Meta Platforms Inc, a Facebook parent company, reduced the price of certain Quest virtual reality headsets. Due to weaker demand than expected, the list includes its top-end mixed reality device. The company’s headset, the Meta Quest Pro, made an entrance last fall with corporate users in mind. Beginning March 5, the price will drop to …
Meta Platforms “going medieval” on Quest headsets Read More »
Bed Bath & Beyond Inc’s salvation from the verge of bankruptcy last month is now threatened by the retailer’s plunging stock price. The company received $225M in upfront funding from hedge fund Hudson Bay Capital. Over the next eight months, it committed to investing another $800M. It was characterized as a “transformative transaction” by Bath …
Is Bed Bath & Beyond Rescue at risk again due to stock decline? Read More »
In order to expand its presence in the transportation industry, Saudi Aramco is close to agreeing to buy a stake in the planned combustion-engine partnership between Zhejiang Geely Holding Group Co and Renault SA. The largest oil firm in the world will acquire a minor stake, according to anonymous sources. In contrast, Renault and China’s …
A fresh batch of significant inflation data from Europe reinforced the case for further rate increases. This will likely slow one of the world’s greatest economies. Moreover, it caused US equity futures to tremble and bonds to plummet. S&P 500 contract prices fluctuated, with the index expected to fall by more than 2% in February. …
The primary oil company of the United Arab Emirates has raised the scale of an IPO of its gas sector. The gas business was initially expected to be the biggest ever this year by a quarter to a whopping $2.5 billion. Investors purchased all available shares within hours of them being on sale last week. …
Warren Buffett’s Berkshire Hathaway Inc reported poor results in some of its major businesses. The fact reinforces the anxiety surrounding the United States’ economic future. Nevertheless, the billionaire investor remains hopeful. In the fourth quarter, the corporation’s operating earnings declined by 14% to $6.7 billion. This was due to the increasing cost of materials and …
Warren Buffett is hopeful in the midst of gloomy US economy Read More »
The Federal Trade Commission (FTC) has decided to end its antitrust dispute against Meta Platforms Inc.’s acquisition of virtual reality firm Within Limitless. Thus, it put an end to the agency’s investigation. Last year, the FTC filed two complaints in federal court along with its own court to prevent the purchase. US District Judge Edward …
FTC raised a white flag – Meta Platforms acquires Within Limitless Read More »
Nvidia is hyper-motivated to show that the talk about its potential in the ChatGPT’s environment is more than just a temporary trend. Between January 1 and the present, the stock price of Nvidia has increased by 42%. It outperformed the 14% rise in the PHLX Semiconductors Index. Statistics for the company’s fiscal fourth quarter were …
In February 2017, Cathie Wood appeared on Bloomberg Television. She argued that networks of autonomous taxis and electric vehicles will significantly upset the $10 trillion global mobility business. According to her, Tesla was championing EVs and had its sights set on robotaxis. This erroneous judgment aided in making Cathie Wood and her company, Ark Invest, …
Cathie Wood’s Tesla Robotaxi Dream is Still Alive Read More »
Intel Corp is the largest manufacturer of computer processors. It has reduced its dividend payment to the lowest it has been in 16 years in an attempt to conserve cash and concentrate on reversing the damage. The company announced its decision to pay 12.5 cents per share to its investors in its quarterly distribution, which …
Intel Slashed Dividend the Lowest In Almost 2 Decades Read More »
HSBC Holdings PLC declared a significant increase in profit in the fourth quarter. This is due to growing interest rates and the banking giant’s emphasis on Asia and the Middle East. Exceeding financial analysts’ expectations, the British bank reported that its profit more than doubled in the last three months of 2022 compared to 2021, …
HSBC Grew Wary as the Bank Broke Earnings Expectations Read More »
The grass really isn’t greener on the other side. Quite a large number of freshly public companies are reverting to private ownership. This comes as a surprise due to a public trend circulating around in the past years. Going public was the move in 2020 and 2021. Of the numerous companies that previously chose the …
After Russia’s horrid invasion of Ukraine, Europe is in need of a new supplier of gas. Of course, the Middle East isn’t planning to waste this opportunity. The Abu Dhabi National Oil Company (Adnoc) aims to raise $2B by selling a 4% stake in its natural gas business in an initial public offering. Adnoc Gas …
Saudi Arabia’s Public Investment Fund (PIF) became the biggest outside shareholder of Nintendo Co. Quite logically, this is an attempt to lower its dependency on oil. According to a filing, the sovereign wealth fund has increased its ownership stake in the legendary gaming company to 8.3%. This rate’s up from just over 6% at the …
Saudi Arabia now holds the largest stake in nintendo Read More »
Ransomware attacks against industrial organizations skyrocketed in 2022. Research shows that the number has increased by an astounding 87%. The manufacturing sector is the prime target for harmful malware. The cybersecurity firm Dragos Inc, reports that hackers preyed on mining industries based in Australia and New Zealand. Consequently, they shifted their focus to the US …
