Oppo launched in South Africa in September 2020. Chinese smartphone maker Oppo is retrenching employees in South Africa amid a slowdown in global smartphone sales. The company confirmed the job cuts after a source told ITWeb that a total of 13 employees in different roles had been impacted. Oppo did not disclose the number of…
Spiro raised an additional $55 million from NewTrails Capital, bringing its latest funding round to $270 million as the electric motorcycle and battery-swapping company expands across Africa. The investment follows a $215 million equity raise announced earlier this month. Spiro’s total disclosed funding now stands at about $557 million, making it one of Africa’s most…
On Holding has named co-founders David Allemann and Caspar Coppetti as co-CEOs, replacing Martin Hoffmann after a five-year tenure as CEO, as the Swiss sneaker maker looks to scale globally. The leadership shakeup comes as On is preparing to enter its “next growth phase,” the company said in a statement Wednesday. On shares were down…
Beta Technologies shares surged more than 8% after air taxi maker Eve Air Mobility announced an up to $1 billion deal to buy motors from the Vermont-based company. Eve, which was started by Brazilian airplane maker Embraer and is now under Eve Holding, said the manufacturing deal could equal as much as $1 billion over…
The Xiaomi SU7 Ultra beat the Tesla Model S Plaid at the Nürburgring Chinese consumer electronics giant Xiaomi, which has diversified into electric cars in recent years, has revealed for the first time that it will launch its flagship – and insanely quick – SU7 Ultra electric vehicle in South Africa. The Ultra variant of…
The Defense Department will become the largest shareholder in rare earth miner MP Materials after agreeing to buy $400 million of its preferred stock, the company said Thursday. MP Materials owns the only operational rare earth mine in the U.S. at Mountain Pass, California, about 60 miles outside Las Vegas. Proceeds from the Pentagon investment…
Oracle chairman Larry Ellison Oracle investors find themselves at a pivotal crossroads. Either heed the warning from a growing list of indicators that suggest the stock has run up too far, too fast — or continue to chase another rally that’s been supercharged by lofty artificial intelligence expectations. Shares of the software maker, co-founded by…
Meta is taking strong action against “nudify” apps that leverage AI to generate nonconsensual nude and explicit images, often targeting celebrities and influencers. The company has filed a lawsuit against one prolific app maker and is implementing new measures to prevent similar services from advertising on its platforms. Read: Switch 2 breaks records with 3.5…
