AOL and Yahoo are being sold again, this time to a private equity firm. Wireless company Verizon will sell Verizon Media, which consists of the once-pioneering tech platforms, to Apollo Global Management in a $5 billion deal. Verizon said Monday that it will keep a 10% stake in the new company, which will be called […]
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The hit video app TikTok said Friday that an executive at its Chinese parent company, ByteDance, will now also serve as TikTok CEO. The new CEO, Shouzi Chew, is the chief financial officer of ByteDance. He is based in Singapore, where TikTok has an office. Vanessa Pappas, based in Los Angeles, has been interim head […]
Dubai-based telco du announced Tuesday that is has raised a long-term debt finance of almost one billion dollars from a consortium of banks, as it looks to heavily grow and expand within the 5G market. According to operator, the debt will be split a $539 million five-year revolving credit facility and a $484 million seven-year […]
Finnish telecoms equipment vendor Nokia reported on Thursday a better-than-expected Q1 financial report, with revenue and profit bolstered by a growth in 5G equipment sales. According to the earnings report, quarterly revenues spiked at three percent to 5.08 billion euros ($6.16 billion), beating a consensus figure of 4.72 billion. “We expect our typical quarterly earnings […]
Ethiopia’s state-owned provider, Ethio Telecom, announced on Wednesday the rollout of its mobile money service TeleBirr, which will be made available to subscribers starting May 2021. The announcement comes just two days after two telcos – South Africa’s MTN and a consortium from Vodafone – made bids to enter the Ethiopian telecoms market, which is […]
China plans to launch the core module for its first permanent space station this week in the latest big step forward for the country’s space exploration program. The Tianhe, or “Heavenly Harmony” module is set to be hurtled into space aboard a Long March 5B rocket from the Wenchang Launch Center on the southern island […]
A new generation of startups wants to disrupt the way houses are built by automating production with industrial 3D printers. 3D printing, also known as additive manufacturing, uses machines to deposit thin layers of plastic, metal, concrete and other materials atop one another, eventually producing three-dimensional objects from the bottom up. In recent years, 3D […]
A German software developer who made a fortune from bitcoin has given the environmentalist Green Party one of the biggest political donations in the country’s history in hopes it will win this year’s national election — and consider banning the digital currency. Moritz Schmidt’s donation of 1 million euros ($1.2 million) to the Greens made […]
Chinese food delivery giant Meituan raised nearly $10 billion in a sale of convertible bonds and additional shares and plans to invest those funds in developing and expanding delivery technologies. The Beijing-based firm, China’s largest food delivery platform, said in a filing to the Hong Kong stock exchange that it sold 187 million additional shares […]
Risky uses of artificial intelligence that threaten people’s safety or rights such as live facial scanning should be banned or tightly controlled, European Union officials said Wednesday as they outlined an ambitious package of proposed regulations to rein in the rapidly expanding technology. The draft regulations from the EU’s executive commission include rules for applications […]