GM reports US sales dip, that of EVs grew
The big Detroit automaker reported 659,601 US sales during the period.Company News Business
Microsoft cutting more jobs from its gaming unit amid industry layoffs
San Francisco, United States- Microsoft is cutting about 650 more positions from its gaming unit as it continues to tighten its...Business
Saudi Arabia to donate US$40m for UN agency in Gaza
The funds, according to the King Salman Humanitarian Aid and Relief Centre (KSrelief), would support UNRWA's "humanitarian relief efforts in...Israel accused some of UNRWA's employees of involvement in the October 7 Hamas attack
The UN has said that Israel has not provided it with any evidence for the allegations
Microsoft hires DeepMind co-founder to lead AI unit
Of all the tech giants, Microsoft has moved the fastest into adopting generative AI, integrating its powers into a whole...Suleyman is one of the biggest names in the artificial intelligence revolution that is taking the technology world by storm and his hiring is a major move by Microsoft
Suleyman said that some key collaborators at Inflection, including co-founder Karén Simonyan, had "chosen to join" his team at Microsoft
Google hit by US$272m fine in France
It breached an agreement on terms for paying media firms.French regulators said the fine was for "failing to respect commitments made in 2022" and accused it of not negotiating in "good faith" with news publishers
France has been a test case for the rules and after initial resistance Google and Facebook agreed to pay some French media for articles shown in web searches
ADX partners with Eureeca
The collaboration will bolster accessibility to ADX IPOs.The partnership between ADX and Eureeca capitalises on the exchange’s robust e-IPO investor portal, highlighting its commitment to simplifying the IPO process
The tie up will take advantage of Eureeca’s international investor base, giving regional and international retail and HNWIs the opportunity to participate in ADX IPOs
Federal Reserve begins two-day talk on interest rates
Washington, United States - The US Federal Reserve began two days of discussions on Tuesday at which policymakers are expected to...It will culminate on Wednesday afternoon with the publication of the interest rate decision, along with an updated summary of economic projections (SEP)
The Fed has raised interest rates to a 23-year high of between 5.25 and 5.50 percent as it looks to return inflation firmly to its long-term target of two percent
Google’s new AI for corner kick tactics gets Liverpool approval
PARIS, FRANCE – Liverpool football analysts have given their seal of approval to a new artificial intelligence tool from Google that...Many clubs across the world already deploy experts to comb through video and data to carefully plan corner kick scenarios ahead of matches.
Google DeepMind, the AI arm of the US tech giant, also targeted corners for its new TacticAI system in research.
Masdar to buy stake in Terra-Gen
Masdar to buy 50 percent stake in Terra-Gen from ECP.Masdar’s US portfolio of utility-scale wind, solar and storage assets has a generating capacity of over 1.4 GW.
The US market will play a vital role as Masdar plans to build a renewable energy portfolio of 100 GW capacity by 2030
AstraZeneca to buy Fusion
The $2.4bn deal is its latest expansion into cancer treatments.Fusion is developing next-generation radiotherapy to treat cancer via precise targeting that minimizes damage to healthy cells
AstraZeneca, whose cancer treatments represent a third of its overall sales, saw its share price drop one percent following the news
UAE investments abroad reach US$2.5trn in beginning of 2024, says UAEIIC
ABU DHABI, UAE – The United Arab Emirates has solidified its position as a leading regional and global player in...This robust financial footprint positions the UAE as a significant economic force with strong potential for continued expansion.
The focus on emerging markets and the creation of strategic partnerships further amplifies this momentum.
Saudi EXIM bank surpasses 2023 credit goals by 33%
Riyadh, Saudi Arabia -- The Saudi EXIM Bank has given credit facilities amounting to SAR16.5 billion ($4.455 billion), surpassing the...One significant achievement was a credit facility agreement valued at $503.9 million with Trafigura Company, a major international export house
The agreement aims to facilitate Saudi non-oil exports to over 150 countries, contributing to the objectives of the Kingdom's Vision 2030