Following the collapse of the FTX exchange, which lowered valuations and dampened investor interest, Goldman Sachs plans to spend tens of millions of dollars to buy or invest in crypto companies. The implosion of FTX has increased the demand for more trustworthy, regulated cryptocurrency players, and big banks see an opportunity to pick up business,…
Elon Musk’s Twitter is relying heavily on automation to moderate content, eliminating certain manual reviews and preferring distribution restrictions over outright censorship, according to the company’s new head of trust and safety, who spoke to Reuters. Twitter is also restricting abuse-prone hashtags and search results in areas such as child exploitation, regardless of the potential…
Hydrogen as fuel seems to be the latest bet for the future of fuel for British Petroleum (BP) CEO Bernard Looney as he expects hydrogen to be the low-carbon businesses for the future for the company. The move is seen to be synchronized with moves of major economies investing in the development of the decarbonizing…
Assa Abloy AB has announced that it will sell its Yale and Emtek lock brands, as well as its residential businesses in the United States and Canada, to Fortune Brands Home & Security in an all-cash $800 million transaction as it seeks to overcome antitrust opposition in the United States to its acquisition of a…
Adidas is down to three of its seven sponsored teams in the World Cup, but the German sportswear company is sticking to its sales forecast for the tournament, according to a spokesperson on Friday following Germany’s shock exit. According to the spokesperson, the company still expects World Cup sales of around 400 million euros ($421…
After missing earlier deadlines, Elon Musk has announced that a wireless brain chip developed by his company Neuralink will begin human clinical trials in six months. The company is working on brain chip interfaces that it claims will allow disabled patients to move and communicate again, with Musk adding on Wednesday that it will also…
Twitter Inc has reversed a policy aimed at combating COVID-19 misinformation on the social media platform, increasing the risk of a surge in false claims even as cases rise in China and other parts of the world. The move also comes amid concerns about Twitter’s ability to combat misinformation after the company laid off roughly…
Genesis, a cryptocurrency brokerage in the United States, said it was attempting to avoid bankruptcy after Bloomberg reported on Tuesday that the firm’s creditors were organizing with restructuring lawyers to avoid insolvency. According to the report, creditor groups are consulting with law firms Proskauer Rose and Kirkland & Ellis in order to avoid a situation…
Within the last few weeks, tens of thousands of employees had left the world’s largest iPhone factory in Zhengzhou, central China, and violent protests had flared up over a COVID-19 lockdown and uncertainty over hiring bonuses. According to reports, the Foxconn factory in Zhengzhou is Apple’s largest iPhone manufacturer, producing approximately 70% of iPhones globally. A Foxconn source told…
Rolls-Royce has announced that it has run an aircraft engine on hydrogen, a world first for the aviation industry, which is considering using the fuel to decarbonize air travel. In a joint project with the airline easyJet, the FTSE 100 engineering firm said the ground test was a “major step towards proving that hydrogen could…
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