billion

Anthropic settlement is a turning point in the AI-versus-authors fight — but the larger battle is only beginning The tentative deal announced this week, in which Anthropic has agreed to pay at least $1.5 billion to resolve a U.S. class action alleging that the company trained its Claude models on pirated books, marks one of the clearest commercial reckonings so far between generative-AI companies and the creators whose work fuels them. On its face the settlement is startling: the filing says it covers roughly 500,000…

EU slaps Google with €2.95 billion fine — a test of whether Europe can actually tame Big Tech BRUSSELS — In a decisive move that underscores Europe’s determination to reshape the digital economy, regulators on Friday fined Google €2.95 billion ($3.5 billion), ruling that the U.S. search giant abused its dominance in online advertising by steering business to its own services and squeezing rivals, publishers and advertisers. The European Commission said the practice — centered on Google’s AdX exchange and DFP ad server —…

Amid a backdrop of controversy, top brass in Kenya's government, including President William Ruto, staunchly defended controversial accords with the Adani Group . However, the tide has turned. President Ruto decided to annul the procurement process poised to hand the keys of Kenya's primary airport to India’s corporate heavyweight, Adani Group, following the indictment of its founder in the U.S. This dramatic revelation came on Thursday as part of Ruto’s address to the nation. The original agreement, a hefty $2 billion…

In a significant move, Somalia has announced the cancellation of over $1.1 billion in loans, roughly a quarter of their outstanding debt. Wow, isn't that a breath of fresh air? This declaration follows a string of similar commitments by lenders, freeing Somalia from financial shackles. The burden originated chiefly during Siad Barre's authoritarian rule, the aftermath of which led to civil chaos lasting three decades. The saga of heavy debt continued to loom large until now. President Hassan Sheikh Mohamud described the…

U.S. Approves Over a Billion Dollars for Somalia's Debt Forgiveness as Trump Wins Election MOGADISHU, Somalia - In a move cloaked under the shadow of Donald Trump's electoral triumph, the United States endorsed a hefty $1.14 billion debt relief package for Somalia. This development follows the East African nation's rigorous economic and financial reforms. This financial respite, officials disclosed, intends to…

In the bustling city of Mogadishu, there's a breath of fresh air as the U.S. has lifted a heavy burden off Somalia's shoulders. A staggering $1.14 billion in debt has been forgiven, setting the stage for the nation to rebuild its economy and strengthen vital public services. During a spirited announcement, U.S. Ambassador to Somalia, Richard Riley, highlighted this decision as a testament to America’s solid dedication to Somalia's promising future. "With this debt forgiveness, we're showing our steadfast support for the…

Mogadishu (AX) — In a monumental financial shift, Somalia has seen $1.14 billion in debt forgiven by the United States, signaling a significant stride towards achieving economic stability and revitalizing fundamental public sectors. Richard Riley, the US Ambassador to Somalia, shared this news in Mogadishu, emphasizing America’s strong dedication to bolstering Somalia’s future. Emboldened by this support, Riley stated, "This debt cancellation underlines our unwavering commitment to aid the Somali people in their pursuit…

MOGADISHU, Somalia - Somalia's parliament, armed with two chambers, has given a thumbs-up to a $1.3 billion budget, marking a high point over the years. This financial plan is set to boost various economic sectors, including funding for ongoing infrastructure projects. This approval covers both spending and income as outlined in the Appropriation Act for 2025, ensuring that many governmental departments can pursue their programs seamlessly over the next year. In a unanimous vote, MPs pushed the budget to $1.3 billion, a…

Mogadishu (AX) — The bicameral legislature of Somalia has greenlit a substantial budget of $1.36 billion for the fiscal year 2025, reflecting a robust increase of 24.4% over the previous year. This decision came during a parliamentary session held on Monday in the capital, Mogadishu. In attendance were 143 Members of Parliament and 32 senators. The First Deputy Speaker of the People's Assembly, Saadiya Yasin Haji Samatar, confirmed that an overwhelming majority of 172 lawmakers backed the budget, with only two MPs voting…

According to recent reports, the UK armed forces are poised to receive a substantial £3 billion boost. This financial injection comes as Rachel Reeves gears up to present the Labour government’s inaugural Budget. Diving into the details, the Chancellor plans to delineate an uptick in defence spending for the upcoming year during her address in the House of Commons. A portion of this windfall will be earmarked for a pay increase for soldiers retroactively effective from April, as noted by the Telegraph. Additionally, these…