Best Business Magazines and News Online - CIO Bulletin

  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...