Author: Salako Temitope

The governance structure of OpenAI has changed as its venture capital fund that backs AI startups removed its Executive, Sam Altman who no longer owns or controls the fund, according to a filing with the US Securities and Exchange Commission (SEC). The change, documented in the March 29 filing, came after Altman’s ownership of the OpenAI Startup Fund raised eyebrows for its unusual structure–while being marketed similar to a corporate venture arm, the fund was raised by Altman from outside limited partners and he made investment decisions. OpenAI has said Altman does not have financial interest in the fund despite…

Ukraine struck one of Russia’s biggest refineries with a drone 1,300 km (800 miles) from the front lines in Ukraine Tuesday and said it had inflicted significant damage on a military target. Ukrainian drones attacked targets in Tatarstan, a highly industrialised region south-east of Moscow, in the early hours and some people were injured, Tatarstan’s head Rustam Minnikhanov said. A fire broke out at the refinery that was extinguished within 20 minutes and production has not been disrupted, RIA said. Pictures from the scene indicated the drone hit the primary refining unit, CDU-7, at the Taneco refinery. It was one…

Seven people working for celebrity chef, Jose Andres’ World Central Kitchen who were of Australian, British and Polish nationalities were killed in an Israeli airstrike in Gaza on Monday. According to WCK, they were reportedly travelling in two armored cars emblazoned with the WCK logo and another vehicle. The staff which also included Palestinians and a dual citizen of the United States and Canada. Erin Gore, Chief Executive of World Central Kitchen said, “This is not only an attack against WCK, this is an attack on humanitarian organizations showing up in the direst of situations where food is being used as a…

UnitedHealth, last week issued a statement that it was beginning to clear a medical claim backlog of more than $14 billion as its services gets restored back online following a cyberattack, which caused wide-ranging disruption starting in late February. State Department of the U.S on Wednesday offered up to $10 million for information on the “Blackcat” ransomware gang responsible for the UnitedHealth group hit and snarled insurance payments across America. The states’ department in a public statement announcing the reward offer said, “The ALPHV Blackcat ransomware-as-a-service group compromised computer networks of critical infrastructure sectors in the United States and worldwide.” The UnitedHealth’s…

“I’M SORRY FOR THAT, Customers have been suffering … I didn’t at all mean to minimize that. I also think that’s something that was missing from what I’ve said over the course of this process, and I’m sorry for that.” Sam Bankman-Fried said while addressing district judge Lewis Kaplan. Sam Bankman-Fried was sentenced to 25 years in prison by a judge on Thursday for stealing $8 billion from customers of the now-bankrupt FTX cryptocurrency exchange he founded, the last step in the former billionaire wunderkind’s dramatic downfall.U.S. District Judge Lewis Kaplan handed down the sentence at a Manhattan court hearing…

Ukraine launched a devastating missile strike against Russian military targets in the Crimean port of Sevastopol late on Saturday, further debilitating Russia’s Black Sea Fleet. The combination of a reported 40 Storm Shadow missiles, decoy missiles and drones damaged a communications centre, the Yamal and the Azov, two Ropucha-class landing ships, and other infrastructure, possibly including an oil depot. The Yamal was especially badly damaged. Ukrainian military intelligence said it was listing to starboard with a large hole in its top deck two days later, and Russian crews had to keep pumping its bilges to keep the ship afloat. The…

On Tuesday, a suicide bomb attack occurred near Besham city, northwest Pakistan’s Khyber Pakhutunkhwa province. The incident which claimed the lives of five Chinese nationals and a Pakistani who was their driver. The attacker was said to have rammed his explosive-laden vehicle into their convoy on its way from Islamabad to Dasu, the site of a key hydroelectric dam being constructed by a Chinese company, about 270km (167 miles) from the capital. Bilal Faizi, spokesman for Rescue 1122 group in Khyber Pakhtunkhwa told reporters that, “Our rescue team has successfully retrieved bodies of four people whereas recovery of two more…

Since the 2022 invasion of Ukraine. Russia has experienced an exodus even from corporate firms which has cost foreign companies more than $107 billion in calculated revenue, an analysis of company filings and statements showed. The number of losses have increased by one third  last year, emphasizing the scale of the financial hit to the corporate world from Moscow’s invasion, as well as highlighting the sudden loss of Western expertise from Russia’s economy. Ian Massey, Head of Corporate Intelligence, EMEA said, “As Russia’s invasion continues amid faltering Western military aid, and the granularity of Western sanctions regimes increases, companies still aiming…

Five people have been confirmed dead in an accident that took place on the A9 motorway Wednesday morning. There were “numerous injured and at least five dead,” says Police spokesman Olaf Hoppe at the scene where rescue helicopters and ambulances were also on ground. The crash occured on the busy motorway that connects Berlin to Munich, although “the exact circumstances of the accident are not yet known”, said Flixbus, the vehicle’s operator. Flixbus said there were 53 passengers and two drivers on board, German news agency dpa reported. The company said it was working closely with local authorities and rescue…

Private sector generates $236bn in illegal profits annually, a new study by the International Labour Organisation has revealed. According to the report titled “Profits and Poverty: The Economics of Forced Labour”, there has been a 37 per cent rise in illegal profits from forced labour since 2014. It stated that the total amount of illegal profits from forced labour had risen by $64bn (37 per cent) since 2014, fuelled by growth in the number of people forced into labour and higher profits generated from the exploitation of victims. The report estimated that traffickers and criminals were generating close to US$10,000…