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Mitsubishi Electric president to step down, apologizes over fake test data

Jul 03, 2021 23:52 pm UTC| Economy Business

Mitsubishi Electric Corp. Takeshi Sugiyama apologized for causing trouble and will resign to take responsibility for test data falsifications on equipment supplied to railway firms that may date back over 30...

France probes fashion groups Uniqlo, Zara, Skechers, SMCP 3 over Uyghur labor

Jul 03, 2021 23:48 pm UTC| Economy Business

French magistrates have opened an inquiry into allegations that fashion groups Inditex, Uniqlo, SMCP, and Skechers profited from the forced labor of the Uyghur minority in China. The case stemmed from a complaint lodged...

S. Korea to sell 2 trillion won of treasury bills in July

Jul 03, 2021 23:41 pm UTC| Economy Business

South Korea will sell 2 trillion won worth of treasury bills with a maturity of 63 days in four separate auctions this month to repay maturing debt. With the sale, South Koreas outstanding amount of treasury bills is...

Tesla delivers over 200,000 vehicles in 2nd quarter despite chip shortage

Jul 03, 2021 23:32 pm UTC| Economy Business

Tesla delivered 201,250 electric vehicles in the second quarter, just a bit short of Wall Street estimates of 207,000 vehicles, despite a global computer chip shortage that hobbled the auto industry. The sales figures...

Samsung Heavy receives DNV GL's approval for fuel cell-powered LNG carrier design

Jul 02, 2021 23:46 pm UTC| Economy Business

Samsung Heavy Industries Co. received approval in principle for its design of the worlds first fuel-cell propelled LNG carrier from Norwegian-German ship quality assurance society DNV GL. The South Korean shipbuilder...

S. Korea to expand tax incentives, ease regulations for chipmakers

Jul 02, 2021 23:43 pm UTC| Economy Business

South Korea will offer more tax incentives and lift more regulations for chipmakers to achieve its vision of becoming a global powerhouse in memory and non-memory chips. The country is also investing in research and...

Coca-Cola Great Britain to stop using virgin plastic in on-the-go bottles

Jul 02, 2021 23:26 pm UTC| Economy Nature Business

Coca-Cola Great Britain has transitioned to 100 percent recycled plastic for all its on-the-go bottles, which involve those 500ml or less. The transition covers the companys entire brand portfolio, including Coca-Cola...

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Economy

Asian Currencies Slide as Strong US Dollar and Hawkish Fed Pressure Regional FX Markets

Asian currencies weakened on Thursday as a stronger US dollar and hawkish signals from Federal Reserve officials weighed on regional foreign exchange markets. The South Korean won and Indian rupee led losses, while the...

BOJ Rate Hike to 1% by June in Focus as Inflation and Weak Yen Pressure Mount

The Bank of Japan (BOJ) is increasingly expected to raise its key interest rate to 1% by the end of June, according to a recent Reuters poll of economists. The shift in forecasts reflects growing concerns about rising...

Sanae Takaichi Seeks Market Trust as Japan Weighs Spending and Tax Cuts

Japanese Prime Minister Sanae Takaichi is preparing to defend her proactive fiscal policies as parliament begins deliberations on her flagship spending and tax cut plans next week. While Takaichi has pledged to boost...

RBNZ Signals Potential Interest Rate Hike as Inflation Outlook Remains Uncertain

New Zealands central bank has indicated that the next move in interest rates is likely to be upward, although economic uncertainty continues to cloud the timing. Karen Silk, Assistant Governor of the Reserve Bank of New...

Oil Prices Ease After 4% Surge as U.S.-Iran Tensions and Supply Risks Remain in Focus

Oil prices edged lower during early Asian trading on Thursday, retreating slightly after a sharp 4% rally in the previous session. Investors are closely monitoring rising geopolitical tensions between the United States and...

Politics

Bill Gates Pulls Out of India’s AI Impact Summit Amid Controversy and Event Mismanagement

Bill Gates withdrew from Indias AI Impact Summit just hours before his scheduled keynote address, dealing a major setback to the high-profile artificial intelligence event in New Delhi. The Gates Foundation confirmed that...

Trump Convenes Board of Peace as $5 Billion Gaza Reconstruction Fund Announced

U.S. President Donald Trump will chair the first meeting of his newly formed Board of Peace on Thursday, placing the future of Gaza reconstruction and regional stability at the center of global attention. The high-profile...

Peru Elects Jose Balcazar as Interim President Ahead of April General Elections

Peruvian lawmakers have elected veteran left-wing legislator Jose Balcazar as the countrys new interim president, marking Perus eighth president in just eight years and underscoring the nations ongoing political...

Trump Says U.S. Trade Deficit Shrinking Sharply as 2026 Trade Surplus Looms

U.S. President Donald Trump said Wednesday that Americas trade deficit has narrowed significantly due to his 2025 trade tariffs, adding that the country could post its first trade surplus in decades as early as this year....

Lavrov Warns of Serious Consequences if U.S. Launches New Strike on Iran

Russian Foreign Minister Sergei Lavrov has warned that any new U.S. strike on Iran would trigger serious consequences and further destabilize the Middle East. In an interview aired by Saudi Arabias Al-Arabiya television...

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

OpenAI Nears $100 Billion Funding Round at $850 Billion Valuation: Bloomberg Report

OpenAI is reportedly close to completing the first phase of a massive new funding round expected to raise more than $100 billion, according to a Bloomberg report citing sources familiar with the matter. The deal could push...

Microsoft Responds to ICE Surveillance Concerns Amid Azure Cloud Expansion

Microsoft said Wednesday it does not believe U.S. Immigration and Customs Enforcement (ICE) is using its technology for mass surveillance of civilians, following a report that the agency significantly expanded its use of...

Mark Zuckerberg Testifies in Youth Social Media Addiction Trial Over Instagram Policies

Meta Platforms CEO Mark Zuckerberg testified in a landmark Los Angeles trial addressing allegations that Instagram and YouTube contributed to youth social media addiction and harmed a young users mental health. The...

European IT Hardware Stocks to Watch as Gaming Demand Outpaces Smartphones, Says BofA

BofA Researchs February report highlights a clear split in European IT hardware demand trends, with gaming spending significantly outperforming other consumer technology categories while smartphone sales remain under...

Microsoft Plans $50 Billion AI Investment to Accelerate Growth in the Global South

Microsoft has announced plans to invest up to $50 billion by the end of the decade to expand artificial intelligence (AI) infrastructure and digital capabilities across countries in the Global South. The announcement was...