German sportswear giant Adidas posted its first annual loss in more than 30 years on Wednesday and warned sales in North America would fall again as sportswear retailers in the U.S. struggle with high inventories. Adidas has been battling to right itself after it cut ties with Kanye West in October 2022, suspending sales of the...
Day: <span>13 March 2024</span>
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TikTok faces a possible US ban or sell its stake, congress proposed bill
TikTok is facing an uphill battle in the US, the government says the social media platform pose danger to children and the American society. Recently the House Energy and Commerce Committee introduced a bill designed to pressure ByteDance into selling TikTok or face the ban the in the country. According to tech insiders, the government...
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OPINION | Before chasing artificial intelligence, develop human capital writes Malcolm Curor
While reams of conversation about the promise that Artificial Intelligence (AI) holds for the mining sector, a robust industry first demands the development of human capital said United Manganese of Kalahari (UMK) chief executive Malcolm Curor. Presently, Curror said, there is a skills deficit in the sector. “Mining, particularly with a view to growing demand...
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Standard Chartered Kenya’s pre-tax profit increases to 15% in 2023
Standard Chartered Kenya posted a 15% increase in its pre-tax profit for 2023 to 19.6 billion shillings ($141.31 million), its chief financial officer said on Tuesday, buoyed by higher revenue from loans. The lender, which is one of the oldest in the East African nation, cut its investments in local government bonds by 8% during the...