According to a draft document seen by Reuters, Amazon, Alphabet’s Google, Microsoft, and other non-European Union (EU) cloud service providers seeking to handle sensitive data and secure an EU cybersecurity label will need to form a joint venture with an EU-based company. The cloud service must be operated and maintained from the EU, and all…
Telecom Egypt completes 2Africa subsea cable installations, connectivity over 3 billion people
LONDON, UK: Telecom Egypt (TE) is one of the largest telecommunications providers in Egypt, with a history that dates back to the late 1800s. The company offers a wide range of telecommunications services to individuals, businesses, and government organizations in Egypt, including fixed-line telephone, mobile phone, internet, and data services. In recent years, Telecom Egypt…
Uber launches flight bookings on its UK app, expanding beyond ride-booking business
Ride-hailing giant Uber is expanding its services once again by adding international and domestic flight bookings on its UK app. According to a report by the Financial Times, the move is part of Uber’s strategy to expand its core ride-booking business. Andrew Brem, Uber’s UK General Manager, said that this was the “latest and most…
Tempur Sealy to acquire Mattress Firm in $4 billion deal
Tempur Sealy International, a leading U.S. bedding maker, has announced plans to acquire retailer Mattress Firm in a cash-and-stock deal worth around $4 billion. The acquisition is aimed at stemming a post-pandemic decline in sales that has affected the mattress industry in recent quarters. Mattress Firm is one of the largest bedding retailers in the…
Oakley Capital Fund III to realize stake in Germany’s largest university for £240 million
LONDON, UK: Oakley Capital Investments Limited (OCI) has announced that its investment fund, Oakley Capital Fund III, has reached an agreement to sell its stake in IU Group, the largest and fastest-growing university in Germany, and a global leader in education technology. The sale of the stake has been agreed at the carrying value of…
Smiths Group announces appointment of Steve Williams as Chair of the Board
Smiths Group plc, a leading engineering company, has announced that Steve Williams will be appointed as the new Chair of the Board, subject to his election as a non-executive Director at the Company’s Annual General Meeting to be held on 16 November 2023. This appointment is part of the Company’s orderly succession planning activities. Sir…
Bubs Australia Limited terminates employment of its CEO, Ms Kristy Carr
MELBOURNE, AUSTRALIA: Bubs Australia Limited (ASX: BUB) announced the termination of the employment of its CEO, Ms Kristy Carr, with immediate effect due to failure to comply with reasonable Board directions. Former Executive Chair, Mr Dennis Lin’s employment with Bubs has also been terminated with immediate effect. Bubs Australia announced on 11 April 2023 that…
Blockworks Raises $12mn to expand crypto media and research offerings amidst industry turmoil
Blockworks, a media company that covers cryptocurrency for professionals, has raised $12 million in funding at a post-money valuation of $135 million, according to its co-founder Jason Yanowitz. The round was led by 10T Holdings, with participation from Framework Ventures and Santiago Santos, a crypto investor who co-hosts a podcast with Yanowitz for Blockworks. The…
Huawei launches P60 Pro and Mate X3 in Europe: Specs and Prices
Huawei has launched its latest flagship phones, the P60 Pro and Mate X3, in Europe. The Chinese tech giant had initially announced both phones in China in March but has now revealed plans for a wider rollout. Both phones run on Huawei’s EMUI 13.1 UI and rely on the company’s AppGallery for sourcing apps, with…
Carrefour announces plans to open 50 stores in Israel as part of franchise partnership
French retailer Carrefour has unveiled plans to open 50 stores in Israel as part of a franchise partnership with Electra Consumer Products and its subsidiary Yenot Bitan. The stores will comprise three hypermarkets, 10 supermarkets and 37 convenience stores, with nine of the locations in Tel Aviv. Carrefour said it would import around 1,200 stock-keeping…
Bittrex Crypto Exchange Files for Chapter 11 Bankruptcy Protection Following SEC Lawsuit
Bittrex, a popular crypto trading exchange, has filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court for the District of Delaware. This move comes three weeks after the United States Securities and Exchange Commission (SEC) filed a lawsuit against Bittrex and its co-founder and former CEO, William Shihara. The SEC charged the exchange…
Ryanair Orders 150 Boeing 737 Max 10 Planes After Resolving Pricing Dispute
Ryanair has announced its intention to purchase at least 150 Boeing 737 Max 10 planes, with an option to purchase an additional 150 planes, in what is the airline’s largest-ever order.