LinkedIn, the social media network for professionals owned by Microsoft, announced on Monday that it will be laying off 668 employees. This is the second round of job cuts for LinkedIn this year, and it comes amid slowing revenue growth for the company. The cuts will affect more than 3% of LinkedIn’s 20,000-strong workforce and…
Unlocking the Power: What to Expect from Apple’s M3 MacBook Pro
Apple enthusiasts, brace yourselves! A recent report suggests that the tech giant is gearing up to unveil its latest marvel: the M3 MacBook Pro. While we’ve grown accustomed to Apple’s annual MacBook Pro launches, this one promises to be a game-changer. The M2 Legacy Let’s rewind to 2022 when Apple introduced the world to the…
WeWork names former Blackstone executive David Tolley permanent CEO
WeWork on Monday named interim CEO David Tolley as its permanent CEO, tasking the former Blackstone executive with turning around the flexible workspace provider’s ailing business. Tolley, who was CFO of satellite operator Intelsat from 2019 to 2022, has been a WeWork board member since February 2023 and was interim CEO since May 2023. WeWork,…
Apple to release cheaper mixed-reality headset for $1,500 to $2,500
Apple is working on a more affordable version of its mixed-reality headset, the Vision Pro, according to Mark Gurman’s Power On newsletter. The initial version of the Vision Pro is set to launch early next year at a price of $3,500, but Apple is reportedly aiming to release a cheaper model for around $1,500 to…
Smartphone chip giant Qualcomm cuts 2.5% of its workforce
The year 2023 was a tough one for the big names in tech, as X (the former Twitter), Amazon, Google, Microsoft, and Meta all had to let go of tens of thousands of employees. Qualcomm, a leading maker of smartphone chips, has also joined the list of companies that are downsizing. According to CNBC, Qualcomm…
Intel 14th Gen Raptor Lake-HX Refresh CPUs: A New Boost for High-End Gaming Laptops
If you are looking for the best gaming laptops in 2024, you might want to check out the new Intel 14th Gen Raptor Lake-HX Refresh CPUs. These are the latest processors from Intel that will power some of the most powerful gaming laptops on the market. They offer improved performance, higher clock speeds, and more…
Hong Kong Crypto Exchange OSL explores sale at HK$1 bn valuation
Hong Kong’s BC Technology Group Ltd. is considering selling its cryptocurrency platform OSL, one of only two exchanges licensed under the city’s new digital asset rules, Bloomberg reported. BC Technology has held talks with potential buyers, including industry players and funds, and a valuation of HK$1 billion (US$128 million) has been discussed. The sale of…
Novo Nordisk to buy hypertension pill, Ocedurenone, from KBP Biosciences for $1.3 bn
COPENHAGEN: Novo Nordisk A/S, a biotechnology company based in Denmark, announced on Monday that it will acquire ocedurenone, a pill for uncontrolled hypertension, from KBP Biosciences for $1.3 billion. The drug also has potential benefits for cardiovascular and kidney disease patients. Ocedurenone is currently undergoing a Phase 3 trial for uncontrolled hypertension and advanced chronic…
New York-based Stash raises $40 million and appoints NYSE veteran as audit chair
Stash, a New York-based investment and banking app, has secured $40 million in new funding to support its “next phase of growth” and announced a new independent audit chair. The company’s latest round was led by funds and accounts advised by T. Rowe Price, with more support from existing investors such as Goodwater Capital and…
abrdn agrees to sell its European Private Equity business to Patria Investments
LONDON, UK: abrdn has agreed to sell its £7.5bn AUM European-headquartered Private Equity business to Nasdaq-listed Patria Investments. The sale is expected to complete in the first half of 2024. Upfront consideration comprises of £60 million of cash; secured deferred consideration of £20 million plus interest of cash to be paid 24 months following completion….
Greater Manchester Pension Fund puts £500mn in Bruntwood SciTech, becomes partner
LONDON, UK: Bruntwood SciTech, a leading UK property provider for the life science and tech sectors, has received £500 million of extra funding and welcomed Greater Manchester Pension Fund (GMPF), the UK’s biggest local authority pension fund, as a new partner. GMPF is the first local government pension scheme to invest directly and actively in…
SkyGem acquires 59.96% stake in Allergy Therapeutics, launches cash offer for remaining shares
LONDON, UK: SkyGem Acquisition Limited, a private company backed by ZQ Capital, has acquired 59.96% of the shares of Allergy Therapeutics for 1 pence per share. As a result of this acquisition, SkyGem is required to make a mandatory cash offer for the remaining shares of Allergy Therapeutics, also at 1 pence per share. The…