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Hyundai Motor, Kakao Mobility partner to launch self-driving taxi service

Sep 20, 2022 07:31 am UTC| Business Economy

Hyundai Motor Group and Kakao Mobility have recently signed a memorandum of understanding (MOU) to launch a taxi-hailing service using a self-driving vehicle. The companies revealed on Monday, Sept. 19, that they will...

Volkswagen eyes €70-75 billion valuation in Porsche IPO

Sep 19, 2022 21:45 pm UTC| Business Economy Investing

Volkswagen is targeting a valuation of up to 75 billion euros for luxury sportscar maker Porsche, in what could possibly be Germanys second-largest IPO in history and Europes third-largest. The German carmaker will...

S. Korean carmakers' global market share dips to 7.7% in Q1

Sep 19, 2022 21:39 pm UTC| Business Economy Investing

South Korean carmakers sold 2.1 million units in eight major markets in the first half, down 9.9 percent from 2.33 million units in the same period last year, to dip its global market share to 7.7 percent. Their market...

PayPal may cut ties with Phoenix Suns if Robert Sarver returns

Sep 19, 2022 09:55 am UTC| Business Economy

PayPal Holdings Inc. revealed it would terminate its sponsorship contract with Phoenix Suns if its team owner, Rober Sarver, returns to the organization after a year of suspension. The financial technology firm said it...

Kimchi supply slows down due to cabbage shortage in South Korea

Sep 19, 2022 09:48 am UTC| Business Economy

Kimchi is a traditional side dish in South Korea and is traditionally made with salted and fermented vegetables such as napa cabbage. There is usually an endless supply of this side dish in the country but it seems that...

PS VR2 will not support games from the first PS VR ‘to deliver a truly next-generation experience’

Sep 19, 2022 09:47 am UTC| Technology Business

Fans of virtual reality gaming who own the first PlayStation VR headset will have to shelve their existing games if they plan on getting the PS VR2. Sony confirmed that the older titles would not work on the upcoming...

Bristol Myers, AbbVie biopharma firms to slash hundreds of jobs in California

Sep 19, 2022 09:47 am UTC| Business Economy

Bristol Myers and AbbVie are reportedly planning to terminate some of their staff in California. The job cuts will be the latest in a string of layoffs in the biopharma industry in the United States. As per Reuters, a...

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Economy

US Stock Futures Mixed as Fed Rate Hike Bets Fade, AI Deals in Focus

U.S. stock futures traded mixed Monday as investors reassessed the Federal Reserve interest rate outlook and prepared for major retail earnings, while developments involving Anthropic, Nvidia and the Strait of Hormuz also...

European Stocks Edge Higher as Fed Rate Pause Bets Rise

European equities moved modestly higher on Monday as falling government bond yields and a weaker U.S. dollar supported investor sentiment. Markets are increasingly betting that the Federal Reserve will keep interest rates...

US Dollar Slips as Soft Economic Data Eases Fed Rate Hike Expectations

The U.S. dollar weakened on Monday as softer economic indicators reduced expectations that the Federal Reserve will raise interest rates again in the near term, while the Japanese yen gained modestly despite disappointing...

Malaysia Inflation Eases to 1.8% in July, Below Forecast

Malaysias inflation rate moderated slightly in July, with consumer prices rising 1.8% from a year earlier, according to government data released on Monday. The latest increase in Malaysias Consumer Price Index (CPI) came...

BSP Sees Philippine Inflation Easing, Keeps Policy Options Open

The Bangko Sentral ng Pilipinas (BSP) expects inflation in the Philippines to gradually ease over the medium term, although risks to consumer prices remain tilted to the upside, central bank Governor Eli Remolona said on...

Politics

Russia-Ukraine Drone Attacks Escalate as Strikes Hit Moscow, Kyiv and Romania

Russia and Ukraine exchanged major missile and drone attacks overnight, leaving several people dead and damaging industrial and commercial facilities as the war continues to intensify. Russian forces struck ArcelorMittal...

US CENTCOM Chief Praises USS Abraham Lincoln Crew Amid Mental Health Concerns

U.S. Central Command chief Admiral Brad Cooper praised the crew of the USS Abraham Lincoln following a recent visit to the aircraft carrier, describing their performance and resilience as awe-inspiring amid growing...

Lula Targets Brazil’s Gig Workers as Reelection Battle Takes Shape

Brazilian President Luiz Inácio Lula da Silva launched his final reelection campaign on Sunday in Sao Bernardo do Campo, returning to the stadium where his rise as a labor leader began nearly five decades ago....

Trump Envoys Hold Gaza Peace Talks in Cairo as Israeli Strikes Continue

U.S. President Donald Trumps envoys held talks with Egyptian, Qatari and Turkish mediators in Cairo on Sunday as diplomatic efforts intensified to advance Washingtons Gaza peace plan while Israeli airstrikes continued...

Migrants in Spain’s Ceuta Protest for Asylum, Refuse Return to Morocco

Hundreds of migrants in Spains North African enclave of Ceuta gathered on a popular urban beach on Sunday, calling on Spanish authorities to grant them asylum rather than return them to Morocco. The protesters are among an...

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 Eyes First Australian Dollar Bond as AI Spending Drives Funding Push

Alphabet, the parent company of Google, is preparing for its first-ever Australian dollar bond issuance as the U.S. technology giant explores new funding sources amid rapidly rising artificial intelligence investment. The...

Alibaba Sells Lingxi Games for Over $1.5 Billion Amid AI Push

Alibaba Group is reportedly selling its gaming subsidiary Lingxi Games in a transaction that could value the Chinese video game studio at more than $1.5 billion, as the technology giant redirects resources toward...

Nvidia’s $500 Billion AI Infrastructure Push Wins Morgan Stanley Support

Nvidia is doubling down on the artificial intelligence infrastructure boom with a plan to help mobilize as much as $500 billion in third-party capital, drawing participation from major financial firms including Apollo,...

Alphabet Shifts AI Strategy Toward Commercial Growth, Goldman Sachs Says

Alphabet is increasingly shifting its artificial intelligence strategy toward commercialization, scale and long-term revenue growth, according to Goldman Sachs analysts. The investment bank said recent management changes,...

Nvidia Eyes $3 Billion Investment in SoftBank-Backed AI Data Center

Nvidia is reportedly in discussions to invest up to $3 billion in SB Energy, a SoftBank Group-backed company developing a major AI data center campus in Ohio for OpenAI. According to a report by The Information, the...