Meta, the owner of Facebook and Instagram, has announced a new subscription service for its virtual reality (VR) headsets, as it aims to make its VR business profitable and build its vision of a “metaverse”. The service, called Meta Quest+, will cost $7.99 a month or $59.99 a year and will give users access to…
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Australians spent over $4 billion on video games in 2022
The Australian video game industry reached a new record of $4.12 billion in consumer spending in 2022, according to new data from the Interactive Games and Entertainment Association (IGEA). The data, based on research by Sparkers and Newzoo, showed that Australians spent more on digital purchases, video game subscriptions and retail hardware and software than…
Biden administration announces $1.35 billion for high-speed broadband in Louisiana
The Biden administration has announced a plan to connect every person in America to high-speed internet by 2029, with $1.35 billion allocated for Louisiana. The money will be used to build fiber optic lines in rural areas, such as Sunset, where Vice President Kamala Harris visited in March and met with residents who lack reliable…
Electric truck maker Lordstown Motors goes bankrupt and sues Foxconn
Lordstown Motors (RIDE.O), a U.S. electric truck manufacturer, has filed for bankruptcy protection and put itself up for sale after a dispute with Taiwan’s Foxconn over a promised investment. The company filed for Chapter 11 protection in Delaware on Tuesday and sued Foxconn in the same court, accusing the electronics giant of fraud and breach…
Apple to launch new iMacs, iPads, MacBooks and Apple Watch models in the next year
Apple is gearing up for a busy year ahead, with a range of new products and updates across its major product lines. According to a report from Bloomberg, the tech giant will release new iMacs, iPads, MacBooks and Apple Watch models in the next 12 months, as well as its highly anticipated Vision Pro headset….
Japan proposes $6.3bn acquisition of semiconductor material giant, JSR
TOKYO – In a move that highlights the global focus on critical chip technology, a fund backed by the Japanese government has unveiled a proposed $6.3 billion acquisition of JSR, a prominent semiconductor material giant. The Japanese Investment Corporation (JIC) submitted an offer of 4,350 Japanese yen ($30.3) per share to acquire JSR, representing a…
IBM to buy Apptio for $4.6 billion to boost its AI and IT automation software
IBM has announced that it will pay $4.6 billion in cash to acquire Apptio, a software company that helps customers optimize their IT spending and operations. The deal, which is expected to close in the second half of this year, is part of IBM’s strategy to invest in AI and IT automation software. Apptio provides…
Argos Closes All 34 Irish Stores, Putting 580 Jobs at Risk
Argos, the popular retailer owned by the Sainsbury’s Group, has announced the closure of all its 34 stores in Ireland by the end of today. This decision comes after the closure of four sites earlier, with the remaining thirty stores set to shut their doors for good. Sainsbury’s confirmed that all Argos stores in Ireland…
Vice Media to be sold to creditors for $350 million in bankruptcy deal
Vice Media, the digital media company that once boasted a valuation of $5.7 billion, has agreed to be sold to three investment companies for $350 million in a bankruptcy deal. The deal, which was announced in a legal filing on Thursday, will see Fortress Investment Group, Soros Fund Management and Monroe Capital take over the…
Ripple gets green light to operate in Singapore amid US regulatory woes
Blockchain company Ripple has received in-principle regulatory approval to operate in Singapore, in a rare moment of good news for the cryptocurrency industry globally as it faces tightening policy back home in the United States. Ripple said on Thursday that it was granted in-principle approval of a Major Payment Institution Licence from the Monetary Authority…
Veon to invest $600 million in Ukraine’s Kyivstar amid war
Veon, a global telecoms company, said on Wednesday it would invest $600 million in the infrastructure of its Ukrainian subsidiary Kyivstar, the country’s largest mobile network, which has been damaged by the ongoing war with Russia. The Amsterdam-listed company said the funds would help upgrade Kyivstar’s infrastructure, including improving connectivity and 4G services throughout Ukraine,…
Intel to sell 20% stake in IMS Nanofabrication to Bain Capital for $860 million
Intel Corporation announced on Wednesday that it has agreed to sell an approximately 20% stake in its IMS Nanofabrication GmbH (IMS) business to Bain Capital Special Situations, in a transaction that values IMS at approximately $4.3 billion. IMS is a global market leader for multi-beam mask writers, which are critical equipment for the semiconductor industry. IMS…