Facebook-owner opens access to AI large language model Facebook-owner Meta Platforms Inc is opening up access to a large language model for artificial intelligence research, the social media company said on Tuesday. Meta said its model was the first 175-billion-parameter language model to be made available to the broader AI research community. “Large language models” are natural language processing systems which are trained […] May 3, 2022
Saudis ‘let down’ by US over Houthi security threats, says royal Saudi Arabia feels “let down” by the United States in tackling security threats to the kingdom and wider region by Yemen’s Iran-aligned Houthi movement, a senior member of the Saudi royal family and former intelligence chief said. Traditionally strong ties between Riyadh and Washington have been shaken under U.S. President Joe Biden by the 2018 […] May 3, 2022
Manufacturing $3bn IPO of Coca-Cola’s African bottler delayed Coca-Cola’s estimated $3 billion initial public offering (IPO) for its African bottling unit will likely take place in the third quarter after market turmoil linked to the war in Ukraine upset plans to list earlier, three sources have said. The flotation of Coca-Cola Beverages Africa (CCBA) would be the biggest on the Johannesburg Stock Exchange […] May 3, 2022
Food & Drink Upside Foods valued at $1bn from Abu Dhabi funding Upside Foods has raised $400 million in a funding round led by Temasek and Abu Dhabi Growth Fund, valuing the cultivated meat company at over $1 billion, the company said on Thursday. SoftBank Vision Fund 2 and Synthesis Capital are among the investors who took part in the latest round, bringing the company’s total capital […] May 3, 2022
Shopify’s revenue growth slowest in seven years, shares plunge Canada’s Shopify Inc reported its slowest quarterly revenue growth since going public in 2015 and delivered a big miss on profit, sending the company’s U.S.-listed shares tumbling 17 percent on Thursday. Easing global e-commerce growth from the frenetic pace seen during the peak of the pandemic has hit Shopify, which provides merchants tools and service […] May 2, 2022
Google gives $100,000 worth of tech training to every US business Alphabet Inc’s Google will provide any US business over $100,000 worth ofonline courses in data analytics, design and other tech skills for their workers free of charge, the search company said on Monday. The offer marks a big expansion of Google’s Career Certificates, a program the company launched in 2018 to help people globally boost […] May 2, 2022
Analysis Energy Tapping oil stockpiles may not be enough to plug loss of Russian supply Top oil consuming nations may find that one of their main tools to fight high global oil prices – the release of strategic stockpiles – will prove inadequate to soothe markets starved of Russian supply since its invasion of Ukraine. The 31-member International Energy Agency, representing industrialised nations but not Russia, presided over the fourth […] May 2, 2022
Retail Apparel to buy Karl Lagerfeld brand in $210 mln all-cash deal Apparel Group Ltd said on Monday it has agreed to acquire the remaining 81% stake in Karl Lagerfeld for $210 million in cash, becoming the sole owner of the Parisian fashion brand. G-III, which owns brands including DKNY and Jessica Howard, will purchase the additional stake from a group of investors led by Fred Gehring […] May 2, 2022
Chip startups using light instead of wires gain momentum Computers using light instead of electricity for processing are gaining traction. And startups that have solved the engineering challenge of using photons in computer chips are getting big funding. Researchers say the technology could drive innovation in everything from quantum computing to driverless cars to artificial intelligence. California-based startup Ayar Labs is developing a technology […] May 1, 2022
Actual COVID death toll near 15 million The official death toll from the first two years of the coronavirus pandemic is about 5.4 million. But according to a new World Health Organization report, the actual number is around three times higher than that. The U.N. body said on Thursday there were 14.9 million excess deaths associated with COVID-19 by the end of […] April 29, 2022
Agriculture Ukraine war push egg prices higher worldwide Severe outbreaks of bird flu in the United States and France are tightening global egg supplies and raising prices for the food staple as the war in Ukraine disrupts shipments to Europe and the Middle East. Higher prices are particularly painful for consumers who rely on eggs as a low-cost source of protein and substitute […] April 29, 2022
Sustainability Regulators call for external checks on bank climate data Regulators could force banks and other financial firms to hire external auditors to check on the accuracy of their climate data, the Financial Stability Board said in a report on Friday. Financial firms are being required to spell out how climate change is affecting their business as part of government efforts to meet net-zero economy […] April 29, 2022
Manufacturing Lucid to buy 100,000 electric vehicles from Saudi Arabia Electric carmaker Lucid Group Inc on Tuesday said it has signed an agreement with the government of Saudi Arabia for the purchase of up to 100,000 of its vehicles over the next 10 years. Saudi Arabia commits to purchase 50,000 vehicles under the agreement, with an option to buy an additional 50,000 vehicles during the ten-year time frame, […] April 29, 2022
Banking & Finance Qatar Airways suffers setback in feud with Airbus A British judge has denied a bid by Qatar Airways to reinstate a jet contractcancelled by Europe’s Airbus in the latest twist to a dramatic feud playing out in UK courts. The companies have been locked in a safety dispute for months on Europe’s A350 long-haul jet. Their unprecedented bust-up widened in January when Airbus revoked a separate deal for […] April 29, 2022
Retail Tata Motors maps out long-range EVs for India and beyond Tata Motors says it plans to launch electric cars with a minimum range of 500 kilometres (310 miles) and advanced technology features, targeting buyers in India and beyond. The first electric vehicles (EVs) built using its new platform should be on the road in 2025, Tata said during an event in Mumbai where it unveiled […] April 29, 2022
Banking & Finance Americana selects banks for Saudi and UAE listings The Middle East and North Africa franchisee of fast-food restaurants KFC and Pizza Hut has hired banks for a potential dual listing in Saudi Arabia and theUnited Arab Emirates, a source with knowledge of the matter said. Americana Group has selected Goldman Sachs, First Abu Dhabi Bank (FAB) and Saudi National Bank (SNB) for the deal, said the source, declining […] April 29, 2022
Tourism Airbus wins backing for 2024 jet output European planemaker Airbus looks set to raise narrowbody jetliner production for 2024 after reaching a compromise deal with at least two suppliers following months of wrangling over the speed of post-pandemic recovery. The world’s largest planemaker is restoring and slightly expanding pre-pandemic output for best-selling models as traffic rebounds in the West, but has been […] April 29, 2022
Banking & Finance UAE freezes assets of Kinahan drug trafficking gang The United Arab Emirates has frozen the assets of Ireland’s Kinahan drug trafficking gang, the Financial Times reported on Thursday. The United States, which earlier this month offered a $5 million reward for help arresting the leaders of the gang, has likened it to some of the world’s most notorious crime networks. Daniel Kinahan, one […] April 29, 2022
Media & Advertising Trump finally posts on Truth Social: “I’M BACK!” Former US president Donald Trump posted a brief message on Truth Social late Thursday for the first time since the app he founded launched two months ago, saying “I’M BACK!” Trump broke his silence as Elon Musk sealed a $44 billion deal to buy Twitter, which last year permanently banned Trump citing a risk of […] April 29, 2022
Banking & Finance Sterling set for biggest drop in six years against dollar Sterling rose against the dollar on Friday but was still set for its sharpest monthly drop since October 2016, while edging higher against the euro. The dollar dropped from its recent 20-year high while still on track for its best month since 2015, bolstered by a combination of expectations for US rate hikes and growth […] April 29, 2022
Media & Advertising Musk told banks he will rein in Twitter pay Elon Musk told banks that agreed to help fund his $44 billion acquisition of Twitter Inc that he could crack down on executive and board pay at the social media company in a push to slash costs, and would develop new ways to monetize tweets, three people familiar with the matter said. Musk made the […] April 29, 2022
Media & Advertising Comedian James Corden to leave his CBS late-night show next year British comedian James Corden said on Thursday he will exit “The Late Late Show” on CBS television in 2023 after eight years as host to explore other opportunities. Corden announced the news at an episode taping in Los Angeles. He told a studio audience that he saw the show, which he began hosting in 2015, […] April 29, 2022