing collective agreement until a new one is determined by the arbitrator.

The shutdown of Canada’s largest airline early Saturday was impacting about 130,000 people a day. Air Canada operates around 700 flights per day.

Flight attendants walked off the job around 1 a.m. EDT on Saturday. Around the same time, Air Canada said it would begin locking flight attendants out of airports.

The bitter contract fight escalated Friday as the union turned down Air Canada’s prior request to enter into government-directed arbitration, which allows a third-party mediator to decide the terms of a new contract.

Last year, the government forced the country’s two major railroads into arbitration with their labor union during a work stoppage. The union for the rail workers is suing, arguing the government is removing a union’s leverage in negotiations.

The Business Council of Canada had urged the government to impose binding arbitration in this case, too. And the Canadian Chamber of Commerce welcomed the intervention.

Hajdu maintained that her Liberal government is not anti-union, saying it is clear the two sides are at an impasse.

Passengers whose flights are impacted will be eligible to request a full refund on the airline’s website or mobile app, according to Air Canada.

The airline said it would also offer alternative travel options through other Canadian and foreign airlines when possible. Still, it warned that it could not guarantee immediate rebooking because flights on other airlines are already full “due to the summer travel peak.”

Air Canada and CUPE have been in contract talks for about eight months, but they have yet to reach a tentative deal. Both sides have said they remain far apart on the issue of pay and the unpaid work flight attendants do when planes aren’t in the air.

The airline’s latest offer included a 38% increase in total compensation, including benefits and pensions, over four years, that it said “would have made our flight attendants the best compensated in Canada.”

But the union pushed back, saying the proposed 8% raise in the first year didn’t go far enough because of inflation.

TORONTO, Canada (AP) — Air Canada said it suspended plans to restart operations on Sunday after the union representing 10,000 flight attendants said it will defy a return to work order.

The Canada Industrial Relations Board ordered airline staff back to work by 2 p.m. Sunday after the government intervened and Air Canada said it planned to resume flights Sunday evening.

Canada’s largest airline now says it will resume flights Monday evening.

“Our members are not going back to work,” Canadian Union of Public Employees national president Mark Hancock said earlier Sunday outside Toronto’s Pearson International Airport. “We are saying no.”

Hancock said the “whole process has been unfair” and said the union will challenge what it called an unconstitutional order.

“Air Canada has really refused to bargain with us and they refused to bargain with us because they knew this government would come in on their white horse and try and save the day,” he said.

The federal government didn’t immediately provide comment on the union refusing to return to work.

The country’s largest airline had said early Sunday in a release that the first flights would resume later in the day but that it will take several days before its operations return to normal. It said some flights will be canceled over the next seven to 10 days until the schedule is stabilized.

Less than 12 hours after workers walked off the job, Federal Jobs Minister Patty Hajdu ordered the 10,000 flight attendants back to work, saying now is not the time to take risks with the economy and noting the unprecedented tariffs the U.S. has imposed on Canada. Hajdu referred the work stoppage to the Canada Industrial Relations Board.

The airline said the Canada Industrial Relations Board has extended the term of the existing collective agreement until a new one is determined by the arbitrator.

The shutdown of Canada’s largest airline early Saturday was impacting about 130,000 people a day. Air Canada operates around 700 flights per day.

According to numbers from aviation analytics provider Cirium, Air Canada canceled a total of 494 flights on Sunday morning. That’s in addition to the hundreds of flights it canceled in the previous days.

The bitter contract fight escalated Friday as the union turned down Air Canada’s prior request to enter into government-directed arbitration, which allows a third-party mediator to decide the terms of a new contract.

Flight attendants walked off the job around 1 a.m. EDT on Saturday. Around the same time, Air Canada said it would begin locking flight attendants out of airports.

Last year, the government forced the country’s two major railroads into arbitration with their labor union during a work stoppage. The union for the rail workers is suing, arguing the government is removing a union’s leverage in negotiations.

The Business Council of Canada had urged the government to impose binding arbitration in this case, too. And the Canadian Chamber of Commerce welcomed the intervention.

Hajdu maintained that her Liberal government is not anti-union, saying it is clear the two sides are at an impasse.

Passengers whose flights are impacted will be eligible to request a full refund on the airline’s website or mobile app, according to Air Canada.

The airline said it would also offer alternative travel options through other Canadian and foreign airlines when possible. Still, it warned that it could not guarantee immediate rebooking because flights on other airlines are already full “due to the summer travel peak.”

Air Canada and CUPE have been in contract talks for about eight months, but they have yet to reach a tentative deal. Both sides have said they remain far apart on the issue of pay and the unpaid work flight attendants do when planes aren’t in the air.

The airline’s latest offer included a 38% increase in total compensation, including benefits and pensions, over four years, that it said “would have made our flight attendants the best compensated in Canada.”

But the union pushed back, saying the proposed 8% raise in the first year didn’t go far enough because of inflation.

Martin Dell, the general manager at the Four Seasons Resort Mauritius at Anahita, said: “We’ve seen a big shift in the way people travel. By enhancing their in-room setup, guests are getting the best of both worlds. We’ve had requests for second screens, printers, coffee break service and tech support.

“Being a few hours ahead of the UK means people can get a head start on the day and leave plenty of time for a swim in the pool before sunset cocktails.”

Research by Totaljobs, the recruitment platform, found that the number of people working from anywhere had increased by 56 per cent over the past two years — from 8.5 per cent in 2023 to 13.25 per cent this year. It means more than seven million people are expected to work from abroad this year.

It found that the most common length of time people spent working from abroad was one or two weeks, although some companies have far more lenient policies.

Nathaniel Okenwa is a developer evangelist manager at Twilio, a cloud communications platform, which has an “open work policy”, allowing staff to work remotely for up to 90 days a year, although each trip must not exceed 28 days.

Okenwa, 31, has used the freedom to log on from the United States, Brazil, Poland, Egypt, Spain, Portugal, Singapore and Italy. He said “having the flexibility of working from different locations is really important to me, especially because I am doing the same work and producing the same output”.

He is one of many remote workers with a proper set-up that he can take around the world. “I’ve invested in having an optimised work set-up,” he said. “I have my own mechanical keyboard and mouse as well as an extra, portable screen that I carry around. When I’m away I’ll also have my tablet open. When I am set up, even in a hotel room, I look like I’m in the home office.”

Okenwa said it varied from department to department whether employees were required to stay within a certain time difference from the UK or have flexibility.

• Five years of the WFH experiment: is it working?

Connective3, a marketing agency, allows its staff to work from anywhere for up to six months a year, although they must keep to UK hours. They can be away for up to two months at a time with only a two-week gap between trips.

The policy allowed Jess Farnham to work from Bali for a month, where she can spend most of the day exploring before logging on at 4pm and working until midnight.

“Every day felt like a weekend, which was just amazing,” she said. “I stayed in four different places during the month I was there and spent time visiting temples, snorkelling and chilling on the beach. I also visited a monkey forest, went on a bike tour and tried jewellery making.”

At the moment Farnham is very much in need of an alarm clock, setting it for 3am each day. Farnham, 24, is working from New York where her crack-of-dawn starts are rewarded with afternoons to relax and see the city.

She said: “It’s tough getting up when it’s still dark, but then I’m done with work about 11.30am or 12pm and then I’ve got the whole afternoon. The other day I visited Brooklyn and had dinner. I’ve also been to matinee Broadway shows and to workout classes. You really get the feel of living somewhere when you spend more time there than you would on a holiday.”

Four Seasons said properties in Marrakesh, Dubai, London and Saudi Arabia had all reported guests requesting in-room office set-ups. Shadi Suleman, the general manager at the Four Seasons in Riyadh, said: “Our guests are increasingly combining work with leisure, often extending their stays to do so. The request for in-room PC screens highlights their need for better workspace solutions while travelling.”

Specialist companies that cater exclusively for remote workers have also emerged. Unsettled is a “global community offering immersive adventures, retreats for remote workers and more for professionals seeking growth, meaning and adventure”. It is running trips to Bali, Tahiti and Bilbao, Spain.

A growing number of tour operators are also designing trips that take in hotels with co-working spaces and itineraries that can be flexible around work calls and meetings.

For those who have the flexibility, there is no desire to go back to regular office-based work. Okenwa said: “I know there are some big, famous companies with very strict return to office policies. They would have to pay me through the roof to sign up for that because having the flexibility of working from different locations is really important to me, especially as I am doing the same work and producing the same output.”

In light of the United States’ precarious fiscal situation, Ray Dalio, the founder of Bridgewater Associates, has advised investors to consider dedicating approximately 15% of their portfolio to either gold or Bitcoin.

What Happened: In a recent interview, Dalio expressed his apprehension about a looming US debt crisis. He pointed out that the US dollar is being undermined due to excessive borrowing and deficit spending, leading to currency debasement.

“If you were neutral on everything and optimizing your portfolio for the best return-to-risk ratio, you would have about 15% of your money in gold or Bitcoin,” Dalio stated.

Dalio also emphasized the need for effective diversification in a portfolio, recommending allocating about 15% as a protective hedge.

During the discussion, he clarified that although he has a preference for gold over Bitcoin, the real economic issue is the devaluation of fiat money, which is currently affecting markets and investors.

Also Read: Ray Dalio Shares Crucial Investment Advice for Those Who Want to Invest Well

While some financial experts advocate for a higher allocation towards crypto, Dalio’s balanced approach aligns with his brand.

Dalio’s recommendation comes at a time when the US is grappling with a burgeoning debt crisis. The rapid borrowing and deficit spending by the government are causing a devaluation of the US dollar, which is impacting markets and investors.

By suggesting a 15% portfolio allocation to gold or bitcoin, Dalio is offering a potential solution for investors to safeguard their investments against the devaluation of fiat money.

While some experts suggest a higher allocation to crypto, Dalio’s measured approach provides a balanced perspective.

It offers investors a solid foundation to profit in unexpected circumstances, thereby mitigating the risks associated with the current economic situation.

Read Next

Ray Dalio’s Timeless Stock Market Advice: ‘Don’t Try to Time the Market Yourself Because You’ll Probably Lose’

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In 2021, Anuvu’s predecessor Global Eagle emerged from Chapter 11 restructuring after selling substantially all its assets to a group comprising the firm’s first-lien investors, including but not limited to certain funds managed by affiliates of Apollo Global Management, Inc., Eaton Vance Management, Mudrick Capital Management, and Crestline Investors, Inc. Two months later, Global Eagle rebranded as Anuvu.

Now privately-held Anuvu confirms it intends to sell 100% of the company to Beverly Hills, California-based Platinum Equity, which manages roughly $50 billion of diversified assets.

Financial terms have not been disclosed, but the transaction will include Anuvu’s inflight connectivity (IFC) and Media units, and allows the company to pay off debt, deploy free cash flow in new investments, and continue to scale its network infrastructure, CEO Josh Marks tells Runway Girl Network.

Anuvu provides both IFC and inflight entertainment (IFE) content service provisioning to airlines, and counts a raft of operators as customers, including notably Southwest Airlines for IFC. It has asked the US Federal Communications Commission (FCC) for permission to transfer non-common carrier earth station licenses to a newly registered company owned by Platinum Equity.

Anuvu’s arrangement with Platinum Equity is structured for tax efficiency and corporate simplification. Pre-closing, Anuvu expects to realign its current operations into two subsidiary entities, each managing one of its two primary lines of business IFC and Media technology.

“By adjusting our IFC and Media corporate structure as part of an ownership change, we simplify back-office and customer complexity while also driving tax efficiency,” explains Marks.

“We plan to transfer our FCC licenses to the IFC subsidiary. The contemplated corporate changes will occur after receiving regulatory approvals and before closing, and will not impact our current operations or customers.”

He confirms that:

Anuvu will continue to operate both IFC and Media.

Founded in 1995, Platinum Equity describes itself as “a global investment firm with ~$50 billion of assets under management, teams and investors around the world, and a diverse, global portfolio of operating companies in a wide range of industries. Our current portfolio of approximately 60 companies operates in a diverse range of industries, generates $100+ billion of aggregate revenue and employs approximately 200,000 people across the globe.”

Platinum Equity’s prior investments in telecommunications carriers include Covad, Securus, DSLnet and Matrix Telecom.

“Platinum Equity Advisors are experienced investors in aerospace, telecommunications and media-related services. Platinum’s platform investment in Anuvu allows us to pay off debt, deploy free cash flow in new investments, and continue to scale our network infrastructure, distinctive content and digital capabilities,” says Marks.

“This transaction is the next milestone in our successful transformation post-COVID, reflecting our significant free cash flow generation, customer growth, and successful deployment of new technologies, including our Anuvu Constellation MicroGEO satellites. NuView Alpha and Bravo entered commercial service this month and are actively deployed on our North American network with excellent performance.”

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Featured image credited to istock.com/Patamaporn Umnahanant

A record number of electric cars were registered in western Europe between April and June, as more affordable battery-powered cars came to market, according to new research.

Nearly 600,000 battery electric vehicles (BEV) hit the roads in the last quarter in a boost to sales that had been rising more slowly than previously forecast in the last year.

The record rollout, which is likely to be topped in the current quarter, has come as more affordable BEVs enter the market and sales in southern Europe have accelerated, according to Matthias Schmidt, a Berlin-based automotive analyst.

“Electric vehicles are becoming more affordable and more attractive to private consumers for the first time. Previously, it was just corporate consumers, company car drivers,” Schmidt said.

While electric cars are much cheaper to own than their petrol equivalents, they often come with a higher purchase price. However, the arrival of smaller and cheaper models is seen as an important step in persuading lower-income buyers to make the switch from fossil fuel vehicles.

European carmakers, such as Citroën-owner Stellantis and Renault, have started to introduce more affordable models to attract price-sensitive potential buyers and bring down the average emissions of their vehicle fleets in line with EU regulations.

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The continued rollout of the charging network across Europe is also helping to remove some potential owners’ range anxiety: the name given to drivers’ worries about being able to find a charge point during their journey.

As a result, quarterly sales across western Europe are predicted to exceed 600,000 for the first time between July and September, partly thanks to the September release of a new number plate in the UK, traditionally boosting sales.

Sales of Chinese-made EVs are also rising across Europe, particularly those produced by BYD, which is vying with Elon Musk’s Tesla to become the world’s biggest electric carmaker and is focusing on sales in the UK, Spain and Italy.

A quarter of BYD vehicles shipped to Europe end up on British roads, Schmidt said. The EU introduced tariffs of up to 35% on Chinese-made EVs in late 2024, after a year-long anti-subsidy investigation, a move that has not been followed by the UK. Currently one in 10 electric vehicles currently on European roads are Chinese-made.

In the final months of the year, the revival of a social leasing scheme in France combined with the re-introduction of a UK government electric vehicle subsidy scheme – which will cut the price of some electric cars by up to £3,750 – is also expected to increase sales.

However, in the UK, a discount of up to 10% will only be available for the “greenest” cars and those priced at less than £37,000, meaning neither Teslas – which start at about £40,000 – nor Chinese-made cars from makers such as BYD will be eligible.

The National Savings Centre in Faisalabad has announced the winners of the Rs1,500 prize bond draw for August 2025.

As per the State Bank of Pakistan’s (SBP) policy, the first prize is worth Rs3 million, while three second prizes of Rs1 million each have been awarded.

Rs1,500 Prize Bond Top Winners August 2025

First Prize: Rs3 million – Ticket number: 790468

Second Prizes: Rs1 million each – Ticket numbers: 031085, 193673, 607650