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China's Great Wall Motors to invest 542.26 million in Russian plant upgrade

Sep 30, 2020 18:21 pm UTC| Business

Great Wall Motors will spend $542.26 million to upgrade its Russian plant under a special investment contract with the Russian Ministry of Industry and Trade. The contract is designed to stimulate large companies to...

Hong Kong's Lenovo to build manufacturing plant in Hungary

Sep 30, 2020 17:13 pm UTC| Business

Hong Kong-based technology firm Lenovo Group will build a $26.3 million manufacturing facility in Hungary create 1,000 jobs and introduce advanced technological solutions, says the countrys Minister of Foreign Affairs and...

Shell to cut 9,000 jobs to save on cost, achieve net-zero emissions

Sep 30, 2020 16:06 pm UTC| Business

Royal Dutch Shell will cut 7,000 to 9,000 jobs worldwide by 2022 due to the COVID-19-induced collapse in global oil demand. Shell CEO Ben van Beurden described the job cuts as the right thing with the company striving...

Rakuten's $28 per month 5G service to intensify price war with rivals

Sep 30, 2020 15:48 pm UTC| Business

Rakuten Inc. will start offering unlimited data services using ultrafast 5G networks for $28 per month Wednesday, following Prime Minister Yoshihide Suga requests for mobile phone service operators to reduce prices. The...

General Atlantic to invest $498.31 million in India's Reliance Retail

Sep 30, 2020 15:38 pm UTC| Business

US Private equity firm General Atlantics $498.31 million investment for a 0.84% stake in the retail arm of Indias Reliance Industries boosted the latters shares by as much as one percent to $30.83. Reliance, which is...

US resumes importation of UK beef after 24 years

Sep 30, 2020 15:19 pm UTC| Business

British beef is back on US tables with shipment restarting on Wednesday after being banned beginning 1996 due to Mad Cow Disease infection. Those from Northern Irelands Foyle Food Group will be the first to be...

Disney to lay off about 28,000 parks employees due to pandemic's impact

Sep 29, 2020 23:53 pm UTC| Business

Walt Disney Co. will lay off about 28,000 American employees in its theme parks division, as it struggled with pandemic-triggered limited attendance and the continued closure of its parks in California. About two-thirds...

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Economy

Iran Begins Oil Sale Talks With Japan Under U.S. Sanctions Waiver Amid Shipping Risks

Iran has opened preliminary discussions with Japanese companies about resuming crude oil exports under a temporary U.S. sanctions waiver, although potential buyers are seeking a longer exemption and stronger assurances...

Russia Stocks End Flat at Three-Year Low as MOEX Index Stalls, Gold Prices Climb

Russian stocks closed mixed on Sunday, with the benchmark MOEX Russia Index finishing unchanged at 0.00% while remaining at its lowest level in three years. Despite the flat performance of the overall index, individual...

Goldman Sachs Raises USD/JPY Forecast, Sees Yen Weakness Persist Through 2027

Goldman Sachs has raised its USD/JPY exchange rate forecasts, predicting the Japanese yen will remain under pressure as elevated U.S. Treasury yields, limited recession risks in the United States, Japans fiscal concerns,...

Asian Currencies Rise as Dollar Weakens; Yen Holds Steady Amid Japan Intervention Watch

Most Asian currencies edged higher on Friday after the U.S. dollar retreated from a 13-month high following weaker-than-expected U.S. nonfarm payrolls data, raising fresh questions about the Federal Reserves interest rate...

Asian Stocks Rebound as Tech Shares Rally on Fed Rate Cut Hopes and Easing Iran Tensions

Asian stock markets rebounded sharply on Friday as investors returned to technology shares following a week of heavy selling, while easing geopolitical tensions and growing expectations of Federal Reserve interest rate...

Politics

Trump to Meet Zelenskiy at NATO Summit in Turkey to Push Ukraine Peace Efforts

U.S. President Donald Trump is set to meet Ukrainian President Volodymyr Zelenskiy during this weeks NATO summit in Turkey as part of a renewed diplomatic effort to end the war in Ukraine, according to a senior U.S....

Israel Cabinet Rejects Supreme Court Ruling, Sparking Constitutional Crisis Fears

Israels cabinet has voted to reject a Supreme Court ruling involving the countrys broadcast regulator, triggering fresh concerns over a potential constitutional crisis and deepening tensions between Prime Minister Benjamin...

Israeli Airstrike Kills Two in Gaza City as Ceasefire Violations and Truce Talks Persist

At least two Palestinians were killed and several others were wounded in an Israeli airstrike in central Gaza City on Sunday, according to Palestinian health officials, as violence continued despite an October ceasefire...

Khamenei Funeral Draws Massive Crowds as Iran’s New Supreme Leader Remains Absent

Iran continued its week-long funeral ceremonies on Sunday for slain Supreme Leader Ayatollah Ali Khamenei, with tens of thousands of mourners gathering in Tehran while his successor, Supreme Leader Mojtaba Khamenei,...

Michigan Senate Race Narrows as Mallory McMorrow Ends Democratic Campaign

Michigan State Senator Mallory McMorrow has suspended her Democratic campaign for the U.S. Senate, reshaping the partys primary contest into a two-candidate race in one of the countrys most closely watched battleground...

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

Meta Cloud Ambitions Could Challenge AWS, Azure, and Google Cloud, Says Morgan Stanley

Meta Platforms (NASDAQ: META) is preparing to expand into the cloud computing market, a move that could position the company as a future rival to Amazon Web Services (AWS), Microsoft Azure, and Google Cloud. According to...

Anthropic Tightens AI Access Controls After Reports of China-Based Workarounds

Anthropic is strengthening measures to prevent unauthorized access to its artificial intelligence services from China after discovering that several Chinese companies had allegedly bypassed its restrictions, according to a...

Kuaishou Stock Jumps as Kling AI Secures $2 Billion Funding Round

Hong Kong-listed shares of Kuaishou Technology (HK:1024) climbed more than 6% on Thursday after its spun-off artificial intelligence business, Kling AI, secured an initial $2 billion in venture capital funding to...

Meta CEO Zuckerberg Says AI Agent Development Has Slowed Despite Massive AI Investment

Meta Platforms (NASDAQ: META) CEO Mark Zuckerberg has acknowledged that the companys progress in developing artificial intelligence (AI) agents has been slower than expected, despite Metas aggressive investment in AI...

Kioxia Bets on AI Memory Boom With Next-Gen NAND Production in Japan

Kioxia is set to mark a major milestone on Friday with a ceremony at its manufacturing facility in northern Japan as the company prepares to begin mass production of its next-generation NAND flash memory chips. The move...