In a noteworthy development in the world of finance, BlackRock, the global investment management corporation, has obtained a commercial license to operate in Abu Dhabi. This strategic move, announced on November 18, 2024, highlights the firm’s increasing engagement with the Middle East, particularly in the realm of digital finance and technologies. This license opens the […]
Trump's Win Sparks Surge of Over 11,000 New Bitcoin Millionaires
Donald Trump’s victory in the 2024 presidential election has unleashed a remarkable surge in Bitcoin wealth, giving rise to more than 11,000 new Bitcoin millionaires. This phenomenon unfolded on November 6, when the number of Bitcoin wallets holding resources equivalent to or exceeding $1 million jumped from 121,061 to 132,842 within a single month. Such […]
Meta Reports Strong Earnings Amid Rising AI Costs
Meta Platforms, the parent company of Facebook, Instagram, WhatsApp, and Oculus, has recently released its third-quarter earnings report, showcasing a remarkable performance that has exceeded analysts’ expectations. The company reported a profit of $6.03 per share, significantly higher than the anticipated $5.25. Additionally, Meta’s revenue hit an impressive $40.59 billion, narrowly beating the forecasts set […]
Astier de Villatte Sells Majority Stake to Vesper
Astier de Villatte, the renowned Paris-based lifestyle brand, has taken a significant step in its growth journey by selling a majority stake to Vesper, a private equity firm. Founders Ivan Pericoli and Benoît Astier de Villatte will maintain a notable stake and remain at the helm of the brand’s creative direction. The financial details of […]
OpenAI Seeks Investor Commitment Against Competitors
In a strategic move to solidify its dominance in the increasingly competitive artificial intelligence sector, OpenAI is not merely seeking capital; it is aiming to forge exclusive commitments from its investors. The company has garnered substantial backing, with high-profile investors like Thrive Capital and Tiger Global committing a staggering $6.6 billion. However, OpenAI’s latest request […]
AI Growth Fueled by New Malaysian Policy
In a bold move to establish itself as a center for artificial intelligence (AI) innovation, Malaysia has announced significant plans to create a national cloud policy and regulations to encourage ethical AI practices. Prime Minister Anwar Ibrahim highlighted these initiatives amid rising global tech investments, which are vital for developing the infrastructure needed to meet […]
Inbolt Secures €15 Million to Boost Robot AI
In the competitive landscape of robotics, securing adequate funding plays a pivotal role in driving innovation and expansion. Recently, the Paris-based startup Inbolt successfully raised €15 million in a Series A funding round, bringing its total funding to €20 million. This critical infusion of capital is expected to significantly enhance Inbolt’s capabilities in the development […]
What the Fed’s Big Rate Cut Means for Fashion
In a significant policy shift, the U.S. Federal Reserve has reduced interest rates for the first time since the pandemic, a decision resonating throughout various sectors, including fashion. The reduction of rates, by half a percentage point to a range of 4.75% to 5%, aims to stimulate economic activity by making borrowing cheaper for consumers […]
BlackRock and Microsoft Plan $30 Billion AI Infrastructure Investment
In a significant move towards bolstering artificial intelligence capabilities, BlackRock and Microsoft have unveiled plans to establish a groundbreaking investment partnership valued at over $30 billion. This initiative, known as the Global AI Infrastructure Investment Partnership, will focus on creating the essential infrastructure needed to support the escalating demand for AI technologies across the globe. […]
Exclusive: L Catterton Invests in British Fragrance Brand Vyrao
In a strategic move signaling the growing dynamics of the fragrance sector, L Catterton, the private equity powerhouse backed by luxury conglomerate LVMH, has invested in Vyrao, a rising star in the niche perfume market. The investment marks a significant step for Vyrao as it prepares for expansive growth. Founded by Yasmin Sewell, a former […]