Elon Musk's SpaceX has approached artificial intelligence startup Cognition AI with a potential acquisition offer, sources familiar with the matter told Bloomberg. According to one source, Cognition was not considering an acquisition offer. The sources also said that discussions are underway regarding cooperation, including the possibility of providing SpaceX with computing power. SpaceX is...

Luigi Lovaglio, CEO of Banca Monte dei Paschi di Siena SpA, is contemplating the acquisition of two smaller Italian banks, Banco BPM and Banca Generali, as reported by Il Sole 24 Ore, referencing sources. They anticipate that the agreements will be executed via a share exchange. Lovaglio, who continued leading the world's oldest functioning bank following a tense confrontation with the board of...

Unitree Robotics, a maker of humanoid robots, saw its shares soar 460% on their first day of trading on the Shanghai Stock Exchange, according to Bloomberg, referencing trading data. At their highest point, their worth rose by 629%. Unitree became the first manufacturer of humanoid robots to list publicly in mainland China. The firm secured 6.1 billion yuan ($904 million) during its IPO, pricing...

Finnish telecom equipment manufacturer Nokia intends to shut down nearly all of its factories in mainland China by year’s end, as reported by the South China Morning Post (SCMP), citing sources. Reports indicate that the firm plans to terminate the majority of its staff in the nation. By the conclusion of 2025, Nokia had around 7,200 employees in China, Hong Kong, and Taiwan. A Nokia...

British billionaire Richard Branson's Virgin Group has been granted approval to run trains over the English Channel, even amidst objections from Eurostar, according to the Financial Times. The UK Office of Rail and Road (ORR) dismissed Eurostar's claims that allowing permission would restrict Virgin's expansion initiatives. Eurostar is the sole operator running passenger trains through the...

Hector Obregón, CEO of Petróleos de Venezuela S.A. (PDVSA), informed VTV that the present refining capacity at its facilities is 350,000 barrels daily. "Starting in 2024, PDVSA has been enhancing its refining capacity, indicating our investments in refineries, and currently, our capacity stands at 350,000 barrels daily. This has enabled us to generate enough gasoline and diesel to satisfy the...

Ford Motor Company, the American automaker, intends to relocate manufacturing of certain Lincoln luxury brand models from China to the US by 2030, as stated by CEO Jim Farley to Reuters. He characterized it as a complicated yet essential move to bolster the US manufacturing sector. Mr. Farley mentioned that the choice to relocate was decided right after the US administration's stance on this...

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 Cognition's valuation by over 50%. Only three months prior, the startup secured $1 billion at a valuation of $26 billion. Sources indicated that Cognition...

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 statement. The refinery can process 400,000 barrels each day. It was deactivated on July 27 after an assault by Yemeni Houthi rebels. Kpler...