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Tesla’s new $1B plant is rising in Mexico

Mar 01, 2023 11:30 am UTC| Business Economy

Tesla Inc. is building a new plant and it has confirmed this week that it will soon rise in Mexico. The project is said to be worth at least $1 billion. The exact location is in northern Mexico and Tesla said this will...

Iljin Materials announces name change to Lotte Energy Materials

Mar 01, 2023 09:34 am UTC| Business Economy

Iljin Materials Co. was acquired by the Lotte Group last year, and the deal has been finalized after the anti-trust regulator in the country approved the acquisition last month. The negotiation is now expected to close...

Nestlé pulls out production, shutdowns plant and HQ in Myanmar

Mar 01, 2023 09:27 am UTC| Business Economy

Nestlé food company is leaving Myanmar as the turmoil in the country intensifies. With this move, the Switzerland-based food and drink giant just joined the growing list of major brands that are packing up and...

Samsung Electronics files for XR trademarks, working on ‘Galaxy Ring’ AR glasses

Mar 01, 2023 08:16 am UTC| Business Economy

Samsung Electronics reportedly filed for new trademark applications for various Extended Reality (XR) products. It was also mentioned that the South Korean electronics firm is currently working on the development of...

Nissan announces recall for over 800,000 Rogue SUVs

Mar 01, 2023 07:42 am UTC| Business Economy

Nissan Motor Co. Ltd. recalls more than 800,000 sports utility vehicles as it was discovered they could shut off while in the middle of driving. The affected SUV models are the Nissan Rogues and Nissan Rogue Sports which...

McDonald’s franchisees refuse Cardi B, Offset promotion of new meals

Mar 01, 2023 06:53 am UTC| Business Economy

McDonalds released new ads for its newest celebrity-sponsored meal promotion. This time, it features American rappers Cardi B and Offset, which received negative feedback. In fact, some McDonalds franchisees have...

LG Electronics announces venture into the cosmetics biz

Mar 01, 2023 06:52 am UTC| Business Economy

LG Electronics Inc. revealed on Tuesday, Feb. 28, that it has jumped into the cosmetics business. The South Korean electronics firm said this will be its new business category and will be officially announced on March 27...

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Economy

China Sets 1.25% Overnight Reverse Repo Rate Below Market Expectations

Chinas central bank has introduced its new overnight reverse repo operation, setting the interest rate at 1.25%, according to a Reuters report citing people familiar with the matter. The move marks another step in the...

Japan Targets 1%+ Real Economic Growth With ¥370 Trillion Investment Plan

Japans government is preparing an ambitious long-term economic strategy aimed at achieving sustained annual real economic growth of more than 1%, according to a draft of its latest economic and fiscal policy framework. The...

China Expands Export Controls, Adds 20 Japanese Companies to Restricted List

China has expanded its export control measures by adding 20 Japanese organizations and companies to its restricted export list, marking another escalation in the ongoing diplomatic and trade tensions between Beijing and...

China Factory PMI Seen Returning to Growth in June as AI Export Demand Supports Economy

Chinas manufacturing sector is expected to return to modest growth in June, supported by resilient exports tied to the booming global artificial intelligence (AI) industry. However, economists caution that the recovery...

US Stock Futures Rise as US-Iran Ceasefire Hopes Boost Market Sentiment

U.S. stock index futures moved higher late Sunday as investors reacted positively to reports that the United States and Iran had agreed to suspend recent military hostilities and resume diplomatic negotiations, easing...

Politics

Taiwan Coast Guard Officer Finds Strength in Faith as China Increases Pressure in Taiwan Strait

As tensions in the Taiwan Strait continue to rise, one Taiwan Coast Guard officer has found reassurance in an unusual combination of professional duty and spiritual faith. Yeh Chih-sheng, the first mate aboard Taiwan Coast...

Australia, Vanuatu Sign Security Pact Amid Pacific Influence Competition

Australia and Vanuatu have officially signed a long-awaited development and security agreement, reinforcing their strategic partnership while highlighting the growing geopolitical competition for influence in the Pacific...

Serbia Protests Continue as Thousands Rally Despite Vucic’s Resignation Plan

Thousands of demonstrators gathered in the central Serbian city of Kraljevo on Sunday, maintaining pressure on President Aleksandar Vucic just one day after he announced plans to resign within weeks and trigger early...

Iran Skips U.S. Technical Talks Over Unmet MoU Conditions and Frozen Funds Dispute

Iran did not participate in the technical talks scheduled for Sunday, citing recent military attacks on the country and unresolved conditions outlined in its memorandum of understanding (MoU) with the United States. The...

Trump Announces September Overhaul of Washington’s East Potomac Golf Links

U.S. President Donald Trump announced that a major renovation of Washingtons historic East Potomac Golf Links will begin on September 1, with plans to transform the century-old public golf course into what he described as...

Science

Blue Origin New Glenn Explosion Could Delay Launch Operations Until 2028

Blue Origin is facing a significant setback after a dramatic explosion involving its New Glenn rocket severely damaged a launch pad at Cape Canaveral, Florida. According to NASA Administrator Jared Isaacman, repairs to the...

Blue Origin New Glenn Rocket Explodes During Launch Pad Test, Delaying Space Ambitions

Blue Origin suffered a major setback after its uncrewed New Glenn rocket exploded during a launch pad test in Florida on Thursday, raising new challenges for Jeff Bezos space company as it competes with Elon Musks SpaceX...

SpaceX Delays Starship V3 Launch Ahead of Potential Record IPO

SpaceX on Thursday postponed the highly anticipated launch of its 12th Starship rocket test from Texas after technical issues interrupted the final countdown. The company now plans to attempt the Starship V3 launch again...

Trump Administration Releases New UFO Files and Apollo Mission Records

The U.S. Defense Department has released dozens of previously classified UFO-related files following an order from President Donald Trump, sparking renewed debate over unidentified anomalous phenomena (UAP) and government...

China vs. NASA: The New Moon Race and What's at Stake by 2030

The space race is back and this time, its a direct competition between the United States and China for dominance on the lunar surface. NASAs Artemis II mission recently made history when four astronauts flew farther into...

Technology

Lenovo Shares Slide as AI-Driven Memory Demand Signals Higher DRAM and NAND Prices

Lenovo Group (HK:0992) shares tumbled nearly 10% in Hong Kong on Monday after the company said it expects DRAM and NAND memory prices to remain structurally higher for years, citing booming artificial intelligence (AI)...

Morgan Stanley Raises Tesla Q2 Delivery Forecast on Strong Europe and China Demand

Morgan Stanley has increased its second-quarter delivery forecast for Tesla Inc. (NASDAQ: TSLA), citing stronger-than-expected electric vehicle (EV) sales in Europe and China. The revised outlook reflects improving demand...

Open-Source AI Models Gain Ground as Enterprises Seek Lower-Cost Alternatives, Citi Says

Open-source artificial intelligence (AI) models are rapidly gaining traction as businesses search for cost-effective alternatives to proprietary AI systems, according to a new research note from Citi. The shift comes as...

Samsung, SK Hynix to Unveil $1.3 Trillion AI and Semiconductor Investment Plan

South Korean technology leaders Samsung Electronics and SK Hynix are reportedly preparing to announce investment plans worth a combined 2,000 trillion won (approximately $1.3 trillion) to strengthen the countrys...

UBS Raises TSMC Price Target to T$3,400 on Strong AI Chip Demand Outlook

Taiwan Semiconductor Manufacturing Company (TSMC) received a fresh vote of confidence from UBS after the investment bank raised its price target for the worlds largest contract chipmaker, citing robust artificial...