The estate of now-defunct crypto exchange FTX has initiated legal action against Binance and its former CEO Changpeng Zhao, seeking to reclaim over $1.76 billion. The lawsuit asserts that a 2021 transaction in which Binance divested its investment in FTX by selling a 20% stake in the platform along with...

Rajeev Misra will be stepping down from his leadership roles at SoftBank’s primary technology investment entities, marking the departure of one of the Japanese conglomerate’s most influential dealmakers. SoftBank executives confirmed that Misra would no longer hold an official role within the company. SoftBank announced on Tuesday that Misra, who...

Artificial Intelligence (AI) is on track to revolutionize industries globally, unlocking vast potential for economic growth, efficiency, and innovation by automating processes, generating insights, and enabling new forms of interaction. Generative AI, in particular, presents a unique opportunity to reshape sectors worldwide. In the Gulf Cooperation Council (GCC) region, where...

A recent survey by BGF of business leaders across its 400-company investment portfolio found that AI is being widely embraced by small and medium-sized enterprises (SMEs), with an overwhelmingly positive outlook. An impressive 89% of respondents viewed AI as an opportunity for growth, while only 7% saw it as a...

Bayern Munich CEO Jan-Christian Dreesen has secured a contract extension, extending his role with the club until 2027. The Bundesliga club announced on Monday evening that the 57-year-old’s contract, originally set to conclude in 2025, would be prolonged. Reflecting on Dreesen’s leadership, FC Bayern president Herbert Hainer remarked that Dreesen...

Chipotle has officially appointed Scott Boatwright as its permanent CEO, according to a Monday press release. Boatwright, who had served as interim CEO since August following Brian Niccol’s move to Starbucks, steps into the role after a tenure as chief operating officer, a position he held since 2017. Before joining...

Tesla’s stock price soared following the U.S. presidential election, pushing the electric vehicle maker’s market cap past $1 trillion for the first time since 2022. The sharp stock rally on Friday boosted CEO Elon Musk’s net worth beyond $300 billion, marking him as the first individual to reach this level...

Daimler Truck Holding AG’s Supervisory Board has appointed Achim Puchert to the Board of Management with a term lasting through November 30, 2027. Puchert will assume the role of CEO of Mercedes-Benz Trucks, overseeing the Europe and Latin America regions, effective December 1, 2024. He will succeed Karin Rådström, current...

PwC has released its report titled FinTech in ASEAN 2024: A Decade of Innovation, which reviews the transformative changes in global FinTech over the past decade, noting its impact on financial services and its role in advancing digital inclusion worldwide. The report acknowledges, however, that the sector still faces significant...