After three years of trying, fintech start-up Revolut finally recieves a UK banking licence, but with some restrictions from regulator
TECHNOLOGY POWERING BUSINESS
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Alphabet Q2 Beats Expectations, But Shares Dip
Despite share buyback and positive Q2 results, Alphabet's share price falls over YouTube slowdown and margin declines
Wiz Rejects $23 Billion Acquisition Bid From Google – Report
Memo to staff from co-founder explains reason for walking away from Google's takeover bid, and confirms IPO intentions
Bitcoin ‘Creator’ Craig Wright Admits He Is Not Satoshi Nakamoto
Australian computer scientist Craig Wright referred to Crown Prosecution Service (CPS) to be considered for perjury charges
GitLab Explores Possible Sale – Report
Coding platform GitLab is reportedly exploring a sale, nearly three years after successful IPO on the Nasdaq
Trump Media Shares Rally After Assassination Attempt
Shares in Trump Media surge 33 percent after Saturday assassination attempt on former president as investors bet on reelection
Japan’s SoftBank Acquires AI Chip Start-up Graphcore
Alphabet Walks Away From HubSpot Deal
Not interested. Alphabet reportedly opts not to make an offer for HubSpot to bolster CRM and cloud position
Vodafone, Virgin Media O2 Extend Network Sharing Deal
Current network sharing deal between Vodafone and Virgin Media O2 extended to mid 2030s, including some spectrum sale
Russia’s Central Bank Tells Businesses To Use Crypto To Avoid Sanctions
Sanctions busting. Russian businesses told to use cryptocurrencies and other digital options to make payments with foreign customers
Fisker Seeks Approval For Firesale Of Remaining EVs
Fisker asks bankruptcy judge for permission to sell remaining Ocean SUV at just $14,000 per EV, down from $70,000
Jeff Bezos To Sell $5 Billion Worth Of Amazon Shares
Needs to buy more yachts? After Amazon stock hits record high, founder Jeff Bezos to offload huge tranche of shares
Salesforce Shareholders Reject CEO Marc Benioff’s Compensation Plan
Compensation packages for Salesforce's top executives are rejected by shareholders and investors, despite backing from the board
Meme Stock GameStop Sinks On Lawsuit News
Meme stock GameStop, known for a stellar rally in 2021 spurred by social media, shows volatility on news of probes into 'Roaring Kitty'
Troubled EV Maker Rivian Lays Out Path To Profitability
At first-ever investor day EV maker Rivian lays out profitability plans after $5bn deal with VW offers it financial lifeline
FBI Offers $5 Million Bounty For Fugitive ‘CryptoQueen’ Ruja Ignatova
US authorities place huge bounty on Ruja Ignatova, the former leader of OneCoin cryptocurrency Ponzi scheme
VinFast Touts Cheap And Tiny EV, Amid Sales Concerns
Amid concerns about EV sales, a new small and cheap EV from VinFast is aimed primarily at the Asian market
Amazon Finally Breaches $2 Trillion Valuation
Long time coming. Amazon has reached a $2 trillion market capitalisation - six years after it passed a $1 trillion valuation
Rivian To Gain Up To $5 Billion Investment From Volkswagen
Crucial intervention? Volkswagen to form joint venture with Rivian to share electric vehicle software and architecture
China-Linked Shein Faces Uphill Battle For IPO In US Or UK
China-founded fast-fashion company Shein faces political resistance in search for IPO venue, as major investors grow impatient
Nvidia Cedes Top Market Spot To Microsoft
Nvidia cedes title of most valuable US listed company back to Microsoft as Apple regains No. 2 spot amidst continued AI frenzy
OpenAI Co-Founder Ilya Sutskever To Start New AI Firm
Ilya Sutskever is creating a new AI firm, as part of his stated intention for a project that ‘personally meaningful’ to him
UK Investigates HPE’s $14bn Acquisition Of Juniper Networks
UK competition regulator begins investigation into the multi billion dollar acquisition of Juniper Networks by Hewlett Packard Enterprise
Fisker Files For Chapter 11 Bankruptcy
EV maker Fisker files for bankruptcy protection in the US – the second EV venture led by car designer Henrik Fisker to do so
Nvidia Overtakes Microsoft As Most Valuable Tech Firm
Nvidia dethrones Microsoft as world's most valuable tech firm, in ongoing market capitalisation battle of the big three
Adobe Shares Jump On AI Success
Adobe shares post biggest gains in more than four years after it reports user take-up of generative AI tools
Elon Musk Wins Shareholder Vote On Pay, Texas Incorporation
Shareholders at Tesla vote to reinstate Elon Musk's 'ridiculous' $56bn pay package, and approve incorporation in Texas
SEC Reaches $4.5bn Settlement With Bankrupt Terraform Labs
Terraform Labs and disgraced founder Do Kwon agree to pay the US SEC a combined $4.5 billion in civil fraud case
WeWork Emerges From Bankruptcy Protection
WeWork, once valued privately at $47bn and seen as future of workplace, emerges from bankruptcy protection in US
Tesla Investor Slams Elon Musk’s $56bn Pay Deal, Amid Another Lawsuit
Head of one of the largest pension funds in US to vote against Elon Musk's ‘ridiculous’ pay package, as another Tesla investor files lawsuit