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Netflix reveals massive $2.5B investment for Korean content

Apr 26, 2023 09:17 am UTC| Business Economy

Netflix Inc. unveiled its investment plan for K-content in South Korea. It will be spending $2.5 billion in over four years as the streaming media company notes that Korean content continues to rule the entertainment...

Samsung SDI, GM to build EV battery plant in $3B JV in US

Apr 26, 2023 09:09 am UTC| Business Economy

Samsung SDI Co. Ltd. and General Motors Company announced they are investing more than $3 billion for the expansion of their battery cell manufacturing business in the United States. They will build a new plant for battery...

SK Telecom signs strategic partnership deal with Scatter Lab chatbot start-up with $11M investment

Apr 26, 2023 08:23 am UTC| Business Economy

SK Telecom is investing KRW15 billion or about $11.2 million in Scatter Lab, an AI startup, as part of a strategic partnership deal. The companies will jointly create a chatbot or AI agent that will be integrated into the...

LVMH surpasses $500B market value, becomes the first European company to hit the mark

Apr 26, 2023 07:28 am UTC| Business Economy

Louis Vuitton Mot Hennessy, or simply LVMH, is a French luxury goods company that is known around the world. This week, it was reported that it has become the very first European company to exceed the $500 billion mark in...

Hankook Tire hastens China expansion to supply tires to Leapmotor EV maker

Apr 26, 2023 07:27 am UTC| Business Economy

Hankook Tire Technology Co. Ltd. recently signed a deal with Chinas electric vehicle maker, Leapmotor. The contract is for the supply of tires for sports utility vehicles. With the agreement, Hankook Tire just speeds...

Löfbergs to use Amcor's recycle-ready coffee packaging

Apr 25, 2023 23:48 pm UTC| Nature Life Economy Business

Amcor will provide Swedish coffee group Lfbergs with mono-material coffee packaging that reduces carbon footprint by 55 percent for both chemical and mechanical recycling. Lfbergs new coffee pouch by Amcor features an...

Lipton expands into alcoholic beverages with hard iced tea line

Apr 25, 2023 23:47 pm UTC| Life Economy Business

Lipton has expanded into the alcoholic beverage sector with the launch of its 5 percent ABV non-carbonated drink Lipton Hard Iced Tea. Made with brewed Lipton tea, natural flavors, and a triple-filtered malt base,...

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Economy

Oil Prices Steady but Head for Weekly Loss as Supply Glut Concerns Weigh

Oil prices were mostly steady during Asian trading on Friday, yet both benchmark crude contracts remained on track for weekly losses after a sharp selloff in the previous session. Brent crude futures for April delivery...

Fed Governor Stephen Miran Warns Tight Monetary Policy Threatens U.S. Economic Growth

Federal Reserve Governor Stephen Miran cautioned that the central banks current monetary policy stance could pose a significant risk to U.S. economic growth. Speaking at a Dallas Fed event on Thursday, Miran argued that...

Japan, U.S. Speed Up Talks on $550 Billion Investment Deal Amid Tariff Pressure

Japan and the United States have agreed to accelerate negotiations on the first round of projects under Tokyos $550 billion investment package, as both sides work to resolve outstanding issues. Japanese Trade Minister...

Yen Surges After Takaichi Election Win as Markets Eye U.S. Inflation Data

The Japanese yen is on track for its strongest weekly performance in nearly 15 months after Prime Minister Sanae Takaichis historic election victory eased investor concerns about Japans fiscal stability. The currency has...

Japan Signals Openness to Gradual BOJ Rate Hikes as Deflation Era Ends

Japans government may not need to appoint reflation advocates to upcoming vacancies on the Bank of Japan (BOJ) board, signaling potential support for gradual interest rate hikes as the country moves beyond decades of...

Politics

Federal Judge Blocks Trump Administration’s $600 Million Public Health Funding Cuts to Democratic-Led States

A federal judge in Chicago has temporarily blocked the Trump administration from moving forward with $600 million in proposed public health funding cuts affecting four Democratic-led states. The ruling marks the latest...

U.S.–Taiwan Trade Agreement Sets 15% Tariff, Boosts Energy and Semiconductor Investment

The United States and Taiwan have finalized a reciprocal trade agreement that sets a 15% U.S. tariff rate on imports from Taiwan while paving the way for lower Taiwanese tariffs on nearly all American goods. The deal,...

Trump Ends Minnesota Deportation Surge After Protests and Political Backlash

President Donald Trump has agreed to wind down the controversial immigration enforcement effort known as Operation Metro Surge in Minnesota, marking a rare policy reversal amid mounting protests and bipartisan criticism....

Zelenskiy Signals Support for U.S. Peace Plan as Trump Pushes Russia-Ukraine War Deal

Ukrainian President Volodymyr Zelenskiy has reaffirmed Kyivs willingness to support U.S.-led peace proposals aimed at ending the Russia-Ukraine war, as President Donald Trump intensifies efforts to broker a resolution...

Australian Liberal Party to Elect New Leader After Sussan Ley Loses Party Room Vote

Australias Liberal Party is set to elect a new leader after opposition leader Sussan Ley lost a crucial party room vote, according to a report by the Australian Broadcasting Corporation (ABC) on Friday. The leadership...

Science

SpaceX Pivots Toward Moon City as Musk Reframes Long-Term Space Vision

SpaceX CEO Elon Musk has revealed a significant shift in the companys near-term space exploration strategy, announcing that SpaceX is now prioritizing the development of a self-growing city on the Moon rather than focusing...

SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates

Elon Musks SpaceX is shifting its near-term space exploration strategy, choosing to prioritize a return to the Moon before pursuing missions to Mars, according to a recent Wall Street Journal report citing sources familiar...

NASA and SpaceX Target Crew-11 Undocking From ISS Amid Medical Concern

NASA has confirmed that the agency, in coordination with SpaceX, is targeting no earlier than 5 p.m. Eastern Time (2200 GMT) on Wednesday, January 14, for the undocking of the SpaceX Crew-11 mission from the International...

Neuralink Plans High-Volume Brain Implant Production and Fully Automated Surgery by 2026

Elon Musks brain-computer interface company Neuralink is preparing for a major expansion, announcing plans to begin high-volume production of its brain implant devices and transition to a fully automated surgical procedure...

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...

Technology

U.S. Commerce Department Reaches $252 Million Settlement With Applied Materials Over China Exports

The U.S. Department of Commerce has announced a $252 million settlement with Applied Materials, resolving allegations that the semiconductor equipment maker illegally exported U.S. chip manufacturing technology to China....

Russia Moves to Fully Block WhatsApp as Kremlin Pushes State-Backed MAX App

Russia has reportedly attempted to fully block WhatsApp, the popular messaging service owned by Meta Platforms, as part of its broader efforts to tighten control over the countrys digital space. According to a company...

Instagram CEO Defends Platform in Youth Mental Health Lawsuit Over Social Media Addiction Claims

Adam Mosseri, head of Meta Platforms Instagram, defended the companys product decisions during a high-profile trial in Los Angeles centered on allegations that social media addiction has contributed to a youth mental...

FTC Questions Apple News Over Alleged Bias Against Conservative Media

The U.S. Federal Trade Commission (FTC) has raised concerns about Apple News following allegations that the platform favors left-leaning media outlets while excluding conservative publications. In a letter addressed to...

Pentagon Seeks Broader Access to AI Tools on Classified Military Networks

The Pentagon is accelerating efforts to deploy advanced artificial intelligence tools across both unclassified and classified military networks, signaling a major shift in how the U.S. Department of Defense plans to...