Norway’s Wealth Fund Posts Biggest Quarterly Loss Since 2008
Norway's wealth fund, the world's largest, posted a loss of $34 billion in the third quarter of 2023, its biggest quarterly loss since 2008. A sharp decline in global stock…
GoDaddy Takes Customer Communication to the Next Level
About GoDaddy GoDaddy, the world's largest domain name registrar and web hosting provider, has announced its integration of the GoDaddy Conversations platform with Google's Business Messages. This makes GoDaddy Conversations…
Nvidia to Challenge Intel with Arm-Based PC Chips
Nvidia, the world's leading maker of graphics processing units (GPUs), is planning to make Arm-based PC chips, according to a report by Reuters. This would be a major new challenge…
Nokia Job Cuts: A Sign of the Times for the Telecom Industry
Nokia, the Finnish telecom equipment maker, announced on Thursday that it would cut up to 14,000 jobs, or 16% of its workforce, as it grapples with slowing 5G gear demand…
Bank of America’s Unrealized Losses on Securities Rise to $131.6 Billion
Bank of America's unrealized losses on securities rose to $131.6 billion in the third quarter of 2023, up from $123 billion in the second quarter, according to a regulatory filing…
Foxconn and Nvidia Team Up to Build ‘AI Factories’
Foxconn, the world's largest electronics manufacturer, and Nvidia, a leading chipmaker, have teamed up to build "AI factories." These factories will use Nvidia's chips and software to develop and produce…
Scotiabank Takes Charge in Fourth Quarter, Cuts Jobs to Reduce Costs
Canada's Scotiabank said on Wednesday that it would cut 3% of its global workforce and take a charge of C$590 million ($433.6 million) in the fourth quarter as it looks…
IBM to Acquire Octo, Boosting Its Digital Transformation Capabilities
On December 7, 2022, IBM announced that it would acquire Octo, a US-based IT modernization and digital transformation services provider exclusively serving the US federal government, including defense, health, and…
US-China Tech War Heats Up as Biden Expands Curbs on Chip Exports
In a move that is likely to escalate tensions with China, the Biden administration on Tuesday announced new export controls that will prohibit shipments of advanced artificial intelligence (AI) chips…
Amazon and Microsoft in Talks for $1 Billion Cloud Software Deal
Microsoft is in talks to sign Amazon as a customer for its Microsoft 365 cloud productivity tools in a deal worth over $1 billion, according to a report by Insider.…
