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29Dec

Coupang to Pay $1.18 Billion in Vouchers After Massive Data Leak

South Korean e-commerce company Coupang announced on Monday a compensation deal worth 1.69 trillion won ($1.18 billion) to holders of 33.7 million accounts for a massive data leak that triggered…

29Dec

Potanin JV buys 25% stake in Selectel to back Russia’s home-grown AI push

A joint venture controlled by Russian billionaire Vladimir Potanin has acquired a 25% stake in IT infrastructure provider Selectel, one of the venture's partners said on Monday, as Moscow seeks…

29Dec

SoftBank to buy DigitalBridge for $4B to expand AI portfolio

SoftBank Group will acquire digital infrastructure investor DigitalBridge Group in a deal valued at $4 billion, the companies said on Monday, as the Japanese investment firm looks to deepen its…

29Dec

Oil jumps over $1 as Ukraine peace talks clash with Middle East supply fears

Oil prices rose by more than $1 on Monday as investors weighed talks between the U.S. and Ukrainian presidents on a possible deal to end the war in Ukraine against…

29Dec

Lululemon founder launches proxy fight after CEO exit

Lululemon Athletica's founder Chip Wilson said on Monday he had launched a proxy fight, nominating three independent directors to the company's board, days after the apparel maker announced the exit…

29Dec

Nvidia buys $5 billion stake in Intel, offering lifeline after chipmaker’s long slump

Nvidia has purchased Intel shares worth $5 billion, the American semiconductor firm said in a filing on Monday, carrying out a transaction announced in September. The leading AI chip designer said…

29Dec

China proposes tighter rules on emotionally interactive AI services

China's cyber regulator on Saturday issued draft rules for public comment that would tighten oversight of artificial intelligence services designed to simulate human personalities and engage users in emotional interaction. The…

29Dec

China flexes muscle on BHP, ramps up hardball tactics to squeeze iron ore giants

China's state iron ore buyer is using increasingly hardball tactics against mining giants such as BHP to tighten its grip on the $132 billion seaborne market and extract better terms…

29Dec

Leapmotor Targets 4 Million Annual EV Sales Within a Decade, CEO Says

Chinese electric vehicle (EV) maker Leapmotor expects to sell more than 4 million vehicles a year within the next decade, CEO Zhu Jiangming said on Monday. Leapmotor aims to sell 1…

29Dec

China to cut tariffs on select imports, from next year

China announced on Monday tariff adjustments for some products beginning next year, including lowering the import duties on resource-based commodities such as recycled black powder for lithium-ion batteries. The country…

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