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China's Ambassador Labels EU Probe into Chinese Electric Vehicle Manufacturers as 'Unfair'

Jan 24, 2024 03:47 am UTC| Business

Chinas ambassador to the European Union is calling the EUs investigation into Chinese electric vehicle manufacturers over state subsidies unfair. In an interview with Bloomberg News, Fu Cong expressed his discontent with...

eBay Announces Job Cuts on Full-Time Positions, To Taper Existing Contracts

Jan 24, 2024 02:49 am UTC| Business

eBay Inc., an American e-commerce giant, is set to slash 1,000 jobs, or nine percent of its full-time employees. The company confirmed the layoffs on Tuesday, Jan. 23. In February of last year, eBay disclosed its plans...

Boeing CEO to Discuss 737 MAX Blowout and Grounding with US Senators

Jan 24, 2024 02:42 am UTC| Business

Boeing CEO Dave Calhoun is scheduled to meet with U.S. senators this week to discuss the grounding of the 737 MAX 9. The meeting comes as United Airlines executives raise concerns regarding billions of dollars of orders...

SAP Reveals Restructuring Plan, Job Changes As It Pushes Towards AI

Jan 24, 2024 01:53 am UTC| Business

SAP SE, a German software company, announced it is restructuring, and this plan will also cover job changes for its 8,000 employees so the organization can focus more on AI-related business areas. The company also provided...

Netflix Blows Past Subscriber Estimates in Q4, Adding 13.1 Million Subscribers

Jan 24, 2024 01:28 am UTC| Business

Netflix exceeded Wall Street expectations in the fourth quarter with a substantial increase in subscribers. Bolstered by popular shows like The Crown and original films like The Killer, the streaming giant reported an...

Scandinavian Airlines Forecasts Revenue to Exceed $4.57 Billion by 2024, Aims to Exit Chapter 11

Jan 24, 2024 01:23 am UTC| Business

Scandinavian Airlines (SAS), Scandinavias largest carrier, announced on Tuesday that its forecasted revenue will exceed 48 billion Swedish crowns ($4.57 billion) in 2024. The airline, which recently filed for Chapter 11...

Netflix's Film Chief Scott Stuber Departs to Launch Own Venture

Jan 23, 2024 10:39 am UTC| Business

Netflix Inc. is set to lose its chief of film, Scott Stuber, as he revealed this departure plans to start his own company. He will be leaving the worlds leading streaming service provider, and this was confirmed on Monday,...

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Economy

Gold Prices Rise as Weak US Retail Sales Cut Fed Rate Hike Bets

Gold prices edged higher on Friday and headed for a weekly gain as weaker-than-expected U.S. retail sales further reduced expectations for a Federal Reserve interest rate hike in September. Spot gold rose 0.5% to $4,374.30...

S&P 500 Retreats From Record High as AI Stocks Slide, Retail Sales Disappoint

The SP 500 closed lower on Friday, retreating from its latest record high as weakness in AI-related stocks and disappointing U.S. retail sales weighed on investor sentiment. The SP 500 fell 0.17% to 7,785.76, while the...

Trump Imposes New Tariffs on Drone Imports Over US Security Concerns

President Donald Trump has announced new tariffs on imported drones and drone components, citing national security concerns and the United States heavy dependence on foreign suppliers. Under a proclamation signed by Trump,...

Strait of Hormuz Shipping Near Standstill After New Vessel Attacks

Shipping through the Strait of Hormuz slowed to a near standstill on Friday after two more vessels were attacked, while the United States signaled it could maintain its naval blockade of Iran indefinitely. The disruption...

US Dollar Slips as Weak Retail Sales Reduce Fed Rate Hike Bets

The U.S. dollar edged lower on Friday as weaker economic data prompted traders to scale back expectations for another Federal Reserve rate hike. Despite the decline, the greenback was poised to end a two-week losing streak...

Politics

US Presses Netanyahu to Condemn West Bank Settler Siege

The United States is urging Israeli Prime Minister Benjamin Netanyahu to publicly condemn militant Israeli settlers accused of besieging Palestinian families in Qusra, a village in the occupied West Bank, according to U.S....

Haftar Helps Broker Release of American Hostage Held by ISIS Affiliate

Libyan military commander Khalifa Haftar helped broker the release of an American hostage held by an Islamic State affiliate in West Africas Sahel region, according to four sources familiar with the negotiations. Kevin...

Israeli Troops Enter Palestinian Homes as Settler Siege Grips West Bank Village

Israeli troops took positions inside Palestinian homes in the occupied West Bank village of Qusra on Thursday as a settler siege left families trapped without electricity or water, according to the village mayor and...

Jared Kushner May Visit Israel for Gaza Talks Next Week

U.S. President Donald Trumps envoy and son-in-law, Jared Kushner, could travel to Israel next week for talks aimed at advancing the administrations Gaza peace plan, according to a source familiar with the matter. Axios...

Albanese Says AUKUS ‘Full Steam Ahead’ After Trump Call

Australian Prime Minister Anthony Albanese said the AUKUS defence pact remains full steam ahead following a lengthy phone call with U.S. President Donald Trump, as Canberra also pushes Washington for a complete exemption...

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

Alphabet’s SpaceX Investment Soars 100-Fold to $94 Billion

Alphabets early investment in SpaceX has delivered extraordinary returns, with the Google parents stake valued at roughly $94.2 billion at the end of June. The company originally invested $900 million in Elon Musks rocket...

Stripe, Advent Reportedly Pursue $53 Billion PayPal Takeover

Stripe and private equity firm Advent International reportedly offered to acquire PayPal for $60.50 per share in July, valuing the payments company at roughly $53 billion. PayPal rejected the proposal as too low, but...

J.P. Morgan Upgrades SanDisk, Sets $2,250 Price Target on AI NAND Growth

J.P. Morgan upgraded SanDisk to Overweight from Not Rated and set a December 2027 price target of $2,250, citing stronger long-term growth prospects following the flash memory companys 2026 Investor Day in New York....

Micron Stock Upgraded to Buy as New Street Sees $2 Trillion Valuation Potential

New Street Research has upgraded Micron Technology (NASDAQ: MU) to a Buy rating with a $1,250 price target, arguing that the semiconductor company is entering a fundamentally different memory cycle driven largely by...

Apple Develops China-Specific AI Model With Alibaba as Apple Intelligence Launch Nears

Apple Inc. (NASDAQ: AAPL) has reportedly developed a large language model specifically for China in collaboration with Alibaba (HK: 9988), signaling a significant shift in the iPhone makers artificial intelligence strategy...