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…
TotalEnergies acquires Ombrea and creates a center of expertise for agrivoltaics
PARIS, FRANCE: TotalEnergies has finalized the acquisition of France’s agrivoltaics leader Ombrea. Ombrea was founded in 2016. It has built ten sites and studied around fifty crop varieties, to develop unique expertise and innovative solutions that optimize the synergies between agricultural production and green electricity generation. By integrating Ombrea’s teams and expertise into its renewable…
ECB experiments with AI for text, image, and code generation
The European Central Bank (ECB) is testing how to use artificial intelligence (AI) products to automate some of its tasks. Its “infinity team” is exploring how to generate text, images, and computer software for internal purposes, before considering its use in critical banking operations. The ECB’s chief services officer, Myriam Moufakkir, has launched an initiative…
HSBC to buy Citi’s China wealth management business: Reuters
HSBC, Europe’s largest lender, is set to acquire Citigroup’s China consumer wealth management business, which manages more than $3 billion in assets, Reuters reported. The deal, which could be announced as soon as next month, will also see HSBC taking over hundreds of Citi’s China-based staff. The acquisition is part of HSBC’s strategy to expand…
GameStop appoints billionaire Ryan Cohen as CEO and chairman
GameStop Corp. announced on Thursday that it has named Ryan Cohen, its largest shareholder and board member, as its new chief executive officer and chairman. The move marks the culmination of Cohen’s efforts to transform the struggling videogame retailer into a more online-focused business. Cohen, who founded and sold online pet products retailer Chewy for…
Pioneer Lithium hires former Fortescue executive Clinton Booth as CEO
SYDNEY, AUSTRALIA: Pioneer Lithium Limited, a new player in the critical minerals sector in North America, has announced the appointment of Clinton Booth as its first Chief Executive Officer. Mr Booth is a seasoned mining executive with more than two decades of experience in the industry, having worked for Fortescue Future Industries and Galaxy Resources…
Regal Partners withdraws bid to buy Pacific Current
LONDON, UK: Regal Partners Limited, an alternative investment manager listed on the ASX, has announced that it has withdrawn its offer to acquire Pacific Current Group Limited, a global multi-boutique asset management firm. Regal Partners had made a confidential and non-binding indicative proposal to buy all the shares of Pacific Current in March 2023, and…
Duckhorn Wine Company CEO Alex Ryan retires, Deirdre Mahlan steps in
The Duckhorn Portfolio Inc., North America’s premier luxury wine company, announced the retirement of its President, Chief Executive Officer and Chairman, Alex Ryan, after 35 years of service. The company’s Board of Directors has appointed Deirdre Mahlan, a former CEO of Diageo North America, as interim President, Chief Executive Officer and Chairperson. Mahlan has been…
TotalEnergies sells a 40% interest in Block 20 to Petronas ahead of its development
PARIS, FRANCE: TotalEnergies EP Angola Block 20 has finalized the sale to PETRONAS ANGOLA E&P LTD (PAEPL), a company belonging to the PETRONAS group of companies, of a 40% interest in Block 20 in the Kwanza Basin in Angola. The transaction was completed for an amount of $400 million as at January 1st, 2023, subject…
New product from Concurrent Technologies extends life of legacy systems
LONDON, UK: Concurrent Technologies, a leading provider of embedded computer solutions for critical applications, has announced the launch of Buddon, a ruggedised plug-in-card that offers a technology upgrade for systems based on 3U CompactPCI. Buddon is a postcard sized board that incorporates the latest 11th Generation Intel® Core™ Processor, enabling customers to meet higher security…