COMPANY NEWS IN BRIEF
Vodafone, Google deepen AI ties across Europe, AfricaBritain's Vodafone said on Tuesday it has deepened its strategic partnership with Alphabet's Google in a ten-year, billion dollar plus deal that will bring the U.S. tech giant's new generative AI-powered devices to customers across Europe and Africa.
Vodafone said it would expand access to Google's artificial intelligence-powered Pixel devices with its 5G network in Europe and would continue promoting the Android ecosystem.
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Global technology companies are competing to lure customers to upgrade their phones using new generative AI features, with the likes of Apple, Google and Samsung offering a suite of visual, text and audio features powered by AI.
Vodafone will offer Google One AI Premium subscription plans, which include Gemini Advanced, in certain countries by 2025, it said.
Vodafone will also use Google Cloud's enterprise-ready AI platform as part of the expanded partnership.
Google is in an AI race with companies such as OpenAI, which is backed by the likes of Microsoft and NVIDIA.
-REUTERS
Competition watchdog approves Transnet's Durban Container Terminal concession deal
The Competition Commission has approved a transaction in which International Container Terminal Services Incorporated's (ICTSI) will expand, upgrade and operate the Durban Container Terminal Pier 2 (DCT2).
The commission on Monday conditionally green-lighted the deal after finding that proposed transaction is unlikely to substantially lessen or prevent competition in any market.
A publicly listed company incorporated in accordance with the laws of the Philippines, ICTSI was last year awarded a 25-year contract to partner with Transnet through participation in the equity and funding of a newly established company which will be responsible for the expansion and upgrading of Africa's largest container terminal.
The global container terminal group has no assets in South Africa and does not control any other that provides goods or services in the country, the Commission noted.
The approval is, however, on the condition that Transnet does not retrench any employees in South Africa for a period of three years following the merger implementation date. The state-owned logistics company had already promised that employees seconded to the new company will not be unfavourably impacted.
-FIN24
As Nike struggles, Adidas must surf Samba wave with caution
Nike's ongoing struggles are giving Adidas a chance to keep taking market share from its larger US rival, but the German brand will have to work harder to keep shoppers interested in its key Samba and Gazelle terrace sneakers.
The shoes have boosted Adidas sales over the past year, and analysts expect it to report third-quarter revenues of 6.4 billion euros (R123 billion), a 10% increase on a year ago in currency-adjusted terms, when it reports earnings on October 29.
But, more than a year into the trend, the Samba won't remain the "it shoe" for much longer, industry experts say.
"The sneakerheads, the more fashion-forward consumer, they already have the shoes. We're now looking at them (Adidas) milking the rest of the trend on the way down by introducing lower price points within terrace," said Aneesha Sherman, analyst at Bernstein.
In Europe, Adidas has taken market share over the past year while Nike's share has fallen, according to direct to consumer sales data from Consumer Edge which also shows significant gains by On Running, Puma, and Hoka.
-FIN24