JULY SARL/CAEN

Telecom Italia to Get €250 Million in Inwit Stake Sale to Ardian

Telecom Italia to Get €250 Million in Inwit Stake Sale to Ardian

Telecom Italia SpA sold its remaining stake in mobile tower operator Infrastrutture Wireless Italiane SpA, picking up the pace in its drive to de-leverage and boosting cash flow beyond its full-year guidance levels.The carrier sold its indirect holding of about 3% in the tower company known as Inwit to a group led by French private equity firm Ardian SAS, according to a statement Tuesday. The one-time phone monopoly said it will cash in approximately €250 million ($273 million) from the deal, confirming an earlier report by Bloomberg. Source link lol
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South Africa Coal Export Line Will Need Five Years to Refurbish

South Africa Coal Export Line Will Need Five Years to Refurbish

South Africa’s state-owned rail company needs $669 million and five years to upgrade equipment to revive performance of its main export coal line, according to an internal report.Coal shipments plunged to a more than three-decade low of 48 million tons last year because of inefficiencies at Transnet SOC Ltd., which blamed lack of locomotives and spare parts for its woes. The two other major factors limiting the amount of the fuel shipped to the coast for export are infrastructure faults and issues with signaling systems, according to a final executive summary report seen by Bloomberg. Source link lol
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Sea Raises Sellers’ Fees to Above TikTok, Temu to Fatten Margins

Sea Raises Sellers’ Fees to Above TikTok, Temu to Fatten Margins

Sea Ltd.’s Shopee has raised the commissions it charges merchants in many core markets by about a third since the start of the year, underscoring the Southeast Asia e-commerce leader’s renewed attempt of boosting its bottom line.The moves, which haven’t previously been reported, reflect Sea’s growing confidence it can retain merchants in key markets, despite competition from TikTok, Temu and Lazada. Its commission now exceeds its rivals’, with its fee in Thailand rising to as much as 13% in July from 10% previously, according to its website. TikTok charges as much as 8% and Lazada up to 10%, according to…
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White Supremacists Turn UK Riots Into Online Recruiting Pitch

White Supremacists Turn UK Riots Into Online Recruiting Pitch

White supremacist groups have seized on riots in the UK as a recruiting opportunity, using the Telegram messaging site to promote conspiracy theories and incite violence in their bid to lure new members.Hard-line organizations previously designated by the UK as domestic terrorists are calling for an overthrow of the British government with posts that say “the revolution has started.” Some extremist Telegram users have openly discussed how to capitalize on anti-immigrant sentiment in the UK to steer Britons to radicalized communities, according to findings from Logically, a UK-based firm that tracks online disinformation. Source link lol
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TSMC Sales Grow 45% in July on Strong AI Chip Demand

TSMC Sales Grow 45% in July on Strong AI Chip Demand

Taiwan Semiconductor Manufacturing Co.’s revenue rose 45% in July, an early indication of strong demand for AI chips even as a global tech selloff underlined growing doubts about the technology’s potential.Sales for the month reached NT$256.95 billion ($7.9 billion). For the third quarter, analysts project TSMC revenue should grow 37% to NT$747.4 billion, with the July result suggesting TSMC may surpass those expectations. Source link lol
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AI Stock Rout Has Investors in Asia Mapping Out Next Catalyst

AI Stock Rout Has Investors in Asia Mapping Out Next Catalyst

Debate is raging on whether the AI rally has run its course but for some investors, another drawdown may be a chance to buy.Money managers in Asia are on the hunt for their next purchase even after the region’s tech stocks recorded their steepest ever two-day drop this week, reflecting an unwavering confidence in a trade that has underpinned the upturn in global equities. Taiwan Semiconductor Manufacturing Co., Samsung Electronics Co. and SK Hynix Inc. are still attractive bets given the long-term prospects for AI remain undimmed, they say. Source link lol
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Advertising Group Shuts Down After Elon Musk’s X Files Lawsuit

Advertising Group Shuts Down After Elon Musk’s X Files Lawsuit

The Global Alliance for Responsible Media, a prominent coalition of advertisers, dissolved on Thursday, just days after Elon Musk’s X filed a lawsuit against the organization. GARM was established in 2019 by the World Federation of Advertisers, a network of major businesses whose members include Nike Inc., McDonald’s Corp. and Procter & Gamble Co., among others. The coalition provided a set of widely-used guidelines for brand safety controls, which help advertisers prevent harmful content such as hate speech or violent content from appearing next to their advertisements on social media platforms and other places. Source link lol
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Paramount Takes $6 Billion TV Network Charge, Joins Warner Bros.

Paramount Takes $6 Billion TV Network Charge, Joins Warner Bros.

Paramount Global, the parent of Nickelodeon, MTV and other channels, took a second-quarter impairment charge of $5.98 billion on its cable networks, in yet another sign of weakness in the traditional TV industry.The company made the decision after reevaluating the businesses in light of declining profit projections, shifts in the cable-TV subscriber marketplace and the recently agreed-to merger with Skydance Media, according to a statement Thursday. Source link lol
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