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Fri, Dec 26, 2025 09:38 AM All times are UTC

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Hyundai, Kia to suspend plant operations due to chip shortages

May 14, 2021 21:35 pm UTC| Economy Business

Hyundai Motor Co. will suspend its No. 3 and 5 Ulsan plants for several days next week while its affiliate Kia Corp. will suspend its No. 2 Sohari plant due to semiconductor shortages. Operations at the No. 5 Ulsan...

Chick-fil-A limits sauce distribution to customers due to supply chain woes

May 14, 2021 21:28 pm UTC| Economy Business

Chick-fil-A announced it will be limiting customers to one sauce cup or packet per item ordered at most of its approximately 2,600 restaurants. The chicken sandwich company said it is making adjustments to quickly solve...

Kepco's Q1 operating profit soars 33% to 571.6 billion won

May 14, 2021 21:22 pm UTC| Economy Business

Korea Electric Power Corp.s (Kepco) first-quarter operating profit soared 32.8 percent on-year to 571.6 billion won as revenue dropped 0.1 percent to 15 trillion won. The state-owned, electricity-focused utility saved...

McDonald’s announces hourly wage pay hike to attract applicants as it aims to hire 10,000 workers

May 14, 2021 09:43 am UTC| Business Economy

McDonalds is hiking up its hourly wages in its restaurants in the U.S. as it looks to recruit 10,000 staff for some state locations. The labor market in the country is currently experiencing a shortage as restaurants are...

Korean Air, Asiana Airlines sign $260 million engine maintenance deal

May 14, 2021 09:16 am UTC| Business Economy

Korean Air and Asiana Airlines have signed a new contract worth ₩290 billion or about $260 million. The leading carriers in South Korea have teamed up for an engine maintenance deal. As per The Korea Times, Korean Air...

Hyundai Motor investing $7.4 billion in the U.S. and will focus on EV production

May 14, 2021 08:50 am UTC| Business Economy

Hyundai Motor Group announced on Thursday, May 13, that it will be investing $7.4 billion in the U.S. by 2025 with the aim of producing electric vehicles. The investment will also go to improving the production line and...

S. Korea to build the world's largest semiconductor manufacturing complex

May 14, 2021 08:04 am UTC| Business Economy

South Korea revealed its plan to build a chip manufacturing complex as it aspires to become the worlds largest semiconductor manufacturing hub and chip supply chain. The government announced on Thursday, May 13, that it...

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Economy

China to Tighten Crude Steel Output Controls and Export Regulation Through 2030

China has announced it will continue strict regulation of crude steel output and prohibit the addition of illegal new capacity from 2026 to 2030, reinforcing its long-term strategy to curb overcapacity and reduce carbon...

Asian Stocks and Gold Rally as Investors Chase Year-End Gains Amid Dollar Weakness

Asian stock markets climbed to their highest levels in six weeks on Friday, extending a strong year-end rally as investors looked to finish the year on a positive note. Despite thin trading volumes due to market holidays...

Gold and Silver Hit Record Highs as Safe-Haven Demand Surges Amid Global Uncertainty

Gold and silver prices surged to fresh record highs on Friday, extending a strong year-end rally as investors rushed into safe-haven assets amid escalating geopolitical tensions and a weakening U.S. dollar. Precious metals...

Platinum Surges to Record High as Supply Crunch and Policy Shift Drive Historic Rally

Platinum prices soared to a record high on Friday, marking one of the strongest rallies in the metals history as a combination of supply constraints, shifting investor sentiment, and an unexpected European Union policy...

China Revises 2024 GDP Lower After Final Review, Eyes Growth in 2025

Chinas economy in 2024 was officially revised downward following a final verification by the countrys statistics bureau, highlighting ongoing adjustments in the worlds second-largest economy. According to the latest...

Politics

Japan Approves Record ¥122.3 Trillion Budget as Takaichi Seeks Fiscal Balance

Japans government, led by Prime Minister Sanae Takaichi, has approved a record-breaking budget worth 122.3 trillion yen ($785 billion) for the next fiscal year starting in April, underscoring its attempt to balance...

White House East Wing Ballroom Plans Face Scrutiny Ahead of January Hearing

The White House is set to reveal new details about President Donald Trumps proposed East Wing ballroom during a federal commission hearing scheduled for early next month, according to official notices. The project, which...

Zelenskiy Discusses Ukraine Peace Efforts With Trump Envoys

Ukrainian President Volodymyr Zelenskiy said on Thursday that he held an extensive discussion with U.S. President Donald Trumps special envoy Steve Witkoff and Trumps son-in-law Jared Kushner, focusing on possible ways to...

Kim Jong Un Signals Continued Missile Development as North Korea Plans Five-Year Military Modernization

North Korean leader Kim Jong Un has signaled that the country will continue to advance its missile capabilities over the next five years, underscoring Pyongyangs ongoing focus on strengthening its military deterrence....

US Airstrikes Target Islamic State Militants in Northwest Nigeria Amid Rising Security Concerns

The United States has carried out airstrikes against Islamic State militants operating in northwest Nigeria, according to a statement made by U.S. President Donald Trump on Thursday. The strikes were described as a direct...

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 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...

John Carreyrou Sues Major AI Firms Over Alleged Copyrighted Book Use in AI Training

Investigative journalist John Carreyrou, widely known for exposing fraud at Silicon Valley blood-testing startup Theranos and for authoring the bestselling book Bad Blood, has filed a new copyright infringement lawsuit...

Italy Fines Apple €98.6 Million Over App Store Dominance

Italys competition authority has imposed a 98.6 million ($115.53 million) fine on U.S. technology giant Apple and two of its subsidiaries, citing alleged abuse of a dominant market position related to the distribution of...