In a major signal of AI’s accelerating adoption across industries, business spending on generative AI has surged a staggering 500% this year, climbing from $2.3 billion in 2023 to an impressive $13.8 billion in 2024, according to new data from Menlo Ventures. The explosive growth in AI investment reflects a broader trend of increasing reliance […]
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BNP Paribas Asset Management has launched the BNP Paribas Future Forest Fund, a $500 million sustainable forestry initiative aimed at balancing profitable timber investments with climate resilience and biodiversity preservation. Developed in collaboration with the International Woodland Company (IWC), this fund targets certified sustainable timber assets across key markets, including the U.S., Australia, New Zealand, […]
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The global transition to a sustainable and low-carbon economy is gathering pace, presenting significant opportunities across industries and sectors. One particularly exciting prospect lies within the small and medium-sized enterprise (SME) sector, which, according to a joint report by the International Chamber of Commerce (ICC) and software provider Sage, holds the potential to unlock a […]
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WASHINGTON, Nov 18 (Reuters) — The U.S. government has finalized an unprecedented $6.6 billion incentive package to support Taiwan Semiconductor Manufacturing Company (TSMC) as part of its plan to build three state-of-the-art semiconductor fabrication facilities in Arizona. The investment package, which includes direct funding, is designed to bolster TSMC’s commitment to spend approximately $65 billion […]
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In a groundbreaking decision that underscores the growing intersection of cryptocurrency and criminal law, Larry Harmon, the operator of the illicit Helix cryptocurrency mixer, was sentenced to three years in prison in 2024 for his role in a large-scale money laundering conspiracy. This sentence marks a significant moment in the evolving legal framework surrounding cryptocurrency […]
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As both France and Germany, Europe’s two largest economies, grapple with political gridlock over their respective national budgets, the financial stability of the eurozone is hanging in the balance. French lawmakers recently rejected a proposed draft budget for 2025, while Germany enters the new year without a final spending plan. This growing fiscal uncertainty could […]
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The Federal Trade Commission (FTC) has filed a lawsuit against Seek Capital and its CEO Roy Ferman for allegedly operating a deceptive business finance scheme that caused significant financial harm to small business owners. According to the FTC’s complaint, the company’s fraudulent practices have resulted in more than $37 million in damages to small business […]
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The financial inclusion community has a pivotal opportunity to help shape amendments to the global anti-money laundering, terrorist, and proliferation financing (AML/CFT/CPF) standards set by the Financial Action Task Force (FATF). With a public consultation open until December 6, 2024, the FATF is seeking feedback on revisions that will better align its risk-based standards with […]
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At COP29 in Azerbaijan, a landmark pledge was made by major development banks, including the World Bank, to ramp up climate finance in the coming decade. The commitment of $120 billion annually by 2030 represents a 60% increase from current levels and aims to address the urgent climate challenges faced by low- and middle-income countries, […]
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In a move set to empower the next generation of engineers, the GE Aerospace Foundation has officially launched its Next Engineers program in Warsaw, Poland, in collaboration with the Perspektywy Education Foundation. The program, which has already made significant strides in other parts of the world, aims to inspire and prepare young people to pursue […]
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