26 minute read
BUSINESS DIALOGUE
Leaders’
MEETING POINT
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SIMON TAYLOR,
HYCU Inc. CEO
LUŠTICA BAY
Providing Easy Ways To Protect Data Authentic Adriatic In Luštica Bay
VLADIMIR ŽIVANOVIĆ,
Director of the Zlatibor Tourism Organisation
Foreigners Also Flock To Zlatibor
PORTO MONTENEGRO
The Adventure Continues On The Adriatic
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Providing Easy Ways To Protect Data
HYCU is a multinational company with offices around the world, but much of its European operation is located right here in Belgrade, an important and growing hub
HYCU CEO Simon Taylor announces that Serbia will become an even bigger hub for the company, as a place where HYCU will continue to invest and spend time, money and resources, with the country becoming a crucial part of HYCU’s business.
Is the proof of your orientation towards clients from all over the world best represented by your more than a million satisfied users and hundreds of partners?
I’ve been a long-time supporter and fan of Serbia as a country for many years. I’ve worked very closely with a number of Serbia’s leading business professionals, like Veselin Jevrosimović and Marija Živanović-Smith among others. What I’ve seen in Serbia in particular is a strong culture of entrepreneurship. A culture that is based on a “can do” attitude that really resonates with the needs of large-scale organisations and companies, not just in the region but globally. I think being able to bring the Serbian culture to the rest of the world is one of the great added benefits of running HYCU. We certainly consider all of our Serbian employees to be of incredible importance.
The other thing I would say is that, when you’re running a multinational company, it is really important that you choose locations that are going to support the ethos and values of your business. One of the things that we’ve certainly found in Serbia is that our core corporate values of authenticity, grit and empathy are very well represented by our employees. It is important that employees are in a work environment where they can bring their own personalities to the work they do. They have grit and a drive to succeed. And they care deeply, both about the work they’re doing and about each other. I know that’s what makes HYCU successful. That’s who we are as a company. And that’s what makes all of us at HYCU proud to be investing in Serbia.
You deal with managing and protecting the data of some of the largest business systems. Could you tell us about what you do exactly and what kind of help do you provide to clients?
HYCU is the world’s fastest growing multi cloud backup as a service company. Simply put, no matter where your data sits, HYCU will back it up and help you recover it in the event that your data is deleted or compromised. When people ask me about HYCU as a company, and why what we do is important, I think all you have to do is think about how much data there is in the world. How much of our lives are dependent on the data that we use, not only at work, but also personally? Today, with the rise of ransomware attacks, the risk of having your data stolen from you, or exploited in other ways, has never been higher. HYCU is truly here to help. We have more than 3,200 customers in 78 countries around the world. With easy to use, SAS software, HYCU provides one of the most effective ways for organisations of all sizes to protect their data successfully.
What is currently occupying you and your colleagues the most?
HYCU has had an explosive series of events in the last 12 months. We’ve raised more than $140 million in venture funding. We’ve hired more than 150 people worldwide. And we’ve added an enormous number of customers across the globe. When we think about the trajectory of our business, we are heading towards an IPO, and in order to get there we need to make sure that we leverage the money we’ve raised - from Acrew Capital, Bain Capital Ventures, Cisco Investments and Atlassian Ventures - to scale as efficiently and effectively as possible. That means making the right choices about where we invest, what countries we’re going to invest in, where we build teams, and the work that we’ve asked those teams to do.
Authentic Adriatic In Luštica Bay
A PLACE TO BELONG
Authentic residences, The Chedi five-star hotel, beautiful beaches with a crystal blue sea, a unique gastronomic and shopping experience and an intense calendar of events create the striking identity of Luštica Bay
Luštica Bay is not just a town, but a way of life under the slogan and motto A place to Belong. Located on a peninsula rich in olive groves, surrounded by the blue Adriatic, and built in the spirit of Boka Kotorska, Luštica Bay is a great destination for the summer for which we will write memories under the number ‘22.
You can spend your summer with a view of the Mediterranean in the residences, apartments and villas of Luštica Bay, or in the exclusive hotel The Chedi. Whether you want to spend the weekend on the coast, or for Luštica Bay to be your summer home for a longer time - this community’s way of life will be the dominant impression of your summer on the Adriatic.
The unique gastronomic experience in Luštica Bay is reflected in the great fusion of flavours on the Marina Village promenade. You haven’t been here if you haven’t tasted Bokesh delicacies with a unique view of the Adriatic horizon from the Lighthouse restaurant, or met the charming hostess of Kiki’s restaurant who will serve you dishes from an authentic Italian recipe, drank gemišt and bevanda in Finestra, but also tried drinks from a great international wine bar. Restaurant 21 is a place with the best fish dishes on the coast, Mediterranean spices and hospitality to remember!
BEACHES OF LUŠTICA BAY
THE WILD BEAUTY OF THE
MEDITERRANEAN
In the heart of Luštica Bay lies Almara Beach, an ode to enjoyment and celebration, a unique beach reached by water taxi from Marina Village or by road across the Luštica peninsula, through shady olive groves lined with the region’s indigenous vegetation. In perfect harmony with the spirit of the place, the chef Amador Fernandez creates unique experiences for the senses, presenting the finest specialities from his kitchen. At every moment, Almara exudes a unique mundane atmosphere, combining well-chilled wines and world cuisine flavours for a perfect Luštica Bay experience. Crystal clear water, fine sand, the shelter of Velja Špilje, the peace of untouched nature and the atmosphere of the Mediterranean are characteristic of Beach Club 21, a beach that until recently was hidden from the public eye. Having preserved part of its untamed nature, Beach Club 21 is today an exclusive beach resort within the Luštica Bay project. A beach bar, canopies, bamboo deck chairs, a swing on the seashore and a first-class restaurant with a view of the blue Mediterranean provide a unique vacation experience on the Adriatic.
LOCAL NEWS
“Serbia is the most attractive country for French companies in the Western Balkans and many of them do business in the surrounding countries” ~ SANJA IVANIĆ, GENERAL
DIRECTOR OF THE FRENCH-SERBIAN CHAMBER OF COMMERCE
COLLIERS ANNOUNCES AFFILIATION IN SERBIA WITH WEST PROPERTIES
Leading diversified professional services and investment management company, Colliers, announced today that it has entered into an affiliate agreement in the EMEA region with the leading real estate services company in Serbia, West Properties. This partnership expands Colliers’ service offering in Southeast Europe with existing operations in neighboring countries. West Properties, located in the capital Belgrade, has a 20-year history in Serbia.
SOLAR POWER PLANT AT BELGRADE AIRPORT MADE OPERATIONAL
The BELGRADE AIRPORT company, part of the VINCI Airports company and the operator of Belgrade Nikola Tesla Airport, has put into operation a solar plant that provides the airport with electricity obtained from renewable sources. The new solar power plant, equiped with almost 3,000 solar panels, will annually produce around 1,130,000 kWh of green electricity, which is comparable to the annual consumption of approximately 430 households.
METITO TO SECURE SUSTAINABLE SOLUTION FOR WATER SUPPLY CHALLENGES IN ZRENJANIN
The Contract for the realization of a water treatment project in Zrenjanin has been signed in the Government of the Republic of Serbia between the City of Zrenjanin, the Public Water Company, and the global water provider, Metito The City of Zrenjanin will obtain a state-of-the-art water treatment plant that will bring a lasting and sustainable solution to a year’s long water supply issues facing its citizens. Today marks the signing of the Contract for the realization of a water treatment project in Zrenjanin between the City of Zrenjanin, the Public Water Company, and the leading global provider of intelligent water management solutions, the multinational company ’Metito’.
“It is noticeable that the number of American investments in our country is growing year on year” ~ STEFAN LAZAREVIĆ, PRESIDENT OF
AMCHAM SERBIA
OTP BANKA RECEIVES EUROMONEY AWARD FOR EXCELLENCE 2022
OTP banka Srbija was declared “The best bank in Serbia” at the annual awards ceremony of the world-renowned Euromoney magazine. It is the traditional Euromoney Awards for Excellence 2022, which is awarded to financial institutions that provide clients with the highest level of service, innovation, and expertise. As a result of the successfully implemented most complex integration in the region in the midst of the pandemic, excellent business results with growing profitability, operational efficiency, and healthy growth of the loan portfolio, OTP banka stood out as a leader in the banking market.
MOBI BANKA AWARDS HIGH SCHOOL GRADUATES
High school graduates showed themselves in the best light not only at graduation celebrations but also at college entrance exams. Mobi Banka made sure that the efforts of the most successful were noticed, and awarded ten students of the generation, each one with an amount of 50,000 dinars. On this occasion, the award-winning students from Belgrade visited the Mobi Banka branch office in New Belgrade to open their accounts, where they were welcomed by Milka Rajčević, a member of the Executive Board of the first digital bank in the region.
UNIQA STRENGTHENS SOUTHEAST EUROPE REGION
Nikola Đukić was appointed as the new chairman of the Executive Board of UNIQA non-life insurance, while Tihomir Milošević is the new president of the Executive Board of UNIQA Life Insurance. UNIQA Serbia, as part of the UNIQA Group present in 18 countries and the fifth insurance company on the market of Central and Eastern Europe, continues the implementation of the growth program “UNIQA 3.0 - Seeds of the Future” which began in 2021. The next level of transformation is focused on the countries of the Southeast European region (SEE) and has the ultimate goal of better customer service, by creating an organization with an even greater customer orientation and efficiency in all markets, with a strong focus on the digitalization of the company and its offer.
Foreigners Also Flock To Zlatibor
It is thanks to magical nature and the air spa status that Zlatibor has enjoyed for 129 years, coupled with major investments, excellent infrastructure and a wide variety of facilities, that Zlatibor is the country’s number one tourist destination, a place where every day is pleasant, unique and different
Here Zlatibor Tourism Organisation Director Vladimir Živanović speaks with undisguised pride about previous and upcoming investments, the structure of guests, the enriching of the tourism offer, the area’s natural beauty and increasingly popular events, as well as revealing some plans for the coming seasons to CorD Magazine.
Despite facing strong competition, Zlatibor remains the most visited tourist destination in Serbia. How would you explain that?
Zlatibor enriches its tourist offer with new amenities year on year, and that is what sets it apart from the other destinations. Diverse contents, a high-quality offer and the blessings of nature attract even the most demanding guests, while ensuring regular visitors are happy to return again and again, because they are always awaited by something new on the “golden mountain”. Statistics also clearly show the notable progress of this tourist destination.
Visitors are predominantly still local guests, while there are also guests from the region - from Republika Srpska and Montenegro – but we are delighted by the increase in the number of guests from Western countries. Thanks to the Auto-Kamp vehicle campsite, Zlatibor is also visited by tourists from the Netherlands, Belgium and the Czech Republic. We have seen is a noticeable increase in the number of tourists coming from Romania, while there are also some arriving from Arab countries. Foreign guests account for approximately 30% of total visitors to Zlatibor.
We know that the gondola lift’s capacities have been increased and that work has been undertaken to improve event tourism and advance the complete tourist offer, but that isn’t all! With what kinds of new additions did you welcome this summer season?
The Gold Gondola Lift has placed Zlatibor on the map of world destinations, because it is the world’s longest single-segment panoramic cable car lift. It has been ridden by more than 360,000 tourists since operations were launched in January 2021. Apart from the nine-kilometre ride along the route in one direction, with the option to disembark at the Ribnica Lake interstation or at the final Tornik station, numerous new activities have been prepared for this summer season, such as archery, paragliding, recreation with entertainers from Čigota, workshops teaching old crafts etc. These activities are all free and intended for both children and adults.
On the occasion commemorating the Day of the Municipality of Čajetina, on 30th June, a multimedia fountain – complete with modern sound, lighting and laser effects – was made operational beside the remodelled Zlatibor Lake near Kraljev trg.
Event tourism is also on the rise here. We organise events not only in tourism spots, but also in all the villages of our region. The Municipality of Čajetina and the Zlatibor Tourism Organisation have prepared numerous concerts and cultural happenings for the Zlatibor Cultural Summer event. Bathing areas and swimming pools have been prepared in Zlatibor and the surrounding area, while we have also organised daytrips to Stopića Cave, Sirogojno’s Old Village [Staro Selo] Museum, the Gostilje Waterfall and other localities.
Guests are becoming increasingly demanding, but that doesn’t concern you because the Municipality of Čajetina will continue investing in infrastructure, facilities, contents and its overall offer. What are you planning for the period ahead?
The municipality has created a good business environment and attracted investors who are constructing excellent accommodation facilities, wellness and spa centres, and this season – to the benefit of active holidays – we are currently arranging and marking new hiking routes and cycle lanes. As the goal is for Čajetina to become Serbia’s first eco municipality, visitors can hire electric cars and bicycles with us, in order to raise awareness of environmental protection.
Zlatibor has become a mecca for the numerous sports teams that come here for preparatory training camps, which is why construction is being launched on a sports and recreational complex with approximately 20 open pitches.
The Adventure Continues On The Adriatic
Summer is in full swing at Porto Montenegro, with yachts lining the marina, a range of new and well-loved shops and restaurants in the village and a full calendar of events taking place in the warm sunshine. Life at Porto Montenegro continues to flourish and we invite you to join us in this magical Adriatic destination
OUR BIGGEST SUMMER YET
Sun-filled days and light-fuelled nights provide the perfect backdrop for our spectacular summer of events. We have a host of brilliant and major events lined up for the coming months, with events to suit all tastes and types – from gastronomy and sports, to fashion, music and art. One of the most highly anticipated events is Polo in the Port, which will take place in August. Guests will enjoy a spectacular horse parade, stylish receptions, two days of exhilarating polo and a memorable closing party. A must-attend, this is our event of the summer.
Our programme of events isn’t just for adults. We have a range of events that are focused on children specifically, such as our ‘Summer of Football’. We’ve teamed up with the Real Madrid Foundation Football Camp to deliver the ultimate summer soccer holiday experience. All children aged 6-17 are invited to take part and learn from some of Europe’s leading coaches, make friends and develop their skills. There is also a Summer Dance camp taking place, with expert teachers and coaches to guide children in a range of dance styles.
Guests and visitors will also notice that the marina and yacht club has welcomed a world-renowned brand to its shore: BuddhaBar Beach. Find your groove, embrace the hedonistic spirit and gather your friends for some delicious Asian-fusion cuisine in this incredible new setting. What can you expect? A breath-taking 64-metre infinity pool, signature dishes that marry the finest local ingredients with Asian spice, and international DJs. All with a backdrop of the impossibly beautiful Boka Bay.
We also recently opened AudioPort, our exciting new private recording studio that is available to hire for the hour or day, with an associated productor and label. There will be masterclasses in DJing, creating music and singing, as well as a locally broadcast radio station and music video production facilities. AudioPort will become a laboratory for curious creatives to experiment, collaborate and trailblaze. It can be your platform to broadcast globally, or your intimate studio to sing that song you’ve always dreamt of.
Meanwhile, construction continues at Boka Place – Porto Montenegro’s newest neighbourhood and lifestyle community with wellness at its core. Structural work is complete and you can now see the outline of the apartments, retail units, and SIRO Hotel rooms that make up Boka Place’s central square. The area offers exceptional off-plan investment opportunities; over 50% of spaces have already been let, with fewer than 10 properties now available.
There is so much to enjoy in Porto Montenegro and we can’t wait to welcome you to our shores. With each year, more individuals join our international community and enjoy the many events and amenities for a fivestar luxury lifestyle. A gem in the heart of the Adriatic, Porto Montenegro will continue to thrive, for both its residents and visitors.
REGIONAL NEWS
“With its basic guiding idea of the free flow of goods, services, labour, capital and technology, the Open Balkan initiative strengthens all participating countries and increases their competitiveness internationally” ! JURIJ BAJEC, PROFESSOR AT THE
UNIVERSITY OF BELGRADE FACULTY OF ECONOMICS
CROATIA TO ADOPT EURO IN 2023
Croatia is to be admitted to the EU monetary union and will start using the euro on 1st January 2023. “It’s official – Croatia will join the euro area as of 1 January 2023. This outcome is the result of tremendous efforts by Croatia and its citizens to meet all the necessary economic and legal requirements,” said Christine Lagarde, President of the European Central Bank. “I would like to congratulate my counterpart, Zdravko Maric, and the whole of Croatia for becoming the 20th country to join the euro area,” said Zbynek Stanjura, the finance minister of the Czech Republic, which holds the EU’s rotating presidency. Croatia’s switch from the kuna to the euro will come less than a decade after the country joined the EU.
BUSINESS CONFIDENCE INDEX IN MANUFACTURING DECREASES IN NORTH MACEDONIA
North Macedonia’s manufacturing sector business confidence indicator fell 1% points, to 14 points. According to the country’s statistical office press release, on a monthly comparison basis, the business confidence index in manufacturing was 0.6 percentage points in June. “The situation with the current volume of production orders in June 2022 is more favourable compared to the previous month, the expectations for the production volume for the next three months are less favourable, while the stocks of finished goods decreased,” the statistical office said. Survey participants, which comprised of managers, expect the number of employees in the manufacturing sector to increase in the following period.
AUSTRIAN POST STARTS OPERATING IN SLOVENIA
Austrian Post’s new delivery subsidiary, Express One Slovenia, began operations in Slovenia at the beginning of July. The logistics company has two centres, in Maribor and Ljubljana, and in addition to these locations, several delivery bases ensure delivery throughout Slovenia. Austrian Post’s logistics centre in Kalsdorf, Styria, will also play a central role in the distribution of import and export parcels. “Due to our high quality, we were motivated by international customers to offer our services on the Slovenian market as well. We already have relevant export volumes to Slovenia, and we also have a strong market position in the neighbouring countries of Austria, Croatia, and Hungary. Selfdelivery in Slovenia was, therefore, the next logical step for us,” explains DI Peter Umundum, Managing Director for Parcel & Logistics, Austrian Post.
“The Open Balkan initiative favours integration over disintegration, open borders over closed ones, free movement over a limited range” ~ DIMITAR KOVACHEVSKI, PRIME
MINISTER OF NORTH MACEDONIA
BULGARIAN RAILWAYS TURNED A PROFIT
The Bulgarian national railway carrier reported an increase in its revenues for the second consecutive quarter. For the first 6 months of the year, the accounting profit of the entire BDZ (Bulgarian Railways) Holding Ltd group is BGN 13,256,000 (EUR 6,769,977). For the first time in 10 years, the group, which includes “BDZ-Passenger Transport” EOOD, “BDZ-Tovarni Vervozi” Ltd and “BDZ Holding” Ltd, is making a profit, the Ministry of Transport informs. This also applies independently to “BDZ-Tovarni prevozi” Ltd, which at the end of June realized an accounting profit of BGN 6,904,000 million. After taking into account the effect of the reduced infrastructure fees for the company, the operating profit from its inherent activity is BGN 2,201,000. “BDZ-Tovarni prevozi” Ltd has been at a loss for the entire 10-year period from 2012 to now.
The Football Association of Montenegro and the Meridianbet company signed a sponsorship agreement in Podgorica, according to which one of the leaders in the market of betting services will be the sponsor of the First Montenegrin Football League of Montenegro. The elite football competition in Montenegro during the next three years, which is the duration of the sponsorship contract, will be called Meridianbet 1. CFL. The contract was signed by the president of the Football Association of Montenegro, Dejan Savićević, and the executive director of Meridianbet Montenegro, Jovana Klisić. After signing the contract, Savićević emphasised that he believes that the Association and Meridianbet, as well as the clubs participating in the Meridianbet 1. CFL will benefit greatly from this cooperation.
EU COHESION POLICY: €31.5 BILLION FOR ROMANIA
Romania will receive a total of €31.5 billion from Cohesion Policy in 20212027 in the framework of its Partnership Agreement with the Commission to promote the economic, social and territorial cohesion of its regions and its green and digital transition. The EU funds will also support the development of a competitive, innovative and export-oriented Romanian economy. €4.33 billion from the European Regional and Development Fund (ERDF) will support Romania’s innovative and smart economic transformation. Funds will increase the competitiveness of small and medium-sized enterprises (SMEs) and support research and innovation, in particular through business-academia collaboration. Innovative enterprises and innovative activities in traditional SMEs will also be supported.
What Cybersecurity Really Means
As more activities move online, our understanding of cybersecurity must evolve to stay ahead of emerging threats to public health and security
When we talk about cybersecurity, we usually think of commercial antivirus software, ransomware attacks on large corporations, or leaks of politically scandalous emails. But little is said about public security in the digital realm, and that is a big problem when we increasingly depend on information and communication technologies (ICTs) and the Internet of Things to carry out our ordinary daily activities.
Moreover, these technologies’ rapid development has led to a hybridization of crime. Many illicit activities now straddle the physical and virtual worlds, which has introduced new trade-offs and calls for a reconsideration of longstanding lawenforcement strategies.
Consider illegal recreational substances. Many people now seek to acquire these over the internet, because buying online is generally seen as safer than meeting a stranger in a dark alley. But online channels tend to put people into direct contact with the organized crime groups that control most of the distribution of illicit substances. When people hand over money to these groups, they are unwittingly helping to fund the global networks that also finance terrorism and traffic in arms, people, and human organs and tissues.
It is well known that the COVID-19 pandemic accelerated many forms of digital innovation and adaptability, and online drug purchases are no exception.
There are both risks and potential benefits associated with these new distribution channels. Transacting on crypto markets or through similar digital channels can protect individual users from physical violence, theft, sexual exploitation, and abduction.
Governments and law-enforcement authorities should keep these findings in mind as they seek to create safe public spaces online. While the state alone is responsible for defining what counts as a crime, policing criminal activity is not its sole purpose; it also must ensure public health and uphold fundamental rights such as privacy.
Accordingly, many law-enforcement strategies should be reconsidered, and resources should be redirected toward strengthening the competencies of nascent cybercrime units. Investigative efforts should focus primarily on ICT-mediated criminal activities and operations that pose a significant threat to the general public.
But, owing to the hybrid nature of these forms of cybercrime, effective implementation of new law-enforcement strategies will require international coordination. The United Nations has formed an ad hoc committee to draft a “Comprehensive International Convention on Countering the Use of Information and Communications Technologies for Criminal Purposes.” But to ensure public security in cyberspace, the convention will need to couple improved law-enforcement procedures with the kind of humanitarian vision that underpins deflection.
As the world increasingly moves online, we must recognize that cybersecurity is about more than preventing hacks and fraud. It is also about improving the safety, health, and well-being of the people behind the screens.
WORLD NEWS
“We’ll be slowing the pace of hiring for the rest of the year, while still supporting our most important opportunities” ~ SUNDAR PICHAI,
CEO OF GOOGLE
ROLLS-ROYCE, EASYJET TO TEST HYDROGEN COMBUSTION ENGINE TECH FOR AEROPLANES
Aerospace giant Rolls-Royce said it was pairing up with airline EasyJet to develop and test hydrogen combustion engine technology for aircraft. In a statement, London-listed Rolls-Royce said the two companies would work together on a range of ground-based tests slated to begin this year. Both firms had “a shared ambition to take the technology into the air,” it added. EasyJet carried the same statement about the partnership on its website. The goal of the collaboration, called H2ZERO, “is to demonstrate that hydrogen has the potential to power a range of aircraft from the mid-2030s onwards,” Rolls-Royce said.
RICHARD BRANSON TAKES A STAKE IN LIGHTYEAR
Lightyear, a European challenger to trading platform Robinhood, has raised $25 million of funding in an investment round backed by British billionaire Richard Branson. Silicon Valley’s Lightspeed Venture Partners led the deal, the company told CNBC exclusively — a rare vote of confidence for an upstart brokerage at a time when global stock markets are deep in the red. Founded in London last year by Estonian entrepreneurs Martin Sokk and Mihkel Aamer, Lightyear offers commission-free trading in over 3,000 global stocks and multi-currency accounts. Sokk and Aamer previously worked at Wise, the U.K.-listed money transfer firm.
GOOGLE FACES 1 BLN EURO UK TRIAL OVER APP STORE PRICING
Google faces a London trial over an estimated 976,855,000 Euros damages claim after a court authorized a lawsuit that alleges the Alphabet-owned tech giant overcharged 19.5 million customers for app store purchases. The class action, which was certified by the Competition Appeal Tribunal on Monday, alleges Google abused its dominant position by charging up to 30% commission on popular apps on its Play Store, including Roblox, Candy Crush Saga, and Tinder since October 2015.
“For too long, financial markets have been overly complex with high barriers to entry and confusing jargon” ~ RICHARD BRANSON, FOUNDER
OF VIRGIN GROUP
TWITTER WINS BID FOR EXPEDITED TRIAL AGAINST ELON MUSK
Twitter won its motion for an expedited trial in its lawsuit against Elon Musk. Delaware Court of Chancery chancellor Kathaleen McCormick ruled in favor of an expedited 5-day trial, to take place in October, after the conducted hearing. Twitter is seeking to enforce Musk’s $44 billion acquisition of the company despite Musk’s intentions to back out of the deal. The legal squabble, to be tried in the Delaware Court of Chancery, stems from Musk’s decision to terminate his $44 billion acquisition of Twitter.
AMAZON SUES FACEBOOK GROUP ADMINISTRATORS OVER FAKE REVIEWS
Amazon has filed a lawsuit against the administrators of more than 10,000 Facebook groups who have allegedly acted as “fake review brokers”. The lawsuit filed in Seattle accuses the group admins of soliciting reviews for items in exchange for money or free products. One of the groups, “Amazon Product Review,” had more than 43,000 members, and allegedly offered refunds or other payments to buyers willing to leave negative reviews on products like camera tripods and car stereos. Administrators allegedly sought out fake reviews, and offered them to Amazon sellers, charging $10 per review, according to screenshots of Facebook messages included in the complaint.
Plans to build a major hydrogen plant in the Netherlands will go ahead following a final investment decision by subsidiaries of oil and gas giant Shell. In an announcement, Shell said the Holland Hydrogen I facility would be “Europe’s largest renewable hydrogen plant” when operations start in 2025. According to Shell, the 200-megawatt electrolyzer will be located in the Port of Rotterdam, Europe’s largest seaport, generating as much as 60,000 kilograms of renewable hydrogen every day.
