Technology - CybAI news

07 Aug

Suspected Foreign Agitators Boost UK Extremists to Inflame Riots

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Suspected foreign state-backed actors and UK domestic extremists have coalesced online to stoke racism and incite violence across the UK, taking advantage of services from TikTok to the messaging service Telegram.Over the last 10 days, channels on the social media site Telegram, prominent accounts on X and self-described British patriots on ByteDance Ltd.’s TikTok have pushed users to appear at centers for asylum-seekers and take part in demonstrations that later turned violent. Other accounts have spread false allegations about members of the Islamic community. Source link lol

07 Aug

Instacart Posts Sales Beat, Issues Strong Earnings Outlook

stp2y0 CommentsRAG modelsadvertising, artificial intelligence, Consumer Spending, DOORDASH INC - A, Earnings, jobs, MAPLEBEAR INC, san francisco, Taxes, Technology, UBER TECHNOLOGIES INC

Instacart posted better-than-expected sales in the second quarter, signaling that the grocery-delivery business has a strong enough user base to support its longer-term bet on advertising.Revenue gained to $823 million, far surpassing analysts’ expectations of $806 million. The value of orders placed during the quarter totaled $8.19 billion, also beating estimates. That’s even while the San Francisco firm reported that overall orders grew at a slower pace than expected. Source link lol

07 Aug

Lazard Brokers Sale of Africa Payment Firm OMOA to Tunisia’s SPE

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Private equity investor Adenia Partners Ltd. said it will sell its 100% stake in African payments firms OMOA to Tunisia-based SPE Capital in a deal brokered by Lazard Inc.The deal, for an undisclosed price, will complete Adenia’s exit from the €96 million ($105 million) fund that purchased the stake alongside other holdings, head of investor relations Mack Schow said in an interview. Source link lol

07 Aug

Sony Raises Outlook After Music, Software Help Earnings Beat

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Sony Group Corp. raised its forecast for revenue and profit in the fiscal year to March after a successful quarter for its music and gaming software divisions.The Japanese entertainment giant said its operating profit during the three months ended June was ¥279.1 billion ($1.9 billion), beating the consensus estimate of ¥273.9 billion and the year-earlier profit of ¥253 billion. Sales for the fiscal year are now expected to come in at ¥12.6 trillion, with ¥1.3 trillion yen in operating profit, both slightly raised. Source link lol

07 Aug

SoftBank Unveils $3.4 Billion Buyback Ahead of Next Big AI Bet

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SoftBank Group Corp. announced a buyback worth up to ¥500 billion ($3.4 billion), following a month of sharp selloffs and pressure from activist investor Elliott Investment Management to bolster its stock price.The Tokyo-based technology investor plans to buy up to 6.8% of its free-floating outstanding shares in the year to August 7, 2025, according to a release Wednesday. The announcement comes after Elliott built a sizable stake in SoftBank this year and had pushed for a $15 billion buyback, people familiar with the matter said in June. Source link lol

07 Aug

Philippine Fintech GCash Still Eyeing IPO After MUFG Investment

stp2y0 CommentsRAG modelsAYALA CORPORATION, Ernest Lawrence Cu, fintech, GLOBE TELECOM INC, IPOs, Martha Sazon, media, MITSUBISHI UFJ FINANCIAL GRO, Philippines, Technology, Valuation

The Philippines’ top mobile payments provider GCash is still keen on going public after its latest investment round pushed the fintech company’s valuation to $5 billion.“We recognize that the new round of investments further strengthens Mynt’s ability and position coming into an IPO,” Globe Fintech Innovations Inc. CEO Martha Sazon said Wednesday. Globe Fintech, or Mynt, is the parent of GCash and the entity that will do the initial public offering. Source link lol

07 Aug

Tesla Recalls 1.6 Million Cars in China Over Hood-Lock Problem

stp2y0 CommentsRAG modelsAutomotive, china, europe, France, Government, JULY SARL/CAEN, regulation, retail, software, Technology, TESLA INC

Tesla Inc. has recalled most of the cars it’s ever sold in China due to an issue that could leave an unlocked hood to go unnoticed, creating a potential safety hazard, according to a notice by the state market regulator.A latch assembly issue may at times prevent the driver from being alerted about an unlocked front hood, which could allow the hood to fully open with the vehicle in motion, increasing the risk of a collision, according to a recallBloomberg Terminal notice by the State Administration for Market Regulation on Tuesday. Source link lol

07 Aug

Reddit Sales Exceed Analysts’ Expectations on Advertising Growth

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Reddit Inc. said it expects steady revenue growth from new data licensing partnerships and advertising technology, charting its path forward as a newly public company.Current-quarter sales will be $290 million to $310 million, Reddit said Tuesday in a statement. Analysts had forecast $281.8 million, according the average of estimates compiled by Bloomberg. Source link lol

07 Aug

Coupang Posts First Loss Since 2022 as Farfetch Deal Saps Profit

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Coupang Inc. posted its first loss in two years, after the acquisition of unprofitable Farfetch Holdings Plc and a government regulatory fine offset strong growth in its core e-commerce business.South Korea’s largest online retailer posted a net loss of $77 million for the June quarter, versus an average estimate for a loss of $11.7 million. Excluding Farfetch and a fine from the Korean authorities, Coupang’s second-quarter net income came to about $124 million, it said in a statementBloomberg Terminal. Source link lol

07 Aug

South Korea Logs Biggest Current Account Since 2017 on AI Demand

stp2y0 CommentsRAG modelsartificial intelligence, Earnings, Economic Growth, Exports, Imports, Interest Rates, JULY SARL/CAEN, Raw Materials, SAMSUNG ELECTRONICS CO LTD, South Korea, Technology

South Korea’s current account recorded the biggest surplus in more than six years, boosted by global demand for chips used in artificial intelligence and other technology exports that have underpinned the nation’s economic growth.South Korea logged a net $12.3 billion current account surplus in June, the most since September 2017, with semiconductors and communications devices leading the export growth while imports of raw materials and capital goods fell, according to balance of payments data released Wednesday by the Bank of Korea. Net assets in the financial account also increased by $12.2 billion, the most since October 2020. Source link lol