TECOM Group, the creator of specialised business districts and vibrant communities in Dubai, reported a record revenue of AED 2.2 billion and a net profit of AED 1.1 billion for 2023, up 10% and 49% respectively from the previous year. The Group attributed its strong performance to robust demand from new and existing customers across…
Tesla CEO Elon Musk loses $55 billion pay package after court ruling
Tesla shareholders have won a landmark legal victory against the company’s CEO Elon Musk and its board of directors, who had granted Musk an unprecedented $55 billion pay package in 2018. The Delaware Court of Chancery has ruled that the pay package was invalid and must be cancelled, saving Tesla stockholders from massive dilution. The…
Deirdre Hanford to lead Natcast, a new center for U.S. semiconductor technology
Deirdre Hanford, a board member of Cirrus Logic, Inc. (NASDAQ: CRUS) since 2018, has been appointed as the CEO of Natcast, a new center for research and engineering in the U.S. semiconductor industry. Natcast, which stands for National Semiconductor Technology Center, is expected to be established under the CHIPS for America program, a federal initiative…
Finexia Financial Group acquires Yield Report, partners with Sequoia
SYDNEY, AUSTRALIA: Finexia Financial Group Ltd (ASX: FNX), a specialist in private credit and funds management, has announced the acquisition of Yield Report Pty Limited, Australia’s leading online news portal for fixed income and yield securities, from Sequoia Financial Group Ltd (ASX: SEQ). The deal, which involves an exchange of 500,000 ordinary shares in FNX,…
Moveworks expands its global presence with new data center in Australia
Moveworks, the leading AI copilot platform for the enterprise, has opened its first regional data center in Australia, following its recent launches in Canada and the EU. The new data center will allow Australian customers to use Moveworks’ natural language-based solutions while complying with data privacy and residency regulations. Moveworks’ CEO said that the company…
The Ultimate Guide to Ecommerce Delivery and Customer Loyalty
Ecommerce has redefined the traditional bricks and mortar retail model, with online stores no longer being considered a “nice-to-have” and instead a “must-have“. With KPMG reporting that the global retail ecommerce market size was estimated to be US$5.5 trillion in 2022, a clear ecommerce model can create a lucrative alternative revenue stream. As ecommerce continues to…
Amphenol Corporation to buy Carlisle Interconnect for $2 billion
Amphenol Corporation, a global leader in high-tech interconnect, antenna and sensor solutions, has agreed to acquire Carlisle Interconnect Technologies (CIT), a major supplier of harsh environment interconnect solutions, for $2.025 billion in cash. The deal, which is expected to close by the end of June 2024, will expand Amphenol’s product portfolio and customer base in…
Boston Metal secures $20M investment from Marunouchi Innovation Partners
Boston Metal, a company that aims to decarbonize steelmaking with its Molten Oxide Electrolysis (MOE) technology, has secured a $20 million Series C2 investment from Marunouchi Innovation Partners, a Tokyo-based venture capital firm. The new funding by Marunouchi Innovation Partners brings the series total to $282 million and will help Boston Metal expand its presence…
AQEMIA raises €60M to boost its AI-powered drug discovery platform and pipeline
AQEMIA, a tech-enabled drug discovery company that uses generative AI and deep physics to find new drugs, has secured an additional €30 million investment, bringing its Series A round to €60 million. The round was led by Wendel Growth and supported by existing investors Bpifrance Large Venture, Eurazeo and Elaia. The funding comes after AQEMIA’s…
UPTIQ acquires Focus Treasury and Credit Solutions
UPTIQ, a leading provider of holistic wealth management solutions, announced today that it has acquired Focus Treasury and Credit Solutions, LLC (FTCS), a subsidiary of Focus Financial Partners Inc., a partnership of independent wealth management firms. The deal will enhance UPTIQ’s AI-enabled technology by integrating FTCS’s client-centric approach to offering cash and credit solutions to…
How Graphite is Powering the Future of Electric Vehicles
Graphite is a key component of lithium-ion batteries, which are widely used in electric vehicles (EVs), smartphones, laptops, and other devices. Graphite is the main material in the anode, the negative electrode that stores and releases electrons during charging and discharging. Graphite accounts for more than 50% of the weight of a typical lithium-ion battery,…
Argentex reports flat revenue and profit, appoints interim CFO
LONDON: Argentex Group PLC, a currency management and payment solutions provider, announced today that its revenue and operating profit for 2023 were unchanged from 2022, at £49.8m and £8.0m respectively. The company said it invested heavily in people, technology and overseas expansion, but faced challenging market conditions and unexpected costs. The company also named Guy…