Business

Laffont: Cuts Tesla Stake, Doubles Down On Alibaba’s AI Push

Laffont: Cuts Tesla Stake, Doubles Down On Alibaba’s AI Push

November 22, 2025 7:28 am

Coatue’s Philippe Laffont trimmed his Tesla holdings while expanding his bet on Alibaba, signaling shifting confidence in global tech and artificial intelligence trends.

Billionaire investor Philippe Laffont is recalibrating his tech portfolio, cutting his exposure to Tesla while significantly increasing his commitment to one of China’s most influential technology companies. The latest quarterly disclosures from Coatue Management show a sharp shift in strategy as investors worldwide reassess the balance between electric vehicles and Artificial Intelligence (AI).

Laffont, who oversees roughly $41 billion at the New York–based hedge fund, reduced his Tesla position by 15% during the quarter ending in September …

Singapore Airlines To Introduce High-Speed LEO Satellite Wi-Fi

Singapore Airlines To Introduce High-Speed LEO Satellite Wi-Fi

November 21, 2025 7:26 am

Singapore Airlines will roll out LEO satellite Wi-Fi on its long-haul Airbus fleet, delivering faster connectivity alongside new A350 cabins from 2026.

The upgrade was outlined during a recent investor presentation and is set to complement the airline’s S$1.1 billion cabin retrofit program. That project covers 41 Airbus A350-900 aircraft, including the ultra-long-range models used on routes such as Singapore–New York, among the world’s longest commercial flights.

Singapore Airlines had initially planned to introduce its new cabins on Boeing’s long-delayed 777-9, but after years of postponements, the carrier shifted the initiative to the A350 fleet. The move allows customers to …

Tantalizers Sign Five-Year Prawns Export Deal To United States

Tantalizers Sign Five-Year Prawns Export Deal To United States

November 20, 2025 10:58 am

Nigerian food group Tantalizers Plc, secures multi-million-dollar seafood pact with United States importer, boosting hopes for stronger non-oil exports.

Tantalizers Fisheries Limited, a subsidiary of Nigerian Tantalizers Plc, has signed a five-year offtake agreement with US-based Harvester Fisheries LLC to export premium prawns and shrimps to the American market. The deal marks a significant step for the Nigerian company as it seeks to expand beyond its traditional fast-food and domestic operations.

The agreement, described as a multi-million-dollar partnership, was disclosed in a filing to the Nigerian Exchange (NGX) and signed by the company’s secretary, Olamide Babawale-Mo. Under the terms, Tantalizers

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Adenuga Gains Most as Conoil Approves N2.43bn 2024 Dividend

Billionaire Adenuga To Receive Bulk Share Of Conoil Dividend

November 17, 2025 4:38 am

Conoil’s ₦2.43 billion final dividend for 2024 will deliver substantial returns to shareholders, with chairman Mike Adenuga receiving the largest payout now

Conoil Plc has announced a final dividend of ₦2.43 billion for the 2024 financial year, a move that is set to deliver significant returns to investors and reaffirm the company’s commitment to shareholder value despite volatility in Nigeria’s petroleum market.

The Lagos-based oil marketing firm disclosed that the distribution will apply to shareholders listed in its Register of Members as of the close of business on November 21, 2024. The dividend, proposed at ₦3.50 per share,

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Nigeria's 3 Dominates Africa’s Top 300 Banks, GTB Leads Again

Nigeria’s 3 Dominates Africa’s Top 300 Banks, GTB Leads Again

November 15, 2025 9:25 pm

Guaranty Trust, Zenith, United Bank for Africa (UBA) top Africa’s 2025 finance ranking, reflecting Nigeria’s strong banking growth and investor confidence.

Nigeria has reinforced its position as a powerhouse in Africa’s banking sector, with Guaranty Trust Bank (GTB), Zenith Bank, and United Bank for Africa (UBA) among the top five institutions on The Africa Report’s 2025 ranking of the Top 300 Finance Champions.

The ranking evaluates Africa’s largest banking groups based on profitability, solvency, liquidity, credit quality, and total assets. GTB retained the top spot for the second consecutive year, followed by Zenith Bank at third and UBA at fifth.

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Ellah Lakes Targets ₦235 billion To Expand Palm Oil Business

Ellah Lakes Targets ₦235 billion To Expand Palm Oil Business

November 13, 2025 10:09 pm

Nigerian agro firm launches ₦235 billion public offer to acquire new assets, expand land holdings, and position among top palm oil producers by 2030.

Ellah Lakes Plc is making an ambitious move to cement its place among Nigeria’s largest palm oil producers, unveiling a ₦235 billion public offer to fund new acquisitions and expansion projects across the country’s fast-growing agribusiness sector.

The agro-allied company said the capital raise would finance its purchase of Agro-Resources and Processing Nigeria Limited (ARPN) from the Tolaram Group and support the construction of a new crude palm oil processing mill at ARPN’s site in Edo …

CEO Elon Musk Plans ‘Gigantic’ Chip Fab To Boost Tesla Output

CEO Elon Musk Plans ‘Gigantic Chip Fab’ To Boost Tesla Output

November 13, 2025 7:57 pm

Tesla CEO Elon Musk says chip shortages are limiting vehicle and robot production, proposes building massive in-house semiconductor factories.

Elon Musk announced plans to build an enormous semiconductor manufacturing facility, aiming to secure the chips needed for Tesla’s ambitious electric vehicle and robotics projects.

Speaking at Tesla’s annual shareholders meeting on Thursday November 6, 2025, Musk described chip availability as a “limiting factor” for the company’s next-generation vehicles, including the driverless Cybercab, and the Optimus humanoid robot. Despite buying all available chips from major contract manufacturers like TSMC and Samsung, Musk said current supply cannot meet Tesla’s growing demand.

“As …

Ethereum Drops To $3,290 As Whales Accumulate $80 Million ETH

Ethereum Drops To $3,290: Empowers “Whales” With $80 Million

November 9, 2025 2:10 am

Ethereum completes a 20% correction from $4,165, triggering whale accumulation and renewed trading activity amid shifting market sentiment and volatility.

Ethereum’s price fell sharply to around $3,290 on Thursday November 6, 2025, completing a 20% correction from recent highs as large holders — known as “whales” — began accumulating the cryptocurrency amid a surge in trading activity.

The decline follows a projected technical correction outlined by analysts who predicted a drop from $4,165 to the $3,300 range, based on repeating historical patterns. Data from CoinGecko shows Ethereum trading at $3,290.95, marking a 4.8% loss over 24 hours and an 11.2% …

Intel Shares Skyrockets As Musk Teases Tesla Chip Partnership

Intel Shares Skyrockets As Musk Teases Tesla Chip Partnership

November 7, 2025 11:02 pm

Intel stock climbed after Tesla CEO, Elon Musk revealed Tesla may collaborate with the chipmaker to build massive AI manufacturing facilities.

Intel’s stock jumped more than 2% on Friday November 7, 2025, after President Elon Musk hinted that Tesla may partner with the U.S. chipmaker to build advanced artificial intelligence manufacturing plants. The comments, made during Tesla’s annual shareholder meeting, sent Intel’s shares up by as much as 4% in after-hours trading.

Speaking before a packed audience, Musk said Tesla might need to construct what he described as a “gigantic chip fab” to produce enough AI chips for the company’s …

Warren Buffett’s 90/10 Rule: A Simple Pathway To Great Wealth

Warren Buffett’s 90/10 Rule: A Simple Pathway To Great Wealth

November 7, 2025 10:23 pm

Warren Buffett’s 90/10 investing formula—90% in a low-cost S&P 500 fund and 10% in short-term bonds—offers simplicity, low fees, and steady long-term growth.

Warren Buffett’s “90/10 rule” has become one of the most discussed investment formulas among everyday investors—a strategy that combines simplicity, patience, and trust in the long-term strength of the U.S. economy.

The concept, outlined by Buffett in a 2013 letter to Berkshire Hathaway shareholders, is straightforward: allocate 90% of your investment portfolio to a low-cost S&P 500 index fund and the remaining 10% to short-term U.S. government bonds. Buffett’s rationale is that most individuals lack the …

Microsoft: Sends 60,000 Nvidia AI Chips To UAE Under US Deal

Microsoft: Sends 60,000 Nvidia AI Chips To UAE Under US Deal

November 3, 2025 6:54 pm

Microsoft secures approval to supply advanced Nvidia AI chips to the UAE, despite Trump asserting the US would restrict exports of cutting-edge technology abroad.

Microsoft will ship more than 60,000 of Nvidia’s most advanced artificial intelligence chips to the United Arab Emirates (UAE), under a US government-approved licensing agreement designed to balance national security with global tech collaboration.

The announcement comes shortly after President Donald Trump stated in a high-profile “60 Minutes” interview that the United States would not export the most sophisticated AI chips to other countries. “We will not let anybody have them other than the United

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Michael Jackson's $105m Named 2025's Top-Earning Late Celebrity

Michael Jackson: 2025 Top-Earning Late Celebrity, $105 Million

November 3, 2025 8:57 am

Pop legend, Michael Jackson leads Forbes’ list with $105 million in posthumous earnings, driven by streaming, music rights, and revived global interest.

Michael Jackson has once again claimed the title of the world’s highest-earning deceased celebrity, topping Forbes’ annual list for 2025 with an estimated $105 million in posthumous earnings. The figure underscores the enduring economic power of the “King of Pop,” more than 15 years after his death.

Forbes, which has been tracking the earnings of late celebrities for over two decades, reported that Jackson’s estate benefited from a combination of music royalties, licensing deals, and continued global interest …

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𝐀𝐟𝐫𝐢𝐜𝐚 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐍𝐞𝐰𝐬, 𝐍𝐞𝐰 𝐘𝐨𝐫𝐤, is a nonpartisan online news portal founded on the truth to provide you with weekly, insightful articles written with precision and current updates on current events from Africa in particular and the rest of the world in general. All of our reports undergo extensive fact-checking to ensure their veracity, and we adhere strictly to the facts, no matter whose ox is gored.

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