For the first time in 12 years, Apple has surpassed Samsung as the world’s leading smartphone seller, according to a new report from International Data Corp (IDC). The iPhone maker captured a 20% market share in 2023, while Samsung slipped to 19.4%. The other three spots in the top five were occupied by Chinese brands…
Accenture acquires Impendi to boost its private equity offerings
Accenture, a global professional services company, has announced the acquisition of Impendi, a sourcing and procurement services provider that specializes in serving private equity clients. The deal will enhance Accenture’s ability to help private equity firms and their portfolio companies optimize their sourcing and procurement decisions, achieve cost savings, and improve supplier diversity. Impendi, founded…
McNally Capital sells Re-Sourcing Group to MidOcean Partners
McNally Capital, a private equity firm that invests in founder- and management-owned businesses, has announced the sale of its portfolio company, The Re-Sourcing Group, to MidOcean Partners. The Re-Sourcing Group is a leading provider of strategic staffing, consulting, and direct hire solutions for various industries, serving clients through seven premium brands. McNally Capital partnered with…
Nukkleus to boost stake in Bitcoin ETF sponsor Jacobi
Fintech giant Nukkleus Inc. announced today that it plans to increase its stake in Jacobi Asset Management, the sponsor of Europe’s only Bitcoin spot ETF, to about 20%. The move is part of Nukkleus’ strategy to expand its presence in the innovative financial markets, leveraging its expertise in blockchain and digital asset management. Nukkleus has…
U.K. Business Leaders Optimistic but Cautious amid Economic Challenges
A new survey by J.P. Morgan reveals that U.K. business leaders are confident about their own performance but wary of the global and national economic outlook. While most executives expect revenue and sales to increase in 2024, they also face rising interest rates, inflation, and uncertainty. The survey also shows that the proportion of business…
Nokia to invest €360 million in chip design for 6G and AI
ESPOO, FINLAND: Nokia announced today that it will invest €360 million in software, hardware and chip design at its Ulm and Nuremberg sites in Germany. The investment is part of a four-year project funded by the German government and the states of Baden-Württemberg and Bavaria. The project aims to develop high-performance systems-on-chips based on a…
Houthi attacks disrupt global trade, boost air freight rates
The ongoing Houthi attacks on shipping vessels in the Red Sea have caused a major disruption in global trade, forcing many container ships to take longer routes and driving up ocean freight rates. This has also increased the demand for air freight, as some retailers look for faster alternatives to deliver their goods. According to…
WealthArc and ZeroLink launch AI-powered chat service for wealth data
WealthArc, a Swiss-based provider of wealth data management solutions, has teamed up with ZeroLink, a leader in neurosymbolic knowledge graph technology, to create WealthArc AI & Analytics, a new service that allows users to chat with their wealth data using natural language. The service, powered by ZeroLink’s machine learning platform, enables wealth managers, family offices,…
BYD unveils AI-powered smart car system to boost its edge in EV market
BYD, the world’s largest electric car maker, announced its new Xuanji smart car system on Tuesday, aiming to enhance its competitiveness in advanced technologies such as automated parking and autonomous driving. The Xuanji system, which integrates the AI Large Model with the largest data foundation in the industry, can perceive changes inside and outside the…
Abu Dhabi Commercial Bank expands into the Kingdom of Saudi Arabia
ABU DHABI: Abu Dhabi Commercial Bank (ADCB) is establishing a strategic presence in Saudi Arabia, leveraging its strong balance sheet and sophisticated corporate banking capabilities to support a growing client base, and contribute to the deepening of regional economic relationships. ADCB has received an in-principle approval from the Kingdom’s Council of Ministers and will open…
GSK completes sale of shares in Haleon
LONDON: GSK plc announced that, further to its announcement on 16 January 2024, GSK has agreed to sell 300m ordinary shares in Haleon plc at a price of 326 pence per share, raising gross proceeds of approximately £978m. Following settlement of the placing, GSK will hold approximately 385m ordinary shares in Haleon, representing approximately 4.2%…
Kaspi.kz, a leading fintech company in Central Asia, launches US IPO
LONDON: Kaspi.kz, a joint stock company that operates a digital platform for banking, e-commerce and payment services in Kazakhstan and neighboring countries, announced on Friday that it is launching a roadshow for its U.S. initial public offering (IPO). The company is offering 9 million American depositary shares (ADSs), each representing one common share, to investors…