Reaction Engines, the British hypersonic aviation pioneer, has gone into administration after weeks of discussions with potential backers failed to result in a rescue deal. Sky News has learned that 173 of the company’s 208 staff were made redundant on Thursday morning by PricewaterhouseCoopers (PwC), the administrators. The collapse of a company which manufactures advanced … Read more
Siemens has agreed to acquire simulation software company Altair for $10.6 billion in an all-cash transaction, marking a significant consolidation in the engineering software sector. The German conglomerate will pay $113 in cash per share of Altair, valuing the Michigan-based company at $10.6 billion. Altair provides data analytics technology and services to major corporate clients … Read more
“ Google parent Alphabet exceeded revenue expectations on Wall Street in the third quarter financial results released on Tuesday, showing strong growth in the company’s main businesses and hinting at the potential benefits of its ongoing AI efforts. The company reported a 15% increase in revenue to $88.3 billion in the third quarter, surpassing Wall … Read more
Consensys, the creator of the popular MetaMask cryptocurrency wallet, is laying off more than 160 employees across all departments of the company. CEO Joe Lubin announced the layoffs in a blog post, citing challenges from the macroeconomy and legal expenses related to the company’s ongoing battles with regulators. “Multiple cases with the SEC, including ours, … Read more
Tim Sheehy, the Republican candidate poised to turn Montana and the US Senate red, has incurred $180 million in losses over the past five and a half years while leading the Nasdaq-listed aerial firefighting company Bridger Aerospace. There is a risk of the company going bankrupt between Sheehy winning next week and his assumption of … Read more
The Tesla stock experienced a significant surge last week following better-than-expected third-quarter earnings and positive guidance from CEO Elon Musk. Most Wall Street analysts were optimistic about Tesla’s performance, with many maintaining buy ratings on the stock. However, not all analysts were convinced of its potential. On Thursday, Bank of America reiterated its buy rating … Read more
By Karen Freifeld and Fanny Potkin (Reuters) – Taiwan Semiconductor Manufacturing Company has halted shipments to China-based chip designer Sophgo after a chip it produced was discovered on a Huawei AI processor, according to two sources familiar with the situation. Sophgo had ordered chips from TSMC that matched the one found on Huawei’s Ascend 910B, … Read more
A California-based produce company was identified as the source of fresh onions linked to a deadly E. coli food poisoning outbreak at McDonald’s, according to officials from the restaurant chain. In response, other fast-food restaurants such as Taco Bell, Pizza Hut, KFC, and Burger King have also removed onions from some of their menus. McDonald’s … Read more
[Sorce] A Japanse train company is gearing up to deploy “blade-proof” umbrellas in response to a knife attack that occured on one of its trains last year. Launching the first of its kind in Japan, JR West anounced on Thursday that it will distribute 1,200 “blade-proof” umbrellas beginning in November to its 600 trains in … Read more
Reaction Engines, the British hypersonic aviation pioneer, has moved to reassure employees that they will be paid this month as talks aimed at rescuing the company continue. Sky News understands that staff at Reaction Engines were told this week that it would meet its payroll obligations for October amid growing doubts about its survival. The … Read more