Australia recently announced that it had decided to drop its legal battle against Elon Musk’s company, X, concerning the posting of graphic footage of a church stabbing in Sydney. The controversy surrounding this issue was widely viewed as a test case for the Australian government’s ability to enforce online safety standards on social media platforms.
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Financial technology startup Nium recently announced a $50 million fundraising round, with plans to go public within the next 18 months. The round was led by a Southeast Asian sovereign wealth fund and supported by venture capital firms BOND, NewView Capital, and Tribe Capital. Despite the significant amount raised, Nium’s valuation now stands at $1.4
Scorpion Capital’s recent investigative report on Lasertec Corp (TYO:6920) has sent shockwaves through the investing world. The report boldly accuses Lasertec of engaging in fraudulent activities to inflate revenue, margins, and earnings. According to Scorpion Capital, Lasertec’s accounting practices represent one of the largest corporate frauds in Japanese history, with a market cap of $23
The Asian stock market experienced a boost on Wednesday. This was mirrored by a stable performance of the dollar amidst concerns about a potential interest rate cut by the Federal Reserve in September. Despite this positive trend, apprehensions about a slowdown in the U.S. economy limited risk appetite among investors. In Asia, the focus was
The recent report showing a fall in job openings to a three-year low has caused a shift in the U.S. stock market. As of late, the Dow Jones Industrial Average rose by 203 points, reflecting a 0.5% increase, the S&P 500 gained 0.3%, and the NASDAQ Composite added 0.3%. This unexpected decline in job openings
Broadway box office numbers have remained relatively stable as the industry transitions into the post-Memorial Day summer season. Despite a slight decline in ticket sales from the previous week, the 35 productions collectively grossed $33,662,845 for the week ending June 2nd. This represents a 5% decrease from the previous week, but an 8% increase compared
Bath & Body Works recently experienced a significant drop in their stock price, with a 14% decline marking their worst day since 2021. This decline followed the release of first-quarter earnings and revenue that beat estimates, however, the company offered a disappointing outlook for the second quarter. With earnings expected to be lower than anticipated,
In May, Ford Motor’s U.S. new vehicle sales witnessed an 11.2% increase compared to the previous year. The surge was primarily driven by a significant uptick in sales of all-electric and hybrid models. Specifically, Ford reported a remarkable 65% growth in both hybrid and all-electric vehicle sales during the month, far exceeding the 5.6% rise
The leadership team at Paramount Global recently presented a go-forward plan at their annual shareholder meeting, outlining strategic priorities in the event that a sale of the company does not happen. The plan, presented by the “Office of the CEO” comprised of CBS CEO George Cheeks, Paramount Media Networks CEO Chris McCarthy, and Paramount Pictures
Cisco’s ThousandEyes internet monitoring unit recently introduced cutting-edge artificial intelligence-powered capabilities designed to significantly enhance the prediction and diagnosis of internet outages and disruptions. The latest AI technology, known as Digital Experience Assurance (DXA), equips customers utilizing Cisco’s networking technology with the ability to proactively address network quality issues automatically. This marks a significant shift
As global investors continue to monitor economic data around the world, Asian share markets have seen mild weakening. This shift comes as manufacturing activity in the United States, the world’s largest economy, has shown signs of further deterioration. While MSCI’s index of Asia-Pacific shares outside Japan experienced a slight decline of 0.1%, it is important
Recent reports suggest that Paramount and Skydance have reached an agreement to merge their operations. This merger, spearheaded by David Ellison’s Skydance and backed by private equity firms RedBird Capital and KKR, could potentially reshape the landscape of the entertainment industry. The negotiations have been intensive, with both parties working towards finalizing the terms of
The pre-market trading session has revealed a significant surge in GameStop’s stock, with a remarkable over 77% increase. This surge comes amid speculation that Keith Gill, famously known as Roaring Kitty, holds a stake in GameStop worth $116 million. On the other hand, AMC Entertainment has also seen a notable rise of about 25% in
Monzo, a prominent British digital challenger bank, recently made headlines by announcing its first full year of profitability. According to the fintech startup’s annual financial report, it recorded pre-tax profits of £15.4 million ($19.6 million) in the 2023-2024 fiscal year. This achievement marked a significant turnaround from the previous year, where Monzo suffered a loss