Strategy has increased its cash reserves to $3.2 billion, strengthening its financial position as it continues to refine its Bitcoin-focused treasury strategy. The development follows a series of recent Bitcoin sales by the company, according to commentary on Yahoo Finance’s The Daily Wolf with Scott Melker. The move signals a more balanced capital management approach, giving the company greater liquidity while maintaining its status as the world’s largest corporate holder of Bitcoin. Strategy now holds approximately 843,000 Bitcoin, reinforcing its position as the biggest publicly traded corporate investor in the cryptocurrency. The company’s growing cash reserves come as it adjusts…
Author: Elvis Eromosele
Oracle could be required to provide more than $7 billion in financial guarantees for a major artificial intelligence data centre in Wisconsin after state regulators refused to ease rules designed to shield electricity consumers from the financial risks of large-scale energy projects. The requirement threatens to increase the cost of Oracle’s ambitious AI expansion, including its role in delivering computing capacity under a reported $300 billion contract with OpenAI. The Wisconsin Public Service Commission has declined to reconsider a rule requiring utility company We Energies to obtain substantial financial security from large data centre developers with credit ratings below a…
Meta Platforms is exploring a major expansion into the artificial intelligence infrastructure market, holding early-stage talks with AI company Anthropic over a computing services agreement that could be worth as much as $10 billion over two years. The proposed deal would see Meta lease computing capacity to Anthropic, signalling a potential new revenue stream for the social media giant beyond its core advertising business. According to reports, Anthropic initiated discussions in June, proposing to pay Meta monthly for access to its AI computing infrastructure. While negotiations are ongoing, sources familiar with the matter said the discussions remain preliminary and may…
A U.S. federal judge has approved Anthropic’s landmark $1.5 billion settlement of a copyright lawsuit brought by a class of authors who accused the artificial intelligence company of using pirated books to train its Claude AI chatbot. The ruling, issued on Monday by U.S. District Judge Araceli Martinez-Olguin in San Francisco, finalises what is believed to be the largest copyright settlement in U.S. legal history and marks the first major AI copyright case in the country to reach a settlement. In approving the agreement, Judge Martinez-Olguin rejected objections from some authors who argued the settlement amount was inadequate, unfairly compensated…
Ryanair has reported a sharp decline in quarterly profits after escalating conflict in the Middle East pushed up jet fuel prices and prompted travellers to delay booking flights, forcing Europe’s largest low-cost airline to cut fares. The Irish carrier said pre-tax profit fell 34 per cent to €593 million in the three months to June, despite carrying more passengers, as higher operating costs and weaker pricing weighed on earnings. Revenue edged up just 1 per cent to €4.4 billion during the quarter, while passenger traffic increased by 6%, helped by the Easter holiday. However, average fares declined 6 per cent as…
The European Union has imposed a record €550 million (£467 million) fine on Chinese online retail giant AliExpress for failing to prevent the sale of illegal, counterfeit and unsafe products on its platform. The penalty, announced by the European Commission, is the largest ever issued under the EU’s Digital Services Act (DSA), underscoring the bloc’s tougher stance on online marketplace accountability. AliExpress, owned by Alibaba Group, has rejected the decision, describing the fine as “disproportionate” and confirming it will appeal. The sanction follows a two-year investigation which concluded that AliExpress failed to adequately assess and manage the risks posed by…
The United States has sharply escalated its trade dispute with Canada after President Donald Trump imposed a 50% tariff on a broad range of Canadian imports, prompting Prime Minister Mark Carney to pledge intensified negotiations to avert further economic fallout. The new tariffs, announced on Monday, will take effect in 30 days and target a wide range of consumer and industrial goods, including wine, hockey sticks and cement. However, key Canadian exports such as energy products, potash, critical minerals and fish have been exempted. The White House said the move was in response to what Trump described as Canada’s “unequal…
Authorities in the United States and several South American countries have shut down or blocked nearly 3,000 websites accused of illegally streaming FIFA World Cup matches in one of the biggest anti-piracy operations linked to a global sporting event. The coordinated enforcement effort, led by the U.S. Department of Justice (DOJ), targeted websites accused of violating intellectual property rights by providing unauthorised access to World Cup broadcasts. The crackdown was carried out under two international investigations, Operation Offsides and Operation Red Card. According to the DOJ, more than 1,000 domains were seized or blocked in the United States, while Colombia…
President Bola Tinubu has approved the appointment of 26 individuals to the boards and management of 10 federal agencies and commissions, naming former Ekiti State Governor Ayodele Fayose as Chairman of the Rural Electrification Agency (REA). The appointments, announced in a statement issued by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, take immediate effect. As chairman of the REA Board, Fayose will work alongside Alhaji Ahmadu Abubakar and Engineer Ilyasu Ibrahim Makinta, who were appointed as non-executive directors. The board also includes the agency’s Director-General, Abba Abubakar Aliyu, and three previously appointed executive directors. The Rural Electrification…
The Federal Competition and Consumer Protection Commission (FCCPC) has resumed enforcement of the Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations, 2025 (DEON Regulations) after a Federal High Court in Lagos dismissed a suit challenging its authority to regulate Nigeria’s digital lending sector. In a statement issued in Abuja, Ondaje Ijagwu, FCCPC Director of Corporate Affairs, said the commission’s regulatory powers were affirmed following a judgment delivered by Justice A. L. Allagoa in a case filed by the Wireless Application Service Providers Association of Nigeria Ltd/Gte (WASPAN). According to the commission, the court dismissed WASPAN’s originating summons in its entirety…