Business

It’s official! In what could go down as one of the biggest deals in the history of tech business acquisitions, American chipmaker, Broadcom has concluded plans to acquire VMware in a $61 billion cash-and-stock deal. The deal falls behind Dell’s $67 billion EMC deal and Microsoft’s pending acquisition of Activision Blizzard for $68.7 billion but…

American sport giant, Nike is on the verge of pulling its brand out of Russia following its stand not to renew Nike’s agreements with authorised resellers in Russia.This is coming at a sensitive time as contracts between two of Nike’s largest authorised Russian retailers is set to expire in less than 24 hours (on May…

Have you ever cast your mind on the specific mobile phone that American business magnate, billionaire and co-founder of Microsoft, Bill Gates uses? The cat has finally been let out of the bag and the mobile phone that Bill Gates used everyday is not an iPhone or even a mobile device made by his own…

WhatsApp is finally planning to drop support to a few more iOS devices soon, as the company will no longer work with iPhones running iOS 10 and iOS 11 starting later this year. Here’s what you need to know. According to WABetaInfo, the company is now warning iPhone users running iOS 10 or iOS 11…

The average U.S. price of regular-grade gasoline spiked 33 cents over the past two weeks to $4.71 per gallon. Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday that the price jump comes amid higher crude oil costs and tight gasoline supplies. The average price at the pump is $1.61 higher than it was…

Tesla CEo, Elon Musk has said that Twitter refuses to explain how they calculate bots and called it ‘very suspicious.’ Musk suggested Saturday that his agreement to purchase Twitter for $44 billion and take it private should be cut proportionate to the number of bots on the platform. Musk tweeted “Absolutely” in response to from…

Goodbye iPod, hello Eyes Pod. According to a report by Bloomberg’s Mark Gurman, Apple has demonstrated a new Apple-made VR headset to its board. Such a product has been rumored for a while and has reportedly been in development at Apple since 2015. We don’t yet know what it looks like or much about its…

A former employee has accused Wells Fargo of scheduling fake interviews with black and female candidates for roles that were already filled in order to boost the bank’s diversity statistics.   Former Wells Fargo wealth management executive Joe Bruno, 58, claims he was fired last August after he blew the whistle to his bosses about the…

Mercedes-Benz confirmed on Thursday that it recently sold the world’s most expensive car. A very rare 1955 Mercedes-Benz SLR coupe that had been kept in the German automaker’s collection was sold to a private owner for €135 million, the equivalent of $142 million. That price makes it the most expensive car known to ever have…

There are 300,000 edible plant species but in 2018, just four crops made up half of global production, and three — rice, maize, and wheat — accounted for 86% of all exports. Christoph Langwallner, co-founder and CEO of WhatIF Foods, wants to change that. His startup is on a mission to diversify the food system…

The Scout, a one-time competitor to Ford Broncos and Jeeps that was last sold more than four decades ago, is being resurrected by Volkswagen as a line of all-electric trucks and SUVs. Scout will become its own separate brand offering off-road-oriented electric trucks and SUVs in North America. A Scout SUV and pickup truck are…

Coke knows that its soda caps often end up as litter. So it’s trying to solve the problem by tethering them to the bottle, at least in the United Kingdom. Earlier this week, the British arm of the beverage company announced that it has started rolling out new versions of its plastic bottles. The new…

Mike Novogratz broke his silence on the TerraUSD meltdown, calling it a “big idea that failed” and warning that the tough environment for cryptocurrencies will continue. The founder of Galaxy Digital Holdings Ltd. and big backer of Terraform Labs, the company behind Terra and Luna, had gone silent for a week. Novogratz spent the time…

Melvin Capital, once one of Wall Street’s most successful hedge funds which then lost billions in the meme stock saga, will shut down after it was hit again by this year’s market slump. Gabe Plotkin, widely regarded as one of the industry’s best traders after posting years of double digit returns, told investors that the…

Who wants to own Twitter? Maybe Elon Musk doesn’t. Sure, maybe he is causing chaos to extract a lower price from the Twitter board, but he just as well may walk away altogether and create a Twitter clone. There is a “60%+ chance from our view Musk ultimately walks from the deal and pays the…

Apple has delayed plans to bring workers back to the office three days a week as COVID cases in its home state of California surged once again.   The tech company blamed recent Covid-19 surges in California for the delay of the three day a week requirement. Workers must still come in two days a week,…

Nestlé is rushing baby formula into the United States via airfreight in a bid to ease a nationwide shortage that is unnerving parents around the country. In a statement to CNN on Tuesday, Nestlé said it is flying in some baby formula produced outside the United States, including Gerber Good Start Extensive HA from the…

Britain’s Queen Elizabeth II made a surprise public appearance at the opening of a long-awaited train line in London on Tuesday. The monarch, walking with a stick, wore a bright yellow outfit and hat at Paddington station, in west London, to open the Elizabeth line, which is named in her honor. She was given a…

The US has warned that IT workers from North Korea are trying to get remote working jobs by hiding their true identities for the purpose of stealing money for Pyongyang. Many of them pretend to be from other parts of Asia, according to three US government agencies. They are allegedly helping to fund North Korea’s…

Twitter CEO Parag Agrawal and Elon Musk are engaged in a debate over an issue Musk has made central to his proposed purchase of the platform — spam. In a series of tweets on Monday, Agrawal laid out Twitter’s approach to spam accounts and its challenges dealing with them. Twitter (TWTR) suspends “over half a…

Two prominent lobbying groups representing the tech industry’s biggest companies are asking the US Supreme Court to step in and block a Texas law that lets the state’s residents sue large social media platforms for alleged censorship, two days after a federal appeals court allowed the law to take effect. The Computer & Communications Industry…

China’s retail and factory activity fell sharply in April as wide COVID-19 lockdowns confined workers and consumers to their homes and severely disrupted supply chains, casting a long shadow over the outlook for the world’s second-largest economy. Full or partial lockdowns were imposed in major centres across the country in March and April, including the…

Skyrocketing natural gas prices have raised manufacturing and transportation costs across many U.S. industries, and the situation should persist as the United States exports more gas to Europe to make up for Russian supplies lost to sanctions. U.S. natural gas futures have doubled this year, far more than the increases in retail gasoline and diesel…

India, the world’s second largest producer of wheat, has banned all exports with immediate effect after a heatwave affected the crop. A notice in the government gazette by the directorate of foreign trade, dated Friday, said a rise in global prices for wheat was threatening the food security of India and neighbouring and vulnerable countries….

SMBC Aviation Capital, one of the world’s biggest aircraft lessors, is nearing a deal to acquire smaller rival Goshawk for about $7 billion, including debt, people familiar with the matter said on Friday. The deal between the two privately held, Dublin, Ireland-based lessors could be announced as soon as next week, the sources said, speaking…

Ford Motor Co sold 7 million shares of electric carmaker Rivian Automotive Inc for about $188.2 million, or $26.88 apiece, the U.S. automaker said in a filing on Friday. Ford now holds 86.9 million shares in the California-headquartered company. Rivian is struggling in a competitive market, including competition from Ford’s F-150 Lightning electric pickup truck,…

Perrigo Company PLC (PRGO.N), which makes store-brand baby formulas for retailers, including Walmart Inc (WMT.N) and Amazon.com Inc (AMZN.O), expects shortages and heightened demand to last for the “balance of the year,” Chief Executive Murray Kessler told Reuters in an interview. The Biden administration this week has come under increasing pressure to address a baby…

Tesla Inc (TSLA.O) has put on hold plans to sell electric cars in India, abandoned a search for showroom space and reassigned some of its domestic team after failing to secure lower import taxes, three people familiar with the matter told Reuters. The decision caps more than a year of deadlocked talks with government representatives…

Wall Street rallied on Friday, ending a week of wild market gyrations marked by signs of peaking inflation and worries that the Federal Reserve might tighten policy too aggressively. Rebounding megacap tech and tech-adjacent growth stocks led the market higher. These shares thrived when interest rates were low and Fed policy accommodative during the pandemic,…

Apple’s iPod creator has warned the so-called metaverse risks creating more trolls and damaging human interaction. The virtual reality-based metaverse removes the ability “to look into the other person’s face,” Tony Fadell said. “If you put technology between that human connection that’s when the toxicity happens,” he said. The metaverse is a virtual reality realm…

Elon Musk has said his $44bn (£35bn) deal to buy Twitter is on hold after he queried the number of fake or spam accounts on the social media platform. He said he was waiting for information “supporting [the] calculation that spam/fake accounts do indeed represent less than 5% of users”. Mr Musk added later that…

Heinz is creating a brand new ketchup bottle made from paper and plans on being the first ever sauce brand to have completely renewable packaging.  In partnership with Pulpex, who also created a paper bottle for whisky brand Johnnie Walker, the condiment company want to make all their packaging recyclable, reusable or compostable by 2025….

Ever since he founded Twitter, Jack Dorsey remained as the company’s CEO for many years until the board ousted him. He was battling against members of that board over a wide variety of reasons that ultimately ostracized him from the high seat at the table. Although he’s remained as an important share holder from the…

It’s a sad day for cryptocurrencies and Bitcoin. Bitcoin fell below $26,000 for the first time in 16 months, part of a larger sell-off in cryptocurrencies that wiped out more than $200 billion from the market in a single day. According to Coin Metrics, the price of bitcoin fell to $25,401.29 on Thursday. This is…

The battle line appears to be drawn as FIFA takes on EA Sports video game in soccer’s new rivalry. For three decades, the Switzerland-based soccer body, FIFA has enjoyed a flourishing, mutually beneficial relationship with EA Sports. The annual edition of the video game, alongside related products, has raked in billions of dollars and has…

In light of receiving more than 100 fines dished out to people working in Downing Street for Partygate breaches of Covid laws, Scotland Yard revealed today.  In the first update in a month, detectives working on the Operation Hillman probe into boozy gatherings in the corridors of power have doubled the number of fixed-penalty notices…

More Americans are feeling financially strained as the prices of basic necessities keep climbing. At the moment, inflation is showing no signs of slowing down, making it harder for workers to make ends meet. The Consumer Price Index increased 8.3% from a year ago, higher than the 8.1% estimate, according to the U.S. Bureau of…

The inflation rate in Germany hit 7.4% year-on-year in April, up from 7.3% in March, official data showed on Wednesday. “The inflation rate thus reached an all-time high for the second month in a row since German reunification,” Georg Thiel, president of the Federal Statistical Office (Destatis), said in a written statement, Anadolu News agency…

The US consumer price index (CPI), a broad-based measure of prices for goods and services, was released on Wednesday, showing that prices rose 8.3% in April. Officials hope soaring inflation might be slowing down, even as households continue to feel the pain, The Washington Post reports. Still, inflation has been the single biggest threat to…

Cryptocurrency market cap has crashed further as Bitcoin and several other top crypto prices hit new lows. The global crypto market cap is now just $1.38 trillion, a 6.44% decrease in the last 24 hours. The Bitcoin price has again fallen below $31,000 level. At the time of this report, Bitcoin price was $30,621, which…

We know for a fact that Apple’s iPhone 14 line-up will be launched around October 31, 2022. While details of the phone’s specifications and new features have been circulating on the Internet, we will have to wait longer for Apple to come out with the official details. However, news cycles are replete with leaks on…

Hiring in the US remained strong in April despite concerns that fast rising prices and other economic disruption could lead to slowdown. Employers added 428,000 jobs, while the unemployment rate held steady at 3.6%, the Labor Department said. The gains were bigger than expected, marking the 16th month of expansion. The growth is likely to…

These might not be the best times for popular business magnate Elon Musk as his $44 billion buyout of Twitter Inc. has been challenged in a lawsuit by a Florida pension fund that argues the deal can’t close before 2025 because Musk was an “interested shareholder” in the social networking platform. The suit was filed…

Ecobank has launched its Ellevate Leadership Training Programme in partnership with the Global Business School Network (GBSN). The Ellevate Leadership Training Programme forms part of ‘Ellevate Equip’, the brand name for all capability and training support initiatives for Ellevate by Ecobank, the bank’s gender financing programme. This Leadership Training programme is being delivered to an…

On the heels of its announcement in December 2021, Amazon has shut down its popular website research and SEO analysis tool. Alexa was well known within the digital marketing hub for its Alexa Rank score. It should be recalled that in December, Amazon had announced that it would shut down the Alexa rank service in…