The five investigations concern potential breaches by Alphabet Inc’s (GOOG), which owns Google, Apple Inc. (AAPL), and Meta Platforms, Inc. (META). Instigating these probes only two weeks after the DMA’s deadline shows the European Union (EU) is taking the legislation and gatekeeper compliance seriously. The law came into effect on 7 March 2024. It requires…
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The latter is an investment company managing an estimated $50bn in assets. ILC Dover specialises in the design and manufacture of biopharmaceutical and medical devices and also provides aerospace solutions. The organisation has 11 engineering and production facilities in Asia, North America and Europe. In terms of the agreement, Ingersoll Rand will pay approximately $2.3bn…
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The Belgian company confirmed that it won’t be making any more bids for Direct Line. This announcement came on Friday and followed two previous bids being turned down by Direct Line. The second of those bids, which valued each share at 239p ($4.62 AUD) and was worth £3.17bn ($6.13bn AUD), was rejected by the British…
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This took the loss in the year so far to 11%. Apple is no longer the world’s most valuable company, with Microsoft (MSFT) now having a market capitalisation of over $3tn, while Apple has slipped under that figure to around $2.65tn. Part of the reason for the recent fall is that nervousness has set in…
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The country also wants to sidestep Windows, Microsoft Corporation’s (MSFT) widely used operating system, and other internationally produced database software. The guidelines reportedly stipulated that all government bodies above the “township level” must adapt their procurement criteria to ensure that they acquire only “safe and reliable” microchips and software. In December 2023, China’s Ministry of…
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Trading kicked off at $47 per share and shot up to $57.80, a 70% spike, during the day. The company and its shareholders raised an estimated $750m, with Reddit pocketing approximately $519m. Its current market cap sits at $9.5bn. The success of the IPO at this price appears to back up the company’s decision to…
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At the end of January 2024, the wealth fund reported a record 2023 profit of $213bn and a current value of $1.6tn. Based on a Reuters report, Svein Richard Brandtzæg, the chairperson of the Council of Ethics, said that due to the Gaza conflict, it must determine which organisations sell weapons used in the war…
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This move would see shareholders get 49 extra shares for every share held on 18 June. Their plan still needs approval from their shareholders, which will be sought at their next annual meeting which is due to be held on 6 June. The post-split CMG stock will be traded from 26 June onwards if approved.…
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Suleyman also co-founded DeepMind, the artificial intelligence (AI) outfit bought by Alphabet Inc’s Google (GOOG) in 2014. Industry experts believe that this move fortifies Microsoft’s reputation as an AI stalwart in big tech circles and forms part of CEO Satya Nadella’s drive to acquire top expertise. Suleyman will head Microsoft’s new consumer AI unit, while…
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The group said that one of its brands, Gucci, saw sales that are likely to drop by approximately 20%. Kering further indicated that it will release its Q1 2024 financials on 23 April 2024. Bloomberg reported that the group experienced its toughest day on the trading floor since March 2020, as it lost around €6.3bn…
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