Kindo, a startup that provides a secure AI productivity platform for businesses, has raised $7 million in seed funding led by Riot Ventures. The company, founded by former executives and engineers from Bird Rides, Clover Health, Riot Games, Google, OpenAI, and Square, enables businesses to use any AI model, whether commercial, open source, or proprietary,…
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BRI Wealth Management acquires Singular Financial Planning, expands in Midlands
LONDON: Singular Financial Planning, a Worcestershire-based firm, has been acquired by BRI Wealth Management, a UK-based company, for an unknown amount. The transaction adds £30m ($38m, €35m) of assets under management to BRI and increases its presence in the wealth management sector in the Midlands. BRI Wealth Management’s chief executive, Dan Boardman-Weston, said: “I’m proud…
Arm Holdings plans to raise $4.87 billion in world’s largest IPO this year
The phone-chip designer Arm Holdings Ltd., owned by SoftBank Group Corp., is preparing for a public offering that could raise up to $4.87 billion, according to a filing with the US Securities and Exchange Commission on Tuesday. The company plans to sell 95.5 million American depositary shares at $47 to $51 each, valuing it at…
German cities need €347bn to fix roads and rail by 2030
According to a study by the German Institute for Urban Studies (Difu), which was commissioned by the Main Association of the German Construction Industry (HDB), the Association of German Transport Companies (VDV) and the General German Automobile Club (Adac), German cities need to invest €283bn to upgrade their roads and €64bn to improve their rail…
Electric vehicles registration 72.3% in UK
The UK car market saw a significant growth in August 2023, with electric vehicles (EVs) registering a 72.3% increase from last year. According to the latest data from the Society of Motor Manufacturers and Traders (SMMT), 17,243 EVs were sold in August, accounting for one-fifth of the total 85,657 new cars registered in the month….
B&M saves 51 Wilko stores in £13m deal
A deal with B&M has saved 51 of Wilko’s 400 stores from closure, after the high street chain went into administration. The deal, worth £13m, was announced by B&M, which operates about 1,150 stores in the UK and France under the B&M and Heron brands. The deal follows the failure of a previous bid to…
UAE sets up gaming regulator, eyes casino legalization
The UAE is taking steps to become the first Gulf country to allow casinos, as it announced the formation of a federal authority to oversee the gaming industry. The new body, which will be led by former MGM Resorts International CEO Jim Murren, will create a “world-leading regulatory framework” for a national lottery and commercial…
AXA XL appoints Lucy Pilko as new Americas CEO
Lucy Pilko will be the new Americas CEO of AXA XL, a global insurer and reinsurer, starting from 30 October. She will be based in New York and oversee the US, Canadian, and Bermudian insurance operations. Pilko joins AXA XL from Boston Consulting Group (BCG), where she was a managing director and senior partner. She…
London Stock Exchange to launch blockchain-based trading platform
LONDON: The London Stock Exchange Group PLC (LSEG) is working on a new trading platform that will use blockchain technology to trade traditional financial assets, such as equities. This was reported by the Financial Times on Monday. According to the report, London Stock Ex’s capital markets and data-technology division has been researching the potential of…
Google raises prices for Nest Aware subscriptions in the US
Google has announced that it is increasing the prices of its Nest Aware subscriptions, which provide users with advanced features and longer video history for their security cameras and doorbells. The price hike will affect both new and existing subscribers in the US, and could also be implemented in other countries soon. According to a…
Berkshire Hathaway Energy buys 50% stake in Cove Point LNG for $3.3 billion
Berkshire Hathaway Energy, a subsidiary of Warren Buffett’s Berkshire Hathaway, has acquired a 50% stake in Cove Point LNG, LP, a liquefied natural gas (LNG) business, from Dominion Energy for $3.3 billion. The deal, which was announced on July 10 and closed on September 1, gives Berkshire Hathaway Energy a 75% ownership interest in Cove…
WBM Technologies acquires Carlyle Printers to expand in Manitoba
WBM Technologies LP (WBM), a Western Canadian leader in IT solutions, announced today that it has acquired Carlyle Printers Service and Supplies (Carlyle), a leading Manitoba print technology provider. The acquisition will create Manitoba’s largest and most sophisticated managed print support organization, with a team of 95 professionals and a new 15,000 square foot facility…