News | Pixr8 News

Financial World Legend Charlie Munger Passes Away at 99

29Nov By AdityaNo Comments

News

Financial World Legend Charlie Munger Passes Away at 99

29th November, 2023: Charlie Munger, a renowned figure known for his close association with the celebrated American investor Warren Buffett, sadly passed away at the age of 99 on Tuesday. Having spent nearly six decades as Buffett's confidant and business partner, Munger played a pivotal role in the remarkable transformation of Berkshire Hathaway Inc. from a struggling textile manufacturer to an influential global empire. Charlie Munger's family has shared the news of his peaceful passing on Tuesday at a California hospital. Berkshire Hathaway expressed their mourning in a press release, acknowledging the significant impact Munger had on the company's trajectory. Warren Buffett, CEO of Berkshire Hathaway, deeply recognized Munger's inspiration, wisdom, and unwavering commitment to the o...

Who is Mira Murati, the new interim CEO of OpenAI

18Nov By AnkitaNo Comments

News

Who is Mira Murati, the new interim CEO of OpenAI

Mira Murati, a seasoned professional with a remarkable track record at OpenAI, has been appointed as the interim CEO. Having played a pivotal role in the development and implementation of groundbreaking products like ChatGPT and DALL-E, Murati now steps into the spotlight to lead the company. After the recent decision by OpenAI's board of directors to remove Sam Altman, co-founder and CEO, Mira Murati was chosen as the successor. Recognized for her unique skill set and proven expertise, Murati ensures a smooth transition while OpenAI conducts a comprehensive search for a permanent CEO. Murati, 34, has been an influential force within OpenAI for quite some time, even while holding the title of Chief Technology Officer. Current and former employees attest to her position as the head of...

Nepal Bans TikTok, Citing Disruption of Social Harmony

17Nov By PriyankaNo Comments

News

Nepal Bans TikTok, Citing Disruption of Social Harmony

In a recently held meeting, Nepal banned the immensely popular social media application, TikTok. The move comes in response to concerns regarding the app's impact on "social harmony" within the country. Foreign Minister Narayan Prakash Saud has announced the immediate enforcement of the ban. Minister Saud emphasized that the decision was crucial in order to regulate the usage of the social media platform, which had been causing disruptions to social order, goodwill, and the dissemination of indecent content. To foster accountability, the government has demanded that social media companies register and establish liaison offices in Nepal, fulfill tax obligations, and adhere to the nation's laws and regulations. While it remains unclear what specifically prompted this ban, speculation p...

Israeli Police Collaborate with Binance to Freeze Hamas Cryptocurrency Accounts

11Oct By AdityaNo Comments

News

Israeli Police Collaborate with Binance to Freeze Hamas Cryptocurrency Accounts

Tel Aviv, 11th Oct 2023: In a swift operation, the Israeli police, alongside the Blade 433 cyber unit, the National Counterterrorism Headquarters, the Israel Securities Authority, and various intelligence bodies, have successfully frozen multiple cryptocurrency accounts linked to Hamas. This action followed the militant group's surprise attack over the weekend. Suspicions arose when Hamas, deemed a terrorist organization by the United Nations, launched a fundraising campaign on social media platforms following the outbreak of war. Encouraging the public to deposit cryptocurrencies into their accounts, Hamas aimed to amass financial support for their activities. Recognizing the urgency, the Police Cyber Unit and Ministry of Defense swiftly mobilized to locate and freeze the identified...

Huawei Launches Services in Saudi Arabia

5Sep By AnkitaNo Comments

News

Huawei Launches Services in Saudi Arabia

RIYADH, Saudi Arabia , Sept. 5, 2023-- Huawei announced the launch of the Huawei Cloud Riyadh Region at the Huawei Cloud Saudi Arabia Summit 2023. This Region will help promote digital-driven economic growth in the country. The launch of the Huawei Cloud Riyadh Region announced that the Saudi Arabia region will be the focus of Huawei Cloud to serve the Middle East , Central Asia and Africa, providing innovative, reliable, secure and sustainable cloud services. This achievement underscores Huawei CLOUD's unwavering dedication to supporting Saudi Arabia's Vision 2030, aligned with the nation's ambitious goals of technological advancement, leadership, and innovation. Huawei Cloud Saudi Region is located in Riyadh and, through a 3AZ (availability zone) architecture, will provide secure a...

11Apr By AdityaNo Comments

News

The Iconic Brand “Tupperware” can go Out of Business, Doubt Over its Growth

ORLANDO, Fla., April 11, 2023 ― Leading global consumer products company Tupperware warned that the company could be going out of business due to unsustainable growth and cash crunch. In a regulatory filing Tupperware said that it has engaged with financial advisors to find financing to keep the company in business. Further it said, due to the challenging internal and external business economics, coupled with the increased levels and cost of borrowings under its Credit Facility, the Company currently forecasts that, if it is unable to obtain adequate capital resources or amendments to its Credit Agreement, it may not have adequate liquidity in the near term. As a result, the Company has concluded there is substantial doubt about its ability to continue as a going concern. This goin...

Tata Group likely to takeover of iPhone maker plant Wistron

11Jan By AnkitaNo Comments

News

Tata Group likely to takeover of iPhone maker plant Wistron

Bengaluru, 11th Jan 2023- Tata Group succeeding with its bid to take over an iPhone assembly plant in Bengaluru, India. That would give a boost to the country’s ambitions to become an electronics manufacturing hub. The $128 billion Tata Group has been in talks for months with Apple Inc.’s Taiwanese supplier Wistron Corp. and is looking to seal the purchase of its assembly factory near Bangalore by the end of March. The salt-to-airline conglomerate has been expanding its presence in technology, and India’s government has taken steps to challenge China’s dominance in electronics. As per the discussions, Tata Group is likely to oversee the main manufacturing operation, with support from Wistron. It may be noted that neither Tata Group or Wistron Corp has given any public statements rega...

Facebook Agreed to Pay $725 million to settle Cambridge Analytica Case

27Dec By AnkitaNo Comments

News

Facebook Agreed to Pay $725 million to settle Cambridge Analytica Case

California, 25th Dec, 2022: World's leading social media platform Facebook has agreed to pay $725 million to settle a lawsuit alleging that facebook allowed sharing of millions of its users' personal information to Cambridge Analytica. Terms of the settlement reached by Meta Platforms, the holding company for Facebook and Instagram, were disclosed in court documents filed late Thursday. It will still need to be approved by a judge in a San Francisco federal court hearing set for March. The case sprang from 2018 revelations that Cambridge Analytica, a firm with ties to Trump political strategist Steve Bannon, had paid a Facebook app developer for access to the personal information of about 87 million users of the platform. That data was then used to target U.S. Voters during the 2016 ...

New Jersey based Crypto firm BlockFi files for bankruptcy

29Nov By NitishNo Comments

News

New Jersey based Crypto firm BlockFi files for bankruptcy

NJ, USA, 29th Nov, 2022: New Jersey-based crypto lending platform filed for Chapter 11 bankruptcy protection, the latest down crypto firm after collapse of crypto exchange FTX. BlockFi had been struggling for much of this year but was given a lifeline this summer in the form of an FTX line of credit. FTX's own bankruptcy, however sealed BlockFi's financial future. BlockFi suspended withdrawals after FTX's failure, and it had hired bankruptcy specialists in recent days. FTX's financial rescue package was no longer available to BlockFi once it ran into its own financial trouble, and BlockFi said any attempts to get additional funds in the days before the bankruptcy were not honored. BlockFi was one of several crypto currency lenders to pop up in recent years. The company gave loans ...

Berkshire Shareholders will keep Warren Buffett as chairman

5May By PriyankaNo Comments

News

Berkshire Shareholders will keep Warren Buffett as chairman

5/5/2022, NY, CALF: In a filling on Wednesday, Berkshire Hathaway Inc. mentioned that shareholders vote to keep Warren Buffett both chairman and chief executive. The proposal, which called for an independent chair, received only 54,425 votes (about 11%) to 448,868 against (89%), according to the filing. In the form 8k, all other 14 Berkshire directors including Buffett; Vice Chairmen Charlie Munger, Greg Abel and Ajit Jain; and lead independent director Susan Decker won reelection with more than 86 per cent of votes cast. The Company has also received a letter from the NYSE that acknowledged that the Company is back in compliance with the continued listing standards establishing a majority of independent directors on its board. Buffett, 91, became CEO of Berkshire in 1965, and has...

Elon Musk and Twitter Closes deal for $44 billion

25Apr By AnkitaNo Comments

News

Elon Musk and Twitter Closes deal for $44 billion

Twitter is in advanced discussions to sell itself to Elon Musk and could finalize a deal today on Monday, people familiar with the matter said. The two sides worked through out the night to get out a deal that would be valued at $54.20 a share, or $44 billion, the people said. Assuming there isn’t a last-minute snag, the deal is expected to be announced after the market closes on Monday. It’s not clear why the total value of the deal has increased slightly from prior expectations, but it could be related to an updated share count. Elon Musk on April 14 offered a bid to buy the company without saying how he would pay for it, calling it his "best and final" offer. Twitter had been expected to rebuff the offer, and put in place a so-called poison pill to block him from increasing his...

Peter Thiel to Retire from Meta Board of Directors

8Feb By PriyankaNo Comments

News

Peter Thiel to Retire from Meta Board of Directors

MENLO PARK, Calif., Feb. 8, 2022-- Meta (NASDAQ: FB) announced today that Peter A. Thiel, Partner at Founders Fund and PayPal co-founder, has decided not to stand for re-election to the Board of Directors of the Company at the Company's 2022 Annual Meeting of Stockholders. Thiel has been a member of the company's board of directors since 2005 and will continue to serve as a director until the date of the Annual Meeting. Mark Zuckerberg, Meta founder and CEO, said: "Peter has been a valuable member of our board and I'm deeply grateful for everything he has done for our company -- from believing in us when few others would, to teaching me so many lessons about business, economics, and the world. Peter is truly an original thinker who you can bring your hardest problems and get unique sugg...