BUSINESS

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In a landmark operation, the Vietnamese government, in collaboration with the Alliance for Creativity and Entertainment (ACE), has dismantled what is being described as the world’s largest pirate streaming network. The crackdown led to the shutdown of the notorious Fmovies site and its associated domains, which collectively garnered over 6.7 billion visits between January 2023 and June 2024. This takedown represents a significant victory in the ongoing battle against digital piracy.

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AI chip giant Nvidia has recorded a fall in shares despite the company comfortably beating expectations after more than doubling its sales. Nvidia announced record revenues of $30bn (£24.7bn) over a three-month period.

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Chinese e-commerce giant Alibaba said Friday it would upgrade its Hong Kong-listed shares to primary status, opening it up to China's huge army of investors that could potentially rake in billions of dollars for the firm.

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Lip-Bu Tan, a prominent semiconductor industry veteran, has resigned from Intel's board, citing personal reasons and a need to "reprioritize various commitments." However, sources close to the situation reveal that his departure was fueled by differences with Intel's CEO, Pat Gelsinger, and other directors over the company's workforce size, risk-averse culture, and lagging artificial intelligence (AI) strategy.

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S&P Global Ratings has downgraded its outlook on Warner Bros Discovery (WBD) from "stable" to "negative," reflecting growing concerns over the company's declining cable TV business, which faces further risks from the potential loss of broadcast rights for National Basketball Association (NBA) games.