(Brands & Consumers)
Bob Iger, the Chief Executive Officer of Disney, saw a substantial increase in his compensation, totalling $31.6 million for the year 2023, marking a significant boost from his earnings in the preceding year. The breakdown of Iger’s 2023 pay package, as outlined in The Walt Disney Company’s annual proxy statement filed on Tuesday, includes a…
In a recent development, a federal appeals court has rejected Apple’s motion to temporarily halt the ban on importing advanced models of the Apple Watch. The ban, previously enforced by a US International Trade Commission (ITC) ruling last month, is set to be reinstated on Thursday, as outlined in a court filing on Wednesday. Apple…
During its annual Samsung Galaxy Unpacked event on Wednesday, Samsung showcased its next-generation flagship Galaxy S24 devices, emphasizing a significant leap in messaging, photography, and gaming through the integration of artificial intelligence (AI). The move is part of Samsung’s strategy to stand out in a saturated market and rekindle enthusiasm for innovation. The Galaxy S24…
ALI Technologies, a Japanese start-up that aimed to revolutionize urban transport with its futuristic hoverbike, has filed for bankruptcy. The move is part of a strategic relocation plan to California by its US parent company, Aerwins Technologies, with hopes of revitalizing its vision through a new business partnership. Despite garnering attention, including a high-profile image…
Global drinks giant Diageo and rapper Sean Combs, famously known as Diddy, announced on Tuesday that they have resolved their legal dispute surrounding their shared spirits brands. The settlement comes after Diageo terminated its partnership with Diddy in June, triggering a lawsuit from the rapper who accused the company of racial neglect towards his tequila…
In a recent outcry against the controversial use of AI-generated voices, Ned Luke, renowned for his portrayal of Michael De Santa in GTA 5, has expressed strong disapproval towards a company employing his voice without permission to create a Michael AI chatbot. Luke revealed that the technology was also misused to fabricate clips that falsely…
The gaming industry is witnessing a trademark dispute unfold as Take-Two Interactive, the parent company of Rockstar Games, clashes with Remedy Entertainment, the developer renowned for the Max Payne and Alan Wake franchises, over allegations that Remedy’s new “R” logo bears a striking resemblance to that of Rockstar Games. According to reports from RespawnFirst, Take-Two…
Ride-hailing giant Uber has announced the closure of its alcohol delivery app, Drizly, just three years after its acquisition for $1.1 billion. The move is part of Uber’s strategic consolidation, focusing on integrating Drizly’s marketplace into its primary delivery app, Uber Eats. Drizly, which became the largest online alcohol marketplace in North America, will cease…
Tech visionary Bill Gates shares his optimistic outlook on the transformative power of artificial intelligence (AI) in the coming five years, envisioning significant improvements that will benefit people globally. While concerns about AI’s potential job displacement persist, Gates draws parallels to historical shifts, citing the positive outcomes that emerged with the advent of new technologies….
In a significant development for Apple, the US Supreme Court has chosen not to review the lower court’s order, compelling Apple to adhere to a broad injunction that could reshape its relationship with mobile app developers and impact billions of dollars in app-related sales. Apple, which estimated developers generated $1.1 trillion in the App Store…
During the World Economic Forum in Switzerland, Microsoft CEO Satya Nadella shared his positive outlook on the future of artificial intelligence (AI) in a conversation with Klaus Schwab, chairperson of the World Economic Forum. Nadella discussed the direction he believes the AI industry is heading and emphasized the importance of safety measures. Nadella acknowledged the…
Champagne sales have experienced a downturn in 2023, stepping back from the record-breaking heights achieved in the Covid-19 era. The Comité Champagne, representing over 16,000 winegrowers and 320 Champagne houses, reported a decline in total shipments of bubbly from France, reaching 299 million bottles—a drop of 8.2% compared to 2022. This decrease signifies a return…
In a strategic move to counter the US court-imposed Apple Watch ban, Apple has secured approval for a redesign that eliminates the pulse oximeter function from its smartwatches. This feature, marketed as a health-monitoring tool for customers, will be sacrificed to comply with the regulatory requirement. According to a federal court filing on Monday, Apple’s…
In a strategic move, Hertz, a company that had been significantly expanding its electric vehicle (EV) fleet, has decided to sell around 20,000 electric cars, constituting a third of its EV lineup. The company plans to utilize the funds generated from the sale to acquire more gasoline-powered vehicles. Despite the initial push into EVs, Hertz…
An All Nippon Airways (ANA) domestic flight faced an unexpected turn of events as it returned to its departure airport due to a crack in the cockpit window of the Boeing 737-800 aircraft, the airline confirmed on Monday. The incident occurred approximately 40 minutes after take-off, with the crack discovered in the “second window from…
In a recent legal saga, Meta, the parent company of Facebook, finds itself entangled in a lawsuit filed by a group of authors who allege that the tech giant employed copyrighted material, including the infamous Books3 dataset, in training its Llama 1 and Llama 2 large language models. While Meta has admitted to utilizing the…
In a groundbreaking collaboration with the Department of Energy’s Pacific Northwest National Laboratory (PNNL), Microsoft’s AI, powered by the Azure Quantum Elements cloud platform, has identified a novel material poised to transform rechargeable battery technology. The tech giant’s AI algorithms, working in tandem with PNNL, accelerated the research on materials beyond lithium, a move aimed…
Nairobi Bottlers Limited has returned to the High Court, seeking an extension of 10 months to comply with a 2018 judgment directing the inclusion of nutritional information, storage details, and contact information on the glass bottles of Coca-Cola, Krest, Fanta, Sprite, and Stoney brands. The Supreme Court affirmed this directive in November, and the company…
In an unexpected turn of events, a Mexican smartphone retailer has preemptively listed the highly anticipated Samsung Galaxy S24 on its website, revealing key details about the flagship device even before the official announcement at the Galaxy Unpacked 2024 event. The Yellow Amber variant of the Galaxy S24, available in both 128GB and 256GB configurations,…
Anheuser-Busch InBev, the brewer behind Bud Light, makes history by becoming the inaugural beer sponsor for the next three Olympics and Paralympic Games, opting to feature its non-alcoholic brand, Corona Cero, in a groundbreaking move. Breaking the traditional mold of established beer brands as sponsors, AB InBev aims to promote responsible consumption globally through Corona…
Researchers revealed that they warned Apple about potential vulnerabilities in its AirDrop wireless sharing feature as early as 2019, a revelation that comes in the wake of Chinese authorities allegedly using the flaws to track users of the tool. The security concerns surrounding AirDrop, which enables Apple users to share files wirelessly, have raised global…
Citigroup is set to implement a substantial workforce reduction, with CFO Mark Mason revealing plans to lay off 20,000 employees over the next two years. This decision follows the bank’s dismal performance in the fourth quarter of 2023, reporting a net loss of $1.8 billion, marking its worst quarter in 15 years. The significant reduction…
In a significant shift, Microsoft has claimed the title of the world’s most valuable publicly traded company, surpassing Apple as of the market close on Friday. Microsoft’s stock (MSFT) concluded the day at $338.47 per share, resulting in a market capitalization of $2.89 trillion, while Apple’s stock (AAPL) closed at $185.92 per share, with a…
ESPN has returned multiple Emmy statues and implemented disciplinary measures following an internal investigation that uncovered the network’s submission of fake names to the National Academy of Television Arts & Sciences (NATAS) in pursuit of awards for ineligible on-air personalities. The fraudulent activity reportedly spans as far back as 1997, with ESPN acknowledging the wrongdoing…
eBay has agreed to pay a $3 million criminal penalty in the wake of a harassment campaign orchestrated by former employees against a Massachusetts couple who ran a newsletter critical of the company. The settlement, announced on Thursday, follows eBay being charged with six criminal offenses, including stalking, witness tampering, and obstruction of justice. In…
Former Vice President of the United States and climate activist Al Gore is officially stepping down from Apple’s Board of Directors as he reaches the age limit set by the company’s policy. Apple, adhering to its rule that directors cannot stand for reelection after turning 75, announced Gore’s retirement on Thursday. Having served on the…
Amazon, the global tech giant, has made significant workforce reductions, affecting two key business units—its streaming platform Twitch and the film and television studios division. The company is trimming “several hundred” roles across Prime Video and Amazon MGM Studios, as confirmed by an internal memo obtained by CNN. Concurrently, Twitch, the video game streaming company…
As anticipation builds for the release of the Samsung Galaxy S24 Series, leaked marketing materials provide a sneak peek into the groundbreaking features that Samsung is poised to deliver. The series not only focuses on robust hardware configurations but also promises an unparalleled software experience, accentuating advancements in Artificial Intelligence (AI). One standout feature highlighted…
In a recent survey conducted by The Conference Board, it was disclosed that a mere 4% of CEOs in the United States and globally are prioritizing a complete return to the office for their employees. The findings signify a notable shift in focus, with business leaders emphasizing talent attraction and retention as their foremost internal…
Global coffee giant Starbucks is facing legal action from the National Consumers League over allegations of deceptive marketing regarding its claims of “100% ethical sourcing” of coffee and tea. The lawsuit, filed in a Washington, DC court, contends that Starbucks falsely represents its commitment to ethical sourcing while engaging with cooperatives and farms involved in…
Netflix’s ad-supported tier has witnessed a substantial growth, reaching over 23 million monthly active users, according to Amy Reinhard, the streaming service’s President of Advertising. This marks an increase of approximately 8 million users in the past two months, with Netflix reporting 15 million global monthly active users in November 2023. Speaking at the Variety…
Snapchat has introduced a new feature allowing parents to decide whether their teenagers can engage with the app’s “My AI” chatbot, addressing concerns about the tool’s safety for young users. The update in parental oversight tools, part of the broader Family Center additions, enables parents to block their teens from interacting with the My AI…
Walt Disney is navigating a pivotal juncture as it seeks to redefine its trajectory in India, a market it entered with the acquisition of Star India from 21st Century Fox five years ago. The conglomerate is currently engaged in discussions with Mukesh Ambani’s Reliance Industries to amalgamate their media businesses, presenting a potential reboot for…
Kia has officially joined the electric van race, presenting a range of highly customizable electric van concepts at this year’s Consumer Electronics Show (CES) on Tuesday. The move places Kia among the growing list of automakers targeting the burgeoning market for electric delivery and commercial vans. As consumer habits shift towards increased home deliveries, there…
At the Consumer Electronics Show (CES) in Las Vegas, Honda made a significant stride into the electric vehicle (EV) market by introducing its latest concept cars, the Honda 0 Series. These prototypes provide an early glimpse into Honda’s upcoming line of electric vehicles, with the first model slated for production in 2026. As part of…
A Beijing-based tech company, Wangshendongjian Technology, has reportedly achieved a breakthrough in cracking the encryption surrounding Apple’s AirDrop wireless file-sharing function, allowing for the identification of users, as stated by Beijing’s Justice Bureau. The company’s success in assisting the police was highlighted in tracking individuals who utilized AirDrop to send “inappropriate information” to Beijing subway…
BlackRock, the world’s largest asset management company, has announced its acquisition of Global Infrastructure Partners (GIP), a firm established by Nigerian investment banker Adebayo Ogunlesi, in a deal valued at $12.5 billion. The transaction involves BlackRock paying $3 billion in cash and offering Ogunlesi and five other co-founders 12 million shares in BlackRock, establishing them…
In a scoop for Apple enthusiasts, the much-anticipated iPhone 16 Pro series is set to be the largest in Apple’s smartphone lineup, with displays estimated at approximately 6.3 inches and 6.85 inches, surpassing the current iPhone 15 Pro and Pro Max models. Multiple sources have provided insights to MacRumors, suggesting that the larger screens will…
In a strategic move to tap into the surging demand for coffee in India, Starbucks has outlined plans to open 1,000 stores in the country by 2028, averaging the launch of one new location every three days over the next four years. Currently operating 390 stores in India through a 50% joint venture with Tata…
Language-learning software giant Duolingo has announced a 10% reduction in its contractor workforce, signalling a shift towards increased integration of artificial intelligence (AI) in its operations. According to a Duolingo spokesperson, the decision to “offboard” a portion of its contractors is attributed to the company’s evolving needs, with AI playing a role in optimizing certain…
At this year’s Consumer Electronics Show (CES), where artificial intelligence (AI) dominates discussions, Tropicana, the leading orange juice brand, is making waves by distancing itself from the AI buzz. In a cheeky marketing stunt, the company is launching limited-edition bottles that omit the letters “A” and “I” from its name, rebranding as “Tropcn” to draw…
In a recent policy update, Uber has announced changes to its Uber One subscription, specifically regarding the $5 Uber Cash credit previously offered for late delivery arrivals. Effective February 5th, Uber One members will no longer receive the $5 Uber Cash credit if their delivery arrives beyond the latest estimated arrival time. The company has…
Renowned for its bold style and unmatched comfort, the Nike Air Max Plus is gearing up for a comeback with the much-anticipated “Hyper Blue” colourway. This iconic sneaker, celebrated for its sleek design and futuristic appeal, is set to receive a vibrant twist with the infusion of electrifying blue hues. The upcoming “Hyper Blue” iteration…
As the eagerly anticipated Galaxy S24 Unpacked event scheduled for January 17 approaches, leaks surrounding Samsung’s latest flagship are gaining momentum. The most recent leak includes two live photos purportedly showcasing the Galaxy S24 Ultra, featuring an eye-catching gold paint job. While this isn’t the first time glimpses of the Galaxy S24 Ultra have surfaced,…
In a significant move to address financial challenges, Audacy, a prominent multi-platform audio content company, has officially filed for prepackaged Chapter 11 bankruptcy proceedings. The announcement came on Sunday, marking a critical step for the struggling internet radio conglomerate, one of the largest radio companies in the United States. Audacy cited substantial debt and a…
Here’s something sure to make Elon Musk smile – short sellers, those investors who placed bets that the value of Tesla shares were going to go down, lost a combined $12.2 billion last year, more than short sellers lost on any other company in 2023. Despite the losses suffered by shorts, Tesla’s shares more than…
Boeing faces renewed scrutiny over the safety of its aircraft as an Alaska Airlines flight was compelled to execute an emergency landing on Friday following a panel and window blowout. The incident raises questions about the airworthiness of Boeing’s planes, adding to the series of engineering and quality challenges the aerospace giant has encountered in…
As the beer industry navigates the ebbs and flows of 2023, the spotlight shifts to anticipated trends shaping the landscape in 2024, with Anheuser-Busch InBev (BUD), the producer of Bud Light, eyeing a significant comeback. Amidst the aftermath of the boycott faced by Anheuser-Busch InBev, competitors such as Constellation Brands (STZ) and Molson Coors (TAP)…
Investors seeking opportunities in the artificial intelligence (AI) sector have a plethora of options, with companies integrating AI solutions into their operations. While “pure plays” might be limited, some companies with deeply embedded AI solutions offer substantial investment potential. Three standout AI stocks for consideration this January are Super Micro Computer (NASDAQ: SMCI), Taiwan Semiconductor…
In a surprising turn of events, coffee giant Starbucks is now under scrutiny for allegedly employing dark patterns in its mobile application, a tactic that consumer advocates claim has contributed to the company amassing nearly $900 million over the past five years. The Washington Consumer Protection Coalition filed a complaint on December 19, accusing Starbucks…
