Telefonica turns to Israel’s high-tech
Spain’s Telefonica, Europe’s third-largest telecoms company, aims to increase investments in Israel’s high-tech sector. This includes in e-health and other consumer-facing business. Luisa Rubio, who heads Telefonica’s innovation arm WayraX, has already made one investment in Israel – Upword, which uses artificial intelligence (AI) to create faster, more efficient summaries from notes. She said WayraX, […]
Tesla loses $ 126 BLN in value amid Musk Twitter deal funding concern
Tesla Inc lost $126 billion in value amid investor concerns that Chief Executive Elon Musk may have to sell shares to fund his $21 billion equity contribution to his $44 billion buyout of Twitter Inc. Tesla is not involved in the Twitter deal, yet its shares have been targeted by speculators after Musk declined to disclose […]
Warner Bros Discovery adds 2 MLN subscribers
Warner Bros Discovery said that it added about 2 million paid streaming subscribers in the first quarter. This is at a time when industry pioneer Netflix lost subscribers for the first time in more than a decade. In the first set of results from the media giant forged by a $43 billion merger between Discovery Inc and […]
GE shares slump as worsening supply chain
General Electric Co said that fresh pandemic-related lockdowns in China as well as the war in Ukraine have exacerbated supply chain disruptions and inflationary pressure, putting its full-year profit outlook at risk and prompting a sell-off in its shares. While the Boston-based industrial conglomerate retained the outlook issued. It said that the current trends suggest […]
Goldman, JPMorgan among banks left holding Russian stocks
A decision by FTSE Russell and MSCI to remove Russian stocks from their indexes has left some of the world’s largest banks inadvertently holding potentially valuable positions. JPMorgan Chase, Goldman Sachs, HSBC, BNP Paribas and other global banks have had to move Russian stocks and related derivative positions that they had taken to support bets […]