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SK Innovation posts 502.5 billion won operating profit in Q1, expects strong battery orders

May 13, 2021 23:19 pm UTC| Economy Business

SK Innovation Co. posted a 502.5 billion won operating profit on a consolidated basis in the first quarter, turning around from a loss of 1.8 trillion won in the previous year. The profit, the first in five quarters for...

Cruise expects production start of its driverless vehicle Origin in early 2023

May 13, 2021 23:15 pm UTC| Economy Business

Cruise expects production of its driverless shuttle called the Origin to begin in early 2023, according to CEO Dan Ammann. The Origin is the Cruises first vehicle designed to operate without a driver. Thus, it does...

PayPal to acquire merchandise return firm Happy Returns

May 13, 2021 23:12 pm UTC| Business Economy

PayPal is acquiring start-up Happy Returns for an undisclosed amount to mark another venture in e-commerce as it moves beyond payments. The 120-person Santa Monica-based Happy Returns deals with returning things bought...

Frito-Lay's recall of Ruffles chips reaches 9 states

May 13, 2021 23:06 pm UTC| Economy Business

Frito-Lay has issued a voluntary recall for 16 ⅛ ounce bags of its Ruffles All Dressed Potato Chips for the potential presence of undeclared milk ingredients, which poses a threat to those with a dairy allergy or...

Memphis Meats changes name to Upside Foods as it prepares to roll out lab-grown chicken

May 13, 2021 23:06 pm UTC| Economy Business

Memphis Meats has changed its name to Upside Foods as it prepares to bring its cell-cultured chicken product to market by the end of this year. The product is pending regulatory approval. That would likely be the first...

Bitcoin plunges 12% after Tesla announced it would refuse it as payment

May 13, 2021 23:02 pm UTC| Economy Business

The price of bitcoin plunged around 12 percent early Thursday morning to about $50,900 after Tesla CEO Elon Musk announced that his company was abandoning plans to accept the cryptocurrency as payment for electric...

Real estate investors in S. Korea shift towards logistics clusters, and away from Seoul

May 13, 2021 22:56 pm UTC| Economy Business

Real estate investors searching for deals in South Korea were seen shifting from Seoul to logistics cluster cities such as Incheon and Yongin in the first quarter of 2021 due to changing investor preferences during the...

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Economy

Gold Prices Dip Ahead of Fed Decision Amid Rising Middle East Tensions

Gold prices slipped on Wednesday as investors weighed ongoing geopolitical risks in the Middle East alongside expectations surrounding the Federal Reserves upcoming interest rate decision. Spot gold declined by 0.5% to...

Kevin Warsh Advances Toward Fed Chair Role Amid Political Tensions

Kevin Warsh, former Federal Reserve governor and U.S. President Donald Trumps nominee to lead the Federal Reserve, is expected to clear a critical step in the confirmation process as the Senate Banking Committee prepares...

Trump Urges Iran to Sign Nuclear Deal Amid Ongoing Conflict and Port Blockade

U.S. President Donald Trump has intensified pressure on Iran, urging its leadership to get smart soon and agree to a deal as tensions remain high following weeks of stalled negotiations. In a recent Truth Social post,...

Asian Markets Mixed as Fed Decision, Iran Tensions, and Inflation Data Weigh on Sentiment

Asian stock markets showed mixed performance on Wednesday as investors remained cautious ahead of the U.S. Federal Reserves policy decision and ongoing geopolitical tensions between the United States and Iran. Market...

Trump Signals Prolonged Blockade Strategy Against Iran Amid Rising Tensions

U.S. President Donald Trump has reportedly directed his advisers to prepare for a long-term blockade of Iran, marking a strategic shift toward sustained economic pressure as Washington evaluates its next moves in the...

Politics

King Charles Reaffirms UK-US Alliance Amid Global Tensions

King Charles III delivered a historic speech to the U.S. Congress, emphasizing the enduring strength of the UK-US alliance during a period marked by geopolitical uncertainty and strained relations. Addressing lawmakers,...

White House Defends Trump’s FIFA Peace Prize Amid Global Criticism

The White House has strongly defended the decision to award U.S. President Donald Trump the inaugural FIFA Peace Prize, pushing back against growing criticism from human rights organizations, athletes, and international...

Trump Meets King Charles: “Two Kings” Moment Sparks Debate on Presidential Power

U.S. President Donald Trump drew attention during a White House event welcoming King Charles and Queen Camilla, making remarks that blended history, symbolism, and political messaging. Reflecting on the shared heritage of...

U.S. Envoy Julie Davis to Retire Amid Ukraine War Diplomacy Challenges

Acting U.S. Ambassador to Ukraine Julie Davis is set to step down from her role in Kyiv and retire from the State Department in June 2026, according to U.S. officials. Her departure comes at a critical moment, as...

Trump-Iran Conflict Escalates as Nuclear Talks Stall and Oil Prices Surge

Efforts to resolve the ongoing Iran conflict have reached a critical deadlock, with U.S. President Donald Trump rejecting Tehrans latest proposal aimed at ending the two-month war. The geopolitical tensions between the...

Science

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...

NASA Artemis II: First Crewed Moon Mission Since Apollo Takes Four Astronauts on 10-Day Lunar Journey

NASAs Artemis II mission launched Wednesday, marking humanitys return to crewed lunar exploration for the first time since the Apollo era. Carrying four astronauts aboard the Orion spacecraft, this historic 10-day mission...

NASA's Artemis II Mission: First Crewed Lunar Journey Since Apollo

NASA's Artemis II Crew Arrives in Florida for Historic Moon Mission

The four astronauts chosen for NASAs Artemis II mission have touched down at Kennedy Space Center in Florida, marking the beginning of final launch preparations for the first crewed lunar journey in over 50 years. NASA...

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...

Technology

TSMC Exits Arm Holdings with $231 Million Share Sale Amid Strategic Portfolio Shift

Taiwan Semiconductor Manufacturing Company (TSMC), the worlds leading contract chipmaker, has officially divested its remaining stake in Arm Holdings, marking the end of its investment in the UK-based chip designer....

T-Mobile Beats Q1 Earnings Expectations on Strong Postpaid Growth

T-Mobile US Inc. (NASDAQ: TMUS) delivered a strong first-quarter performance, surpassing analyst expectations thanks to robust postpaid subscriber growth and rising service revenues. The wireless carrier reported adjusted...

Seagate Stock Surges After Strong Q3 Earnings Beat and Bullish Outlook

Seagate Technology PLC (NASDAQ: STX) delivered impressive third-quarter results that surpassed Wall Street expectations, driving a sharp rise in its stock price. The data storage leader reported adjusted earnings per share...

Australia Targets Meta, Google, and TikTok With New News Payment Tax Proposal

The Australian government has announced a new plan that could impose multimillion-dollar charges on major tech platforms like Meta, Google, and TikTok if they fail to compensate local media companies for news content...

Lightelligence IPO Soars Over 400% in Hong Kong Debut Amid Rising AI Investment Demand

Shares of Lightelligence, the Shanghai-based optical computing company formerly known as Shanghai Xizhi Technology, delivered an explosive performance during their Hong Kong stock market debut, underscoring strong investor...