Business, Economy

“India approves three chip plants with over $15 billion in investments to realize semiconductor ambitions”

“India has approved building three semiconductor plants with investments of more than $15 billion as the country aims to become a major chip hub… India has ambitions to become a major chip hub on the lines of the U.S., Taiwan and South Korea,… Continue Reading…

Business

“AI startup Glean lures Citigroup as investor at $2.2 billion valuation after revenue quadruples”

“… …” https://www.cnbc.com/2024/02/27/glean-is-worth-2point2-billion-as-citigroup-databricks-workday-invest.html Right now AI is where the money is.

Economy

“Credit card debt hits a ‘staggering’ $1.13 trillion…”

“Americans now owe a collective $1.13 trillion on their credit cards, according to a new report on household debt from the Federal Reserve Bank of New York. Credit card balances increased by $50 billion, or roughly 5%, in the fourth quarter of 2023,… Continue Reading…

Business, Economy

“Credit card debt increases by $50B to new record high”

“Credit card debt in the United States increased by $50 billion in the fourth quarter of 2023, according to recent findings from the New York Federal Reserve. The latest report, released Tuesday, found the total credit card balances stood at $1.13 trillion… Continue Reading…

Business

“Novo Nordisk parent to buy Catalent for $16.5 billion to expand Wegovy supply”

“Danish drugmaker Novo Nordisk’s parent company, Novo Holdings, on Monday said it will acquire drug manufacturer Catalent in a $16.5 billion deal that could help boost the supply of the highly popular weight loss injection Wegovy and diabetes shot Ozempic… Novo Nordisk will then buy three of Catalent’s manufacturing… Continue Reading…

Stocks

“BP earns $3 billion at the end of last year but saw its annual profit fall by half from 2022”

“Oil and natural gas giant BP beat expectations on Tuesday with earnings of $3 billion in the last three months of 2023, bringing last year’s total to half its record 2022 profit as energy prices have fallen since spiking after Russia’s invasion… Continue Reading…

Cryptocurrencies

“German Police Seize $2.1B Worth of Bitcoin in Piracy Sting”

“Police in Germany have provisionally seized 50,000 bitcoin {{BTC}} worth $2.17 billion, calling the action its largest cryptocurrency seizure ever, according to a police statement. The claim is related the operation of a piracy website in 2013 that violated the Copyright… Continue Reading…

Business

“World’s largest sovereign wealth fund posts record $213 billion profit, boosted by tech stocks”

“Norway’s giant sovereign wealth fund on Tuesday reported record profit of 2.22 trillion kroner ($213 billion) in 2023, supported by robust returns on its investments in technology stocks. The so-called Government Pension Fund Global, one of the world’s largest investors, said the… Continue Reading…

Business

“Crypto entrepreneur charged with defrauding investors out of $150 million through marketing scheme”

“Federal prosecutors on Friday announced charges against a German businessman, alleging he scammed investors out of more than $150 million in a crypto fraud scheme. Prosecutors said Horst Jicha promoted USI Tech, the company he founded and helmed as its CEO, as a crypto mining and… Continue Reading…

Business

“Burger King owner will buy out its biggest franchisee in US for about $1 billion”

“The parent company of Burger King is buying out its biggest franchisee in the U.S. for about $1 billion and will renovate hundreds of its locations. Restaurant Brands International Inc. will acquire all of the issued and outstanding shares of… Continue Reading…