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Musk faces loss as X is now valued at less than a third of what Musk acquired it for
Elon Musk's investment in X, the former Twitter, has seen a significant decline in value, now amounting to less than a third of the original purchase price of $44 billion, as reported by Axios based on disclosures from Fidelity, a key player in facilitating the acquisition. Fidelity further reduced the valuation of its X holding
Google Settles $5 Billion Lawsuit Over Incognito Mode Tracking
Google has agreed to settle a consumer privacy lawsuit seeking a minimum of $5 billion in damages over accusations of tracking user data during what was believed to be private internet browsing. The focal point of the lawsuit revolved around Google's "incognito" mode in the Chrome browser, with plaintiffs contending that it provided users with
Protect yourself from cyber scammers during the festive season
The holiday season is a time associated with joy and festive cheer, also presents an increased risk of cyber threats, particularly as online activities surge. To safeguard yourself and your data during this festive period, it's essential to adopt extra vigilance. Here are crucial tips to enhance your cybersecurity: Public WiFi Awareness: When shopping in
Electric Vehicle sales in India grew by nearly 47% to 1.5 million units in 2023
India, a significant player in the global automotive industry, is shifting its focus towards adopting alternative fuels to combat pollution. This strategic move comes after the country has expanded its consumer and vehicle bases and established local manufacturing facilities over the past two decades. The pivotal year in this transition will be 2024, as India,
Kenyan Tappi, Secures $1.5 Million in Pre-Seed Investment Boost
Tappi, a Kenyan startup renowned for its chat tool that auto-generates web pages, has managed to raise $1.5 million in a pre-seed funding round that witnessed overwhelming investor interest. This two-year-old e-commerce venture garnered backing from prominent entities like Digital Currency Group, SOSV, Resilience17, growX ventures, Orbit Startups, and Reflect Ventures. Leading contributions came from
Mastercard’s contactless solutions is driving digital payment transformation in Nigeria
Mastercard has introduced its latest contactless payment solutions designed to facilitate easy and cost-effective card transactions for businesses. These solutions include features like "tap on the phone," "QR Pay by link," and "Payment link," all accessible via smartphones. The objective behind Mastercard's initiative is to offer affordable digital payment alternatives, particularly benefiting Small and Medium
Xiaomi reveals the EV SU7 sedan
Xiaomi, the renowned Chinese smartphone manufacturer, has unveiled its inaugural electric vehicle, the SU7 sedan. Set to debut in the Chinese market next year, Xiaomi's entry into the electric vehicle (EV) sector highlights the company's ambition to merge the sophisticated technology found in smartphones with automobile interiors. Xiaomi's potential success could be attributed to its
India set to block crypto exchanges Binance, Kraken websites
The Financial Intelligence Unit (FIU), a regulatory body in India overseeing financial transactions, declared on Thursday that nine prominent global cryptocurrency exchanges, including Binance, Kraken, Kucoin, and Mexc, are operating without proper adherence to the country's anti-money laundering regulations. As a result, the FIU has urged the IT Ministry to restrict access to these exchanges'
South Africa's private sector reduces dependence on Eskom for power supply
Eskom's sales have been on a downward trajectory as South Africa's corporate sector progressively reduces its dependence on the utility for power supply. In its half-yearly results ending September, Eskom reported a 5.9% decrease in sales volumes. The utility attributed this decline primarily to supply limitations, resulting in frequent power outages, reduced electricity demand due
Asian stocks open higher on fed rate hopes
Asian stocks kicked off positively on expectations of upcoming US rate cuts, with Hong Kong leading the charge. Tokyo initially dipped due to a strengthening yen influenced by Fed policy speculation. But the broader region showed optimism following the Fed signaling potential slowing of hikes amid cooling global inflation. Shanghai, Seoul, Sydney, Taipei, Wellington, Jakarta,
Fuel price set to drop in January
The outlook for 2024 is promising, as the Automobile Association (AA) anticipates a favorable start with a projected decrease in fuel prices next month. According to the AA, relying on unaudited data from the Central Energy Fund (CEF), there is a likelihood of a 54 cents per litre reduction in the price of 95 unleaded
OPPO introduces the A58 smartphone
OPPO has unveiled its latest addition to the A series lineup, the A58, aiming to elevate the entertainment experience across diverse scenarios. The smartphone, available in Glowing Black and Dazzling Green, boasts a sleek design weighing only 192g and measuring a slim 7.99 mm in thickness, ensuring a comfortable grip and convenient pocket fit. The
Indian journalists’ iPhones infected with Pegasus spyware
In late October, Apple's alerts suggesting that Indian journalists and members of the opposition might be under state-backed cyber-attacks elicited a strong rebuttal from Prime Minister Narendra Modi's administration. Rather than acknowledging Apple's concerns, government officials expressed skepticism and initiated an investigation into the security of Apple devices. While India has neither confirmed nor denied
The New York Times initiates lawsuit against OpenAI and Microsoft
The New York Times has initiated a lawsuit against OpenAI and its significant partner and investor, Microsoft, alleging copyright infringement. The Times asserts that without its explicit consent, its extensive content has been utilized to train artificial intelligence models, notably powering OpenAI’s ChatGPT and Microsoft’s Copilot. The lawsuit demands the dismantling of these models and
TUNL Secures $1M in Initial Funding Round
TUNL, a parcel shipping platform based in South Africa, has successfully raised $1 million in pre-seed funding. Key investors in this round include Founders Factory Africa, Digital Africa Ventures, E4E Africa, and Jozi Angels. Founded in 2022 by Matthew Davey as CEO and Craig Lowman as COO, TUNL emerged from Davey's prior role as the
Nigeria and South Africa nearing first-ever gas deal
Nigeria-based Riverside LNG revealed it is in talks to export gas to South Africa, which would represent the inaugural energy deal between the nations. Riverside, boasting Africa's largest gas reserves, recently signed an export agreement with a German partner and now pursues additional continental deals per CEO David Ige. Ige disclosed nearing finalization of an
Flying Taxis: Archer Aviation's Vision for Urban Air Mobility Takes Launched
Archer Aviation is at the cutting edge of urban air mobility, spearheading the creation of the Midnight, a revolutionary four-passenger electric vertical take-off and landing (eVTOL) aircraft. The dream of flying taxis, once confined to the realms of science fiction and futuristic visions, is on the brink of materializing into reality. At the Dubai Airshow,
Apple Watch US ban now operational
The U.S. prohibition on importing Apple Watches will persist, as the Biden administration chose not to overrule the International Trade Commission's (ITC) prior decision. Effective immediately, the ITC's verdict is now operational. In anticipation of this ban, Apple had already ceased sales of both the Apple Watch Series 9 and Ultra 2. Online sales were
CBS, Paramount owner National Amusements reveals it was hacked
National Amusements, the cinema chain and parent company overseeing media titans Paramount and CBS, has acknowledged a data breach wherein cybercriminals accessed the personal details of tens of thousands. The expansive media entity revealed in a mandatory disclosure to Maine’s attorney general that the breach in December 2022 compromised personal data of 82,128 individuals. This
Bluesky launches in-app video and music player and a new ‘hide post’ feature
Bluesky, the decentralized social network, is introducing a fresh in-app video and music player for linked content, along with a novel "hide post" functionality. These enhancements align Bluesky's user interface more closely with that of X (Twitter). This enhanced media player is compatible with platforms such as YouTube, SoundCloud, Spotify, and Twitch embeds. Contrary to