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 […]
Robotaxi startup Pony.ai gains taxi license
Self-driving tech company Pony.ai, backed by Toyota Motor Corp, said that it has obtained a taxi license in China. This will allow some of its driverless vehicles to start charging fares. The company said that it was the first autonomous driving company in the country to do so. The startup said that it was awarded […]
Google to set up first Africa product development centre
Alphabet Inc’s Google is investing in its first ever Africa product development centre in the Kenyan capital Nairobi. This is because it positions itself to serve a growing base of internet users on the continent. By the end of this decade, the continent will host 800 million internet users, the California-based firm said. A third of […]
China, US working hard on solution to audit dispute
Chinese regulators and their U.S. counterparts are working hard to solve an audit dispute affecting U.S.-listed Chinese firms. They want to achieve effective and sustainable cooperation as soon as possible. The official China Securities Journal reported that the China Securities Regulatory Commission (CSRC) heard opinions from some U.S.-listed Chinese companies during an online meeting. They […]
Microsoft data centres to heat Finnish homes
Finnish utility Fortum said that it will use waste heat from two new Microsoft data centres to warm homes and businesses in and around the capital Helsinki. Meanwhile, they are also cutting carbon emissions. Microsoft simultaneously announced plans for the construction of the data centres. This will be powered by renewable energy, with their location chosen to […]
China’s ZTE headed to court
Lawyers for ZTE Corp have been summoned to U.S. federal court in Texas. This is for a hearing over whether the Chinese telecommunications equipment maker violated probation in connection with an alleged conspiracy to commit visa fraud. ZTE is on probation in the United States after pleading guilty in Dallas in 2017 to illegally shipping U.S. […]
Serena Williams backed – venture capital firm raises $ 111 million funding
Tennis superstar Serena Williams-owned Serena Ventures. This is an early-stage venture capital entity. And it has raised a debut asset of $111 million. In a tweet, she said, that they are thrilled to be announcing their inaugural fund. With an angel portfolio with 13 unicorns and 6 exits, launching a fund was the logical next […]