A US federal judge has rejected a plea deal between Boeing and the Justice Department, creating uncertainty around the aerospace giant’s criminal prosecution in connection with the development of its bestselling 737 Max jetliner. The deal would have allowed Boeing to plead guilty to a felony conspiracy charge and pay a fine, but the judge…
The COP29 climate talks in Baku, Azerbaijan, have reached a last-minute deal on climate finance, with rich countries pledging to increase their contributions to at least $300 billion annually by 2035. However, low- and middle-income countries (LMICs) have expressed disappointment and frustration with the agreement, citing the lack of clarity on how much of the…
A Delaware judge has upheld a decision to deny Tesla CEO Elon Musk a multibillion-dollar pay package, rejecting the company’s argument to reverse the previous ruling. The judge found that Tesla’s board was too close to Musk and had not sufficiently protected shareholders’ interests. The decision comes after Tesla shareholders voted to reinstate the compensation…
Walmart has completed its acquisition of Vizio, a popular television maker, in a move to boost its advertising business. The $2.3 billion all-cash deal positions Walmart to become a leader in connected TV advertising, allowing the retail giant to combine its retail operations with TV hardware and gather customer data on viewing habits and shopping…
Intel’s CEO Pat Gelsinger has been forced out, marking a significant shift in the company’s leadership. Gelsinger’s departure comes as Intel struggles to regain its footing in the chipmaking industry, with a market value more than 30 times smaller than rival Nvidia. The company’s financial woes have been piling up, with a $16.6 billion loss…
A looming patent cliff threatens to disrupt the pharmaceutical industry, with over $200 billion in annual revenue at risk through 2030. However, this presents a significant opportunity for biosimilar developers to capitalize on the transition to more affordable treatments. Several companies, including Alvotech, Biocon Biologics, Celltrion, Formycon, and Samsung Bioepis, are already making strides in…
The crypto market is experiencing a historic comeback, driven by unprecedented political shifts and bold new ambitions from tech world leaders. President-elect Donald Trump’s pro-crypto stance and Elon Musk’s vision for X as a crypto-powered payment network are sparking a surge in interest in cryptocurrencies, particularly meme coins like Dogecoin and Shiba Inu. This shift…
Meta, the parent company of Facebook, Instagram, and WhatsApp, is taking a bold step in its infrastructure efforts by planning to build a $10 billion subsea cable that will span the world. This ambitious project, which is expected to be completed in several years, will give Meta a dedicated pipe for data traffic around the…
Indian food delivery app Zomato has raised $1 billion from institutional investors, marking its first major fundraise since its 2021 IPO. The company plans to use the funds to maintain competitive parity in the quick-commerce market, which is expected to generate over $6.5 billion in annual run-rate revenues. Zomato’s move comes as rival Swiggy has…
Alibaba’s Qwen team has released a new reasoning AI model, QwQ-32B-Preview, which has 32.5 billion parameters and can consider prompts up to 32,000 words in length. The model performs better on certain benchmarks than OpenAI’s o1-preview and o1-mini models and is available for download under a permissive license. QwQ-32B-Preview has shown promising results in solving…
