Tag Archives: Business News

The Volkswagen ID7 is not only appealing as a high-performance electric vehicle, but it is also one that is built to be largely affordable, compared to current market alternatives. German multinational vehicle maker, Volkswagen Group (ETR: VOW3) has introduced its latest car, the ID.7, billed as the first all-electric Volkswagen for the upper mid-size class. According to the description of the vehicle by the company, the ID7 is branded as the very first Volkswagen product that comes with a...

The surge followed shortly after reports surfaced that THG has now received a buyout proposal from private equity firm Apollo. Shares of THG Plc (LON: THG), formerly known as “The Hut Group,” have seen an unprecedented rise in the last 24 hours, surging by at least 47%, per a Bloomberg report. As of publication, however, THG stock price has slightly re-traced its steps but is still up 36% on the day and is trading at 90 GBX. The development will be a much-welcome one among investors who...

Stock futures in the US climbed as investors brace for a crucial week of quarterly earnings from several large companies across sectors. Wall Street stock futures moved higher amid anticipation of more big bank earnings this week. On Sunday, stock futures tied to the S&P 500 climbed 0.16%, or 6.5 points, with the Nasdaq 100 futures increasing by 0.06%. In addition, futures tied to the Dow Jones Industrial Average (DJIA) also advanced 0.13% or 43 points. The banking sector got off to...

While the key initiatives bordering on the plans of Sega Sammy for the Angry Birds maker are yet to be fully revealed, it can be deduced that the game will be incorporated into the consoles of the company. Japanese gaming giant Sega Sammy Holdings Inc (TYO: 6460) has announced it has made a generous offer to acquire Rovio Entertainment Oyj (HEL: ROVIO), the developer of the much acclaimed Finnish video gaming giant. As reported by CNBC, the deal is worth approximately $776 million and...

Over the years, Musk has made multiple presentations about Starship, its design, and its aim. He also emphasized the rocket system’s ability to transport humans and cargo to Mars. Elon Musk-owned spacecraft engineering corporation SpaceX is ready for the first launch of its Starship rocket system to space. Starship is the most powerful rocket ever developed, with almost 120m (400ft) height, and designed to have nearly X2 thrust of any rocket ever. The uncrewed demonstration will lift off...

Google and Alphabet CEO Sundar Pichai thinks AI could cause serious harm in different sectors if society does not brace for it.  According to Google (NASDAQ: GOOGL) CEO Sundar Pichai, society needs to brace itself for the far-reaching impact of artificial intelligence (AI). In a recent media session, Pichai opined that AI acceleration might distort everyday life without proper guiding measures. Warning that AI advancement laws are “not for a company to decide” alone, Pichai believes AI...

JPMorgan topped Q1 2023 revenue expectations by more than $3 billion on the back of higher Fed-facilitated interest rates.   JPMorgan Chase (NYSE: JPM) recently posted a Q1 2023 record revenue haul that beat analysts’ expectations. The banking giant’s record first-quarter revenue largely benefitted from net income on higher interest rates which surged 50% year-over-year (YoY). JPMorgan said its Q1 revenue came in at $39.34 billion compared to the $36.19 billion analysts expected....

The Zipmex rescue deal was threatened after the investor backtracked on its earlier promise to repay creditors fully.  Amid plans to rescue embattled crypto exchange Zipmex from insolvency, the investor has reportedly reneged on its promised 100% payment. According to reports, Zipmex’s rescue investor now seeks to pay only 10 to 20 cents on the dollar to the exchange’s creditors. This development proves shocking because the ‘unnamed’ investor initially pledged to repay Zipmex’s debts...

Amazon Bedrock has multiple use cases, including Text Generation and Chatbots. The burgeoning AI space has welcomed an addition as Amazon launches Bedrock to take on Google and OpenAI. With Bedrock, Amazon Web Services (AWS) users will be able to build out generative AI from foundation models (FMs). ChatGPT is an example of a generative AI model that came with full force and got the world’s attention. Just as OpenAI caused a stir, Amazon is ready to cause a quake with Bedrock. Amazon...

According to the advocates, Meta will expose teenagers and young adults to harassment and privacy violations. Social media giant Meta has received a huge backlash following its recent Metaverse announcement. While its metaverse app Horizon Worlds currently serves users of 18 years and above, the platform recently revealed plans to make room for users aged 13 to 17 as well. Advocacy Groups Raise Concerns Dozens of advocacy organizations and children’s safety groups are already kicking...