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Eutelsat shares fall sharply after confirming OneWeb deal talks

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Eutelsat shares fall sharply after confirming OneWeb deal talks

Satellite tv for pc operator Eutelsat has confirmed it’s in discussions to amass smaller participant OneWeb over an all-share deal that seeks to assist the France and UK-based teams higher compete with US rivals.

Eutelsat’s share value fell by greater than 17 per cent to €8.60 in early buying and selling after the assertion on Monday as traders balked on the prospect of a deal.

If accomplished, the mix would deal with Eutelsat’s want for progress to offset a declining satellite tv for pc video enterprise and OneWeb’s requirement for $2bn-$3bn in funding to finish its community and replace its know-how, in line with individuals near the deal.

“The transaction would signify a logical subsequent step within the profitable partnership between Eutelsat and OneWeb,” mentioned Eutelsat, which purchased a 23 per cent stake in OneWeb in 2021.

The French state owns a 19.9 per cent stake in Eutelsat, whereas the UK owns just below 18 per cent of OneWeb after bringing the corporate out of chapter in 2020. Each are anticipated to maintain important shareholdings.

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Officers mentioned the deal valued the UK authorities’s OneWeb stake at $600mn, a paper revenue of $100mn. A merger will relieve the UK authorities of any accountability for the sizeable funding nonetheless required to finish OneWeb’s marketing strategy.

The deal could be an indication of how European satellite tv for pc gamers, backed by governments who see area communications as a strategic trade, try to maintain up with billionaire entrepreneurs similar to Elon Musk. His firm SpaceX has funded disruptive satellite tv for pc initiatives utilizing completely different know-how often called lower-earth orbit (LEO) satellites relatively than the geostationary orbit ones that Eutelsat has lengthy used. LEO satellites can ship sooner connections.

OneWeb was a pioneer with its personal LEO constellation, however now wants huge funding to maintain up with SpaceX’s newer tech.

Below the phrases being mentioned, the OneWeb and Eutelsat tie-up is being branded as a merger of equals with every set of shareholders ending up with 50 per cent of the mixed firm. OneWeb shareholders would tender their shares to Eutelsat in alternate for Eutelsat shares.

The deal is topic to a shareholder vote at Eutelsat and regulatory approvals.

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Analysts mentioned the Eutelsat share value drop may mirror disappointment that the group could be devoting money to the deal and fewer to shareholder returns.

Deutsche Financial institution analyst Roshan Ranjit wrote in a observe that “trade consolidation stays a key thematic” within the satellite tv for pc sector “given volumes of recent capability being launched (SpaceX’s Starlink, Amazon’s Undertaking Kuiper and Telesat’s LightSpeed), and the decline of legacy broadcast.”

Extra reporting by Arash Massoudi

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Israel kills elite Hizbollah commanders in Beirut strike, IDF says

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Israel kills elite Hizbollah commanders in Beirut strike, IDF says

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Israel said on Friday it had killed senior Hizbollah commanders in an air strike on the militants’ stronghold of southern Beirut, a devastating assault on the group that heightened fears of a full-blown war.

Hizbollah’s special operations commander Ibrahim Aqil was killed along with at least 10 members of the “senior chain of command of the Radwan Force”, an elite unit within the group, the Israel Defense Forces said.

The group confirmed late on Friday that Aqil was killed in the Israeli attack, and described him as one of its “greatest leaders”.

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Aqil’s death is arguably the most damaging blow Israel has struck against Hizbollah, Lebanon’s dominant political and military force, since the movement’s formation in the early 1980s.

The Radwan Force is the arm of Hizbollah responsible for cross-border operations into Israel and defending southern Lebanon against a ground invasion. Israel has been targeting the Radwan for months, with the stated aim of pushing it back from the border.

Undated photo of Ibrahim Aqil who is said to have been the target of Israel’s air strike © US Department of State

Striking Hizbollah’s top commanders on such a scale would also deal a blow to Iran, which considers the Lebanese group its main proxy and closest ally in the region.

The attack comes after Israel said it was entering a “new phase” of its nearly year-long conflict with Hizbollah, which had previously been largely contained to the Israeli-Lebanese border region.

It will increase pressure on Hizbollah to respond robustly, even though it is in disarray after consecutive days of assaults on its military capability and wary of being drawn into full-blown war with a far more sophisticated army.

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Hizbollah has not confirmed that Aqil was in the building at the time of the strike. Lebanese authorities said 14 people were killed and 66 wounded.

Lebanon’s state-run news agency reported that an F-35 warplane launched four missiles into the southern Beirut suburb of Dahiyeh, striking a residential building. Israel’s military said the commanders were killed while conducting a meeting under the building.

The strike capped a week of deadly mass detonations of Hizbollah’s communications devices that killed 37 people and injured thousands more. Hizbollah has blamed the attacks on Israel, which has not directly commented.

The Israeli strike was the second targeting of a senior Hizbollah commander in southern Beirut since the conflict erupted last October. A July strike on a residential building in the capital killed Fuad Shukr, Hizbollah’s top military commander.

Aqil, like Shukr, was one of the group’s earliest founding members and sat on Hizbollah’s Jihad Council, its highest military body, according to four people familiar with Hizbollah’s operations. After Shukr’s killing, Aqil took over some of the slain commander’s responsibilities, said the people.

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The US suspected Aqil of involvement in attacks 41 years ago in Beirut at the US and French barracks, which killed 307 people, and the US embassy, which killed 63.

People inspect the site of an Israeli strike in the southern suburbs of Beirut, Lebanon
The aftermath of an Israeli attack on Lebanon’s capital © Mohamed Azakir/Reuters

Lebanon’s civil defence authorities said rescue efforts on Friday were ongoing, with people still being pulled from the rubble after two residential buildings collapsed.

Television footage circulating showed burnt-out cars and large piles of debris covering a narrow street.

The strike came amid intensifying salvos between Israeli forces and Hizbollah, which have been exchanging cross-border fire since the group started launching rockets at Israel on October 8, the day after Hamas’s attack on the Jewish state.

The UN’s special co-ordinator for Lebanon, Jeanine Hennis-Plasschaert, called the strike “another alarming escalation”. “We are witnessing an extremely dangerous cycle of violence,” she said. “This must stop now.”

Map showing Dahiyeh suburb strike by Israel in Lebanon

On Thursday night, the Israeli military said its jets struck about 100 rocket launchers in Lebanon that were due to fire at Israel “in the immediate future”. It was one of Israel’s heaviest rounds of strikes on Lebanon since the start of the war.

Hizbollah fired more than 140 rockets at Israeli-controlled territory on Friday, according to the Israeli military, sparking fires in several areas. There were no immediate reports of casualties.

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Following the strike on Beirut, Hizbollah said it had launched more rocket salvos targeting what it said were defence installations, including one military intelligence headquarters it said was “responsible for assassinations”.

US National Security Council spokesperson John Kirby said Washington still did not see a wider war as “inevitable”.

“We don’t want to see escalation. We don’t want to see a second front in this war opened up,” Kirby said. “Everything we’re doing is going to be to try to prevent that outcome.”

Lebanese Prime Minister Najib Mikati, who condemned the “criminal” attacks this week, said he had requested an emergency meeting of the UN Security Council. “All the communications I received yesterday from senior international officials confirmed that the Israeli enemy crossed red lines,” he said.

Mikati said he would head to the US for talks on the sidelines of the UN General Assembly “to assert that there is still space available for a diplomatic solution”.

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Additional reporting by Malaika Kanaaneh Tapper in Beirut and Felicia Schwartz in Washington

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No needles required: The FDA approves an at-home flu vaccine

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No needles required: The FDA approves an at-home flu vaccine

A fifth-grader receives the FluMist influenza virus vaccine in Anaheim, Calif., in 2015.

Jeff Gritchen/Digital First Media/Orange County Register via Getty Images


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Jeff Gritchen/Digital First Media/Orange County Register via Getty Images

The Food and Drug Administration has approved the first flu vaccine that people can administer to themselves at home.

The agency on Friday gave the green light for people who have been screened to give themselves the FluMist nasal spray, which can be ordered directly from an online pharmacy, skipping the need to visit a doctor’s office.

It will still require a prescription from a doctor’s office, however. It’s expected to be available next year.

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FluMist itself is not new — the live attenuated influenza vaccine has had FDA approval for more than two decades. But the ability for adults to order the vaccine at home to administer to people ages 2 to 49 is a breakthrough in convenience and access to preventative care.

“Getting vaccinated each year is the best way to prevent influenza, which causes illness in a substantial proportion of the U.S. population every year and may result in serious complications, including hospitalization and death,” said Peter Marks, director of the FDA’s Center for Biologics Evaluation and Research.

“This approval adds another option for vaccination against influenza disease and demonstrates the FDA’s commitment to advancing public health,” Marks added.

In addition to providing the convenience to get the vaccine delivered right to your door, the nasal spray option could encourage more people who have fears of doctors or needles to inoculate themselves against the flu.

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The FluMist nasal spray will be made available through a third-party online pharmacy, where people will complete a screening process to check eligibility. The FDA does recommend that a caregiver administer the spray to children between the ages of 2 and 17.

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Election 2024 Polls: Florida

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Election 2024 Polls: Florida

About our polling averages

Our averages include polls collected by The New York Times and by FiveThirtyEight. The estimates adjust for a variety of factors, including the recency and sample size of a poll, whether a poll represents likely voters, and whether other polls have shifted since a poll was conducted.

We also evaluate whether each pollster: Has a track record of accuracy in recent electionsIs a member of a professional polling organizationConducts probability-based sampling

These elements factor into how much weight each poll gets in the average. And we consider pollsters that meet at least two of the three criteria to be “select pollsters,” so long as they are conducting polls for nonpartisan sponsors. Read more about our methodology.

The Times conducts its own national and state polls in partnership with Siena College. Those polls are included in the averages. Follow Times/Siena polling here.

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Sources: Polling averages by The New York Times. Individual polls collected by FiveThirtyEight and The Times.

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