EU approves ADNOC’s purchase of Germany’s Covestro
Brussels, Belgium -- The European Commission on Friday greenlit the takeover of German chemical firm Covestro by UAE state oil...Business
Microsoft unveils $15.2 billion AI, cloud computing investments in UAE
The deal sent US chip-maker Nvidia shares up 2.6 percent, buoyed by hopes the AI juggernaut could see access for...Business
EU approves ADNOC’s purchase of Germany’s Covestro
Brussels, Belgium -- The European Commission on Friday greenlit the takeover of German chemical firm Covestro by UAE state oil...Plastics maker Covestro accepted a bid from the Abu Dhabi National Oil Company in October, valuing the company at 12 billion euros ($14 billion).
ADNOC has promised to inject around 1.2 billion euros into the chemicals firm through the issuance of new shares under the terms of the takeover.
Google to invest $6.4bn
The investment is its biggest-ever in Germany.Google's plans include a new data center and expansion of an existing center in the western state of Hesse, providing computing power for artificial intelligence.
It also plans to expand its offices in Berlin, Frankfurt and Munich, and outlined various projects aimed at reducing its greenhouse gas emissions.
Pfizer poised to buy Metsera
The pharma giant improved its offer to $10bn.The Danish firm said Saturday that it "does not intend to make an increased offer to acquire Metsera."
The company "will continue to assess opportunities for business development and acquisitions that... further its strategic objectives," it said.
Ozempic maker lowers outlook
The company posted tepid Q3 results.It marked the latest bad news for the pharmaceutical giant, which has recently changed its CEO, announced plans to lay off 9,000 employees and replaced more than half of its board.
The group now expects full-year sales in 2025 to grow by eight to 11 percent, versus the eight to 14 percent range it had expected previously, the company said.
US AI firm Palantir announces joint venture in Dubai
Dubai, United Arab Emirates -- US software firm Palantir launched a joint venture with the Dubai government's investment arm on...The joint venture, named Aither, was unveiled a day after Microsoft announced $15.2bn in AI and cloud computing investments in the UAE, which seeks to become a global AI leader.
Palantir has a reach that spans the global economy, with banks, hospitals, the US government and the Israeli military among its ever-expanding client roster.
Microsoft unveils $15.2 billion AI, cloud computing investments in UAE
The deal sent US chip-maker Nvidia shares up 2.6 percent, buoyed by hopes the AI juggernaut could see access for..."This is not money raised in the UAE. It's money we're spending in the UAE," Smith wrote in a blog post published during a visit to Abu Dhabi.
Smith said the investments had been encouraged by both the US and UAE governments and had involved a partnership with the country's G42 sovereign artificial intelligence company.
Kimberly-Clark to buy Kenvue
The deal is valued at $48.7 billion.Kenvue's Tylenol painkiller has faced Trump administration allegations of links to increased autism risks.
Texas-based Kimberly-Clark makes a wide range of paper and cloth products, with brands such as Huggies, Kleenex and Kotex.
OpenAI signs $38 bn infrastructure deal with cloud giant AWS
Under the seven-year agreement, OpenAI, which is partly owned by AWS's archrival Microsoft, will gain access to computing resources including...The deal will also give access to tens of millions of more conventional CPUs that will be used for the everyday deployment of so-called agentic AI.
OpenAI will immediately begin utilizing AWS computing, with all capacity targeted to be used before the end of 2026, and the ability to expand further in the coming years.
Death becomes a growing business in ageing, lonely South Korea
Busan, South Korea -- Rows of coffins line a university classroom in the South Korean port city of Busan, ready...Single-person households now account for around 42 percent of all homes in Asia's fourth-largest economy.
A new profession has emerged reflecting that statistic: cleaners who are called in to tidy up homes after their occupants, most of whom lived alone, have died.
High price of gold inspires new rush in California
El Dorado Hills, United States -- Matt James has collected gold nuggets for years from the hills and riverbeds of...Though the value has fluctuated, it has effectively doubled in the last two years, reaching an all-time high of more than $4,380 an ounce in October.
The Gold Rush transformed California, known as the Golden State, and many towns in the Sierra Nevada are working to keep that moment in history alive.
