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Harbour Energy to Cut 350 UK Onshore Jobs, Cites Windfall Tax as Reason
Harbour Energy, the UK's largest oil and gas producer, has announced that it expects to cut 350 onshore jobs in the country. The company cited the UK government's windfall tax as the reason behind the decision. Harbour Energy has been reviewing its operations since January after warning that it was re-evaluating its future activity in
The Future of Mobile Phones: Implants Under the Skin
Martin Cooper, the pioneer of the modern cell phone, has predicted that humans may one day have their mobile phones embedded under their skin. In a recent interview on NPR, Cooper shared his vision that led to the first cellular phone call and what he thinks the future holds for mobile phones. Cooper revolutionized the
World Bank Warns of Looming Economic Slump Unless SSA Cuts Trade Costs
The World Bank has issued a warning that Sub-Saharan Africa (SSA) needs to cut trade costs by at least 50% to reinvigorate global trade, which has been in decline since mid-2022. The lender stated that the global economy growth rate could slump to a three-decade low if urgent action is not taken to boost productivity,
EOH shares are rising as outlook improves
EOH Holdings shares climbed more than 5% in Johannesburg on Wednesday morning after the IT services firm released its first financial results following its recent rights issuance. The business, which has been through the ringer in recent years after investigations revealed it was a key player in public sector corruption, claimed it earned an operational
Bill Gates opposes proposals to halt AI development
Proposals to halt AI development would not "solve the challenges" that lie ahead, Microsoft co-founder Bill Gates said in his first public remarks since an open letter triggered a discussion about the technology's future. The technologist-turned-philanthropist stated that it would be preferable to focus on how to effectively employ AI breakthroughs, since it was difficult
iPhone maker Foxconn reports weak financial results
Hon Hai Precision Industry's revenue climbed by just 3.9% last quarter, highlighting how economic worries are restricting demand for iPhones and other consumer goods. The world's largest Apple gadget manufacturer, widely known as Foxconn, posted sales of NT$1.46 trillion (R858 billion) for the typically sluggish March quarter. Even yet, this is a significant decrease from
Elon Musk is one of 1,000 Tech leaders who signed an open letter calling for a halt to AI due to "profound risks"
Elon Musk is one of over 1,000 industry leaders asking for a halt to AI development owing to the “profound risks to society and humanity” it poses. The open letter, released by the non-profit Future of Life Institute, expresses significant worry regarding "AI systems with human-competitive intelligence," according to The New York Times. The letter warns
The government has formally ended the state of disaster for the power outage
The government has formally ended the national state of calamity declared just under two months ago to deal with South Africa's energy issue. Thembi Nkadimeng, Minister of Cooperative Governance and Traditional Affairs, said in a gazette released shortly before noon on Wednesday that the state of disaster had been lifted. "All regulations and directions made
R3.5 Million Fine on SAPS Supplier for Excessive Sanitiser
The Competition Tribunal has handed down a fine of R3.5 million to a supplier of hand sanitiser to the South African Police Service (SAPS) for excessive pricing during the Covid-19 pandemic. BlueCollar Occupational Health, based in Gauteng, was found guilty of exploiting the demand for hand sanitiser, which was considered essential in the fight against
Samsung set to launch ground-breaking three-fold foldable phone
Samsung, the South Korean tech giant, is set to launch a ground-breaking three-fold folding mobile phone this year, according to popular tech blogger Yogesh Brar. If the device is launched as anticipated, Samsung will become the first company to release a mobile phone with a three-fold screen. The announcement comes after Samsung's successful foray into
Volkswagen to shift EVs as 8th-gen Golf to last of its kind
The eighth-generation VW Golf may be the last of its kind as the German automaker shifts its investments towards electric vehicles (EV) and away from internal-combustion engines (ICE). In addition, buyers are gravitating towards practical body shapes like crossovers and SUVs instead of conventional hatchbacks. VW's strategy in South Africa reflects this trend as the
Johnson & Johnson Offers $9bn to Settle Talc Lawsuits
Johnson & Johnson, one of the world's largest healthcare companies, has offered to pay almost $9 billion to settle thousands of lawsuits in North America. The legal claims allege that the company's talc-based products, including baby powder, can cause cancer. The figure is a significant increase over the $2 billion previously proposed by the company.
Virgin Orbit, Richard Branson's Rocket Company, Files for Bankruptcy
Virgin Orbit, the satellite launch company founded by Sir Richard Branson, has filed for bankruptcy in the US after failing to secure new investment. The company, which is based in California and was spun off from Branson's space tourism firm Virgin Galactic in 2017, had already halted operations weeks ago and announced plans to cut
ESKOM EXEMPTION WITHDRAWN FOR NOW
South African Finance Minister Enoch Godongwana stated that he has decided to withdraw the exemption of Eskom from the Public Finance Management Act "for now" to have further consultation with the auditor-general and Eskom's auditors, telling the MPs. "Yesterday we had intensive discussions with the auditor-general (AG) and in that discussion there were some contributions
With R19 billion merger, Investec unites its UK wealth business with Rathbones
Rathbones Group has agreed to purchase Investec's UK wealth management division in an all-share deal worth £839 million (R18.7 billion). According to a statement issued Tuesday, Investec will be a minority stakeholder in the larger Rathbones firm, with a 41.25% interest and 29.9% voting rights. According to the firms, the merger will result in a
Diesel prices significantly reduced for April, with slight changes in petrol pricing
On Wednesday, the price of diesel will be reduced by more than 73 cents per litre, with a 1 cent drop in 93 unleaded petrol and a 2 cent increase in 95. According to the department of natural resources and energy, diesel 0.05% sulphur will be reduced by 73.58c per litre, while 0.005% sulphur would
Pioneering Performance: Unlocking New HUAWEI Mate50 Pro Capabilities
The HUAWEI Mate50 Pro is stylishly designed and available in two fashionable colours: Silver and Black, all of which highlight the smartphone's distinct textures. Orange is the eye-catching vegan leather variant designed for customers who enjoy vibrant colours. The beautiful appearance, however, is not the only characteristic that distinguishes the HUAWEI Mate50 Pro. The smartphone's
Tesla ordered to pay ex-worker $3.2m in racial case
Electric carmaker Tesla has been ordered to pay almost $3.2m to a black former worker after he won a racial harassment lawsuit. Owen Diaz, a lift operator from 2015 to 2016 at its Fremont factory, was subjected to a racially hostile work environment, a federal jury found. However, the payment has been slashed by 98%
Manchester Introduces Tourist Tax to Enhance Visitors' Experience
Manchester has recently implemented a "tourist tax" for visitors, making it the first city in the UK to do so. The City Visitor Charge will require individuals to pay an additional £1 per room, per night, for their accommodation cost. The revenue generated from this tax will be used to run large events, conferences, festivals,
McDonald's closes US offices, corporate job cuts
Fast-food giant McDonald's is temporarily shutting down its US offices ahead of an anticipated announcement on corporate job cuts. The Wall Street Journal reported that McDonald's has instructed US and some international staff to work from home so that it can deliver decisions on jobs remotely. The burger chain has not disclosed how many positions