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  AS NFT art sales dwindle and only  handful of digital-art stars appear to be weathering the  crypto  storm. The days of NFTs of JPEGs selling for $69.3 million may be over for now. Still, a handful of leading digital artists held their own during a Christie’s charity sale that tested the lasting appeal of tokenized digital art amid a recent crash in cryptocurrency crash. Christie’s $1.6 million “Cartography of the Mind” sale exceeded the auction house’s own $1.5 million expectations, but none of its 27 NFT offerings were priced to sell for over $250,000. The auction comes amid a market meltdown for cryptocurrencies, many of which, like Ethereum and Bitcoin, have recently plummeted to less than half of their peak values. The Christie’s sale amounted to a who’s who of NFT artists, including Refik Anadol, Beeple, and Mad Dog Jones. They rose to global prominence amid last year’s jackpot for digital art, thanks to the advent of non-fungible tokens or NFTs and flush cry...

  Volt  Bank  Ltd, Australia’s first exclusively online bank to gain a banking license in the country, said it would shut down, return deposits and sell its mortgage book after failing to raise sufficient finances to fund the business. Volt’s collapse is a further blow to a business model that the Australian regulators and government promoted heavily after a 2018 investigation into misconduct in the finance sector led to a loosening of rules for new banking entrants. Rising interest rates and inflation this year have made it harder for online-only banks, called neobanks in Australia, to compete with established lenders, making fundraising much more difficult. Though the pandemic and COVID-19 restrictions triggered massive demand for home loans in Australia, the shift to working at home also prompted traditional banks to embark on a digital arms race, narrowing approval times for loans and eroding the competitive advantage of ne obanks. The firm had A$113 million ($78 mill...

  When you own an enterprise, no matter how small or big, protecting it from all types of risk is among the most crucial things you could do. But there are several insurance plans and policies to choose from. Hence, you may be wondering which ones your business really needs. Don't worry about it. We can help you out with that. Because no two organizations are alike, just as no two individuals are alike, whenever it concerns ensuring your enterprise, there is never a one-size-fits-all solution.   Depending on the industry, you may need various types of business insurance. For instance, a construction company is very distinct from a beauty parlor or a supermarket. At the very least, you need to get these kinds of business insurance that cover the risks that come with operating a company: Note: Please keep in mind that the price of such insurances and the coverage types you need shall depend on how your business works, how big it is, and what kind of firm you run. Seven impo...

  Volkswagen is close to selling minority stake in its US EV charge business to an arm of Siemens AG, a deal which would value the  network  at over $2 billion, according to sources. A stake sale in Volkswagen’s Electrify America LLC would generate additional financing as part of a strategy to more than double the number of EV charging stations that Electrify America operates across the US and parts of Canada to 1,800 by 2026. Electrify America, based in Reston, Virginia, also offers EV charging stations for use at home. According to sources, Germany-based Siemens would invest in its Siemens Financial Services subsidiary. The deal would complement Siemens’s existing operations in the EV charging sector. In August 2021, the technology and engineering firm said it plans to expand its manufacturing operations in the US to make over 1 million EV chargers for that market over the next four years. Bets on EV charging networks are supported by a doubling of EV  auto  s...

  Valve will be doubling the number of Steam Decks it ships to customers, the firm announced. In a tweet from Steam Deck’s official account, Valve said the production of the Steam Deck had picked up, and the firm would be shipping over double the number of Steam Decks weekly. Suppose you’ve been eagerly refreshing your inbox regularly for the chance to  order your Steam Deck reservation. In that case, Valve’s increased production could be a sign that you might be able to buy your Steam Deck sooner than you expected. And if you are in that Q3 window, you should keep an eye on your inbox on June 30 th,  2022. Valve said the first Q3 order emails would go out then. You will want to have a close eye out for that email, as Valve only gives you 72 hours to complete an order it’s sent out. If you do miss that window, though, Valve suggests you contact Steam Support—the firm recently clarified that it offered a grace period of a few days to place an order for the Steam Deck. Valv...

  Russia defaulted on its foreign- currency  debt for the first time in over a century, culminating in ever-stringent Western sanctions that shut down payment methods to overseas creditors. For months, the nation found paths around the penalties imposed after it invaded Ukraine. But, the grace period on about $100 million of ensnared interest payments due May 27 terminated, a deadline thought of as an event of default if missed. It’s a grim marker in the nation’s rapid transformation into an financial, economic, and political outcast. The country’s Eurobonds have traded at distressed levels since the beginning of March. Russia’s central bank’s foreign reserves remain frozen, and nation’s the biggest banks are severed from the global financial system. Russia has fought back against the default designation, saying the country had the reserves to cover any bills and has been forced into non-payment. As it tried to twist its way out, it announced last week that it would switch to ...

Barack and Michelle Obamas’ media firm struck an exclusive podcasting deal with Amazon.com Inc.’s Audible, a move that comes shortly after a similar  agreement  with Spotify wasn’t extended. As a result of the deal, Audible will have exclusive first-look rights to all podcasts created by Higher Ground, the production firm that the Obamas created in 2018. Financial terms of the multilayer agreement weren’t disclosed, nor were details about programming or how many podcasts the deal might include. The deal is significant for Audible, which began as an audiobook firm but has expanded into podcasts and other areas of audio entertainment. Its celebrity podcasts include “Climate of Change,” which examines the changing environment and is hosted by Cate Blanchett and entrepreneur Danny Kennedy; and “My Body, My Podcast,” which focuses on sex education and was created by actress Elizabeth Banks. Barack Obama said that at Higher Ground, they always have sought to lift voices that deserve...

  Canadian parliaments lower house passed legislation that would bring  online streaming  platforms under the stewardship of the country’s broadcast regulator and compel firms like YouTube, Netflix, and Spotify to offer more local content. The bill, brought by Canadian Prime Minister Justin Trudeau’s Liberal government, cleared the House of Commons by 208 votes to 117, with support from the opposition New Democrats and Bloc Quebecois. The government says the legislation would ensure that online streaming services promote Canadian music and stories and support local jobs. Critics say it was rushed to a vote, and concerns raised about the bill, such as the potential impact on independent content creators, were not addressed. Heritage Minister of Canada Pablo Rodriguez, who introduced the bill in February, says the changes are meant for online commercial programs and would not apply to individual Canadians. Bill C-11 passed the third reading in the House of Commons of the Ca...

  Topology optimization tools are among the most advanced software engineers use to improve complex designs. They adopt it to ensure the design process’s size, shape, and material are efficient.  If you are a designer wondering what topology optimization software is and how it produces brilliant structure design, you are in the right place. This article discusses topology optimization software, benefits, and applications.  Let’s get into it.  What is topology optimization software?  The topology optimization software is a tool used at the concept level of design development. It adopts algorithm models to maximize materials layout and structure according to the designer’s given loads, constraints, and conditions. It enhances efficiency by eliminating redundant materials from aspects that do not require much load. As a result, it reduces weight on designs and combats different challenges, including resonance or thermal stress.  Designs created by topology opt...

  Germany will restart coal-fired power plants and offer incentives for companies to curb natural  gas  consumption, marking a new step in the economic war between Europe and Russia. Berlin unveiled the measures after Russia cut gas supplies to Europe last week as it pushed back against European sanctions and military support for Ukraine. The conservation measures are part of a broader strategy initiated by Germany after the invasion of Ukraine. Germany aims to reduce gas consumption and divert gas deliveries to storage facilities to ensure the nation has enough reserves to last through the winter. Russia’s gradual cutting of gas supplies has raised concerns of a potential fuel shortage if Europe goes into winter with incomplete reserves. It has also raised prices, putting additional pressure on economies already struggling with rising borrowing costs and high inflation and facing the prospect of a recession. The primary channel for Russian fuel to Europe, the Nord Stream...

  French  food  goliath Danone is cutting the variety of the products it sells to  retailers  to cut costs, meaning in the future, yogurt fans may miss out on the exact flavor or pot size they are used to. The makers of packaged food and supermarkets are struggling to combat rising prices, with products ranging from paper packaging to crude oil becoming more expensive due to a protracted pandemic-led shipping crunch and Russia’s war in Ukraine. Rising inflation also means shoppers are tightening their purses. On  Friday, supermarket firm Tesco warned Britons are buying less, shopping more often, and switching to cheaper, own-brand products to cope with the cost of living crisis. Earlier in 2022, some food stores were forced to take products off shelves as they could no longer afford to sell them. Those factors are prompting Danone to rethink how it sells its best-selling products, which range from Activia yogurt and Evian water. Danone’s global head of sale...

  Reddit announced it would buy Spell, a platform for running machine learning (ML) experiments, for an undisclosed amount. Spell, founded in 2016 by Serkan Piantino, a former Facebook engineer, provides cloud computing solutions to allow anyone to run resource-heavy ML experiments without the high-end hardware that would typically be necessary. The firm defines its mission as pursuing the best possible platform for anyone looking to develop robust, reliable, and safe  software  using  AI  and ML. The social media platform Reddit currently uses ML for the Discover Tab and personalized recommendations. The firm also leverages the technology for its targeted advertising and safety work. Spell will close access to new commercial customers amid the acquisition. Some of the firm’s team members will move over to Reddit. They will work on ML projects determining how Reddit defines contextual relevance, customizes ad placement, and keeps its communities safe. Reddit sai...

  Ford is recalling 48,924  electric  Mustang Mach-E SUVs and instructing dealers to stop delivering the model until potential safety defects are resolved. In a notice to its dealers, Ford said potentially affected  vehicles  include 2021 and 2022 Mach-Es manufactured from May 27, 2020, through May 24, 2022, at Ford’s Cuautitlan plant in Mexico. Said Deep, a Ford spokesperson, said that almost 49,000 of the roughly 100,000 Mach-Es produced during the period would be recalled. The defect involves a potential overheating of the EVs high voltage battery main contractors, an electrically controlled switch for a power circuit. The problem can lead to a malfunction that could cause the vehicle not to start or immediately lose propulsion power while in motion. The recall is notable as the carmakers continue to have problems launching new electric vehicles (EV). In recent years Ford has also experienced problematic vehicle launches, leading to high warranty and recall c...

  Amazon customers in Lockeford, California, will become the first to receive Prime Air deliveries. Amazon received flying drone approval from the Federal Aviation Administration in 2020. Prime Air Drone will start to deliver products to their customer later this year in Lockeford, California. This is the first time the company plans to use drones for deliveries. Amazon said it plans to deliver products by drone into the backyards of residents in Lockeford, California, and their feedback will play an integral role in improving the system. Amazon chooses Lockeford as it has historical links to the aviation industry. One of the early pioneers of aviation—Weldon B. Cooke, who built and flew early planes in the early 1900s, was a former resident of Lockeford. Companies like Alphabet and Walmart have started to make similar flying deliveries long back. The drone delivery program of Walmart is accessible to more than 4millon customers in the U.S., and Alphabet’s Wing program has been del...

Bank  of America will roll out a new cash management tool to US-based clients to gain market share in the $300 billion cash management business for multi-national corporations. Transaction banking—processing employee payroll, paying suppliers, and collecting from customers—contributed roughly 8% of the bank’s total 2021 revenue, or $7.23 billion. The second-largest US bank said it was extending its virtual account management tool (VAM)—already available in Europe—to the United States, where the COVID-19 pandemic has accelerated customers’ use of electronic payments. The tool helps firms manage multiple accounts by creating a virtual ledger, accessible online, that shows all their account balances and transactions and can model future cash flow. The tool can be opened and used within a day, whereas a bank account can take weeks to open. Liba Saiovici, head of global receivables in global transaction services for Bank of America said, firms need to because they often keep hundreds of...

  Cereal Maker Magic Spoon received US$85m in Series B funding round. The  mo Cereal Maker Magic Spoon received US$85m in Series B funding round. The  money  will be completely utilized for the development of the company which includes selling directly to consumers. The funding round was conducted by HighPost Capital along with its fellow investors Siddhi Capital, Coefficient Capital and Constellation Capital. Even celebrities like Shakira, rapper Nas, The Chainsmokers and American footballer Odell Beckham Jr. took part in this investment. Magic Spoon is stepping into Target stores nationwide and plans to tie up with additional retailers throughout the year. Co-founder Greg Sewitz said: “Our focus on a direct-to-consumer model when we launched was key as we were growing and establishing a presence in a tired category, but we are beyond ready and excited to be able to reach even more consumers across the country through our brick-and-mortar retail launch.” David Moros...

  Having an iron-clad IT system in place is essential for any business that wants to get an edge, and more often than not, companies that pull ahead in this area usually perform incredibly well compared to their technologically-inept counterparts. Moreover, with new technologies like  DevOps mon itoring tools coming out every day, anyone who is not striving to improve is likely to fall behind, and this is exactly why IT prowess is becoming more and more of a concern for prospective companies. In this article, we will be taking a look at three tips that will allow you to improve your business’s IT system exponentially, as well as discussing why this endeavour is becoming increasingly important as technology becomes more and more advanced.   Upgrade Your Security One of the best things you can do to improve your business’s IT system is to upgrade your security. Security threats are becoming more and more of a problem, and unless you take the necessary steps to protect ...

There is no doubt about the prevalence of music in our day-to-day lives. Its pervasiveness is evident as we visit shopping malls, grocery stores, amusement parks, restaurants, etc. Listening to music evokes different emotions in humans, making them happy, sad, excited, etc., depending on the music used. That is why many commercial places like the  best online casinos in Canada 2022   use music to trigger the emotions of their players and boost their revenues. Many casino game providers in offline and online casinos use interesting background tunes while developing games. When you enter a physical casino, you will find refreshing music playing, which starts turning intense as the gaming scene has only a few serious punters left late in the night. Music in casinos is definitely not just for entertainment purposes. Let us talk about a few studies and observations regarding music in casinos. Studies and Observations Music makes every activity exciting and enjoyable, be it exercisi...

  Spotify Technology SA expects to reach $100 billion in annual revenue in the next ten years and promises high-margin returns from its costly expansion into audiobooks and podcasts. The audio streaming firm hosted its first investor day since going public in 2018, hoping to encourage Wall Street’s enthusiasm despite the retarding global economy. To reach its aspiring goal, Spotify would need to grow its revenue almost 10-fold from its 2021 revenue of $11.4 billion. CEO Daniel Ek also forecasted gross margins to increase to 40% ad operating margin to 20% during the same time. CEO Ek said Spotify put out these audacious targets and was going after them because that’s how they view the world and were investing behind them. Shares of the firm jumped 6.5% on Wednesday after losing nearly 53% of its market value in 2022, poorer than the 24% descent in the S&P 500 communication services sector index, which comprises Spotify and other social media network firms. Daniel Ek began the al...

  The United States approved a possible $120 million sale of parts to help Taiwan maintain its warships, which would help the island nation ensure combat readiness in the face of China’s frequent activities. The US  Defense  Security Cooperation Agency announced that it had delivered the required certification notifying Congress following State Department approval for the sale, which was requested by Taiwan’s de facto embassy in Washington. It said the sale covered unclassified spare and repair parts for ships and ship systems, US government and contractor representative technical and logistical support, and technical assistance. The defense ministry of Taiwan said the deal was expected to come into effect within one month and expressed its gratitude to the United States for its support in helping the nation be able to protect itself. Taiwan’s defense ministry said in the view of the recent frequent activities of Chinese warships in the sea and airspace around the country...