According to two sources with direct knowledge of the negotiations, Zurich Insurance Group is in talks to acquire up to 51% of India’s Kotak General Insurance. If the talks proceed, it will be the company’s first significant investment in the rapidly expanding South Asian insurance industry. The Indian startup, backed by Asia’s richest banker Uday…
Alphabet’s Google announced the debut of two new capabilities for advertisers on Wednesday that will use artificial intelligence to locate the most effective ad placements for businesses across all of the tech giant’s services. Since Google and other businesses created innovative chatbots that can engage people in open-ended discussions, AI has taken over the digital…
Bunge, a U.S. grains trader, and Viterra, a Glencore-backed company, announced their merger on Tuesday. The combined company will be in the agricultural trading business and will be worth roughly $34 billion, including debt. With Bunge and Viterra valued at roughly $17 billion apiece, the merger puts the combined business on par with its two…
With used-car reseller Carvana Co forecasting second-quarter adjusted earnings above Wall Street estimates as a result of cost-cutting initiatives, shares of the firm closed up 56.0% on Thursday, with some assistance from traders covering their bearish bets. Carvana shares reached a more than eight-month high during the session, rising as much as 68% to $26.09.…
Ad buyers told Reuters that Alphabet’s Google and Microsoft are injecting advertising into AI tests without giving users the chance to opt out of participation, a move that has already infuriated several brands and runs the danger of drawing further criticism from the industry. The two digital behemoths are competing to upgrade their search engines…
ByteDance, the company that owns TikTok, has been charged with enabling members of the Chinese Communist Party (CCP) access to the information of Hong Kong human rights activists and demonstrators. Former ByteDance executive Yintao Yu claims in a US court filing that users who submitted “protest-related content” were also recognised and monitored. According to Yu,…
Due to debts owed by their parent firm, The Daily and Sunday Telegraph newspapers, as well as The Spectator magazine, will soon be placed up for sale. The Barclay family, who formerly owned the company, have been replaced by receivers Alix Partners. The receiver stated that it does not anticipate the modifications to have an…
The latest setback for the widebody plane, Boeing warned on Tuesday that it would have to slow down the delivery of the 787 Dreamliner after finding a new production defect that will cause it to inspect all 90 of the aircraft in its stock. Although the recently discovered production snag does not endanger flight safety,…
Inditex, the company that owns Zara, reported on Wednesday that sales of the spring/summer collection accelerated to increase 16% in May as the retailer offsets increasing labour expenses and retains customers amid a crisis in the cost of living. The largest fast-fashion retailer in the world announced a better-than-anticipated 54% increase in net profit of…
Sergio Ermotti, chief executive officer of UBS, cautioned on Friday of difficult decisions regarding layoffs following the acquisition of Credit Suisse, which he said he hoped would be finalised in the coming days. “We won’t be able to create, short term, job opportunities for everybody. Synergies is part of the story,” Ermotti said at an…
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