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Mergepoint discount app's sharp reduction in rewards swamped with complaints

Aug 13, 2021 23:25 pm UTC| Economy Business

Online discount app operator Mergepoint has been swamped with consumer complaints after it significantly reduced its financial reward service. On Friday, hundreds flocked to the Seoul headquarters of the apps operator,...

Korea Investment Corp. divests all Alibaba stakes, unsure of investments in other Chinese tech stocks

Aug 13, 2021 23:25 pm UTC| Economy Investing

Korea Investment Corp. divested its entire of 2.9 million shares worth $221.5 million in Alibaba Group Holding during the second quarter of this year. The sovereign wealth fund also had mixed positions toward US-listed...

Cryptocurrency thief returns $260 million worth of Binance, Ethereum, Polygon

Aug 13, 2021 23:24 pm UTC| Digital Currency Economy

The hacker behind one of the largest cryptocurrency robberies has returned $260 million of the $600 million stolen assets from blockchain platform company Poly Network. Before the moneys return, Poly Network asked the...

Coca-Cola shutting down its Detroit plant in October

Aug 13, 2021 09:54 am UTC| Business Economy

Coca-Cola is moving out of Detroit, and apparently, it will be shutting down its facilities there. It was revealed that the companys plant will be closed in October. According to the Detroit Free Press, Coca-Cola is...

SsangYong Motor reportedly wants SM Group to be its new owner

Aug 13, 2021 09:52 am UTC| Business Economy

SsangYong Motor has been put up for sale after struggling to keep the business going. It did not receive many bids at first, but now, many companies have entered the race for its acquisition. It was recently revealed...

NH NongHyup Bank launches branch office in the U.K.

Aug 13, 2021 09:33 am UTC| Business Economy

NH NongHyup Bank announced on Thursday, Aug. 12, that it has opened an office in the capital of England and the United Kingdom. The South Korean agricultural bank headquartered in Jung-gu, Seoul, launched a branch in...

Adidas sold Reebok to Authentic Brand Group for $2.5 billion

Aug 13, 2021 08:27 am UTC| Business Economy

Adidas will be unloading Reebok by selling it to Authentic Brands Groups. However, it will not be getting back the entire investment it used when it acquired the Boston, Massachusetts-headquartered footwear and sportswear...

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Economy

China Industrial Profits Slump Signals Need for More Economic Stimulus

Profits at Chinas industrial firms fell sharply in November, marking the fastest year-on-year decline in more than a year and underscoring the fragile state of the countrys economic recovery. According to data released by...

Japan to Audit Brazil’s Beef System, Paving Way for Market Access

Japan is set to conduct a comprehensive audit of Brazils beef sanitary system in March 2026, marking a significant step toward the possible opening of Japans lucrative beef market to Brazilian beef exports. The...

Wall Street Ends Post-Christmas Session Flat as Investors Eye Santa Claus Rally

Wall Street finished a light-volume, post-Christmas trading session nearly unchanged on Friday, as investors found little fresh news to drive strong market conviction. After a solid five-session rally, all three major U.S....

Argentina Congress Approves 2026 Budget Under Milei, Marking First Legislative Passage Since 2023

Argentinas Congress has approved the countrys 2026 national budget, marking the first budget bill passed by legislators since President Javier Milei assumed office in late 2023. The budget was approved on Friday by a vote...

U.S. Stocks Hold Steady After Christmas as Trading Volumes Stay Light

U.S. stocks were mostly unchanged following the Christmas holiday, as subdued trading activity and thin volumes defined the session ahead of a shortened New Years trading week. With many global markets still observing...

Politics

FBI to Permanently Close Hoover Building, Relocate Headquarters to Reagan Building

FBI Director Kash Patel announced Friday that the agency will permanently shut down its historic headquarters, the J. Edgar Hoover Building in Washington, D.C., marking a major shift in the bureaus long-discussed...

Mark Carney Reaffirms Canada’s Support for Ukraine as Peace Talks With Russia Gain Momentum

Canadian Prime Minister Mark Carney held a phone call with Ukrainian President Volodymyr Zelenskyy on Friday to discuss the latest developments in ongoing peace negotiations between Ukraine and Russia, according to a...

Zelenskiy to Meet Trump in Florida as Ukraine-U.S. Peace Framework Nears Completion

Ukrainian President Volodymyr Zelenskiy is set to meet U.S. President Donald Trump in Florida on Sunday to discuss key territorial issues and security guarantees as negotiations aimed at ending the war in Ukraine enter a...

Lebanon Cabinet Approves Financial Gap Law to Tackle Ongoing Economic Crisis

Lebanons cabinet has approved a controversial draft law aimed at addressing the countrys prolonged financial crisis, a move seen as a critical step toward unlocking long-awaited international financial support. The...

Zelenskiy to Meet Trump to Advance Ukraine Peace Talks and Security Guarantees

Ukrainian President Volodymyr Zelenskiy announced on Friday that he plans to meet with U.S. President Donald Trump on Sunday as part of ongoing efforts to bring an end to Russias war in Ukraine. The high-level meeting is...

Science

Jared Isaacman Confirmed as NASA Administrator, Becomes 15th Leader of U.S. Space Agency

The U.S. Senate has officially confirmed billionaire private astronaut Jared Isaacman as the new NASA administrator, making him the 15th leader in the agencys history. The confirmation, which took place on Wednesday, marks...

Senate Sets December 8 Vote on Trump’s NASA Nominee Jared Isaacman

The U.S. Senate Commerce Committee announced it will vote on December 8 on President Donald Trumps renewed nomination of private astronaut and tech entrepreneur Jared Isaacman to lead NASA. Isaacman, known for his...

NASA Cuts Boeing Starliner Missions as SpaceX Pulls Ahead

NASA has significantly scaled back Boeings Starliner program after years of technical issues and delays, announcing that the next Starliner mission to the International Space Station (ISS) will fly without astronauts. The...

Blue Origin’s New Glenn Achieves Breakthrough Success With First NASA Mission

Blue Origins massive New Glenn rocket marked a major milestone as it completed its first mission for paying customers, sending two NASA satellites toward Mars and successfully landing its reusable booster at sea. The...

Cogent Biosciences Soars 120% on Breakthrough Phase 3 Results for Bezuclastinib in GIST Treatment

Cogent Biosciences (NASDAQ: COGT) shares skyrocketed over 120% after the biotech company announced groundbreaking results from its Phase 3 PEAK trial evaluating bezuclastinib in combination with sunitinib for patients with...

Technology

Nvidia and Groq Strike Strategic AI Inference Licensing Deal

Reports earlier this week suggested that Nvidia (NASDAQ: NVDA) had agreed to acquire AI chip startup Groq in a $20 billion all-cash transaction. However, updated details clarify that the arrangement is not a traditional...

TSMC Honors Japanese Chip Equipment Makers With 2025 Supplier Awards

Several leading Japanese semiconductor equipment manufacturers have been recognized with 2025 Supplier Awards from Taiwan Semiconductor Manufacturing Company (TSMC), highlighting their growing importance in the global chip...

Nvidia to Acquire Groq in $20 Billion Deal to Boost AI Chip Dominance

NVIDIA (NASDAQ: NVDA) has reportedly agreed to acquire Groq, a fast-growing designer of high-performance artificial intelligence accelerator chips, in a $20 billion all-cash transaction, according to a CNBC report. The...

Texas App Store Age Verification Law Blocked by Federal Judge in First Amendment Ruling

A federal judge in Texas has blocked the enforcement of a new state law that would have required app stores and developers to verify users ages, marking a significant legal win for major technology companies and digital...

FTC Praises Instacart for Ending AI Pricing Tests After $60M Settlement

The U.S. Federal Trade Commission has welcomed Instacarts decision to end its artificial intelligence-based price testing, a move that follows weeks of consumer backlash and regulatory scrutiny. FTC Chair Andrew Ferguson...