oleh admin | Mar 24, 2025 | business, genetic disorders and diseases, genetic testing, healthcare and medicine, medicine and healthcare
The genetics testing company 23andMe has sought bankruptcy protection as part of efforts to facilitate its sale, according to confirmation from the U.S. based entity.
Following years of challenges with its business approach, 23andMe announced it had initiated voluntary Chapter 11 filings in the U.S. Bankruptcy Court for the Eastern District of Missouri.
According to Mark Jensen, who heads the company’s board of directors, this choice was made “in order to streamline the sales process and maximize the worth of the enterprise.”
Late Sunday saw the company issue a statement announcing that co-founder Anne Wojcicki had resigned from her position as CEO.
Wojcicki, who co-founded the company back in 2006, expressed her disappointment via X about the bankruptcy ruling. However, she also stated that she intends to submit a bid for the business.
“If I am fortunate enough to secure the company’s assets through the restructuring process, I remain committed to our long-term vision of being a global leader in genetics,” she said.
23andMe, known primarily for its at-home DNA testing kit, reached a peak valuation of $6 billion (€5.5 billion) in the past. Recently though, its worth has significantly decreased, partially because of a decline in customer orders.
In 2023, approximately half of the over 15 million clients of the California-based company experienced a data breach, sparking worries about the protection of the genetic information they store.
These concerns have persisted, as evidenced by California Attorney General Rob Bonta issuing a consumer warning about the firm on Friday.
Bonta stated that California boasts strong privacy regulations enabling consumers to gain control and ask companies to remove their genetic information.
“Considering 23andMe’s reported financial difficulties, I advise Californians to exercise their rights and request that the company deletes their data and destroys any genetic materials they possess,” he stated.
In November, the firm announced it would be terminating 200 employees, which accounted for approximately 40% of its total staff.
Upon Wojcicki’s departure, Joe Selsavage, who currently serves as the chief financial officer at 23andMe, will take over as the interim CEO of the company.
oleh admin | Mar 24, 2025 | business, machine learning, technology, technology companies, technology trends
VMPL
Gurgaon (Haryana), India, March 24: A new
Capterra study
highlights major trends likely to substantially affect SMB recruiters, talent scouts, human resources experts, and hiring authorities in the upcoming year. The research reveals a intricate connection between Indian job applicants and artificial intelligence within the recruitment process.
AI Adoption in Hiring
Although an overwhelming majority (87%) of Indian job seekers indicate
positive feelings
Regarding employers utilizing AI for recruiting, assessing, and prioritizing applicants, an impressive 65%, which represents the largest proportion across 12 investigated nations, might turn down a position if the hiring procedure excessively relied on automated systems. This underscores the essential requirement for equilibrium in integrating artificial intelligence technologies.
The research goes on to pinpoint particular domains where job seekers feel most at ease with AI incorporation, such as guaranteeing equitable chances (47%), conducting skill evaluations (49%), and assessing and ranking candidates (50%).
The Rise of AI-Enhanced
Job Applications
: A New Challenge
The growth of artificial intelligence in hiring extends beyond just companies; job applicants are also utilizing AI tools, as evidenced by 51% of participants who acknowledged employing these technologies during their present job hunt. Nevertheless, this development poses a fresh hurdle for recruiters. Astonishingly, 96% of Indian candidates engaging with AI in their job searches admitted to overstating or fabricating aspects of their abilities in application materials such as CVs, cover letters, online forms, or competency assessments.
Regarding the survey findings, David Jani, who analyzed the data, commented: “Artificial intelligence seems to be becoming a standard component in job searches for both candidates and recruitment teams. Nevertheless, how AI is utilized and its role within the hiring process could lead to issues if it relies heavily on automated skill assessments or personal attributes. Therefore, it’s crucial to strike a better balance—leveraging advancements in AI technology while also valuing the importance of human judgment in selecting new employees.”
Explore our catalog for HR management software options.
To learn more, kindly visit capterra.in
About Capterra
Capterra stands as the top B2B marketplace where organizations can discover the ideal software. Their platform links purchasers with more than 2 million authenticated user reviews covering products across 1,000 different categories. It also provides practical, unbiased information and guidance to assist these businesses in selecting the most suitable solution tailored to their particular requirements.
Press Contact
Palash Bhattacharjee,
[email protected]
(ADVERTORIAL DISCLOSURE: The aforementioned press release has been supplied by
VMPL
ANI shall not bear any responsibility whatsoever for the content thereof.
Provided by Syndigate Media Inc. (
Syndigate.info
).
oleh admin | Mar 24, 2025 | business, clothing and apparel, commerce, fashion & style, fashion and style
Samantha Cameron’s clothing line experienced a 5% drop in overall sales following the failure of a major wholesaler. However, the brand appears poised to compensate for this loss by shifting towards direct sales and expanding into brick-and-mortar retail outlets.
Mrs Cameron launched
In 2017, Cefinn was offering floral dresses and sophisticated trousersuits priced at up to £500.
Although it initially began primarily as a workwear label, it has recently expanded to include a wider range of casual attire.
The designs are favored by the Queen and the Duchess of Cornwall.
Edinburgh
and
Zara Tindall
However, the downfall of distribution channel Matches Fashion and issues with Net-A-Porter posed significant challenges.
This indicated that it needed to shift towards a direct-to-consumer strategy via its website and retail outlets, resulting in D2C sales rising by 28% to reach £3.6 million.
In an unexpected uplift, considering numerous other labels are shuttering their outlets, her new store on Elizabeth Street is anticipated to generate £500,000 in sales.
A source informed MailOnline: “The thriving brick-and-mortar store has defied the odds and is fantastic news for our operations.”
Cefinn’s customer base has grown by 29 percent throughout the year and this trend has carried over into the current fiscal period.
Before-tax losses marginally dropped from £357,000 to £354,000 over the course of the period. The company stated this was due to “the inherent characteristics of a developing, modern fashion enterprise that found itself compelled to alter its approach midway through the year without any missteps on their part,” as reported by the Times.
Last year’s downfall of MatchesFashion and the challenges faced by Net-a-Porter, alongside difficulties within the wider luxury e-commerce industry, has sent ripples through the market, affecting individual fashion enterprises.
As a consequence, numerous other brands are now focusing on direct-to-consumer sales strategies.
Lady Cameron garnered attention in recent years for her refusal to
To produce her clothing in Britain.
Seemingly disregarding British clothing manufacturers, her garments are made in facilities located in China, India, and Portugal.
Five years back, she initially disrupted UK manufacturers by stating that it was difficult to locate top-notch factories in the country.
In a recent interview, she sparked another controversy by stating that her reason for sourcing the material origins was due to sustainability concerns.
Recently, Cefinn launched two new stores: a permanent location on Elizabeth Street in Belgravia and a temporary one on King’s Road in Chelsea.
It is said that the firm is currently in talks regarding the establishment of an additional long-term outlet.
Cefinn has been asked for an opportunity to comment.
The article has been updated from a previous edition where it incorrectly reported that Cefinn experienced a £4.2 million loss. We aim to correct this by clarifying that the mentioned figure represents total revenue, which saw a decrease of 5% compared to the prior year.
Read more
oleh admin | Mar 24, 2025 | battery electric vehicles, business, car companies, cars, electric cars
Last year, Chinese automaker BYD experienced a significant increase in revenue, crossing the $100 billion threshold and outperforming competitor Tesla as the electric vehicle leader pushes forward with its international growth strategy.
In recent years, the company based in Shenzhen has become the undisputed frontrunner in China’s fiercely contested electric vehicle sector, which boasts the biggest market globally.
The company is also actively pursuing new expansion opportunities overseas, pledging to dominate the European market with a sleek new electric vehicle and ultra-rapid charging technology to compete with major European manufacturers.
Tesla faces a difficult period as China’s major advancement into Europe coincides with a decline in the company’s sales across the continent, which has been exacerbated by CEO Elon Musk’s backing of extreme right-wing political organizations in the region.
The statement released late Monday at the Shenzhen Stock Exchange revealed that BYD generated 777.1 billion yuan ($107.2 billion) in revenue for 2024.
That amount surpassed the $97.7 billion in revenue reported earlier by Tesla for last year.
This marked a 29 percent rise compared to the prior year and surpassed a Bloomberg prediction of 766 billion yuan.
In contrast, BYD’s net profit for last year reached 40.3 billion yuan, marking a 34 percent increase from 2023 and setting a new all-time high.
BYD — whose motto is “Build Your Dreams” in English — has experienced an exhilarating period with rapidly increasing sales figures, numerous disclosures, and skyrocketing share prices.
In January, they reported selling almost 4.3 million vehicles in the past year, which represents an increase of over 40% compared to the prior year.
In February, monthly sales surged by 161 percent to reach 318,000 units, significantly surpassing the considerable drop experienced by Tesla during the same timeframe.
Charging ahead
This month, BYD’s stocks listed in Hong Kong reached an all-time peak following the company’s announcement of new battery tech that reportedly enables charging an electric vehicle as quickly as filling a gasoline-powered car.
The “Super e-Platform” battery and charging system claims to reach top speeds of 1,000 kilowatts and enables vehicles to cover up to 470 kilometers (292 miles) following a five-minute recharge, as stated by the firm.
In contrast, Tesla’s Superchargers presently provide charging rates of 500 kilowatts.
Last week, BYD Vice-President Stella Li stated that “registration figures will surge” in Europe for the months of March and April.
The organization has initiated significant advertising efforts through sponsorships such as supporting last year’s UEFA European Football Championship and by establishing several new showrooms throughout Europe.
Nevertheless, the strained relations and trade disputes between Beijing and western nations could potentially overshadow the firm’s international aspirations.
BYD stands out as one of the leading figures among China’s emerging automotive powerhouses, having thrived with significant backing from Beijing. The government has allocated substantial state resources toward this industry.
This strategy has provided local companies with a significant advantage in the competition to offer less expensive, more fuel-efficient electric vehicles compared to major American car manufacturers, who haven’t consistently benefited from similar government support.
The EU authorities are apparently looking into whether the Chinese government offered uneven subsidies for BYD’s initial plant in Europe, located in Hungary, with plans to begin electric vehicle manufacturing later this year.
Last week, Li informed AFP that the firm would maintain “extreme transparency” and expressed readiness to collaborate with any inquiry.
In the meantime, US President Donald Trump has recently introduced increased blanket tariffs on Chinese goods, exacerbating a previous measure enacted by his predecessor Joe Biden that essentially prohibits the utilization of Chinese technology in intelligent vehicles.
Following Tesla’s announcement of weaker-than-anticipated earnings for the fourth quarter of 2024 at the end of January, BYD released impressive financial figures.
The downturn marked a varied year for Tesla, where Trump supporter Musk’s significant investment in U.S. electoral politics faced challenges from profitability issues. This was compounded by the cessation of the company’s run of consecutive yearly increases in vehicle production.
oleh admin | Mar 24, 2025 | banking, business, investing, investing business news, money
-
The highest-grossing firms and banks in Kenya showcased significant increases in profits along with considerable dividend distributions for the fiscal year 2024, with the banking sector at the forefront.
-
Large financial institutions such as the Co-operative Bank, KCB Group, and Standard Chartered Bank saw notable increases in their annual profit figures.
-
Daniel Kathali, an economist who spoke with LIFEHACK.co.ke, stated that the profit margins can partially be credited to yields from government bonds along with elevated interest rates on loans and several additional elements.
Elijah Ntongai, who works as a journalist for LIFEHACK.co.ke, possesses over four years of experience in researching and reporting on finance, businesses, and technology. He offers valuable perspectives on both local Kenyan developments and international patterns.
Investors in Kenya are rejoicing as the start of the 2024 fiscal year brings a wave of strong profit declarations and substantial dividend distributions from several top firms across the nation.
All publicly traded companies, including major banks and leading firms in industries such as energy, agriculture, and corporations, have published their fiscal year-end results for the period concluding in December 2024, as mandated.
What factors led to higher profitability?
Significantly, numerous firms listed on the Nairobi Securities Exchange reported unprecedented profits and dividends, crediting their enhanced profitability to different strategic approaches.
Commenting on the increase in profitability during a time when numerous Kenyan enterprises and overall business expansion faced challenges nationwide, Daniel Kathari observed that many companies must prioritize their stakeholders and undertake ventures that generate greater returns.
In recent times, we’ve observed a rise in internal lending by the government. Consequently, numerous enterprises, especially within the finance industry, have seized the chance to significantly invest in low-risk Treasury bonds and notes, yielding substantial returns. Additionally, these banking institutions have made considerable investments beyond Kenya’s borders; their overseas branches are generating significant revenue as well.
Don’t overlook the fact that loan interest rates were extremely high, enabling banks to levy up to 20%, thereby potentially boosting their profit margins. The stabilization of the Kenyan shilling likely played a role as well in contributing to the substantial profits recorded in 2024,” remarked Kathali.
Companies and dividends announced
In 2024, the banking sector has proven to be exceptionally successful, with leading banks announcing significant increases in profits and substantial dividend payouts for 2025.
Company
|
YoY profit growth (%)
|
Profit after tax (KSh)
|
Dividend paid out per share (KSh)
|
Payment date
|
1.
|
Cooperative Bank of Kenya PLC
|
9.8%
|
25.5 billion
|
Final dividend of KSh 1.50
|
June 10, 2025
|
2.
|
ABSA Bank Kenya Plc
|
28%
|
20.9 billion
|
Final dividend of KSh 1.75
|
May 22, 2025
|
3.
|
Standard Chartered Bank in Kenya Limited
|
45%
|
20 billion
|
Final dividend of KSh 37
|
May 28, 2025
|
4.
|
KCB Group Plc
|
64.9
|
61.8 billion
|
Final dividend of KSh 1.50
|
May 23, 2025
|
5.
|
Stanbic Holdings Plc
|
12.8%
|
13.71 billion
|
Final dividend of KSh 18.90
|
May 16, 2025
|
6.
|
East African Portlands Plc
|
Final dividend of KSh 1.00
|
March 21, 2025
|
7.
|
Safaricom Plc
|
Intermediate dividend of KSh 0.55
|
March 21, 2025
|
8.
|
Kenya Power & Light Company PLC
|
Intermediate dividend of KSh 0.20
|
April 11, 2025
|
9.
|
EABL
|
Intermediate dividend of KSh 2.50
|
April 30, 2025
|
10.
|
KenGen
|
Final dividend of KSh 0.65
|
February 13, 2025
|
As many leading Kenyan firms have already released their fiscal year 2024 earnings reports along with dividend distributions, market participants are now looking forward to similar updates from additional sector leaders.
A number of these firms like Safaricom Plc, Equity Group Holdings Plc, and British American Tobacco Kenya (BAT Kenya) are anticipated to disclose their financial outcomes for the fiscal year ending December 2024 along with the subsequent final dividend distributions.
oleh admin | Mar 24, 2025 | business, data centers, technology, technology industry, technology trends
New Delhi [India], March 24 (ANI): India’s Generative Artificial Intelligence (GAI)
AI
The sector is anticipated to experience significant expansion over the coming half-decade, leading to an increased requirement for data centers (DC), according to a report by ANAROCK.
The report indicated that according to industry estimations, the market size for GenZ technologies is substantial.
AI
In India, it is forecasted to expand from $1.1 billion in 2025 to $6.4 billion in 2030, with a compound annual growth rate (CAGR) of 42 percent.
It was stated that “Data centers will have a significant part during this digital transformation due to the rising demand for computational power, storage, and more.”
data management
capabilities”.
As
AI
As cloud-dependent applications continue to advance, data center operators are reassessing their strategies to meet the heightened requirements of infrastructure. There is an increasing need for greater computational power, enhanced storage solutions, and improved efficiency.
data management
is driving the growth of data centers nationwide.
Additionally, as Gen
AI
Shifts toward real-time applications will make low-latency processing essential. Consequently, this trend will result in an increase of edge data centers designed to bring computation nearer to end-users and minimize latency issues.
There will be substantial growth in the requirement for edge data centers, particularly in secondary-tier cities like Jaipur, Ahmedabad, Visakhapatnam, Kochi, Bhubaneswar, Lucknow, and Patna. Such installations will facilitate processing data nearer to end-users, thereby enhancing both velocity and effectiveness.
AI
-driven applications.
As the data center sector expands rapidly, there is significant emphasis on sustainability and energy efficiency. Data center operators are giving priority to renewable energy resources and implementing energy-saving technologies to address the increasing power needs of these centers. This move toward eco-friendly data centers supports India’s wider environmental objectives and energy regulations.
In the past five years, India’s data center industry has experienced significant expansion, transforming from a minor niche into a key area of investment. In the last ten years, investments from private equity firms, joint ventures, and mergers totaling more than $6.5 billion have driven this development. Additionally, the classification of data centers as infrastructure has simplified funding options for their projects.
As global and private investors maintain their enthusiasm, India’s data center sector is poised for substantial growth in the upcoming years, significantly contributing to the nation’s digital evolution. (ANI)
Provided by SyndiGate Media Inc.
Syndigate.info
).
