Results for: Business

Shiba Inu (SHIB) has successfully raised $12 million in funding to develop a new privacy blockchain. The funds were acquired through the sale of TREAT tokens, which will be utilized in the blockchain’s operations. This latest initiative marks the final non-stable token for SHIB and will incorporate Fully Homomorphic Encryption (FHE), enhancing security for crypto traders. Despite a modest increase of 0.47%, SHIB’s trading volume has decreased by 28.7% over the past 24 hours. Additional noteworthy crypto news includes market insights following the Bitcoin halving and potential millionaire-making Metaverse cryptos.

The City of Baltimore is holding the owner and manager of the container ship that took down the Francis Scott Key Bridge liable for the deadly collapse. Grace Ocean Private Ltd. and Synergy Marine Pte Ltd. are accused of negligence for allowing an unfit vessel with an incompetent crew to sail, causing the disaster that killed six roadwork crew members. The city argues that the companies should be held fully responsible for the economic devastation caused by the port’s closure and disruption of the trucking route.

Apple has scheduled a special online event titled ‘Let Loose’ for May 7, hinting at potential announcements of new iPad hardware and accessories. Industry experts and fans on social media speculate that the event may unveil a new Magic Keyboard, an enhanced Apple Pencil with swappable tips and ‘Find My’ integration, and a ‘squeeze’ gesture. Additionally, rumors suggest the possibility of a new iPad Pro lineup boasting OLED displays and slimmer designs.

SunPower, a solar energy provider, disclosed misstatements in its 2022 financial results. These errors led to an anticipated $15 million to $25 million reduction in pre-tax income. The misstatements involve improper capitalization of deferred expenses and incorrect classification of sales commissions. SunPower previously raised concerns about its ability to operate as a going concern, citing a potential credit agreement breach due to delayed financial reporting caused by inventory issues. The company’s ongoing financial review raises the possibility of further errors.

Artificial intelligence (AI) stocks, including Nvidia (NVDA), have experienced a bullish year despite recent setbacks. Keybanc maintains its “overweight” rating on NVDA, highlighting its potential to capitalize on the surge in AI adoption. Other analyst firms have also expressed optimism about the chipmaker’s prospects.

JD Sports, the leading British sportswear retailer, has announced the acquisition of its American counterpart, Hibbett, for a substantial $1.1 billion (£878 million). This strategic move is expected to significantly accelerate JD’s growth in the lucrative North American market. The acquisition will expand JD’s presence in the US by adding Hibbett’s extensive network of 1,169 stores across 36 states. Furthermore, the deal will bolster JD’s relationships with major suppliers like Adidas and Nike.

Lounge, a restaurant chain known for its vibrant atmosphere and diverse menu, is expanding its presence across the UK. Despite having more outlets than popular brands like Prezzo and Wagamama, Lounge has maintained a low-key profile due to its unique branch names and appearances. However, enthusiastic fans have praised the chain for its superior ambiance compared to Wetherspoons. Lounge’s menu caters to various dietary preferences, offering a selection of vegetarian, vegan, and gluten-free dishes. In the coming months, Lounge is set to add seven new locations to its portfolio, bringing the total number of restaurants to over 200. These new branches include:

Banks are offering fewer cash incentives to entice customers to switch providers, with several major banks recently ending their offers. However, experts advise consumers not to be deterred from finding a better current account deal, as other perks and benefits are still available.

Google has fired at least 20 more workers in the wake of protests over technology the company is supplying the Israeli government amid the Gaza war, bringing the total number of terminated staff to more than 50. The company said it fired the additional workers after its investigation gathered details from coworkers who were “physically disrupted” and it identified employees who used masks and didn’t carry their staff badges to hide their identities. Google disputed the group’s claims, saying that it carefully confirmed that “every single one of those whose employment was terminated was personally and definitively involved in disruptive activity inside our buildings.”

Destiny Tech100, a recently launched fund, has caused a stir among investors with its volatile performance and access to private technology companies. Despite concerns raised by Morningstar and competitor ARK Investment Management about its high fees and structure, Destiny Tech100 has seen significant interest from retail investors, contributing to its rapid growth. The fund’s founder, Sohail Prasad, aims to provide wider access to pre-IPO companies typically reserved for affluent investors. ARK Investment Management, led by Cathie Wood, has its own fund in this space, named ARK Venture Fund, but it has faced challenges attracting investors. Despite criticism, Prasad remains confident in Destiny Tech100’s approach, emphasizing its simplicity and liquidity. Both ARK and Morningstar have raised concerns about Destiny Tech100’s high fees and structure, but Prasad believes the fund offers a valuable opportunity for investors to access private market opportunities.