Author: Akin Naphtal

US-based technology giant, Microsoft’s stock market value has surpassed the $3 trillion mark for the first time, making it the world’s second most valuable company, just behind rival Apple. The software maker’s shares reached a record high of $405.63, experiencing a 1.7% increase that propelled the company’s market capitalization above $3 trillion. However, it closed slightly below the threshold at $402.56, resulting in a valuation of $2.99 trillion. Apple, with a market value of $3 trillion, maintained its lead as the most capitalised stock. Microsoft’s investments, including its backing of OpenAI, the creator of ChatGPT, have positioned it as a…

Cribl, the data engine for IT and Security, has announced the launch of Cribl for Startups, a new program to support early-stage startups that are building the next generation of data solutions for IT and Security. Participating startups receive access to Cribl’s full suite of products via Cribl.Cloud, mentorship from product, revenue, and marketing leaders, and co-marketing opportunities to bring innovative data products to market. The program is designed to build an ecosystem of next generation data companies focused on creating innovative solutions for IT and Security. Application for the Cribl for Startups program is open this week and available…

CGI announces to the public that the National Bank of Canada has renewed its partnership with CGI for 10 years. CGI will deliver a wide range of technology services and market-leading solutions to help the Bank further enhance its client experience and drive operational excellence. “CGI is a trusted partner in the financial services sector,” says Julie Levesque, Executive Vice-President – Technology and Operations, National Bank of Canada. “We value CGI’s expertise and commitment to excellence that will play an important role in our ongoing efforts to meet the evolving needs of our clients and stay at the forefront of…

For much of 2023, the growth of the BRICS alliance dominated the geopolitical sector. Indeed, the alliance garnered headlines following last year’s Annual Summit when it announced a six-country expansion plan. Subsequently, it was the bloc’s first such growth plan since it added South Africa two decades ago. Heading into 2024, all eyes are on the development of a BRICS currency. Although the details of the project are sparse, work on such a concept has been rumored to be well underway. Now, amid the BRICS initiative, both Russia and India have partnered to create a digital economy. The Minister of…

Britain’s Government Communications Headquarters (GCHQ) has issued a stark warning about the growing risk of cyberattacks fueled by the rapid development of Artificial Intelligence (AI) tools. In a report released by the National Cyber Security Centre (NCSC), a GCHQ division, concerns were raised about the potential lower entry barriers for less sophisticated hackers to engage in digital harm, driven by the accessibility of AI tools. The report stressed that the increased use of AI in cyber operations is expected to amplify both the volume and impact of cyberattacks over the next two years. However, the impact is likely to be…

Netflix has exceeded Wall Street expectations for its fourth-quarter subscriber growth, achieving 13.1 million subscribers, which marks the streaming giant’s largest-ever fourth-quarter subscriber growth and brings its total subscriber base to 260 million. Despite falling short of consensus estimates for per-share earnings, with the streaming service reporting $2.11 compared to the expected $2.22 per share, Netflix saw its shares surge by 8.3% in after-hours trading. The company attributed the per-share earnings dip to a $239 million non-cash loss related to currency exchange rates. However, its revenue reached $8.8 billion, surpassing forecasts and its own guidance of $8.7 billion for the…

Tesla is reportedly working on a new affordable electric vehicle (EV) model codenamed “Redwood,” that aims to compete with mass-market brands, with CEO, Elon Musk, setting a target price of around $25,000 for this new model, according to sources. The “Redwood” model is expected to play a key role in Tesla’s strategy to offer more cost-effective electric cars and compete with cheaper gasoline-powered vehicles and affordable EVs from other manufacturers, such as China’s BYD, which Tesla has previously fell behind in terms of global electric vehicle production. Elon Musk had initially promised a $25,000 car in 2020, but delays prevented…

JSW Steel USA has agreed with Primetals Technologies to upgrade the slab casting infrastructure at its Mingo Junction, Ohio plant in the US. The project encompasses steelmaking, secondary metallurgy, and continuous casting processes. It is expected to enable JSW Steel USA to produce a wider range of slab steels, diversifying its product portfolio for additional markets. The work on the project will be completed in the second half of 2025, the statement disclosed. Primetals Technologies will install a 230-tonne vacuum tank degasser (VTD) with a dry mechanical vacuum pump system. This will be North America’s largest twin-station VTD, allowing JSW…

SIX, a prominent financial information provider, has significantly enhanced its ESG and regulatory risk data services. According to Asset Servicing Times, in a strategic move to address the growing need for comprehensive climate-related information, SIX has introduced an innovative climate data product. This development is poised to reshape the landscape of climate risk assessment and decision-making in the FinTech sector. The newly launched product amalgamates a variety of data sets, encompassing regulatory, historical, and predictive elements of climate impacts. It offers an extensive coverage, featuring modelled and reported emissions data for over 33,000 companies spanning diverse geographies and industries. This…

German software firm, SAP SE, has seen its shares surge by an all-time high of 7% following its announcement of a growth forecast in cloud revenue, and plans to restructure roles for 8,000 jobs, focusing on artificial intelligence (AI)-driven business areas. SAP intends to invest €2 billion ($2.2 billion) in a program to retrain employees with AI skills or replace them through voluntary redundancy programs. The company, which expects to end 2024 with a similar headcount, has been experimenting with OpenAI’s ChatGPT and aims to embed AI technology in its products. SAP also plans to invest over $1 billion in…