Pope criticises 'tyrants' who spend billions on wars, days after Trump spat
The comments follow a high-profile spat with US President Donald Trump, who called the Pope weak on crime.
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Berkshire electric utility’s court win could save it billions
(This is the Warren Buffett Watch newsletter, news and analysis on all things Warren Buffett and Berkshire Hathaway. You can sign up here to receive it every Friday evening in your inbox.) PacifiCorp court win could reduce wildfire damages by $1B or more An Oregon Court of Appeals ruling this week accepted PacifiCorp’s argument the judge in a 2023 trial mistakenly…
Govt entities waste billions on ICT projects, unused systems
AGSA audit outcomes uncover R12.1 billion-worth in ICT project issues. (Image source: 123RF) While technology is often touted as a transformative force, national and provincial governments continue to face significant challenges in ICT implementation. A report by the Auditor-General of South Africa (AGSA) has identified barriers to achieving digital transformation goals, noting that many of…
Africa: Extreme Weather Impacts Millions, Costs Billions
A new report released by the World Meteorological Organization (WMO) confirms that thousands of people have died, millions more have been impacted, and billions in losses have been incurred due to extreme weather fueled by climate change. Record-high greenhouse gas levels have pushed the Earth’s climate into an unprecedented state of flux. While these atmospheric…
How Elon Musk’s Hyperloop sucked up billions and delivered nothing
Hyperloop Transportation Technologies test facility in 2019 in Toulouse, France. Photo: Wikipedia user Ryn88668, 19 June 2019, under CC BY-SA 4.0 International licence In 2013, PayPal mafia don and head of Tesla and SpaceX Elon Musk got caught up in the libertarian opposition to California’s overdue, over-budget and under-delivering high-speed rail project. He called it…
Why low earth orbit is attracting billions in investment
Europe’s Ariane 6 rocket takes off, in Kourou, French Guiana, July 9, 2024. European Space Agency ESA | Via Reuters A new layer of critical infrastructure is emerging above our heads. Low Earth Orbit (LEO) — which NASA defines as the stretch of space at an altitude of 2,000 km or less — is rapidly evolving from…
Africa: Russia-Ukraine War – Malawi and Africa Lose Billions in Economic Stability
As Russia’s invasion of Ukraine marks four years this week, political analysts, industry leaders, and economists warn that Malawi–like many African nations–has suffered profound economic fallout from disrupted wheat and fertilizer imports from the Black Sea region. Africa, which sourced over 80% of its wheat from Russia and Ukraine pre-war, now grapples with chronic food…
U.S. can spend billions less on defense, says Anduril Industries founder
Defense spending has been the talk of Singapore’s Airshow this week but that’s not an accurate way to measure military strength, Palmer Luckey, founder of defense tech firm Anduril Industries, said on CNBC’s “Squawk Box Asia” Wednesday. That comes after U.S. President Donald Trump in January expressed interest in raising the U.S military budget to…
Canal+ eyes billions of rand in cost savings from MultiChoice deal
Canal+ expects to generate more than €400-million (R7.5-billion) in annual earnings “synergies” from its acquisition of MultiChoice Group, underlining the strategic importance of Africa to the French media group’s long-term growth ambitions. In a statement released on Thursday, Canal+ said the combined group is targeting run-rate cost synergies of more than €400-million at earnings before…
Elon Musk demands billions from OpenAI in explosive lawsuit
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…