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Microsoft Shares Slide as Cloud Forecast, AI Spending Disappoint
Despite beating quarterly overall sales estimates, investors want better results from the hundreds of billions of dollars that Wall Street heavyweights have been spending to build AI data centers and infuse their products with the emerging technology.
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KuCoin Pleads Guilty, Agrees to Pay Nearly $300 Million in US Crypto Case
KuCoin has pleaded guilty on Monday to operating an unlicensed money transmitting business. Prosecutors said Seychelles-based KuCoin had been used to facilitate billions of dollars of suspicious transactions, and to transmit potential criminal proceeds including from darknet markets and malware, ransomware and fraud.
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Gaza Development Put Back 60 Years By Israel-Hamas War: UN
The Israel-Hamas war has put back development in Gaza by 60 years and mobilising the tens of billions of dollars needed for reconstruction will be an uphill task, the United Nations said.
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Jeff Bezos Denies Report Of $600 Million Lavish Aspen Wedding: "Whole Thing Is Completely False"
The report alleged that Bezos and Sanchez are set to exchange vows on December 28 and spend over half a billion dollars on the extravagant event.
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Binance and Circle Partner in Bid to Boost USDC Stabecoin Adoption
Binance and Circle have partnered in an attempt to boost stablecoin adoption globally. As for Circle, its USDC stablecoin pegged against the US dollar could see adoption among Binance’s significant user base of over 200 million users.
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Elon Musk Spent Over A Quarter Billion Dollars To Help Elect Donald Trump
Elon Musk spent over a quarter of a billion dollars to help Donald Trump win November's presidential election, according to new filings, underscoring the influence one of the world's wealthiest people had on this year's White House race.
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4 Adani Group Bonds Rated 'Overweight', JP Morgan Says Liquidity Stable
Adani Group companies' liquidity needs seem stable after tabulating the near-term maturities for offshore debt, said JP Morgan. Adani Green bond issue - which has a decent-size loan of over a billion dollars - will be in focus, it added.
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Japan To Use AI Detection System To Tackle Online Manga, Anime Piracy
Japan is planning to use AI to police anime and manga pirating websites that the pop-culture powerhouse accuses of costing it billions of dollars in lost revenue every year.
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Elon Musk Urges Court to Block ‘Illegal’ OpenAI For-Profit Conversion
Elon Musk has repeated his earlier claims that OpenAI broke its promises to him and abandoned its founding purpose as a charity when it accepted billions of dollars in backing from Microsoft starting in 2019.
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Meet Ananda Krishnan, Malaysian Tycoon Whose Son Gave Up $5 Billion Empire To Become Monk
Ananda Krishnan is one of Malaysia's most influential and wealthiest individuals. In the past week, Mr Krishnan, also known as AK, has been in the limelight because of his son Ajahn Siripanyo, who gave up the world's riches to become a Buddhist monk.
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Lutnick’s Cantor in Talks With Tether About $2 Billion Bitcoin Lending Project
Tether currently uses Cantor’s custody business to hold the billions of dollars of US Treasuries that support the value of its dominant USDT stablecoin. That custody relationship earns Cantor tens of millions of dollars a year, according to people familiar with the matter.
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World's Longest Nonstop Flights To Get $821 Million Luxury Upgrade
The world's longest nonstop commercial flights are getting a major upgrade. Singapore Airlines (SIA) recently announced a multi-year program worth 1.1 billion Singapore dollars (about $821 million).
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Fintech Firm Stripe Has Reportedly Acquired Stablecoin Platform Bridge For Over a Billion Dollars
Stripe has reportedly spent $1.1 billion (roughly Rs. 9,248 crore) to acquire Bridge, a stablecoin platform that enables the issuance of stablecoins. Multiple reports have described this acquisition as the largest to date in the Web3 space.
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Samsung Electronics Says It Is Not Interested in Spinning Off Foundry Business
Samsung chairperson Jay Y. Lee has said that the company is not looking to spin off its businesses of contract chip manufacturing and logic chip designing operation. Analysts say the two businesses are incurring billions of dollars of annual losses due to weak demand and have been dragging down Samsung's overall performance.
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Adani Group To Raise $1.5 Billion Through Dollar Bonds
Billionaire Gautam Adani's conglomerate is in talks with global banks to raise at least $1.5 billion through dollar bond sales, a further indicator of the groups rebound from a short seller attack.
-
Microsoft Shares Slide as Cloud Forecast, AI Spending Disappoint
Despite beating quarterly overall sales estimates, investors want better results from the hundreds of billions of dollars that Wall Street heavyweights have been spending to build AI data centers and infuse their products with the emerging technology.
-
KuCoin Pleads Guilty, Agrees to Pay Nearly $300 Million in US Crypto Case
KuCoin has pleaded guilty on Monday to operating an unlicensed money transmitting business. Prosecutors said Seychelles-based KuCoin had been used to facilitate billions of dollars of suspicious transactions, and to transmit potential criminal proceeds including from darknet markets and malware, ransomware and fraud.
-
Gaza Development Put Back 60 Years By Israel-Hamas War: UN
The Israel-Hamas war has put back development in Gaza by 60 years and mobilising the tens of billions of dollars needed for reconstruction will be an uphill task, the United Nations said.
-
Jeff Bezos Denies Report Of $600 Million Lavish Aspen Wedding: "Whole Thing Is Completely False"
The report alleged that Bezos and Sanchez are set to exchange vows on December 28 and spend over half a billion dollars on the extravagant event.
-
Binance and Circle Partner in Bid to Boost USDC Stabecoin Adoption
Binance and Circle have partnered in an attempt to boost stablecoin adoption globally. As for Circle, its USDC stablecoin pegged against the US dollar could see adoption among Binance’s significant user base of over 200 million users.
-
Elon Musk Spent Over A Quarter Billion Dollars To Help Elect Donald Trump
Elon Musk spent over a quarter of a billion dollars to help Donald Trump win November's presidential election, according to new filings, underscoring the influence one of the world's wealthiest people had on this year's White House race.
-
4 Adani Group Bonds Rated 'Overweight', JP Morgan Says Liquidity Stable
Adani Group companies' liquidity needs seem stable after tabulating the near-term maturities for offshore debt, said JP Morgan. Adani Green bond issue - which has a decent-size loan of over a billion dollars - will be in focus, it added.
-
Japan To Use AI Detection System To Tackle Online Manga, Anime Piracy
Japan is planning to use AI to police anime and manga pirating websites that the pop-culture powerhouse accuses of costing it billions of dollars in lost revenue every year.
-
Elon Musk Urges Court to Block ‘Illegal’ OpenAI For-Profit Conversion
Elon Musk has repeated his earlier claims that OpenAI broke its promises to him and abandoned its founding purpose as a charity when it accepted billions of dollars in backing from Microsoft starting in 2019.
-
Meet Ananda Krishnan, Malaysian Tycoon Whose Son Gave Up $5 Billion Empire To Become Monk
Ananda Krishnan is one of Malaysia's most influential and wealthiest individuals. In the past week, Mr Krishnan, also known as AK, has been in the limelight because of his son Ajahn Siripanyo, who gave up the world's riches to become a Buddhist monk.
-
Lutnick’s Cantor in Talks With Tether About $2 Billion Bitcoin Lending Project
Tether currently uses Cantor’s custody business to hold the billions of dollars of US Treasuries that support the value of its dominant USDT stablecoin. That custody relationship earns Cantor tens of millions of dollars a year, according to people familiar with the matter.
-
World's Longest Nonstop Flights To Get $821 Million Luxury Upgrade
The world's longest nonstop commercial flights are getting a major upgrade. Singapore Airlines (SIA) recently announced a multi-year program worth 1.1 billion Singapore dollars (about $821 million).
-
Fintech Firm Stripe Has Reportedly Acquired Stablecoin Platform Bridge For Over a Billion Dollars
Stripe has reportedly spent $1.1 billion (roughly Rs. 9,248 crore) to acquire Bridge, a stablecoin platform that enables the issuance of stablecoins. Multiple reports have described this acquisition as the largest to date in the Web3 space.
-
Samsung Electronics Says It Is Not Interested in Spinning Off Foundry Business
Samsung chairperson Jay Y. Lee has said that the company is not looking to spin off its businesses of contract chip manufacturing and logic chip designing operation. Analysts say the two businesses are incurring billions of dollars of annual losses due to weak demand and have been dragging down Samsung's overall performance.
-
Adani Group To Raise $1.5 Billion Through Dollar Bonds
Billionaire Gautam Adani's conglomerate is in talks with global banks to raise at least $1.5 billion through dollar bond sales, a further indicator of the groups rebound from a short seller attack.
