headlines...by halloapp

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12-23-2023

TECH

• Synopsys is in talks to potentially acquire Ansys, leading to a surge in Ansys’ shares and creating a potential design-software giant.

• Italy has referred Meta’s potential €870M tax charge to the EU Commission’s VAT committee, with a €5.85M fine already imposed for gambling ads on Facebook and Instagram.

• OpenAI is in discussions for a funding round that could value the company at $100 billion, potentially making it one of the most valuable startups globally. Additionally, they are exploring a chip venture with G42.

• ElliQ, an AI-based robot, is combating loneliness among seniors by engaging in conversations, playing music, and providing various functions.

• Apple has released a surprise iOS 17.2.1 update for all iPhone users, addressing bug fixes and important security updates.

• Toshiba will invest $175 million to double chip production and meet the increasing demand for power management chips in electric vehicles.

• Bluesky, a decentralized social network, introduces a feature that lets non-logged-in users view posts and allows publishers to embed posts.

MEDIA

• Lions Gate Entertainment plans to merge its studio business with a SPAC, Screaming Eagle Acquisition Corp., in a deal valuing the business at $4.6 billion.

• The Los Angeles Dodgers sign Japanese pitcher Yoshinobu Yamamoto to a 12-year, $325 million contract, making him the highest-paid rookie in MLB history.

• Aylo Holdings, the owner of Pornhub, will pay $1.8 million and compensate victims for profiting from sex trafficking.

• Apple is negotiating multi-year deals worth at least $50 million with news publishers to use their content for AI training.

CONSUMER

• UK retail sales in November rose by 1.3%, exceeding expectations, driven by Black Friday discounts. The UK economy contracted by 0.1% in Q3, raising recession concerns.

• Wayfair CEO Niraj Shah’s end-of-year memo encourages employees to work longer hours and blend work and life, sparking criticism.

• Major retailers are offering smaller discounts and fewer markdowns due to inflation concerns and to attract last-minute shoppers.

• Superdry is discussing the sale of its brand and intellectual property rights in the US and Middle East to raise funds, aiming for tens of millions of pounds.

REAL ESTATE

• US new-home sales in November fell 12.2%, reaching a one-year low of 590,000 units, with the South region seeing the largest decline.

• Toll Brothers Inc, a luxury homebuilding company, reported strong financial performance with revenues of $9.86 billion and net income of $1.37 billion.

ECONOMIC

• The Biden Administration imposes new sanctions on Russia’s military-industrial complex and warns foreign banks aiding Russia’s defense industry. Russian officials threaten to break diplomatic ties over asset seizures.

• Canada’s GDP was flat in October, with weak manufacturing and wholesale trade offsetting strong retail sales. However, preliminary data shows a slight rebound in November.

• US consumer sentiment increased in December, with the consumer sentiment index rising to 69.7. Stock market outlook for 2024 remains positive. US economy grew in 2023, surprising experts.

• Revolut resolves accounting concerns, reports a £25m loss due to expansion costs, and aims to secure a UK banking license.

CRYPTO

• Bitcoin is predicted to reach $100,000 in 2024 due to the halving event and institutional involvement, attracting $25 billion.

• Nigeria lifts ban on crypto transactions, allowing banks to handle cryptocurrencies while regulating virtual asset service providers.

• Bitcoin’s strong recovery in 2023 is linked to expectations of US regulators approving the first Bitcoin ETF, leading to price speculation.