headlines... by halloapp

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01-24-2024

TECH

• Brainly is transforming into an AI learning companion that offers personalized explanations and guidance to students.

• Oppo and Nokia have signed a patent cross-licensing deal, resolving their long-standing dispute and allowing Oppo to sell in key European markets.

• Meta, the parent company of Facebook and Instagram, has faced criticism from its Oversight Board for failing to effectively remove posts denying the Holocaust. Concerns were raised about the company's enforcement and the prevalence of such content on Instagram.

• Samsung has expanded its self-repair program to cover nearly 50 models across various product categories, including foldable devices, home entertainment products, smartphones, tablets, laptops, and more. The program offers step-by-step repair guides, genuine replacement parts, and repair tools. Customers can purchase parts and kits online through companies like iFixit.

• PayPal stock rises 10% as new CEO promises innovation and AI-driven personalization, analysts bullish due to management overhaul and cheap valuations.

• TravelPerk, a business travel management platform, has secured $104 million in funding led by SoftBank Vision Fund 2. The investment will be used to drive growth, expand products, and increase profitability through automation and AI. TravelPerk aims to be the top SaaS business travel platform for SMBs and mid-tier companies in Europe and the US, with an annualized booking volume of nearly $2 billion and a valuation of $1.4 billion.

• Figma, a design software startup, is improving employee equity packages and offering buyouts after a failed acquisition by Adobe.

• Google's search result changes in the EU, criticized by eDreams Odigeo, are accused of favoring Google's ecosystem and limiting consumer choice.

MEDIA

• Netflix has signed a $5 billion, 10-year deal with WWE to exclusively stream their flagship program Raw starting in 2025.

• The 2024 Oscar nominations include Christopher Nolan's "Oppenheimer" leading with 13 nods, while "Barbie" receives 8 nominations.

• Spotify will offer in-app purchases for audiobooks and subscriptions in Europe to avoid Apple's 30% fee starting in March.

• The Los Angeles Times is laying off at least 115 journalists, over 20% of the newsroom, due to financial losses and union protests.

CONSUMER

• eBay is laying off about 1,000 employees, or 9% of its workforce, due to slow growth and increased expenses.

• Puma shares dropped 8.4% and 6.7% after weaker-than-expected earnings forecast and sales decline in Q4 2023, impacted by the devaluation of the Argentine peso.

• Hansae, a global fashion manufacturer, has been recognized with the Corporate ESG Grand Prize at the 2023 K-ESG Management Awards for its outstanding ESG performance and sustainable management practices.

• European and US retailers are facing transport delays in the Red Sea and are hesitant to raise prices due to financial constraints. They are focusing on cost reduction and building resilient supply chains, considering options like sea-air freight and nearshoring. However, buying from European factories is typically more expensive than sourcing from Asia.

• 3M is a multinational conglomerate that operates in four segments and generates nearly half of its revenue internationally.

REAL ESTATE

• PacifiCorp, owned by Berkshire Hathaway, has been ordered to pay $62-85 million to Oregon homeowners for damages caused by the 2020 wildfires.

• Capital Economics predicts that the distress in commercial real estate will reach its breaking point this year due to a wave of debt coming due, potentially leading to defaults. However, commercial property stocks and bonds are rallying as forecasters predict the end of the market slump, driven by hopes of interest rate cuts by major central banks.

• Landsec has leased its office space near Piccadilly Lights to Verition Fund Management, which will use it as their London headquarters. Demand for office space in central London is high.

ECONOMIC

• Royal Bank of Canada (RY:CA) is a global diversified financial services company that offers personal and commercial banking, wealth management, insurance, and capital markets services worldwide.

• Chuck Royce's investment firm has made various changes to its holdings, acquiring shares in Lakeland Industries and Identiv Inc, while reducing stakes in Manitex International, Hurco Companies, and others.

• Hedge-fund billionaire Bill Ackman and designer Neri Oxman have purchased a 4.9% stake in the Tel Aviv Stock Exchange for $27 million.

• UBS Group AG appoints Aleksandar Ivanovic to lead asset management business and Beatriz Martin Jimenez as Lead for Sustainability and Impact.

CRYPTO

• Colorado pastor and wife sued for allegedly defrauding investors of $3.2 million in a cryptocurrency scam, claiming God's involvement.

• Bitcoin, Dogecoin, and Ethereum experience declines as investors react to the implications of US SEC's approval of spot Bitcoin ETFs.

• JPMorgan downgrades Coinbase due to concerns about the impact of a Bitcoin ETF on revenue and cooling crypto enthusiasm.

• Coinbase Global, a crypto exchange, has seen impressive growth and diversification, making it a lucrative investment opportunity for investors.