LONDON: Rio Tinto has settled a lawsuit with the SEC over its disclosure of the value of Rio Tinto Coal Mozambique (RTCM) in its 2012 financial statements. The SEC had accused Rio Tinto of violating its accounting and reporting rules related to the impairment of RTCM, which Rio Tinto bought in 2011 and sold in…
Verta launches GenAI Workbench to simplify generative AI app development
Verta, a company that specializes in AI model management and operations, has announced the launch of its GenAI Workbench, a platform that aims to help developers create and refine custom generative AI (GenAI) applications. GenAI is a branch of AI that uses large language models (LLMs) to generate text, images, audio, or code from natural…
Olive AI, a healthcare automation company, to sell its assets in two online auctions
Olive AI, a company that provides artificial intelligence solutions for the healthcare industry, has announced that it will be selling its assets in two online auctions conducted by Silicon Valley Disposition (SVD), a global leader in asset management and repurposing solutions. The company, which raised over $840 million and was valued at $4 billion, is…
Sproutly nears Apollon Formularies acquisition, due diligence completed
LONDON, UK: Sproutly Canada and Apollon Formularies have announced the completion of their due diligence. Sproutly, a Canadian company that specializes in natural cannabinoids, terpenes, and mushroom compounds, is poised to acquire all global assets of Apollon, a UK-based company that focuses on natural biologics drug discovery, integrating cutting-edge artificial intelligence (AI) technology. The transaction,…
FGS Global acquires Canadian communications & public affairs advisory, Longview
LONDON: FGS Global has acquired the leading Canadian communications and public affairs advisory firm Longview Communications and Public Affairs. The acquisition further strengthens FGS Global’s well-established capability and expertise in strategic advisory and communications, helping clients to navigate reputational challenges in an increasingly complex stakeholder, financial, regulatory and political environment. Longview will operate as FGS…
OpenAI faces turmoil and legal threats; Sam Altman restored as CEO
OpenAI restores Sam Altman as CEO after his tumultuous ouster OpenAI, the artificial intelligence company behind the popular ChatGPT service, is in a state of crisis after its board of directors fired its co-founder and CEO Sam Altman last week. The move has triggered a backlash from investors, employees, and customers, who are questioning the…
Comms Group Limited announces strong performance and strategic review at AGM
SYDNEY, AUSTRALIA: Comms Group Limited (ASX: CCG), a leading provider of cloud communications solutions for global businesses, held its annual general meeting (AGM) on Tuesday, November 21, 2023. The company’s CEO, Peter McGrath, delivered a positive update on the company’s performance and outlook, as well as the progress of the strategic review initiated by the…
SciDev CEO Seán Halpin outlines growth strategy and reports strong Q1 results
SYDNEY, AUSTRALIA: SciDev, a leading provider of water treatment and chemical solutions, has announced its future outlook and financial highlights for the first quarter of FY24 at its annual general meeting. The company’s CEO, Seán Halpin, said that SciDev is well positioned to continue to grow its operational and financial footprint across FY24, with a…
GIB-Saudi Arabia partners with Eayni Recycling Association to recycle bank’s waste
AL-KHOBAR: Gulf International Bank – Saudi Arabia (GIB) has announced a collaboration with Eayni Recycling Association Cooperative, a local waste management company, to recycle the bank’s waste in Al Khobar, Riyadh and Jeddah. The agreement is part of GIB’s sustainability drive and effort to reduce its environmental impact. Eayni will collect and recycle all plastics,…
OSN buying majority stake in Anghami to create region’s largest streaming platform
KUWAIT: OSN, a subsidiary of KIPCO and the leading pay-TV network in the MENA region, has announced a deal to merge its premium content streaming platform, OSN+, with Anghami, the region’s leading music and entertainment streaming platform. The deal will be backed by an investment of up to US$50 million (KD 15.4 million) from OSN…
TotalEnergies launches in-depot charging for electric trucks
PARIS, FRANCE: TotalEnergies announced today at the SOLUTRANS road and urban transportation trade show that it has launched a new service for electric truck charging in depots. This service will help transporters switch to electric mobility by providing them with customized charging infrastructure that meets their needs. TotalEnergies has designed an in-depot charging service that…
India approves 27 international companies to make IT hardware under incentive scheme
India has given the green light to 27 companies, including U.S. tech giants Dell, HP and China’s Lenovo, to manufacture IT hardware in the country under a production-linked incentive (PLI) scheme. The scheme aims to boost domestic manufacturing and attract large investments in the value chain of IT hardware products. The PLI scheme for IT…