SYDNEY, AUSTRALIA: Rewardle Holdings Limited (ASX:RXH) entered into a binding Term Sheet with Cache Investments Ltd to acquire the distribution rights for the Upstreet Fund. The Fund was established for Upstreet, an Australian fintech founded in 2019 out of the Antler venture capital accelerator program. Upstreet is the promoter/distributor of the Fund and Cache is…
Karen Frøsig to retire as Sydbank CEO in 2024
Sydbank has announced that its CEO, Karen Frøsig, will step down from her position in 2024. Karen Frøsig joined Sydbank in 1994 as Chief Legal Adviser and became a member of the Group Executive Management in 2008. She has been the CEO of Sydbank since 2010. The Board of Directors has already found a successor…
CEO of Green Critical Minerals to step down
SYDNEY, AUSTRALIA: Green Critical Minerals Limited (GCM), a company that explores and develops mineral projects, has announced that its Chief Executive Officer, Mr Mark Lynch-Staunton, will leave his role by the end of September 2023. Mr Lynch-Staunton has decided to focus on personal matters and will hand over his responsibilities to his successor. The Board…
Bidstack to partner with VST for sports game advertising
LONDON, UK: Bidstack Group Plc, the in-game brand activation platform, has announced that it has agreed to a non-binding heads of terms with Virtual Sport Technology Limited (VST), a sports marketing agency, for a multi-year licensing agreement. The agreement, subject to contract, would allow VST to use Bidstack’s technology to enable sports leagues and teams…
Pennsylvania American Water agrees to acquire Appalachian Utilities
Pennsylvania American Water has agreed to acquire Appalachian Utilities Inc. Under the terms of the transaction, an affiliate of Pennsylvania American Water will merge with Appalachian and, subsequently, Appalachian will merge into Pennsylvania American Water. Appalachian is a private, investor-owned system serving approximately 1,450 customers in Avis Borough, Pine Creek Township, and Dunnstable Township, Clinton…
Epic Games to cut 16% of workforce, sell Bandcamp and spin off SuperAwesome
Also Read: Disney buys $1.5bn stake in Epic Games with plans for ‘expansive’ Fortnite universe Epic Games, the maker of Fortnite and Unreal Engine, announced that it will lay off around 830 employees, or 16% of its staff, as part of a restructuring plan to achieve profitability and focus on its metaverse ambitions. The company…
Artificial Intelligence set to surpass internet: Altimeter Capital CEO Brad Gerstner’s predicts
New York City: In a high-profile appearance at the CNBC Delivering Alpha Investor Summit in New York City, Altimeter Capital’s Chair and CEO, Brad Gerstner, delivered a resounding declaration that artificial intelligence (AI) is poised to outshine the internet in terms of impact and significance. “AI is going to be bigger than the internet, bigger…
Nexusflow raises $10.6M to bring generative AI to cybersecurity
Nexusflow, a startup that aims to help security teams make sense of cybersecurity data using generative AI, announced today that it has raised $10.6 million in a seed round of funding. The round was led by Point72 Ventures, with participation from Fusion Fund and several AI experts in Silicon Valley. The startup, which was founded…
UPS to buy MNX Global Logistics for healthcare expansion
UPS, the world’s largest package-delivery company, has announced that it will acquire MNX Global Logistics, a specialist in time-critical logistics for the healthcare industry and other sectors. The deal, which is expected to close by the end of the year, will enhance UPS’s ability to provide customers with “time-sensitive, often life-impacting logistics solutions,” the company…
Saudi Aramco makes first global LNG investment
Saudi Aramco, the world’s largest oil producer, has announced its first international investment in liquefied natural gas (LNG), a move that signals its ambition to diversify its energy portfolio and reduce its carbon footprint. The state-owned company said on Thursday that it would buy a minority stake worth $500 million in MidOcean Energy, a US-based…
IOG plc to enter administration after failing to secure additional funding
LONDON, UK: IOG plc, an oil and gas company listed on AIM, has announced that it will be placed into administration after failing to secure additional funding from its bondholders. The company, which operates assets in the UK North Sea, said that it had filed a notice with the Court today notifying its intention to…
Meta unveils new mixed reality headset, smart glasses and AI chatbots at Connect Event
Meta Platforms Inc (NASDAQ:FB) announced a slew of new products and features at its Connect developer conference on Wednesday, including the Quest 3 mixed reality headset, Ray-Ban smart glasses and a series of AI chatbots. The event, which was held in Menlo Park, California, showcased Meta’s vision for the future of social interaction and immersive…