The fall of the unicorns
In March 2022, near the height of the startup funding frenzy, Forbes estimates that 44 founders of unicorns – private companies valued at over $1 billion – had assets of around $190 billion. A…
As Big Tech scrambles to meet EU rules, investigations seen as likely
By Foo Yun Chee BRUSSELS (Reuters) – From overhauling online platforms to backroom engineering, Google, Apple, Amazon, Microsoft, Meta and TikTok owner ByteDance have scrambled over the last six months…
Aixtron slumps as outlook disappoints, client issues warning
By Mateusz Dobrzyniewski and Amir Orusov (Reuters) – Aixtron’s shares fell as much as 22% on Thursday after the German semiconductor tools maker forecast a 2024 margin below expectations and…
Julius Baer suffered IT crash last week
By Noele Illien ZURICH (Reuters) – Julius Baer suffered an outage that prevented customers and bankers from accessing its systems on Feb. 16, but quickly restored full service, the Swiss…
Ant Group outbids Citadel for Credit Suisse’s China unit
By Gursimran Kaur and Selena Li in Hong Kong (Reuters) – Fintech giant Ant Group has outbid billionaire Ken Griffin’s Citadel Securities for Credit Suisse‘s investment bank venture in China,…
ABB buys tech company to give industrial robots eyes and brains
By John Revill ZURICH (Reuters) – ABB has bought a company specialising in boosting the mobility of industrial robots – by using artificial intelligence and 3D vision to move around…
Revolutionizing coral conservation: the artistic approach of Rrreefs
In an era where environmental challenges loom large, Rrreefs, a Swiss NGO based in Zurich, is charting a new course in coral conservation. Blending artistic ingenuity with scientific acumen, their 3D-printed…
Vodafone shares climb as Iliad proposes Italian merger
By Elvira Pollina and Paul Sandle MILAN/LONDON/PARIS (Reuters) – Iliad said on Monday it had submitted a proposal to Vodafone to merge their Italian units, a move that would combine…
IOTA launches $100 million entity in Abu Dhabi to create digital network
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Global technology network IOTA on Wednesday launched a $100-million foundation in Abu Dhabi to accelerate the growth of its distributed ledger technology (DLT)…
Siemens, Ericsson warn EU cybersecurity rules may disrupt supply chains
By Foo Yun Chee BRUSSELS (Reuters) – Electronics makers Siemens, Ericsson and Schneider Electric, along with industry group DigitalEurope warned on Monday that onerous proposed EU rules targeting cybersecurity risks…