Newsroom
Flipkart Enters Quick-Commerce Market In India
Quick-commerce, an e-commerce concept whereby orders are delivered to buyers within 10 – 15 minutes after buyer makes a purchase. The company achieves this by placing small warehouses in several strategic locations, ensuring that orders can be delivered within a few minutes.
Flipkart, Indi...
Defense Startup, Anduril, Raises $1.5 Billion
Anduril, the 7-year-old defense startup has reportedly raised $1.5 billion, at a valuation of $14 billion. This is a huge jump from the company’s last valuation of $8.5 billion in 2022. Anduril aims to compete against established, legacy, defense contractors such as Lockheed Martin, Northrop G...
Warren Buffett Cuts His Apple Holdings In Half
Berkshire Hathaway, Warren Buffet’s investment company has reduced its almost $170 billion investment in Apple down to half. Apple recently announced third quarter earnings. iPhone sales declined while iPad sales saw an increase. Apple CEO said the company has been reorganizing its resources t...
Threads Reaches 200 Million Users
Just barely 13 months after its launch, Meta’s Threads now has 200 million active users. “I’m excited to share that we crossed the 200M milestone on @threads”, Adam Mosseri, head of Instagram said. He went on to say that: “My hope is that Threads can inspire ideas that ...
Meta To Pay $1.4 Billion Fine To The State of Texas Over Facial Recognition Privacy Software
For over 10 years, Facebook utilized a tool called “Tag Suggestions”, which made it possible for users to tag photos with names. The feature uses facial recognition software to collect biometrics on users. It essentially runs facial recognition on every photo ever uploaded on Facebook, a...
Intel Lays Off 17,000 Employees
Chip maker Intel has reported it is letting go about 15% of its workforce, which translates to about 17,000 jobs. Intel reports this is part of a wide-scale cost cutting measure company wide. Intel’s CEO Pat Gelsinger said: “This is an incredibly hard day for Intel as we are making some ...
Honda To Close 3 Factories
The automotive giant, Honda, is going through a rough patch currently and has decided to close down three of its factories due to poor sales performance. The closures include plants in Japan and in China. Honda sold 5.3 million vehicles in 2018. This year, it sold 3.3 million vehicles. This sales de...
Elon Musk Is No Longer Supporting Trump With $45 Million A Month
During a recent interview on X with Jordan Peterson, Elon Musk said he is not giving Trump $45 million a month. Peterson asked Musk during the interview if he was shocked to be donating $45 million a month to Trump’s campaign. Musk responded by stating that what the media is reporting is not t...
Elon Musk Moving SpaceX and Tesla Headquarters To Texas
Elon Musk recently announced he is moving both of his companies, SpaceX and Tesla from California to Texas, citing pro LGBT laws in California that he said do not favor companies or families.
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Saudi Aramco Makes 7 New Hydrocarbon Discoveries
My cup floweth over. Saudi Aramco, the largest oil producer in the world, is reported to have made seven new oil & gas discoveries, all within the Saudi Kingdom, specifically in its Eastern Province and Empty Quarter. The seven discoveries include: two gas reservoirs, two gas fields, two s...
The Richest Man In Mexico Makes $1.2 Billion Oil Investment
Carlos Slim, the richest man in Mexico is making a $1.2 billion oil & gas investment, to develop Lakach, a giant oil filed offshore Gulf of Mexico. Lakach was discovered in 2007 and lies about 61 miles southeast of Veracruz. Carlos Slim’s investment company will partner with Pemex, Talos E...
Jeff Bezos is Selling $5 Billion of Amazon Shares
A regulatory filing revealed Jeff Bezos is planning to sell twenty five million shares of Amazon stock, valued at almost $5 billion. This comes after Amazon’s stock hit an all time high of $200.43 a piece. After the sale, Bezos will still own 912 million shares of Amazon or 8.8% of the company...
Oil & Gas Major ENI To Divest $4 Billion Worth Of Assets
Eni SpA, the Italian oil & gas major is looking to sell some of its upstream assets, estimated at $4.3 billion. The sale is reported to involve assets in Indonesia, Cyprus, Alaska, and Ivory Coast, amongst others. Eni is reportedly divesting of these assets to raise capital to finance its green ...
President Biden Awards $504 Million To Technology Hubs
The Biden administration has awarded $504 million in grants to certain technology hubs working on innovative technologies like artificial intelligence, clean energy, and AI chips. The funding is in an attempt to spur national growth and development of cutting edge technologies and create more tech j...
Hurricane Beryl Advances Into Category 5 and Causes Extensive Destruction
Beryl has advanced from a category 4 to a category 5 storm, and has reportedly caused massive carnage and destruction in parts of the Caribbean. Almost 90% of buildings, homes, and other infrastructure in eastern Caribbean were levelled. Beryl has also hit Jamaica, Cayman Islands, and Yucatan Penins...