In light of the excitement surrounding developments in artificial intelligence, SoftBank Group CEO Masayoshi Son announced on Wednesday that his tech investing conglomerate intends to change its posture and go into “offence mode.” The group had taken a defensive position and was reducing investment activities as its investing arm, the Vision Fund, recorded significant investment…
The payments major Mastercard launched a global initiative on Wednesday to recycle credit and debit cards as part of a strategy to keep the billions of cards now in use across the sector out of landfills. Mastercard announced that banks from around the world, some of which have started local projects, will be eligible to…
According to a copy of the case seen by Reuters, former Nissan Chairman Carlos Ghosn has filed a lawsuit against the corporation with Lebanon’s public prosecutor seeking more than $1 billion in damages. Nissan, two other businesses, and 12 named individuals are accused of offences such as defamation, slander, libel, and the falsification of significant…
Lenders must be more cautious when dealing with such companies since shadow banks are expanding swiftly throughout the euro zone and pose a growing risk to the entire financial system, according to supervisor Andrea Enria of the European Central Bank. With assets of 31 trillion euros ($33.9 trillion), or 80% of the supervised bank sector,…
On the first day of the Paris Airshow, Indian low-cost carrier IndiGo placed an order for 500 narrowbody jets with Europe’s Airbus, marking the largest ever purchase of aircraft by a single airline. The multibillion-dollar agreement surpasses Air India’s earlier this year combined acquisition of 470 aircraft as the country’s two biggest airlines prepare for…
Elon Musk, a multibillionaire businessman, announced on Friday in France that his brain-chip startup Neuralink plans to launch its first human trial this year. Co-founder Musk stated during a webcast watched by Reuters that Neuralink intends to implant a patient who is paralysed or tetraplegic. He was speaking at the VivaTech conference in Paris. Musk,…
On Sunday, SVB Financial company announced that it had reached a deal to sell its investment banking unit, SVB Securities, to a company headed by Jeff Leerink and supported by money under the control of The Baupost Group. According to the company, the bidder group led by Leerink, the chief executive of SVB Securities, will…
Elon Musk, the CEO of Tesla, told LVMH scion Antoine Arnault that he believes the automaker’s market capitalization is directly related to whether it can successfully develop autonomous driving. Musk was addressing the VivaTech innovation conference in Paris. The younger Arnault made fun of Musk for Tesla’s $827 billion market worth, pointing out that it…
Because of the robustness of the narrowbody market, which is driven by demand from low-cost carriers, American aircraft manufacturer Boeing modestly increased its 20-year prediction for new airliner deliveries. Boeing estimates that between now and 2042, airlines will need to buy 42,595 aeroplanes, up from the 41,170 aircraft predicted in its previous 20-year forecast released…
As part of a multi-billion dollar investment drive across Europe to increase chip production, Intel announced on Friday that it would invest up to $4.6 billion in a new semiconductor assembly and test plant close to Wroclaw, Poland. In an effort to take advantage of the European Commission’s loosened funding requirements and subsidies as the…
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