Newsroom
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...
Boston Celtics Majority Owner To Sell Stake In Team
The majority owner of NBA team Boston Celtics is selling his stake in the team. Wyc Grousbeck, majority owner of Boston Celtics announced on a post on X:
"Boston Basketball Partners L.L.C., the ownership group of the Boston Celtics, announced today its intention to sell all the shares of th...
President Biden Wants To Increase US Corporate Taxes To 28%
In an attempt to make companies pay more taxes, President Biden is pushing to increase US corporate taxes to 28%. This is stemming from the notion that corporations in the US are known for not paying their fair share in taxes. However not everyone is in support of this move, and some think increasin...
Saudi Aramco Awards $25 Billion In Contracts For Jafurah Gas Field Development
Saudi Aramco (Aramco) has awarded various contracts totaling $25 billion for the development of its enormous unconventional Jafurah gas field, expansion of the country’s Master Gas System, and new drills. Over $12 billion was awarded for core Jafurah developments, to include works like constru...
Hurricane Beryl Advances into Category 4
The first hurricane of the Atlantic season, Beryl has intensified into a category 4 storm, and is heading for the Caribbean. Grenada and Tobago, Barbados, Saint Lucia, Sant Vincent & the Grenadines, and Haiti are projected to be in its path. With winds of 130 mph, such a dangerous storm could ca...