Breaking news

CarVal Reduces Stake In Bank Of Cyprus To 5.9%

Global investment fund CarVal Investors has further trimmed its shareholding in the Bank of Cyprus, now holding 5.9% of the bank’s shares, as disclosed in a recent announcement on the Cyprus Stock Exchange (CSE).

This marks the second reduction in CarVal’s stake within a few months. In October 2024, the firm decreased its shareholding from 9.1% to 6.1%, reflecting its continued divestment strategy.

On Monday, Bank of Cyprus shares closed at €4.74, a slight decrease of 0.21%, with a trading volume of 35,524 shares.

The move by CarVal signals ongoing shifts in the bank’s ownership structure, potentially influencing its future strategic direction and market dynamics.

Apple Launches Manufacturing Academy In Detroit To Train Next-Generation U.S. Manufacturers

Apple’s Strategic Investment In U.S. Manufacturing

In a bold move to expand its domestic manufacturing capabilities pursuant to growing political and economic pressures, Apple Inc. has inaugurated a state-of-the-art manufacturing initiative in downtown Detroit. The Apple Manufacturing Academy, administered by Michigan State University, is set to equip small and medium-sized businesses with cutting‐edge skills in manufacturing and artificial intelligence.

Advancing U.S. Industrial Capabilities

Under the leadership of newly designated COO Sabih Khan, Apple’s initiative is designed to train the next generation of American manufacturers. The academy will host hands‐on workshops led by Apple engineers, bridging the gap between advanced technology and traditional manufacturing. This move not only underscores Apple’s commitment to domestic investment but also seeks to unlock significant opportunities for U.S. businesses amidst the evolving global economic landscape.

A Balancing Act Amid Political Pressures

The academy’s launch comes at a time when President Donald Trump has been vocal about his expectations for U.S. job creation and domestic production. While Trump has publicly encouraged Apple to relocate iPhone assembly to the United States—a strategy that experts argue would be both costly and time-intensive—the tech giant has made substantial investments in American operations. Previously, Apple pledged to invest over $500 billion in U.S. projects, including assembling AI servers in Houston and sourcing chips from TSMC’s Arizona facility.

Strengthening Industry Partnerships

The Detroit program builds on Apple’s successful model of global developer academies, a testament to its strategy of forging robust relationships with local governments and fostering innovation. The sole U.S. developer academy, also positioned in Detroit in partnership with Michigan State University, has already demonstrated promising outcomes with an annual intake of approximately 200 students.

A Forward-Looking Vision

By introducing the Apple Manufacturing Academy, Apple extends its influence beyond hardware production to actively nurture the U.S. manufacturing ecosystem. In addition to in-person training, the program will soon offer virtual courses and consulting services, ensuring that a wide range of enterprises can benefit from smart manufacturing practices. This initiative not only reflects Apple’s global stature as a technology leader but also reinforces its strategic alignment with national economic priorities.

The Future Forbes Realty Global Properties
SWC Finals V
Uri Levine Course vertical

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter