BUSINESS

NAVAN THE $9BILLION FIRM ON TRACK FOR PROFITABILITY AND NEARING IPO MILESTONE

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Navan, the travel and expense management platform formerly known as TripActions, is making significant strides toward profitability and an eventual initial public offering (IPO). Let's dive into the details:

SURREALIST FANTASY SETS $28.5 MILLION RECORD FOR LEONORA CARRINGTON AT SOTHEBY'S MODERN ART AUCTION

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Leonora Carrington's 1945 Surrealist masterpiece, “Les Distractions de Dagobert”, shattered records at Sotheby’s modern art auction in New York, fetching $28.5 million, a stunning leap from its pre-sale estimate of $12–18 million. This sale not only set a new high for Carrington but also elevated her to the ranks of the top five most valuable women artists at auction, joining the esteemed company of Louise Bourgeois, Frida Kahlo, Georgia O’Keeffe, and Joan Mitchell. Furthermore, Carrington now stands among the top four Surrealists, surpassing even the likes of Max Ernst and Salvador Dalí.

OPEN AI CEO ADDRESSES THE NDA'S THEY MAKE EMPLOYEES SIGN

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OpenAI, the renowned artificial intelligence research organization, recently faced scrutiny over its restrictive exit terms for employees. Following the departure of several high-profile OpenAI team members, Vox reported that the company's exit agreements included provisions that could revoke employees' vested equity if they ever criticized OpenAI or even acknowledged the existence of these terms.

BOLT WANTS TO RETURN SHARES WORTH 37MILLION IN AN INVESTOR LAWSUIT

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At the heart of the lawsuit was a $30 million personal loan secured by Bolt for Beslow, which he defaulted on. The legal action, initiated by investor Activant Capital, accused Beslow of financial mismanagement and board manipulation.

ROLEX ASCENT TO THE TOP OF WATCH MAKING; BRIEF HISTORY

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Rolex’s ascent to the pinnacle of watchmaking is a tale of visionary entrepreneurship and innovative prowess. The brand’s journey began in 1905 when Hans Wilsdorf and his brother-in-law Alfred Davis founded a company in London that specialized in assembling watches with Swiss movements. Wilsdorf’s foresight into the potential of wristwatches led him to create the Rolex brand in 1908, a name that would become synonymous with precision and luxury.

MIRAGE CASINO ON THE LAS VEGAS STRIP SET TO CLOSE

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In a seismic shift for the famed Las Vegas Strip, the Mirage Casino, an iconic megaresort that has stood as a beacon of entertainment and luxury for decades, is set to close its doors. This announcement marks the end of an era for one of Sin City's most storied landmarks, signaling a profound transformation in the landscape of America's gambling capital.

SONY MUSIC GROUP STANDS AGAINST UNAUTHORIZED AI TRAINING

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In a bold move that echoes through the corridors of the music and tech industries, Sony Music Group (SMG) has issued a clarion call to over 700 companies, including behemoths like Google, Microsoft, and OpenAI, demanding accountability for the potential unauthorized use of its copyrighted music in training artificial intelligence (AI) systems. This action is not just a statement but a testament to the value Sony Music places on the rights of its artists and the integrity of their work.

NIO ONVO UNVEILS THE L60 ELECTRICAL VEHICLE

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On May 15th, Nio made a significant stride in the electric vehicle (EV) market by launching its mass-market brand, Onvo, aimed at young families. Positioned under the Nio umbrella, Onvo, meaning "On Voyage," is set to redefine family mobility. The brand's debut model, the Onvo L60, promises an impressive blend of efficiency, performance, and affordability.