Category Archives: BUSINESS-FINANCE

London Duo Arrested for Allegedly Operating Illegal £1bn Cryptocurrency Exchange

London Duo Arrested for Allegedly Operating Illegal £1bn Cryptocurrency Exchange

Getty Images

London authorities have apprehended two individuals suspected of operating an illicit cryptocurrency exchange, believed to have facilitated trades exceeding £1bn in unregistered crypto assets. The Financial Conduct Authority (FCA) conducted a search of the suspects’ London offices, while the Metropolitan Police confiscated digital devices from two residences in the city. The exchange, allegedly run by […]

Mistral AI Secures €600mn Funding, Valuation Skyrockets to €6bn

Mistral AI Secures €600mn Funding, Valuation Skyrockets to €6bn

Mistral AI was established in mid-2023 in Paris by its three founders: Guillaume Lample, Chief Executive Arthur Mensch, and Timothée Lacroix. © Renaud Kahn

Mistral AI, a Paris-based artificial intelligence startup, has secured €600mn in new funding, propelling its valuation to nearly €6bn. This significant investment comes just a year after the company’s launch, positioning Mistral AI as a strong contender against OpenAI, with backing from tech giants like Microsoft and Nvidia. The funding round, tripling the company’s valuation […]

Tech Mogul Mike Lynch Fights Against US-UK Extradition Treaty Post-Acquittal

Tech Mogul Mike Lynch Fights Against US-UK Extradition Treaty Post-Acquittal

Mike Lynch was cleared by a San Francisco jury after an 11-week trial CREDIT: Simon Dawson/Bloomberg

Tech entrepreneur Mike Lynch is gearing up to challenge the UK’s extradition treaty with the US, following his acquittal of fraud charges after a six-year legal battle. Lynch, the founder of Autonomy, plans to collaborate with former Cabinet minister David Davis to push for treaty reform, which currently allows the US to extradite British citizens […]

Severe Turbulence on Singapore Airlines Flight: PM Promises Investigation

Singapore PM promises ‘thorough investigation’ after severe turbulence on flight from London

Singapore Airlines aircraft for flight SQ321 is parked on the tarmac after an emergency landing at a Bangkok airport following turbulence which left one dead. Photograph: Athit Perawongmetha/Reuters

Singapore’s Prime Minister has pledged a comprehensive investigation following a British passenger’s death and critical injuries to six others due to severe turbulence on a Singapore Airlines flight from London. The flight, carrying 211 passengers and 18 crew, made an emergency landing in Bangkok. Lawrence Wong, the Prime Minister, expressed his condolences to the family […]

Lowe’s Q1 Results Exceed Expectations Amidst DIY Slowdown

Lowe's Q1 Results Exceed Expectations Amidst DIY Slowdown

An exterior view of a Lowe's home improvement store at the Buckhorn Plaza shopping center. (Paul Weaver/SOPA Images/LightRocket via Getty Images) (SOPA Images via Getty Images)

Lowe’s (LOW) Q1 revenue surpassed expectations, reaching $21.36 billion, despite a decrease in DIY projects. This figure is slightly higher than the anticipated $21.13 billion. The company’s same-store sales saw a 4.1% decline, a minor improvement from the 4.3% drop in Q1 last year. Lowe’s noted a decrease in everyday customers’ purchases of big-ticket items. […]

Container Ship Responsible for Baltimore Bridge Collapse Returns to Port

Container Ship Responsible for Baltimore Bridge Collapse Returns to Port

BALTIMORE (AP) — The container ship that caused the collapse of Baltimore’s Francis Scott Key Bridge, resulting in six fatalities, was successfully refloated at high tide on Monday. The vessel, named Dali, is now gradually making its way back to port, assisted by several tugboats. The Dali had been stranded at the collapse site for […]

Defense Challenges Michael Cohen’s Credibility in Trump Hush Money Trial

Defense Challenges Michael Cohen's Credibility in Trump Hush Money Trial

Michael Cohen departs his apartment building on his way to Manhattan criminal court, Thursday, May 16, 2024, in New York. The prosecutors’ star witness in the hush money case against former President Donald Trump is returning to the witness stand as defense lawyers try to chip away at Cohen’s crucial testimony implicating the former president. (AP Photo/Andres Kudacki)

NEW YORK (AP) – In the ongoing hush money case against Donald Trump, defense lawyers focused on discrediting the key witness, Michael Cohen, during Thursday’s proceedings. As the trial nears its conclusion, the defense is working to undermine Cohen’s testimony, which is pivotal to the prosecution’s case. Cohen, Trump’s former attorney, took the stand for […]

Afreximbank to Establish African Energy Bank

Afreximbank to Establish African Energy Bank

The African Export-Import Bank (Afreximbank) has announced a groundbreaking initiative aimed at addressing the funding gap in Africa’s power sector. The bank, headquartered in Cairo, Egypt, has revealed plans to establish an energy bank that will focus on financing clean and renewable energy projects, promoting regional integration of energy markets, and supporting local content development. […]

Ghana Government Initiates Formal Negotiations with Trafigura to Resolve $140 million Judgement

Government Initiates Formal Negotiations with Trafigura to Resolve $140 million Judgement

The Ghanaian government has initiated formal negotiations with the Dutch commodities trading company Trafigura Beheer BV to resolve a $140 million judgement. The judgement was handed down by an arbitration tribunal in Amsterdam over the termination of a contract between the government and the company. The judgement had been pending since 2017, when the arbitration […]

Former President Donald Trump Set to Testify in $250 Million Civil Fraud Trial

Former President Donald Trump Set to Testify in $250 Million Civil Fraud Trial

Former President Donald Trump speaks to the media at New York State Supreme Court on Oct. 25. Stephanie Keith / Bloomberg via Getty Images

Former President Donald Trump faces a $250 million civil fraud trial – learn more about the case and what he has to say!

Sam Bankman-Fried’s Downfall Complete – How the Billionaire Financial Guru Lost it All

Sam Bankman-Fried's Downfall Complete - How the Billionaire Financial Guru Lost it All

image: reuters

Sam Bankman-Fried, the billionaire financial doyen who was once heralded as one of the world’s most successful hedge fund managers, has seen his career come to an abrupt end. After a stunning rise to fame and fortune, his dramatic downfall has been just as rapid. The financial prodigy, who once managed one of the world’s […]

Aker Energy’s Annual Payment to Joy FM Journalist Revealed: $125,000 Discovered.

Aker Energy's Annual Payment to Joy FM Journalist Revealed: $125,000 Discovered

In a surprising turn of events, Aker Energy, a prominent oil and gas company, has come forward with the disclosure of an annual payment of $125,000 to a journalist at Joy FM, a renowned radio station in Ghana. This revelation has sparked widespread discussions about the nature of this financial arrangement and its potential implications […]