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Lotte Group, Meritz Securities join forces to solve Lotte E&C’s debt crisis

Jan 09, 2023 09:47 am UTC| Business Economy

Lotte Group has teamed up with Meritz Securities Co. to address the debt mess which Lotte EC is facing. The two set up a KRW1.5 trillion joint fund to support the struggling engineering and construction company, which is...

Digital Currency Revolution

Metaverse: KT Alpha, Caliverse sign for immersive metaverse content

Jan 09, 2023 08:59 am UTC| Business Investing Digital Currency

KT Alpha, a subsidiary of KT Telecom that also distributes content rights for movies, animations and others, sign a memorandum of understanding (MOU) with Caliverse, a subsidiary of Lotte Groups Lotte Data Communication...

McDonald’s bares reorganization plans and job cuts to focus on expansion

Jan 09, 2023 08:29 am UTC| Business Economy

McDonalds may undergo reorganization, and job cuts may also be on the cards. It was reported that the fast-food chains chief executive officer, Chris Kempczinski, already told employees about the plans on Friday, Jan. 6,...

Naver completes acquisition of Poshmark online marketplace for $1.2 billion

Jan 09, 2023 08:12 am UTC| Business Economy

Naver Corp. has officially acquired Poshmark, a US-based online marketplace that allows users to buy and sell both brand-new and secondhand goods, including electronic items. The South Korean internet company recently...

Dell plans to stop using China-made chips by 2024

Jan 09, 2023 08:02 am UTC| Business Economy

Dell Technologies Inc. is reportedly planning to phase out chips from China and hopes to achieve this by next year. The company was said to have told its suppliers to minimize and lessen the number of China-made components...

Amazon job cuts to exceed 18,000 roles: CEO

Jan 06, 2023 23:04 pm UTC| Business Economy

Amazon.com has increased its planned layoffs to over 18,000 roles which would largely impact its e-commerce and human resources organizations. According to CEO Andy Jassy, they will communicate the layoffs starting...

Rasa launches new adaptogen-infused coffee alternatives

Jan 06, 2023 23:03 pm UTC| Health Life Economy Business

Rasa has launched two coffee alternative mixes with adaptogenic herbs and mushrooms instead of caffeine, the Classic Rasa and Café Rasa. Rasa CEO and founder, Lopa van der Mersch, said Classic Rasa, which is made...

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Economy

U.S. Inflation Cools in January as Gas Prices Fall, Core CPI Signals Sticky Price Pressures

U.S. consumer prices rose less than expected in January, offering modest relief to households as gasoline and rental costs eased. However, persistent increases in service-related expenses suggest the Federal Reserve may...

U.S. Stocks End Mixed as January CPI Cools, Treasury Yields Slide

U.S. stocks closed mixed on Friday after a volatile trading session, as investors reacted to softer-than-expected January CPI data and falling Treasury yields. The SP 500 finished flat at 6,835.08, while the Dow Jones...

Asian Currencies Slip as Dollar Stabilizes Ahead of U.S. CPI Data

Asian currencies edged lower on Friday as the U.S. dollar steadied, with traders closely monitoring upcoming U.S. consumer price index (CPI) data for signals on the Federal Reserves interest rate outlook. Despite the daily...

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...

Politics

Anduril Eyes $60 Billion Valuation in New Funding Round to Expand Defense Manufacturing and Autonomous Fighter Jet Development

U.S. defense technology firm Anduril Industries is reportedly in discussions to raise billions of dollars in fresh funding at a valuation of at least $60 billion, according to a recent report by The Information citing...

Trump Maritime Action Plan Targets U.S. Shipbuilding Revival and Port Fee Funding

The Trump administration has unveiled a sweeping Maritime Action Plan aimed at rebuilding U.S. shipbuilding and strengthening the nations broader maritime industry. The more than 30-page strategy outlines a long-term...

Peru Congress Schedules Debate on Motion to Remove President Jose Jeri Amid Scandal

Perus Congress has scheduled a key debate for Tuesday on a motion to remove President Jose Jeri, intensifying political uncertainty in the country. Congressional leader Fernando Rospigliosi announced the decision on social...

Starmer Calls for Stronger European Defence Cooperation to Reinforce NATO and Reduce U.S. Reliance

British Prime Minister Keir Starmer is set to call for closer European defence cooperation to reduce NATOs reliance on the United States, emphasizing greater integration across Europes defence industry. Speaking at the...

U.S.-Iran and Russia-Ukraine Talks Set for High-Stakes Geneva Meeting

Two critical rounds of diplomatic negotiations focusing on Iran and the Russia-Ukraine war are scheduled to take place in Geneva on Tuesday, according to a source familiar with the matter. The high-level meetings signal...

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

Grok AI Market Share Surges as xAI Faces Scrutiny Over Image Generation Controversy

Elon Musks AI chatbot Grok is rapidly gaining traction in the U.S., even as it faces mounting global criticism over the generation of non-consensual and sexualized AI images. According to data from app intelligence firm...

Lockheed Martin Secures $101M in U.S. Defense Contracts for AEGIS, F-35, and Missile Systems

Lockheed Martin has been awarded three U.S. Department of Defense contracts worth approximately $101 million, reinforcing its role as a leading defense contractor in advanced military systems, fighter jet support, and...

GE Aerospace Expands Singapore Engine Repair Hub with Automation and AI to Tackle Aviation Bottlenecks

GE Aerospace is accelerating automation and AI-driven innovation at its Singapore engine repair hub as global airlines grapple with maintenance delays, parts shortages, and extended turnaround times. At the center of this...

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...