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Companies & CEOs

Cognition AI plans to raise investment at a $40 billion valuation

Cognition AI plans to raise investment at a $40 billion valuation
AI startup Cognition AI is negotiating with investors for a new funding round, aiming for a valuation of at least $40 billion, as reported by Bloomberg, which cites sources close to the situation. The agency points out that this would elevate...

Saudi Aramco to restore Jazan refinery operations no earlier than August 30

Saudi Aramco to restore Jazan refinery operations no earlier than August 30
Saudi Arabian Oil Co. (Saudi Aramco) has delayed the initial restart date for its Jazan refinery by a fortnight, now set for August 30, according to Reuters, referencing data from consulting company IIR. Saudi Aramco did not reply to a request for...

Bezos sells $350 million in Amazon shares at near-record price

Bezos sells $350 million in Amazon shares at near-record price
Jeff Bezos sold almost $350 million in Amazon stock after the firm’s papers hit an all-time high, according to Bloomberg, which references notifications. Bezos sold 1.2 million shares of Amazon for $286.40 per share. The billionaire has announced...

Boeing 737 Max 7 is certified in the United States after nearly decade-long delay

Boeing 737 Max 7 is certified in the United States after nearly decade-long delay
The US Federal Aviation Administration (FAA) announced that the Boeing 737 Max 7 has been certified almost a decade after its development began. The agency indicated that the approval came after "years of efforts to address intricate technical...
Markets & Industries

IEA forecasts decline in global oil refining capacity by 2.5 million bpd in 2026

IEA forecasts decline in global oil refining capacity by 2.5 million bpd in 2026
The International Energy Agency (IEA) forecasts a drop in global oil refining capacity of 2.5 million barrels per day (bpd) by 2026. By 2027, the agency anticipates a recovery of refining capacity by 3.5 million bpd. In July, worldwide refining...

Norway's sovereign wealth fund reports record profits and discloses stake in SpaceX

Norway's sovereign wealth fund reports record profits and discloses stake in SpaceX
Norway's Government Pension Fund, the biggest sovereign wealth fund globally with $2.3 trillion in assets, achieved record earnings in the first half of the year, according to CNBC, which references the fund's financial reports. During the period...

The US to pay Germany's RWE $1.2 billion for abandoning its wind farm projects

The US to pay Germany's RWE $1.2 billion for abandoning its wind farm projects
German energy firm RWE declared it will withdraw from its offshore wind farm initiatives in the US, securing $1.2 billion in reimbursement from the Department of the Interior. The company points to the "inability to execute these projects in the US...

Reuters: Hackers attack dozens of largest US financial companies

Reuters: Hackers attack dozens of largest US financial companies
Ransomware attackers, utilizing phone calls to infiltrate systems, have targeted numerous US financial firms in the last month, as reported by Reuters, referencing Google and data acquired by the agency itself. The hackers created counterfeit...
In-depth coverage

European Tech Sovereignty: Europe Enters the Era of Exascale with the Inauguration of the Jupiter Supercomputer

Europe has taken a giant leap in technological development and supercomputing sovereignty with the launch of its first exascale computer in Germany. JUPITER, built using American chips but set to develop further with the integration of European microprocessors in 2026, is capable of performing over one quintillion (10¹⁸) operations per second, immediately cementing its place as Europe’s mos...
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World & Politics

European Commission attempts to reconcile Italy and Spain over the Ceuta crisis

European Commission attempts to reconcile Italy and Spain over the Ceuta crisis
Politico highlighted the reconciliation between Italy and Spain regarding their contentious political disagreement over border controls as the European Commission's (EC) main focus this week. The conflict arises from incidents in the Spanish...

Ebola death toll in DR Congo rises to 1,960

Ebola death toll in DR Congo rises to 1,960
The number of fatalities from Ebola in the Democratic Republic of Congo (DRC) has increased to 1,960, with 4,294 cases confirmed, EFE reported on Monday, referencing the nation's authorities. 722 patients are either hospitalized or in isolation, and...

UN: Global food prices rise due to abnormal heat

UN: Global food prices rise due to abnormal heat
The International Food Price Index increased by 0.6% in July from the prior month and 1% compared to the same month last year, hitting its highest point since January 2023, as reported by the Food and Agriculture Organization of the United Nations...

Shipping associations call on the UN to oppose tariffs on ships in the Strait of Hormuz

Shipping associations call on the UN to oppose tariffs on ships in the Strait of Hormuz
Major shipping associations have urged the UN to reject the implementation of tariffs and service fees for vessels traversing the Strait of Hormuz, CNN reports, referencing their collaborative open letter. The letter, dated August 3, was sent to the...
Management & Strategy

The Porsche family demands swift restructuring of Volkswagen

The Porsche family demands swift restructuring of Volkswagen
Porsche Automobil Holding (Porsche SE), the holding company overseen by the Porsche family and owning 53% of the voting shares in the Volkswagen Group (VW), has insisted that the automaker implement a prompt restructuring. Porsche SE CEO Hans Dieter...

Intel plans job cuts in data center division

Intel plans job cuts in data center division
Intel Corp., a top manufacturer of computer components globally, is reportedly planning another wave of layoffs, according to CNBC, referencing a company representative. Intel has reduced around 5,000 jobs in the U.S., mainly in California and...

British authorities will oblige banks to train employees in AI

British authorities will oblige banks to train employees in AI
The UK Treasury is developing a "skills compact" that will mandate the top banks in the country to reskill their workforce to handle the "artificial intelligence revolution." The Guardian reports that new guidelines from the Treasury might be...

Heineken appoints outside director for the first time in its history

Heineken appoints outside director for the first time in its history
Heineken has named Rafael Oliveira, the CEO of coffee firm JDE Peet's, as its first-ever CEO, according to the Financial Times. This marks the first instance in the history of the Dutch brewery where an external director has been named CEO....