Roblox, originally a gaming platform and creation service, has transformed into a bustling virtual community. At the annual developer conference, RDC 2023, the company unveiled several exciting updates geared towards enhancing user content creation. In a recent blog post, Roblox disclosed that by the end of June 2023, a staggering 65.5 million users engaged with…
Russia ships first oil cargo to Brazil amid Western sanctions
Russia has found a new market for its crude oil in Brazil, after facing difficulties in selling its fossil fuels to Western countries due to sanctions and price caps. According to Oilprice, the first shipment of 650,000 barrels of Varandey crude oil, a light and sweet blend, left the Murmansk port on an Aframax tanker…
Kroger agrees to sell more than 400 stores to C&S as part of Albertsons merger
To secure regulatory approval for its planned $25-billion acquisition of Albertsons, Kroger announced on Friday that it would sell more than 400 of its grocery stores to C&S Wholesale Grocers. The deal would bring Kroger about $1.9 billion in cash. Kroger said it might also need to divest up to 237 additional stores in some…
AI drug discovery startup Noetik secures $14 million in seed funding
SAN FRANCISCO: Noetik, a pioneering AI drug discovery company headquartered in San Francisco, has achieved a significant milestone by raising $14 million in seed funding. The company is dedicated to advancing precision therapeutics within the field of immuno-oncology, a vital area of cancer treatment. Leading the funding round is DCVC, a well-established venture capital firm…
San Francisco’s Certa raises $35 million in Series B funding to fuel global expansion
SAN FRANCISCO: Certa, the all-in-one third-party management platform based in San Francisco, has successfully secured $35 million in Series B funding, marking a significant milestone in the company’s growth. This oversubscribed funding round has propelled Certa’s total institutional investment to an impressive $50 million. Leading the Series B round were prominent investors, including Fin Capital,…
CLARA Analytics raises $24 million in Series C funding
A Series C funding round of $24 million has been raised by CLARA Analytics, an AIaaS company that helps insurance claims professionals optimize outcomes. The round was led by Spring Lake Equity Partners, a new investor that focuses on technology-oriented companies. The existing investors also joined the round, bringing CLARA’s total funding to $60 million….
UK rejects immigration changes for India trade deal, says PM’s office
LONDON: British Prime Minister Rishi Sunak’s office has ruled out any changes to the UK’s immigration policy as a condition for a free trade agreement with India, according to Reuters. The spokesperson of Sunak said that the prime minister thinks that the current migration levels are too high and that there are no plans to…
Concord Cadence agrees to takeover Round Hill Music Royalty for $468.8 million
LONDON, UK: Concord Cadence Limited has agreed to takeover Round Hill Music Royalty Fund (RHM) at the rate of $1.15/share translating into $468.8 million. Round Hill Music shareholders will receive the dividend of $0.01125 per RHM Share in respect of the quarter ended 30 June 2023 (as announced by RHM on 31 August 2023). In…
MHP SE and Tanmiah Food Company sign deal to boost poultry production in Saudi Arabia
LONDON, UK: MHP SE, a big food and agrotech company from Ukraine, has signed a deal with Desert Hills Veterinary Services Company Limited (DHV), a part of Tanmiah Food Company, a leading poultry and meat producer in the Middle East. The deal will help MHP grow its business internationally and help Saudi Arabia produce more…
Boeing’s CFO warns of reduced MAX deliveries, loss in Q3 due to manufacturing defect
Boeing’s Chief Financial Officer, Brian West, has disclosed that a manufacturing defect discovered last month in the Boeing 737 MAX is expected to have a significant impact on the company’s operations. This defect is likely to reduce the delivery rate of the MAX by approximately one-third, resulting in negative cash flow and a financial loss…
Aldi announces ambitious expansion with 500 new UK stores
Aldi, the discount supermarket chain, revealed its bold strategy to introduce 500 additional stores across the United Kingdom on Thursday. This announcement coincided with the grand opening of the company’s 1,000th store in the town of Woking, Surrey. The decision to expand Aldi’s footprint comes in response to surging demand for the store’s budget-friendly offerings….
Inceptive raises $100 million to revolutionize drug and vaccine design with AI
PALO ALTO: Inceptive, a pioneering startup dedicated to harnessing the power of artificial intelligence for the development of innovative drugs and vaccines, has successfully secured a substantial $100 million in funding. Co-founded by former Google AI researcher Jakob Uszkoreit, a trailblazer in Google’s generative AI efforts, Inceptive is headquartered in Palo Alto. The company’s mission…