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ICON plc has agreed a multi-year collaboration with Anthropic to put Claude across the clinical trial process. The Dublin company is a contract research organisation, which means pharmaceutical firms pay it to run their trials. It employed roughly 40,200 people across 99 locations and 55 countries at the end of June. Neither company disclosed financial […]
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Bending Spoons has agreed a €500m loan facility guaranteed by the Italian state. The guarantee comes from SACE, Italy’s export credit agency, which is wholly owned by the Ministry of Economy and Finance. HSBC Continental Europe, Intesa Sanpaolo and BPER Banca arranged the facility, which matures in March 2031. The Milan company will use the […]
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The Italian state just backed €500m for the company that owns AOL Read More »
Two hotel groups moved into ChatGPT this week, a day apart and at opposite ends of the market. Radisson Hotel Group launched an app on Tuesday, built with Accenture, covering more than 1,000 hotels in over 100 countries. G6 Hospitality launched a plugin for Motel 6 on Monday, covering nearly 1,500 economy locations across the […]
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Two hotel groups moved into ChatGPT this week. Neither will let you pay there Read More »
Wall Street has spent three years paying for the companies that build AI. It is starting to pay for the companies that use it. The rotation has a number behind it. Morgan Stanley ran a systematic analysis of earnings call transcripts. It found that 25% of S&P 500 members cited measurable benefits from AI adoption […]
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A quarter of the S&P now claims measurable AI benefits. Last year it was 14% Read More »
Cover Genius has acquired Friendsurance, the Berlin company that invented peer-to-peer insurance. The deal took effect immediately, and neither side disclosed a price. Friendsurance built its name on a simple idea. Small groups of policyholders pool together, and everyone who stays claim-free collects cash back at the end of the year. Its own German language […]
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Friendsurance invented peer-to-peer insurance. It just sold for its paperwork. Read More »
Coforge reported first quarter revenue of $592.2m on Monday. That is a rise of 33% in dollar terms over the year, and 21.1% on the previous quarter. In rupees the annual increase reads 49%. Profit after tax reached $55.6m. Those numbers land in an industry bracing to shrink. HCL Technologies has warned of “AI deflation”. […]
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Coforge says AI is expanding its margins. Its rivals call it ‘AI deflation’ Read More »
Amkor Technology reported record second quarter results on Monday. Revenue reached $1.9bn, up 26% on a year earlier, and net income more than tripled. Operating income roughly doubled to $200m. Earnings came in at $0.70 a diluted share, against $0.22. EBITDA reached $400m. The numbers matter less than what the company plans to do next. […]
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Amkor will spend up to $3bn this year, close to 40% of its revenue Read More »
X Money went live on Monday. Buried in its support pages is a rule that no ordinary bank applies to a current account. “If your X account is suspended for violating Child Safety or Violent and Hateful Entities policies, you will lose Money access,” the company FAQ states. Any remaining balance “will be mailed to […]
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X Money can cut off your account over what you post Read More »
Ofcom proposed on Tuesday to block a discounted wholesale offer from Openreach, the first time the regulator has ever moved to stop a commercial deal from BT’s network arm. The offer would have given internet providers up to £9.50 off per customer per month, for as long as 30 months, when they connected more new […]
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Ofcom has never blocked an Openreach offer before. It just moved to block this one. Read More »
Fitch Ratings has gathered a number of the market’s quieter anxieties into a single sentence, warning that a possible AI market correction is now emerging as one of the biggest credit risks facing the global economy. The judgement comes in the agency’s third-quarter Global Risk Outlook, published this week, and it lands at a moment […]
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An AI correction is now a top global credit risk, Fitch says Read More »