Nvidia Unveils PC ‘Superchip’ in Challenge to Apple and Intel
Nvidia announced a new PC‑focused "superchip" that fuses an Ada‑generation GPU with a custom ARM‑based CPU, creating a single package for high‑performance laptops and desktops. The chip promises up to twice the AI inference speed of current RTX 40‑series GPUs and roughly 30% better power efficiency than Intel's upcoming Meteor Lake processors. Nvidia positions the superchip as a direct competitor to Apple’s M‑series silicon and Intel’s flagship CPUs, targeting premium Windows and Linux devices. The first models are expected to ship in Q4 2024 with a flagship price near $1,200.
US Tax Adviser Ryan Strikes $400mn Deal to Take on Big Four in Europe
U.S. tax advisory firm Ryan has secured a roughly $400 million financing package to accelerate its European expansion and directly challenge the Big Four accounting firms. The capital will fund acquisitions of boutique tax practices across the UK, Germany, and France,...
Drone Start-Up Stark Set for €2.5bn Valuation in New Fundraising
Drone start‑up Stark announced a new fundraising round that lifts its post‑money valuation to roughly €2.5 billion. The round, backed by leading European venture capital firms, adds €200 million to the company’s capital base. Stark’s platform combines AI‑driven navigation with lightweight airframes...
UK Law Firm Pinsent Masons Reprimanded by Court over AI Error
UK law firm Pinsent Masons was reprimanded by the High Court after an AI‑generated filing contained a material error that mis‑cited legal precedent. The court imposed a fine of £30,000 and ordered the firm to review its AI governance procedures....
Strep A Vaccine Gets $140mn Backing
Global health philanthropists have launched a $140 million fund, led by Coefficient Giving and donors such as Dustin Moskovitz, to accelerate development of a Group A Streptococcus (Strep A) vaccine. The fund aims to double the pipeline of vaccine candidates and bring at...
Top European Wind Turbine Maker Calls ‘Non-Western’ Rivals a Security Threat
Nordex chief José Luis Blanco urged the EU to bar "non‑western" wind‑turbine makers, arguing that Chinese equipment poses a cyber‑security and supply‑chain risk. He said the EU’s current rules, which apply only to publicly funded projects, should extend to all...
Richard Desmond’s Group Faces £40mn-Plus Bill From Failed Lottery Lawsuit
Richard Desmond’s media conglomerate has been hit with a court order to pay more than £40 million after a failed attempt to launch a UK lottery. The lawsuit, which alleged regulatory bias by the Gambling Commission, was dismissed by the High...
Apollo Makes £1.5bn Bid for London-Listed Bodycote
Apollo Global Management has launched a £1.5 bn cash offer to acquire Bodycote, the London‑listed specialist in heat‑treatment and thermal processing. The proposal values Bodycote at roughly £1.5 bn enterprise value, implying a premium over its current market price. If accepted, the...
Is Gas Making a Comeback on the US Power Grid?
U.S. power generators are increasing natural‑gas output as coal retirements accelerate and renewable intermittency spikes. Lower gas‑price volatility and new pipeline capacity have made gas‑fired plants more economical, especially in regions facing summer heat waves. The Energy Information Administration projects...
Berlin Set to Buy 40% Stake in Franco-German Tank Maker KNDS
Berlin announced a plan to purchase a 40% equity stake in KNDS, the Franco‑German tank maker formed by Krauss‑Maffei Wegmann and Nexter. The deal, valued at several hundred million euros, aims to strengthen Germany’s defence industrial base and secure a...
Marc Rowan Accused of Misusing Apollo Resources for Political Work
Apollo CEO Marc Rowan is accused by the American Federation of Teachers and the American Association of University Professors of using company email, staff, and resources to advance his personal conservative political agenda in higher education. The unions allege he...
Big Europe and Asian Private Equity Health Funds Merge to Defy AI Disruption
European health‑focused private equity giant EurHealth Capital and Asian counterpart AsiaMed Partners announced a merger that creates a $11 billion health‑care fund, the largest cross‑regional private equity vehicle of its kind. The combined entity will pool €9.5 billion (≈$10.3 billion) of committed capital...
Klarna Breaks Even for First Time Since Blockbuster New York IPO
Klarna, the Swedish buy‑now‑pay‑later fintech, reported its first net profit since its 2021 New York IPO, achieving break‑even for the fiscal year. Revenue rose 12% to roughly $1.2 billion, while cost‑saving measures and higher merchant fees drove profitability. The company posted...
Delivery Hero Chief to Step Down Amid Activist Pressure
Delivery Hero’s chief executive, Niklas Östberg, announced his resignation after mounting pressure from activist investor Cevian Capital, which has called for a strategic review and cost reductions. The board appointed the company’s CFO as interim chief executive while a permanent...
Two Ex-Carillion Finance Directors Fined by Accountancy Regulator
Two former Carillion finance directors have been fined by the UK accounting regulator for breaches that contributed to the construction giant’s 2018 collapse. The Financial Reporting Council imposed a £100,000 penalty on each individual, citing misleading financial statements and inadequate...