Europe’s Airbus, Thales, Leonardo Near Satellite Merger to Rival Starlink

/in /tarafından

Europe’s leading aerospace groups Airbus, Thales, and Leonardo are finalizing a long-awaited merger of their satellite manufacturing operations, aimed at creating a continental space champion capable of competing with Elon Musk’s Starlink, people familiar with the talks told Reuters.

While the official announcement, initially expected Wednesday, was delayed by legal and financial fine-tuning, insiders said the deal remains on track, with only minor details causing the hold-up. “The announcement is ready,” said one source. “It’s industrially, technically, and financially complicated, but the framework is intact.”

Under the plan — known internally as “Projet Bromo” — the three companies will combine their satellite assets into a joint holding company, each owning roughly one-third after balancing payments. The new entity will require up to two years to finalize, pending regulatory approval, and could face scrutiny from EU competition authorities that previously blocked similar ventures.

The merger would make the group the largest global manufacturer of geostationary satellites, overtaking Maxar, Northrop Grumman, and Lockheed Martin, according to data from Quilty Space. However, analysts note that the geostationary satellite market has been shrinking due to the rise of low-Earth orbit constellations, led by SpaceX’s Starlink and Amazon’s Project Kuiper.

“Europe had a commanding lead in geostationary satellite manufacturing,” said Caleb Henry, research director at Quilty Space. “But this market has shrunk considerably in the face of these new titans of industry.”

The merger is seen as a strategic lifeline for Europe’s fragmented satellite industry, which has struggled to stay competitive amid rapid shifts in global space technology and soaring demand for low-orbit broadband systems.

Although corporate governance details — such as who will chair or lead the merged group — remain unsettled, sources said all three companies are committed to cooperation, driven by falling market share and rising losses in their satellite divisions.

If completed, the merger would mark the most significant consolidation in Europe’s aerospace industry in decades, signaling a coordinated effort to reclaim technological leadership in the new era of commercial space.

T. Rowe Price Enters Crypto Market with First Multi-Coin ETF Filing

/in /tarafından

T. Rowe Price has filed with the U.S. Securities and Exchange Commission (SEC) to launch its first cryptocurrency exchange-traded fund (ETF), marking the $1.77 trillion asset manager’s long-awaited entry into digital assets.

The actively managed ETF would offer exposure to five to fifteen cryptocurrencies, including bitcoin, ether, solana, dogecoin, and Shiba Inu, according to the filing. Portfolio managers would aim to outperform the FTSE Crypto US Listed Index, using a mix of fundamental, valuation, and momentum-based analysis to decide which assets to hold and how to weight them.

“This is a surprise move for such a late entrant,” said Bryan Armour, ETF analyst at Morningstar. “But T. Rowe Price appears to be targeting something differentiated to stand out in a crowded space.”

While dozens of asset managers have raced to launch single-coin ETFs, multi-asset crypto funds remain rare due to regulatory complexity and the volatility of altcoins. If approved, the T. Rowe Price fund would be among the first diversified crypto ETFs in the U.S.

The filing underscores T. Rowe’s efforts to diversify beyond traditional mutual funds, which have suffered persistent outflows. The firm has introduced 24 ETFs in recent years and recently partnered with Goldman Sachs to develop new private market products for retail investors. As part of the deal, Goldman plans to buy up to 3.5% of T. Rowe’s shares, an investment that could exceed $1 billion.

T. Rowe has been quietly building its digital asset expertise, hiring Blue Macellari, a former crypto hedge fund executive, as head of digital assets strategy in 2022.

ETF industry experts said the launch reflects a broader institutional shift. “It’s exciting to see T. Rowe expand beyond equities and bonds,” said Todd Rosenbluth of VettaFi.

However, the timing remains uncertain. The SEC faces a government shutdown that has slowed approvals, despite new listing standards paving the way for multi-coin ETFs.

If approved, the T. Rowe Price crypto ETF could signal a new era of mainstream digital asset investing from one of America’s most established financial firms.

UK Targets Apple and Google’s Smartphone Dominance with New Competition Powers

/in /tarafından

Britain’s competition regulator has designated Apple and Google as firms with “strategic market status” (SMS), giving it new powers to demand changes to how the two tech giants operate their smartphone ecosystems.

The Competition and Markets Authority (CMA) said on Wednesday that the move would allow it to introduce targeted interventions to promote innovation and competition in the mobile market, where the dominance of Apple’s iOS and Google’s Android platforms gives them vast control over app stores, browsers, and digital services.

The CMA said the designations were not findings of wrongdoing but would enable oversight of both firms’ practices, such as app store restrictions and payment rules that may limit competition.

The decision aligns Britain with other major economies — including the United States, European Union, and Japan — that have been tightening regulation on the two companies’ market power.

Apple warned that copying the EU’s interventionist approach could “undermine privacy and security” for users, while Google described the decision as “disappointing and unwarranted”, urging the regulator to ensure its actions remain “pro-growth and pro-innovation.”

Nearly all smartphones in the UK run on either Apple or Google systems, with both firms controlling access to their platforms through app store policies and in-house browsers.

Tom Smith, a former CMA director, said the new powers could lead to fairer conditions for app developers — including the right to inform users of cheaper deals outside official app stores, similar to measures adopted in the U.S.

However, industry trade body CCIA cautioned that the “opaque” SMS process might deter tech investment, urging regulators to balance oversight with economic growth.

The CMA emphasized that any future interventions would be “proportionate and targeted” to ensure competition flourishes without stifling innovation in the UK’s tech sector.