Business news

Business

Do NFTs create value in games? There are at least three ways to look at it

When blockchain is introduced into video gaming, the economy and sometimes the entire design of such games focus on artificial scarcity and ownership of game items. However, this approach overlooks some of the most important ...

Business

Historic funding round values OpenAI at $157 billion

New funding propelled ChatGPT-maker OpenAI to a valuation of $157 billion, the company said on Wednesday, sealing its place as the world leader on artificial intelligence.

Business

Samsung says planning job cuts in some Asian operations

Samsung Electronics said Wednesday it was planning to cut jobs in some of its Asian operations, after a report that one in ten posts in affected markets could be axed.

Business

X agrees to pay Brazil fines, court orders finances unblocked

A Brazilian judge on Tuesday ordered the unblocking of the bank accounts of Elon Musk's X in the country after the social media platform agreed to pay more than $5 million in fines.

Business

Tech industry urges G7 to unify cloud security standards

A leading tech industry group on Tuesday called on G7 nations to harmonize cloud security certification across the world's richest nations, in an effort to stoke cooperation and counter calls that data should stay within ...

Business

Google to invest $1 billion in Thailand

Google plans to invest $1 billion to build digital infrastructure in Thailand, including a new data center, the US tech giant has announced, saying the move would support 14,000 jobs in the kingdom.

Business

High costs slow widespread use of heat pumps in UK, study shows

The high cost of installing heat pumps for home heating could slow down people widely adopting the technology and leave government targets missed, research suggests. There has been a little to no reduction in the average ...

Business

US fund to buy German energy firm Techem for 6.7 bn euros

US private equity firm TPG said Tuesday it planned to buy German metering company Techem for 6.7 billion euros ($7.4 billion), highlighting the growing interest in energy efficiency solutions for the buildings sector.

Consumer & Gadgets

Will Meta's Orion smart glasses be the next 'iPhone moment'?

Meta supremo Mark Zuckerberg unveiled Orion smart glasses, a new augmented reality (AR) prototype, at the annual Meta Connect developer conference. Ten years in the making, and still not expected on high streets until 2027, ...

Business

For Google Play, dominating Android world was 'existential'

Google agreed to pay $8 billion over four years to Samsung Electronics Co. to make its search engine, voice assistant and Play Store the default on the company's mobile devices, according to testimony presented by Epic Games ...

Business

Meta to appeal over tough EU curbs on digital giants

Facebook owner Meta said on Wednesday that it would appeal the inclusion of its Messenger and Marketplace products in tough curbs on digital giants that the EU unveiled in September.

Business

Snapchat to add in-app Amazon shopping

Amazon on Tuesday confirmed it is partnering with Snapchat-parent Snap to let users of the ephemeral messaging service buy things from the online retail titan without leaving the app.

Business

After rescue deal, Siemens Energy unveils massive loss

Siemens Energy reported a 4.59-billion-euro ($5-billion) annual loss Wednesday, dragged down by a crisis in its wind power unit, a day after a government-backed rescue package was unveiled for the German group.

Business

UK govt urges food delivery firms to step up vetting

The UK government on Tuesday urged online food delivery platforms such as Uber Eats, Just Eat and Deliveroo to step up driver vetting to protect people and prevent unauthorized immigrants working illegally.

Business

Musk's X fails to pay Australian watchdog fine

Elon Musk's X has not paid a fine imposed for failing to outline its plans to stamp out content depicting child sexual abuse on the platform, Australia's internet safety watchdog told AFP on Tuesday.

Business

China's 'Singles Day' shopping bonanza loses its luster

China's annual "Singles Day" sales bonanza wraps up at midnight on Saturday, but consumers this year appear largely unswayed by its flashy deals and discounts as the world's second-largest economy slows.