UBS Group AG expects a $17 billion financial impact from its buyout of Credit Suisse Group AG, the bank said in an early Wednesday presentation as it prepared to finalise the rescue of its troubled Swiss rival. UBS predicts that fair value adjustments to the combined group’s assets and liabilities will have a negative impact…
“Memecoins,” a hyper-speculative, ultra-volatile, and somewhat strange class of cryptocurrency, are back in the spotlight after the latest digital token skyrocketed in value. According to data tracker CoinGecko, Pepe, a coin inspired by an anthropomorphized frog popular in online memes, jumped about 7,000% in the 17 days following its April 16 introduction, reaching a market…
The firm that owns Vice and Motherboard has declared bankruptcy in the United States and is poised to be sold to a group of its lenders. Vice Media Group, which was valued at $5.7 billion in 2017, could be acquired for $225 million. The youth-focused digital publisher has stated that it will continue to function…
JioCinema, the streaming platform owned by Indian billionaire Mukesh Ambani, announced premium pricing of 999 Indian rupees ($12) a year, its first step away from a free content model in order to compete with global rivals such as Netflix and Disney in the country. The decision comes just weeks after Reliance’s Viacom18 secured a content…
Elon Musk has appointed Linda Yaccarino, former NBCUniversal advertising executive, as Twitter’s new CEO, as the firm attempts to reverse a decline in ad income. Yaccarino will take over a troubled social media site saddled with debt after spending several years modernising the advertising business at NBCUniversal, which is controlled by Comcast Corp. “I am…
Oppo, a Chinese smartphone manufacturer, announced the closure of its chip design team, citing concerns in the global economy and the smartphone business. The business, which is one of China’s best-selling domestic smartphone brands, announced the closure of its Zeku unit, which it established in 2019. Its products include the MariSilicon X chip, a neural…
On Thursday, US regulators levied civil penalties on divisions of Bank of Nova Scotia and HSBC Holdings Plc for significant recordkeeping breaches caused by employees’ utilisation of personal devices and applications for business interactions. The banks acknowledged to failing to comply with recordkeeping requirements for dealers registered with US market authorities. HSBC Securities Inc agreed…
Google revealed a slew of artificial intelligence technologies, but customers may require AI merely to comprehend them all. On Wednesday, the Alphabet Inc business displayed or mentioned at least 15 different AI products and capabilities, ranging from software only for producing smartphone wallpaper to another for organising personal data to another for photo editing. Google’s…
Panasonic announced on Wednesday that it would commence operations between the April to September timeframe in 2024, later than originally planned, and delay the commercial manufacturing of its 4680 battery cells, championed by Tesla CEO Elon Musk. Panasonic, a Japanese supplier to Tesla, had previously anticipated beginning mass manufacturing for Tesla between April 2023 and…
You may soon notice a common denominator in the financial report you read, the clothes promotion you observe, and the chat assistant you use: Google’s artificial intelligence. In order to test its newest technology, so-called generative AI, which creates human-like prose or other content from historical data, Alphabet Inc.’s cloud business is gathering clients. According…
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