dsm-firmenich announces redemption of €750 million hybrid bond

DSM-Firmenich said it will cut up to 1,000 jobs over 18 to 24 months after selling its Animal Nutrition & Health division to CVC Capital Partners for about €2.2 billion, plus up to €500 million earnout. The company expects €100 million annualized cost savings and a one-off €100 million charge. H1 2026 core units grew, while ANH sales fell and margins dropped.

BNY Mellon Strategic Municipal Bond Fund (NYSE: DSM) reported short interest of 115,543 shares as of May 15, up 148.2% from 46,560 on April 30. With average daily volume of 79,442, the short-interest ratio is 1.5 days; 0.2% of shares are sold short. DSM shares fell 0.5% to $6.12. The fund also declared a $0.03 monthly dividend (record June 11, pay June 30).

The article explains the U.S.-made Patriot mobile air defense system and why interceptor missile supplies are down. It cites Raytheon and Lockheed for system details and notes CSIS estimates about 65% of U.S. interceptors were expended Feb to July, leaving under 850. It says the U.S. approved 5,250 interceptors for Gulf states and awarded Lockheed a contract up to $58.6B.

Eaton (NYSE:ETN) said the U.S. Air Force Research Laboratory awarded it a $7 million, 24-month contract to use quantum computing, machine learning, and advanced visualization to improve power grid resilience and protection. The work, with Infleqtion and Penn State, targets detection and response to multiple concurrent physical and cyber threats, addressing NERC N-2 contingency requirements.

ExxonMobil Moçambique Limitada issued McDermott Energy Solutions (UK) a letter of intent for limited engineering and procurement work on Rovuma LNG Phase 1 midstream development. The award supports planning ahead of a final investment decision expected in 2026. Rovuma LNG targets 12 modular trains totaling 18.6 mtpa, with start-up in 2031. ExxonMobil says the 30-year project could generate about $150B in revenues for Mozambique’s government.

Serbia President Aleksandar Vucic said Serbia will open a joint UAV factory with Elbit Systems, with inauguration expected Sept 15-20. Elbit will hold 51% and Serbia’s state arms firm SDPR 49%. The factory relates to a five-year contract covering precision rockets and unmanned systems, plus ISTAR, digitization and upgrades.