(Brands & Consumers)
In a surprising turn of events, Tencent, a leading player in the global online gaming market, experienced a substantial market value loss of approximately $43.5 billion on Friday following the unveiling of new regulatory guidelines by China. The draft rules, presented by China’s National Press and Publication Administration, sent shockwaves through financial markets, impacting shares…
As concerns over iPhone thefts and subsequent identity thefts persist, Apple has introduced a new security feature in the upcoming iOS 17.3 beta. The anti-theft feature, known as Stolen Device Protection, aims to enhance the security of iPhones by restricting certain functions behind Face ID or Touch ID, providing an extra layer of defence against…
Renowned billionaire Len Blavatnik has decided to suspend donations to Harvard University through his family foundation, following what is described as President Claudine Gay’s problematic testimony before Congress. The move comes as Blavatnik urges Harvard to address concerns related to antisemitism on campus, with a specific focus on ensuring the protection of Jewish students. Blavatnik,…
In response to safety concerns raised by the National Highway Traffic Safety Administration (NHTSA), Tesla is recalling more than 120,000 vehicles in the United States over potential risks related to unlocked doors during a crash. The safety recall specifically applies to certain Model S and X vehicles manufactured between 2021 and 2023, as outlined in…
In a significant indication of shifting consumer behaviour and concerns over a slowdown in spending worldwide, Nike, a prominent economic indicator, has revised its revenue outlook downward for the year. The sportswear giant is now implementing substantial cost-cutting measures, aiming to achieve up to $2 billion in savings over the next three years, which will…
In a landmark case, an 18-year-old hacker linked to the notorious international group Lapsus$ has been handed an indefinite hospital order after leaking clips from the highly anticipated Grand Theft Auto 6 (GTA 6). Arion Kurtaj from Oxford, diagnosed with autism, played a pivotal role in Lapsus$’s cyberattacks on major tech entities like Uber, Nvidia,…
In a significant development, Boeing has successfully delivered a 787 Dreamliner directly to a Chinese airline for the first time since November 2019. The milestone marks a potential opening for further deliveries, including Boeing’s high-performing 737 Max, which has faced a halt in shipments to China for nearly five years. The Boeing 787-9, destined for…
In a surprising turn of events, Universal Studios has dethroned Disney in the animation realm, and their latest release, “Migration,” aims to solidify their newfound dominance. The comic tale, which opened last Friday, follows a family of New England ducks on an unexpected journey from their pond to New York City, with Universal anticipating a…
Adobe’s ambitious pursuit of a $20 billion acquisition of Figma, a rising star in web-based interface design, has come to an abrupt halt due to regulatory challenges in the European Union. The antitrust scrutiny, driven by concerns over market competition, proved insurmountable, leading Adobe to abandon its efforts to absorb its innovative competitor. Negotiations between…
In a surprising turn of events, a buyer of a new Tesla Model Y found themselves grappling with a $14,000 repair bill less than 24 hours after the purchase, shedding light on potential quality issues within the automaker. Shreyansh Jain recounted his ordeal to Reuters, revealing that his Model Y, acquired for $55,000 with only…
In an end-of-year message to Wayfair employees, CEO Niraj Shah has urged the workforce of the online furniture company to embrace longer work hours and integrate their professional and personal lives. Shah’s note, celebrating the company’s recent success, emphasizes the value of hard work and the fulfilment derived from tangible results. “Winning requires hard work….
In a significant move for English Premier League soccer club Manchester United, billionaire Sir Jim Ratcliffe, the British petrochemical tycoon, has successfully purchased a 25% stake in the renowned football club. The acquisition was officially confirmed by both Manchester United and Ratcliffe-controlled INEOS, a London-based multinational conglomerate. INEOS released a statement outlining that Ratcliffe would…
In the aftermath of Microsoft’s acquisition of Activision Blizzard King, Sony foresees a challenging future, projecting a significant financial setback of $1.5 billion by 2027. The tech giant perceives Microsoft’s strategic move as a potential game-changer that could propel it ahead of Sony in the fiercely competitive console market. Sony had vehemently opposed the merger…
Sony’s PlayStation 5 has achieved a significant milestone, surpassing the 50 million units sold mark since its launch in November 2020. The latest sales figures position the PS5 among the top 15 best-selling video game consoles of all time, with Sony Interactive Entertainment expressing confidence in its potential to eventually outpace its predecessor, the PlayStation…
In response to a potential safety concern, Toyota has issued a recall affecting approximately 1 million cars and SUVs in the United States. The recall is prompted by a defect that could lead to the failure of the passenger airbag to deploy in the event of a crash. The recall encompasses 15 different models from…
In a significant development for the media industry, Chief Executives David Zaslav of Warner Bros. Discovery and Bob Bakish of Paramount Global engaged in discussions about a possible merger between the two entertainment giants. The potential alliance, if realized, would bring together Warner Bros. and Paramount studios, along with prominent media assets such as CBS,…
In the aftermath of a ransomware attack on Insomniac Games, a Redditor has uncovered internal documents shedding light on the success of Sony’s former PlayStation exclusives after they transitioned to the PC platform. The leak, consisting of over 32 internal documents from Insomniac Games, unveils insights ranging from concept art to financial reports. One leaked…
Recent leaks from industry insiders suggest that Microsoft is contemplating breaking away from the traditional console release timeline and launching its next-generation Xbox earlier than anticipated. While both Sony and Microsoft have historically synchronized the release of their gaming consoles, new information hints at Microsoft deviating from this pattern, potentially introducing a new Xbox as…
Mercedes-Benz has broken new ground by adding a unique colour to its car lights, making turquoise blue the official hue for indicating when a Mercedes vehicle is operating in self-driving mode. This development comes after gaining approval exclusively in California and Nevada, the only states where Mercedes’ “conditionally autonomous” Drive Pilot technology is legally permitted….
In a landmark antitrust settlement, Google has committed to pay $700 million and introduce measures to foster more competition in its Play app store. Filed in federal court on Monday, the settlement resolves long-standing accusations that Google hindered competition through its app store terms and fees. Approximately 102 million U.S. consumers stand to benefit from…
In a bid to challenge Apple’s upcoming Vision Pro mixed reality headset, Samsung is reportedly accelerating the launch of its own mixed reality device, the ‘Galaxy Glass.’ Originally scheduled for the end of 2024, the South Korean tech giant is now aiming for an early release in the first half of next year, as per…
Chinese laptop manufacturer Zhanjiang Xinjuneng has introduced the REV-9, a powerhouse laptop that prioritizes raw computing power over sleek design. Touted as the first laptop featuring a 64-core CPU, the REV-9 boasts an AMD Epyc CPU, a full liquid cooling system, and a desktop-class RTX 4080, making it a formidable contender for users seeking unparalleled…
Amazon is gearing up to revolutionize internet connectivity in space through its Project Kuiper, deploying cutting-edge laser technology for satellite-to-satellite communication. The successful prototype tests have paved the way for Amazon to introduce a commercial-grade broadband service in space, with the constellation utilizing lasers to ensure a high-speed, error-free connection across the globe. In a…
In a landmark resolution, video game giant Activision Blizzard and the California Civil Rights Department (CRD) have reached a settlement in a gender discrimination lawsuit, amounting to approximately $54 million. This settlement ranks as the second-largest negotiated by the CRD, underscoring the gravity of the allegations. The lawsuit, filed two years ago, accused Activision Blizzard…
In celebration of pop art legend Roy Lichtenstein’s 100th birthday and his impactful contribution to the Art Car program, BMW M Motorsport and Puma have collaborated on a limited-edition clothing collection. The exclusive ensemble draws inspiration from Lichtenstein’s renowned 1977 BMW 320i Turbo racer, a distinctive Art Car that left an indelible mark on the…
As the year concludes, investors are contemplating their investment strategies for 2023, seeking a balance between stability and returns. While the iconic beverage giant Coca-Cola (KO) offers a renowned brand and stability, questions arise about its ability to deliver substantial returns compared to broader market options. Coca-Cola’s reputation as a quality enterprise is rooted in…
Ride-hailing giant Uber is set to make waves on Wall Street as it joins the prestigious S&P 500, reaching a new 52-week high last week in anticipation of its debut in Monday trading. Uber’s inclusion in the S&P 500, announced by S&P Dow Jones Indices on December 4, reflects the company’s remarkable turnaround under CEO…
PepsiCo, the global food and beverage giant, is set to invest $13 million in a state-of-the-art production line at its soft drinks factory in Dragomirești, Romania, as part of the company’s ambitious development plans for the region. The investment aims to install a “modern, fully-automated production line” at the facility in northern Romania, significantly enhancing…
Golf enthusiasts who have witnessed Tiger Woods donning Nike gear for the past 27 years may have witnessed an iconic era coming to a close. The golf legend’s enduring partnership with Nike, particularly highlighted by his famous red and black Sunday outfit, faces uncertainty as his current deal with the athletic giant is set to…
TikTok, the platform that gained immense popularity for its short-form video content during the Covid-19 pandemic, is causing a stir among creators as it transitions toward longer video formats. The move marks a departure from its original short-form approach that set it apart in the social media landscape. Starting this Saturday, TikTok will phase out…
As Apple gears up for 2024, the tech giant is set to significantly emphasise its wearables business, signalling a shift away from the traditional iPhone-centric approach. Among the key areas of attention is the popular AirPods lineup, which has prompted the company to address potential confusion among consumers. Mark Gurman of Bloomberg highlights the need…
The divisive Evolved Suit worn by Miles Morales in Marvel’s Spider-Man 2 has been a focal point of discussion among fans, but recent revelations have clarified that the controversial design was primarily crafted by Insomniac rather than Adidas, debunking previous assumptions. In the final stages of Spider-Man 2, Miles Morales undergoes a significant costume change…
Volkswagen, once poised to lead the electric vehicle (EV) market, is facing significant challenges as it falls behind Tesla and emerging Chinese competitors. Initial ambitions to become the top manufacturer of battery-powered vehicles by the mid-2020s have not materialized, with the Volkswagen Group, including Audi and Porsche, selling less than half of Tesla’s 1.31 million…
General Motors (GM) is set to cut approximately 1,300 jobs across two of its Michigan plants, the Orion Assembly and Lansing Grand River Assembly, according to WARN notices filed with state regulators. The job reductions, scheduled for the new year, follow GM’s October announcement of delaying the production of electric pickup trucks until 2025. The…
In a recent development, the Canadian government has decided to increase the proof of funds required for international students, including Nigerians, seeking study permits. The adjustment will see the proof of funds double, rising from ₦8,025,000.00 ($10,000) to ₦16,050,000.00 ($20,000). This policy change is scheduled to take effect on January 1, 2024. Marc Miller, the…
An ex-employee of Facebook, now Meta, has entered a guilty plea after being accused of stealing over $4 million from the social media giant. Barbara Furlow-Smiles, formerly the lead strategist and global head of employee resource groups and diversity engagement, admitted to fraudulent activities during her tenure from January 2017 to September 2021. The guilty…
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…
