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In an era of rapid technical developments and soaring values, ByteDance remains the most valuable startup in the world, with a valuation of $225 billion, according to CB Insights’ tracker. However, the IT sector is teeming with activity, particularly with companies such as OpenAI, which has been recognized for pioneering work in generative artificial intelligence,… Continue reading World’s highest-valued startups: OpenAI and SpaceX soar, but ByteDance remains dominant

Petter Olsen, the Norwegian shipping heir and art enthusiast, is selling his extensive collection of Edvard Munch artworks following his recent bankruptcy. Leif Petter Madsen, the head of Olsen’s bankruptcy estate said Olsen, heir to shipping magnate Thomas Olsen, owes creditors about 780 million kroner ($75 million) and is selling the collection. None are sold… Continue reading Bankrupt Norwegian shipping heir Petter Olsen to sell Munch art collection to repay debts

Private markets fundraising has seen a decline of over 10% in the last two years, but family offices and ultra-high-net-worth individuals (UHNWIs) are increasingly showing interest in the asset class. While traditionally dominated by institutional investors like pensions and sovereign wealth funds, private markets are becoming a key focus for private wealth investors seeking diversification… Continue reading Private investors seek larger share of private markets despite fundraising decline

In a landmark decision, Vanguard Investments Australia Ltd. has been fined A$12.9 million ($8.9 million) by Australia’s Federal Court for making misleading claims about its ethical investment options. The penalty marks the highest greenwashing fine issued in the country, as regulators ramp up scrutiny on environmental, social, and governance (ESG) claims by financial institutions. The… Continue reading Vanguard fined $9M in Australia’s largest greenwashing penalty

In a major move, private equity firms Vista Equity Partners and Blackstone are set to acquire Smartsheet, a cloud-based software company, for approximately $8.4 billion in an all-cash transaction. Under the terms of the agreement, Vista and Blackstone will purchase Smartsheet shares at $56.50 each, according to a joint announcement made on Tuesday. The deal… Continue reading Vista and Blackstone to acquire software maker Smartsheet in $8.4 billion deal

Samsung Display Co., a leading South Korean electronics manufacturer, plans to invest $1.8 billion in a new OLED display factory in northern Vietnam this year. The facility, located in the Yen Phong industrial park, Bac Ninh province, will focus on producing OLED screens for automotive and tech equipment, according to a statement from the Vietnamese… Continue reading Samsung to invest $1.8 billion in new OLED manufacturing plant in Vietnam

Apollo Global Management, a prominent US asset management firm, is reportedly preparing to invest up to $5 billion in Intel, Bloomberg reported on Monday. The potential investment comes as Intel navigates a period of significant market decline, with its stock price dropping nearly 60% since the start of the year. The report further suggests that… Continue reading Apollo eyes $5 billion stake in Intel amid market struggles