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via MGM Blasting Hollywood for rehashing old concepts in favor of originality might be a more modern phenomenon, but it should be noted that 2016’s completely unnecessary and utterly pointless retreat of Ben-Hur was the fourth feature-length version of the story. The 1959 Charlton Heston vehicle of the same name deservedly gets the most attention due to its status as an era-defining classic that earned almost $150 million at the box office (which is equivalent to roughly $1.5 billion today), and won an…

Samsung Electronics is banking on Europe to maintain growth momentum in its network equipment business, a senior executive said, as 5G rollout widens and industry leader Huawei Technologies of China focuses on its domestic market.Although the South Korean tech company is global No. 1 in memory chips and smartphones, in 5G network equipment it ranks fifth behind Huawei, Ericsson, Nokia, and ZTE, with a 10-15 percent market share in the first quarter of 2021, according to market research firm Dell'Oro Group.But as Samsung…

Blackstone Inc. is ramping up its bet on the global travel and leisure market with a $6.3 billion purchase of an Australian resort and casino operator.The giant investment firm closed last month on its acquisition of Crown Resorts Ltd., a company that owns gaming resorts in Perth, Melbourne and Sydney. Its business has suffered over the past three years due to the pandemic and money laundering investigations into Crown by Australian financial and casino…

Between 2016 and 2018, the number of cryptocurrencies surged to over 1,500 from just 69 and currently there are more than 5,000 active tokens. The jump marks how fast-evolving blockchain technology has catalysed the financial services and financial ecosystem in the recent past. Moreover, the popularity of cryptocurrencies hit an all-time high after 2020 as the Covid-19 pandemic drove digital adoption. Today, traders have the choice of selecting from a wide array of options, be it a regular cryptocurrency,…

Meta is warning of “serious times” and preparing for a leaner second half of 2022, according to an internal memo circulated to employees this week. The note comes from chief product officer Chris Cox and outlines the company’s priorities and challenges to its business going forward. “I have to underscore that we are in serious times here and the headwinds are fierce,” Cox wrote in the memo obtained by The Verge and published in full below. “We need to execute flawlessly in an environment of slower growth, where teams…

Huawei, known widely as a tech giant, has a clear and precise vision of where the automotive industry is headed in the future. The company is actively working towards replicating its success in the field of technology and is bringing that expertise to the automotive sector by investing heavily in the R&D of intelligent automotive components, to offer ICT technologies to automakers for the development of new-age smart vehicles. They are focused on developing intelligent driving solutions that, in turn, help OEMs build…

Michelle Celarier / New York Magazine: An in-depth look at Tiger Global, the secretive hedge fund and VC firm led by Chase Coleman, as its huge bets on booming tech stocks led to a $25B+ loss by June — Secretive hedge fund Tiger Global changed the rules on tech investing. Then it all went bad. Michelle Celarier / New York Magazine: An in-depth look at Tiger Global, the secretive hedge fund and VC firm led by Chase Coleman, as its huge bets on booming tech stocks led to a $25B+ loss by…

BP BP -1.15% PLC is taking the lead on a more-than-$30 billion project to produce massive amounts of hydrogen from renewable energy in Australia’s Outback, a major bet on a promising alternative fuel that is in growing demand but remains expensive.The British oil giant said it is taking a 40.5% stake in the project, known as the Asian Renewable Energy Hub, and will become its operator. One of the largest such “green hydrogen” projects proposed to date, it is expected…

What’s emerging in its place is an age of diminished expectations marked by job cuts and hiring slowdowns, slashed growth projections and shelved expansion plans. The malaise is damaging employee morale, affecting the industry’s ability to attract talent, and has wide-ranging implications for US economic growth and innovation. Illustrations of a dour new business climate surface daily against the backdrop of a prolonged economic slowdown, a grinding war in Europe, rising interest rates and inflation, and a…