(Brands & Consumers)
A recent report by World Coffee Portal reveals that China has emerged as the leading market for branded coffee shops globally, surpassing the United States in the number of outlets. Over the past 12 months, the second-largest economy witnessed a remarkable 58% growth in branded coffee shops, reaching a total of 49,691 outlets, according to…
In a landmark move towards transparency, Netflix has released its inaugural report titled “What We Watched: A Netflix Engagement Report,” providing a detailed overview of viewer engagement over six months. This report is part of the company’s commitment to transparency, with plans to publish it biannually, as outlined in a recent memo. For the first…
In the wake of the revelation that Sports Illustrated had been publishing articles allegedly authored by artificial intelligence, leading to a controversy involving fake author names and AI-created images, Ross Levinsohn, the CEO of The Arena Group, the magazine’s publisher, has been terminated from his position. The Arena Group, housing prominent brands such as TheStreet,…
In a bold move towards more personalized user interactions, Google is considering a new project, codenamed Project Ellmann, which aims to develop a chatbot equipped with an intimate understanding of users. The proposed system would go beyond the conventional chatbots that rely on past interactions, offering a more profound level of engagement by utilizing a…
In response to a persistent decline in toy sales, Hasbro is set to lay off approximately 1,100 employees, representing nearly 20% of its workforce, according to a memo issued by Hasbro CEO Chris Cocks on Monday. This latest round of job cuts follows the elimination of around 800 positions earlier this year. Cocks attributed the…
In a strategic move to boost margins in its podcasting and audiobook divisions, Spotify has announced a major shift towards artificial intelligence (AI), resulting in a series of layoffs. The streaming giant, known for its personalized user experience driven by AI, has undergone three rounds of layoffs in the past year, eliminating 590 positions in…
In an extraordinary stroke of luck, Wayne Murray has emerged victorious in the New York Lottery’s 200X scratch-off game, securing a $10 million jackpot for the second time. This incredible win comes just 16 months after his initial triumph in the Black Titanium scratch-off game. Murray, opting for a lump sum payment, will take home…
In a recent interview, Hideaki Nishino, Senior Vice President of Platform Experience at Sony Interactive Entertainment, shared insights into Sony’s holiday season strategy and the PlayStation 5’s position in the gaming landscape. Sony is gearing up for a robust holiday season, anticipating the PlayStation 5 to potentially become its most successful console to date. With…
The Federal Trade Commission (FTC) has called on a federal appeals court to intervene and block Microsoft’s recent $69 billion acquisition of video game publisher Activision Blizzard. The FTC argues that District Judge Jacqueline Scott Corley, who allowed the deal to proceed in July, was too lenient in accepting Microsoft’s promises about the future of…
In a strategic move to compete in the dynamic field of generative artificial intelligence, Google has launched Gemini, touted as its most advanced AI model to date. The tech giant aims to harness Gemini’s capabilities to enhance everything from consumer apps to Android smartphones, positioning itself as a formidable contender against OpenAI’s GPT models. Describing…
In the latest release of Wikipedia’s annual roundup, the top 25 most viewed pages of 2023 offer a snapshot of global interests, spanning artificial intelligence innovation, notable deaths, and the rising influence of Indian users on the platform. Run by the nonprofit Wikimedia Foundation, Wikipedia has garnered an astounding 84 billion page views in 2023,…
Google has escalated its battle against ad blockers on YouTube with a significant move that could affect Chrome users. The new policy introduced in the Manifest V3 extension platform is poised to deal a potentially fatal blow to ad blockers on YouTube, particularly on the Chrome browser. As part of its strategy to discourage users…
In a significant move within the aviation industry, Alaska Air (ALK) disclosed on Sunday its plans to acquire Hawaiian Airlines (HA) for a substantial $1.9 billion. The acquisition, resulting from several months of negotiations, includes the absorption of $900 million in Hawaiian Airlines debt. Alaska Airlines CEO Ben Minicucci expressed enthusiasm about the deal during…
In an unexpected turn of events, a leaked trailer for the highly anticipated “Grand Theft Auto VI” surfaced online, revealing crucial details about the game’s release date. The trailer, which garnered over 32 million views within its initial hours on YouTube, showcased the next instalment of the iconic and action-packed game franchise. Originally scheduled for…
After four years since its initial unveiling and amidst delays and controversies, Tesla’s highly anticipated Cybertruck has finally reached the hands of approximately a dozen customers. However, the original base-model price of $39,900 announced in 2019 has seen a notable increase of over 50%, now standing at $60,990. Elon Musk, Tesla’s CEO, initially claimed in…
Elon Musk, CEO of Tesla, marked the long-awaited delivery of the Cybertruck, which was first unveiled four years ago. Despite the flashy event, the new price revealed on Tesla’s website stirred discussions, as the Cybertruck comes with a higher price tag than initially discussed. The starting price for the Cybertruck is $60,990 before federal tax…
Saudi Arabia’s Public Investment Fund (PIF) has reached an agreement to purchase a 10% stake in Heathrow Airport from Spanish infrastructure company Ferrovial. Additionally, France-based private equity fund Ardian will acquire another 15% in Heathrow’s parent company, FGP Topco. Ferrovial, which has held a stake in Heathrow since 2006, revealed that the deal’s total value…
Renowned footballer Cristiano Ronaldo is confronting a class action lawsuit in the United States regarding his promotion of Binance, the world’s largest cryptocurrency exchange. Plaintiffs allege that Ronaldo’s endorsement persuaded them to engage in loss-making investments, seeking damages exceeding $1 billion (£790 million). In November 2022, Binance introduced its first “CR7” collection of non-fungible tokens…
In a heated tirade, Tesla and SpaceX CEO Elon Musk has vehemently criticized companies participating in an advertising boycott of X (formerly Twitter), warning that their actions may lead to the demise of the social media platform. Speaking at the New York Times’ DealBook Summit, Musk accused advertisers, including Disney, Apple, and Comcast, of attempting…
Rite Aid, grappling with financial challenges and intensified competition in the pharmaceutical retail sector, is set to shutter approximately 30 more locations across the United States. This move comes in addition to the 100 stores that the pharmacy chain declared last month as part of its broader restructuring efforts. The recent disclosure of closures was…
In a recent development, Google has reached a resolution with Canada to prevent a news blackout in response to the impending Online News Act, set to come into effect on December 19. The law mandates tech giants like Google and Meta (owner of Facebook and Instagram) to negotiate payment agreements with news outlets. Earlier, Google…
A potential deal for Abu Dhabi-backed investors to acquire The Telegraph and Spectator magazine is imminent, set to be finalized as early as Friday. The titles came under Lloyds Bank’s control as part of the effort to recover £1.1bn owed by the former owners, the Barclay family. In a recent agreement, an Abu Dhabi-backed firm…
Charlie Munger, the esteemed collaborator of Warren Buffett in shaping Berkshire Hathaway into a global investment giant, has died at the age of 99. The announcement came from Berkshire Hathaway, stating that Munger passed away on Tuesday morning at a California hospital, just over a month before his anticipated 100th birthday. Warren Buffett, in a…
ByteDance, the Chinese tech giant renowned for its ownership of TikTok, is making a strategic shift away from the gaming industry, resulting in a significant reduction of its workforce. The company will wind down Nuverse, the unit housing its video game studios, next month, aiming to concentrate on its core businesses, according to an inside…
Ubisoft, a prominent video game developer, is facing widespread criticism from gamers after reports emerged that the company is injecting pop-up ads into the middle of gameplay, disrupting the user experience. The controversial move has led to a surge of discontent among players, prompting them to express their dissatisfaction on social media and online forums….
Japanese automaker Honda has issued a recall for more than 300,000 vehicles, citing faulty seat belts as the cause for concern. The recall, announced in a notice filed with the National Highway Traffic Safety Administration (NHTSA) on Tuesday, affects specific models including the 2023-2024 Accords and HR-Vs. The identified issue involves missing pretensioner rivets in…
In a significant development, Sony is set to face a $7.9 billion lawsuit over allegations of overcharging consumers for games and in-game purchases on its PlayStation Store. The Competition Appeal Tribunal (CAT) ruled in favour of consumer rights advocate Alex Neill, who initiated the suit in August 2022, accusing Sony of violating competition law and…
In a groundbreaking move within the landscape of NIL (Name, Image, Likeness) deals filtering into the prep ranks, global sportswear giant Adidas has achieved a significant milestone. adidas and high school junior Darryn Peterson have jointly announced a historic NIL partnership, marking Peterson as the first-ever prep player to sign with the renowned sportswear company….
Nvidia, a frontrunner in the AI sector, has demonstrated remarkable financial success in its latest quarterly report, with revenue tripling compared to the previous year. The company’s third-quarter financials revealed revenue of $18.12 billion, surpassing Wall Street predictions of $16.18 billion. This achievement signifies a substantial 206% increase compared to the $5.9 billion recorded in…
Chinese entrepreneur Jack Ma has decided to delay the sale of hundreds of millions of dollars worth of Alibaba shares following a significant drop in the company’s stock value last week. Regulatory filings had disclosed Ma’s intention to sell 10 million shares, valued at almost $871 million. However, due to Alibaba’s stock price falling below…
In a bid to address revenue manipulation concerns and ensure fair compensation within its streaming platform, Spotify has announced significant changes to its royalty system, particularly impacting non-music tracks such as rain sounds and white noise. In a blog post on Tuesday, Spotify detailed the modifications that include an increase in the minimum track length…
Leading video game hardware specialist, Analogue, continues to captivate gaming enthusiasts with its limited-edition releases, and the latest announcement is sure to stir up nostalgia among fans. The company has revealed the Classic Limited Edition line of its popular handheld gaming system, the Analogue Pocket, featuring iconic Game Boy and Game Boy Advance colours. The…
In a significant development, Changpeng Zhao, the CEO of Binance, has stepped down and pleaded guilty to money laundering breaches in a deal that involves the cryptocurrency exchange paying over $4 billion in penalties, according to prosecutors. The Department of Justice revealed that Binance, under Zhao’s leadership, committed crimes that contributed to its status as…
In a series of rapid developments, Microsoft has welcomed Sam Altman, co-founder of OpenAI, into its fold to enhance innovation in artificial intelligence (AI). This move comes in the wake of Altman’s unexpected ousting as CEO of OpenAI in a chaotic boardroom coup on Friday. Concurrently, OpenAI finds itself grappling with a leadership shuffle, marking…
A significant number of major advertisers have pulled their support from X, the social media platform led by Elon Musk, following his recent endorsement of an antisemitic conspiracy theory aligned with White supremacists. The high-profile withdrawal includes global media giants such as Disney, Paramount, NBCUniversal, Comcast, Lionsgate, and Warner Bros. Discovery, the parent company of…
OpenAI, the groundbreaking company responsible for the viral chatbot ChatGPT, shocked the AI industry by firing its CEO and founder, Sam Altman, on Friday. The decision, fueled by an internal investigation, revealed that Altman was not consistently truthful with the board, undermining the company’s trust in his leadership. In a statement, OpenAI declared, “The board…
In a significant move reflecting the growing acceptance of hybrid technology, Toyota has revealed that the redesigned 2025 Camry, America’s best-selling car, will be available exclusively as a hybrid. While the Camry currently offers a hybrid version alongside traditional models, the forthcoming redesign marks a strategic shift for the popular sedan. Toyota, known for its…
In a significant move, Mars is set to acquire Hotel Chocolat, the largest independent chocolate maker in Britain, in a deal valued at £534 million ($661 million). The acquisition is expected to enhance Mars’ growth prospects, especially outside the United Kingdom. Upon news of the deal, shares of Hotel Chocolat surged by 164% on Thursday,…
In a surprising move, Google has halted the sales of Fitbit products in nearly 30 countries, with a primary focus on markets in the Americas. This decision comes after Google’s acquisition of Fitbit in 2021, with the initial promise to enhance accessibility to health and wellness services globally. Fitbit products are no longer available for…
China has proudly introduced what it claims to be the world’s most advanced internet network, set to operate at speeds several times faster than existing networks. The revolutionary network, capable of reaching approximately 1.2 terabits (1,200 gigabits) per second, promises groundbreaking advancements in data transfer, with the capability to transmit data from 150 movies in…
Kim Kardashian recently spilled the tea on her 10-year-old daughter North West’s entrepreneurial exploits, revealing the young businesswoman runs a lemonade stand, showcasing her keen business acumen. In an interview with GQ for their “Men of the Year” issue, Kim shared the intriguing details of North’s lemonade enterprise. According to Kim, North goes all out…
Chinese tech giant Huawei has entered the electric vehicle (EV) market to rival Tesla with the introduction of its first sedan, the Luxeed S7. The company, known for its technological prowess, has partnered with Chinese automaker Chery for this venture, marking a shift from its previous focus on SUVs. Preorders for the Luxeed S7 commenced…
In the midst of his legal battle with Cîroc’s parent company, Diageo, music mogul Diddy has officially distanced himself from Cîroc and embraced UK personality Charlie Sloth’s Au Vodka, proclaiming it the “number one” vodka. Diddy made this declaration backstage during his recent London show at the O2 Shepherds Bush Empire on Tuesday night, where…
Despite the recent bankruptcy filing by JKN Global Group, the owner of the Miss Universe Organization, this year’s Miss Universe pageant is set to proceed as planned. The Thai media distribution company, which acquired the pageant in 2022 for $20 million, recently submitted a petition for “business rehabilitation,” accepted by Thailand’s bankruptcy court. In an…
Heinz, the renowned ketchup brand, is set to introduce an unconventional condiment to its lineup, combining the classic taste of ketchup with the tangy essence of pickles. Named “Pickle Ketchup,” the innovative flavour is scheduled to hit grocery store shelves in early 2024. The new condiment promises to blend the “tangy and savory flavour” of…
Renowned artist Kehinde Wiley, celebrated for his iconic official portrait of former US President Barack Obama, has revealed a decade-long secret project centred around painting African heads of state in his distinct artistic style. Wiley’s latest collection, “A Maze of Power,” which features 11 portraits, marks his odyssey across the African continent, crafting representations of…
Elon Musk, the owner of X (formerly Twitter), unveiled the arrival of “Grok,” an artificial intelligence-powered chatbot with a penchant for sarcasm, akin to Musk’s own sense of humor. Musk shared the news late Saturday, indicating that Grok is in its initial phases of training, with access to real-time information from the platform, facilitated by…
Warner Bros. Discovery revealed a record-breaking $1.5 billion in revenue generated by the blockbuster movie “Barbie.” Despite this success, the company faced a substantial loss of $417 million for the quarter, surpassing expectations on Wall Street. However, when considering certain adjustments for items like interest, taxes, depreciation, and amortization, the company managed to report a…
The enchantment of Disney has faced challenges this year, casting shadows on the entertainment giant’s path. Having recently celebrated its centennial, Disney, over the last hundred years, has transformed into one of the world’s largest publicly traded media and entertainment companies, boasting a market cap exceeding $150 billion. Despite these monumental achievements, the House of…
American company Pizza Hut in Hong Kong has launched a novel and unconventional pizza that includes a distinctive ingredient – snake meat – bringing a modern twist to traditional flavors and local culinary customs. The pizza, a collaborative creation between Pizza Hut and Ser Wong Fun, a long-established Hong Kong restaurant dating back to 1895,…
