Elon Musk. Evelyn Hockstein/Reuters Elon Musk is seeking up to US$134-billion (R2.2-trillion) from OpenAI and Microsoft, saying he deserves the “wrongful gains” that they received from his early support, according to a court filing on Friday. OpenAI gained between $65.5-billion and $109.4-billion from the billionaire entrepreneur’s contributions when he was co-founding what was then a…
Sola Group’s Springbok solar farm South Africa’s renewable energy sector is poised for a busy year, with multiple projects set to reach commercialisation or break ground as market confidence remains generally upbeat. According to industry body the South African Photovoltaic Industry Association, the country’s renewable energy sector is heading in the right direction. “The policy…
Minister of communications and digital technologies, Solly Malatsi. (Graphic: Nicola Mawson.) The year 2025 came to an end without the resolution of an apparent conflict over extending Equity Equivalent Investment Programmes (EEIPs) into the telecoms sector – a policy shift that could see billions in additional foreign direct investment and the creation of thousands of…
Nairobi — A new study and interactive dashboard released today in Nairobi at the seventh session of the United Nations Environment Assembly (UNEA) finds that current international financial flows remain billions of dollars short of what is required to achieve the global biodiversity target of protecting and conserving at least 30 percent of the world’s…
The European Union is expected to indefinitely freeze hundreds of billions of Russian funds held in Europe in line with a plan to use the cash to support Ukraine. The bloc’s members were expected to approve the plan on Friday to immobilise 210 billion euros ($246bn) worth of Russian sovereign assets for as long as…
Cell C has cut the offer price for its imminent JSE debut, trimming as much as R3.50/share off the bottom of the original range and knocking roughly R1-billion to R3-billion off its hoped-for valuation. In an update to investors on Friday, Blu Label Unlimited Group, Cell C’s largest shareholder, said it has approved a final…
A cannon, three coins and a porcelain cup were among the first objects Colombian scientists recovered from the depths of the Caribbean Sea where the mythical Spanish galleon San José sank in 1708 after being attacked by an English fleet, authorities said Thursday. The recovery is part of a scientific investigation that the government authorized…
Pension funds and insurance companies in different African countries invest billions abroad despite energy projects on the continent needing investment, says chairperson of the presidential initiative on climate change in Sierra Leone Kandeh Yumkella. Speaking at the Accelerated Partnership for Renewables in Africa (Apra) investment forum in Sierra Leone, Yumkella said projects in Africa are…
Dr Jannie Zaaiman, CEO of the South Africa Information and Communication Technology Association. Within the next five years, companies in the artificial intelligence (AI) game are going to need enough power to light up New York City 17 times over, and Goldman Sachs tells us that less than 10% of the needed power will be…
The BYD Sealion 7 electric. Chinese multinational new energy vehicle (NEV) manufacturer BYD has made a multibillion-rand investment in expanding its operations in South Africa, as it looks to increase its market share in the local electric vehicle (EV) industry. BYD has set a target to, over the next year, open a dealership in every…
