Musk’s title of richest person challenged by Oracle’s Ellison
New York, United States - Billionaire Elon Musk is at risk of losing his title of world's wealthiest person to...Business
UK publisher of Daily Express, Mirror tabloids announces job cuts
London, United Kingdom - The British media group which owns the Daily Express and Daily Mirror tabloids on Monday announced...Business
Musk’s title of richest person challenged by Oracle’s Ellison
New York, United States - Billionaire Elon Musk is at risk of losing his title of world's wealthiest person to...Ellison, 81, amassed more than $100 billion in additional wealth Wednesday as Oracle shares skyrocketed after the nearly 50-year old company forecast massive revenue growth
That rise lifted Ellison's overall wealth to about $406 billion compared with Musk's roughly $440 billion, according to a Forbes real-time billionaire's index
Stock markets strike records despite geopolitical unrest
Gains for oil prices were relatively modest, while gas futures were unmoved after Israel's strikes Tuesday against Hamas in gas-rich...Wall Street had notched fresh highs Tuesday as markets digested weak US jobs data that added to expectations that the Fed will lower US interest rates at their next meeting.
Tokyo's stock market ended at an all-time high, as did Seoul where traders were hopeful the government will not implement plans to lower the capital gains tax threshold for stocks.
Europe hyperloop test hits new speed record in Dutch trial
The Hague, Netherlands -- A Dutch tech startup said Wednesday it had set a European speed record for its futuristic...Hardt Hyperloop said its vehicle had reached 85 kph at the 420 meter European Hyperloop Center test track in the Netherlands and had carried out a complex lane switching test.
It said the lane switching maneuver -- essential for networked routes -- showed there were no technical barriers to operating at aircraft-like speeds.
Stocks climb eyeing US rate cut, political turbulence
A steep downward revision to US job creation cemented expectations that the Federal Reserve would begin lowering its benchmark rate...US employment growth is likely to be revised down by 911,000 for the 12 months ending in March, official data showed.
Investors are now looking to consumer inflation data coming Thursday, since a hot reading could keep the Fed from cutting further as it looks to curb price increases.
Mistral cements AI lead in Europe with cash infusion
Paris, France -- France's Mistral on Tuesday cemented its position as Europe's top AI hope against far larger US and...The 1.7 billion euro ($2bn) cash infusion values Mistral at 11.7bn euros, double its heft last year but a fraction of the $183bn price tag placed on US firm Anthropic this month.
ASML, a key producer of the machines that churn out the chips powering artificial intelligence models, was the lead investor.
UK publisher of Daily Express, Mirror tabloids announces job cuts
London, United Kingdom - The British media group which owns the Daily Express and Daily Mirror tabloids on Monday announced...While 135 jobs would be created focusing on live news and video, 321 posts would be axed, the British news giant told AFP via email
"The changes we are seeing in the landscape right now demand a wholesale change in how we operate and how we tell stories," said Higgerson
ADCB to raise $1.66bn
The rights issue aimed at boosting growth.The rights issue will increase ADCB's issued capital from AED 7.32 billion to AED 7.91 billion by issuing up to 592.2 million new shares.
The new shares will be priced at AED 10.3 each, a 30% discount to ADCB’s closing share price on September 4, 2025.
EGA H1 revenue $4.11bn
Net profit before GAC $445 million.The company's primary hot metal production remained steady at 1.34 million tons.
EGA sold 1.37 million tons of cast metal to over 400 customers in more than 50 countries, up from 1.31 million tons in H1 2024.
Tesla proposes package for Musk that could top $1 trillion
New York, United States -- Tesla unveiled on Friday a proposed compensation package for Elon Musk that could top $1...The plan potentially provides Musk -- already the world's wealthiest person -- with up to 12 percent of additional total company shares.
Tesla's current market capitalization is just over $1 trillion, down somewhat from its peak following recent weak earnings.
EU hits Google with $3.47 billion fine despite Trump threats
Brussels, Belgium -- The EU slapped Google with a massive 2.95 billion euro ($3.47 billion) antitrust fine for favoring its...Google immediately vowed to appeal the decision by the European Commission, which accused the US firm of distorting competition in the 27-nation bloc.
The fine comes despite threats by Trump to go after Europe for regulations seeking to rein in US tech giants.
