European Central Bank (ECB) President Christine Lagarde addresses the press following the ECB's Governing Council meeting, at the ECB headquarters in Frankfurt, Germany, February 5, 2026.
Image: REUTERS/Jana Rodenbusch/File Photo
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Microsoft says it is on pace to invest $50 billion in 'Global South' AI push
Microsoft on Wednesday said it is on pace to invest $50 billion by the end of the decade to help expand AI to countries across the 'Global South'. The announcement was made at the AI summit in New Delhi, where top executives from global AI giants meet several world leaders this week. The 'Global South' refers to developing, emerging or lower-income countries, mostly in the southern hemisphere. Microsoft unveiled $17.5 billion worth of AI investments in India last year, as the U.S. tech giant deepened its bet on one of the world's fastest-growing digital markets.
Warner Bros rejects revised Paramount bid
Warner Bros Discovery on Tuesday rejected Paramount Skydance's latest $30-a-share hostile bid, but gave the rival Hollywood studio seven days to submit a "best and final" offer to top an existing agreement to sell its businesses, including HBO Max and "Harry Potter" franchise, to Netflix. Paramount informally broached an even higher per-share price of $31, Warner Bros said, apparently enticing the board to the table. But its response to Paramount indicates Warner Bros prefers its deal with Netflix, and the odds of a switch are long. Warner Bros Discovery's shares were up 3.4% at $28.93, while Paramount rose nearly 5%. Netflix shares were largely flat in afternoon trading.
ECB President Lagarde expected to leave bank before term expires next year
European Central Bank President Christine Lagarde is expected to leave before the end of her eight-year term that expires in October 2027, the Financial Times reported on Wednesday, citing a person familiar with her thinking. The FT said that Lagarde wanted to exit the bank before the French presidential election in April next year, as she wanted to allow outgoing President Emmanuel Macron and German Chancellor Friedrich Merz to find a new chief.
MTN Group to acquire full control of IHS Towers for R35.2 billion
MTN Group, Africa's biggest mobile operator, has struck a $2.2 billion (R35.2 billion) deal to buy the remaining 75% stake in IHS Holding Limited, a leading tower infrastructure provider across the continent. The cash transaction values IHS shares at $8.50 each and merges MTN's vast wireless network with one of Africa's top tower companies. This move bolsters MTN's infrastructure edge amid surging data demand, positioning it for accelerated 5G rollout and cost efficiencies in key markets like South Africa, Nigeria, and beyond.