Sony is set to introduce its latest flagship Xperia smartphone in less than two weeks. However, ahead of the official launch, a billboard in Hong Kong has appeared to confirm the upcoming device as the Xperia 1 V. The billboard, showcasing the phone’s design and focus on camera performance, has piqued the interest of tech…
JPMorgan Chase wins auction for First Republic bank in biggest U.S. bank failure since 2008 crisis
Regulators have seized control of First Republic, marking the third US bank failure since March. JPMorgan Chase emerged as the winning bidder for the ailing bank, taking all of its deposits and a “substantial majority of assets”. This seizure is the largest bank failure since 2008 when Washington Mutual collapsed, with JPMorgan also taking the…
Saudi’s eXtra cancels expansion plans in Egypt due to feasibility concerns
eXtra, the Saudi consumer electronics company, has announced that it will no longer pursue expansion plans in Egypt following a feasibility study, citing negative financial impact. The company had initially planned to establish its first subsidiary outside the Gulf Cooperation Council in Egypt in 2021 with an investment of 1 billion Egyptian pounds ($32.41 million)….
BitOasis becomes first broker-dealer to receive operational license from Dubai crypto regulator VARA
BitOasis, a crypto exchange based in the United Arab Emirates, has become the first broker-dealer to receive an operational license from Dubai’s Virtual Asset Regulatory Authority (VARA), the company announced on Monday. The license enables the company to provide broker-dealer services to qualified retail and institutional investors in the emirate under VARA’s regulatory framework. Dubai’s…
Quest Diagnostics acquires oncology company Haystack for $450 million
Quest Diagnostics, a provider of diagnostic information services based in Seacaucus, New Jersey, has acquired Haystack Oncology, an early-stage oncology company based in Baltimore, Maryland, for $300 million in cash. Quest will also pay up to an additional $150 million in future performance milestones. The transaction is expected to be completed in the second quarter,…
Japan’s Astellas Pharma to acquire U.S. drugmaker Iveric Bio for $5.9 billion
Astellas Pharma, Japan’s third-largest drugmaker by sales, has announced its biggest-ever acquisition with the purchase of US-based Iveric Bio for around $5.9 billion. The deal marks the company’s fifth major overseas acquisition since 2019, as it looks to shore up its pipeline with new treatments following the loss of patent protection for its main products….
G7 agrees on “risk-based” regulation for AI, ChatGPT in focus
Digital ministers from the Group of Seven (G7) nations have agreed on Sunday to adopt “risk-based” regulations on artificial intelligence (AI), in a move that sets a landmark for how major countries govern AI amidst privacy concerns and security risks. The G7 ministers said that such regulations should “preserve an open and enabling environment” for…
Qube Holdings expands into New Zealand and Australian resources industry with strategic acquisitions
SYDNEY, AUSTRALIA: Qube Holdings Limited, an Australian logistics company, has announced the acquisition of a 50% stake in Pinnacle Corporation Limited, a New Zealand-owned and operated group of companies, as well as 100% of Kalari Proprietary Limited, a leading logistics provider to the Australian mining and resources industry. Qube Holdings is a diversified logistics and…
Camplify Holdings settles final consideration for acquisition of Mighway and SHAREaCAMPER
SYDNEY, AUSTRALIA: Camplify Holdings Limited (ASX: CHL), an Australian-based RV and camper sharing platform, has announced the completion of the acquisition of Mighway and SHAREaCAMPER from Tourism Holdings Limited (THL). The final purchase price for the transaction is $7.37 million AUD, payable in CHL shares. The payment was divided into two tranches, with the first…
Kazia Therapeutics CEO Dr James Garner Resigns, Dr John Friend Assumes Role
SYDNEY, AUSTRALIA: Kazia Therapeutics Limited , an oncology-focused drug development company, today announced that Chief Executive Officer and Managing Director, Dr James Garner, has resigned from the company Dr John Friend, Chief Medical Officer of Kazia, will immediately assume the role of Chief Executive Officer, and will in due course join the Board as Managing…
Southern Cross Media announces CEO succession with John Kelly to succeed Grant Blackley
Southern Cross Media Group Limited (ASX: SXL) (SCA) has announced that its current CEO and Managing Director, Grant Blackley, will step down on June 30, 2023. The current Chief Operating Officer, John Kelly, has been appointed to succeed him, effective July 1, 2023. Mr. Blackley will spend the next two months providing a comprehensive transition…
Clean TeQ Water CEO Willem Vriesendorp has tendered his resignation
SYDNEY, AUSTRALIA: Clean TeQ Water Limited advised that Willem Vriesendorp has tendered his resignation as Chief Executive Officer (CEO) of the Company to pursue other opportunities. The Board has accepted his resignation effective immediately. Mr Vriesendorp will continue with the Company in an advisory role over the coming period to ensure a smooth transition. The…