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Renault Samsung closes down factory amid the continued union strikes

May 05, 2021 08:11 am UTC| Business Economy

Renault Samsung temporarily closed its production plant and warned workers of restructuring. The move comes after the union, and the company management failed to resolve their conflicts regarding wage hikes. Renault...

Daewoong Pharma’s Nabota: US ITC scraps import ban on botulinum toxin products

May 05, 2021 07:42 am UTC| Business Economy

Daewoongs Nabota was banned by the U.S. International Trade Commission late last year. The agency imposed a 21-month import and sale ban on the South Korean companys botulinum toxin product brand. The prohibition...

Burger King rolls out eco-friendly packaging on restaurant outlets

May 05, 2021 07:06 am UTC| Business Economy

Burger King is testing eco-friendly packaging options in its restaurant outlets in its effort to go green and help reduce waste and keep the environment safe. The experimental packaging will be green makeover and will...

Skittles: Mars Wrigley files trademark infringement complaint against cannabis seed company over Zkittlez product

May 05, 2021 05:37 am UTC| Business Economy

Mars Wrigley, the company that makes Skittles, sued Terphogz for trademark infringement. The latter has been selling a THC-infused product that it named Zkittlez, and this is where the problem lies. As per CNBC,...

Lavazza to begin roasting and grinding coffee in the US

May 04, 2021 17:01 pm UTC| Economy Business

Lavazza North America has begun the construction of its first roasting and packing plant in the US and should be open in October 2021. The plant will add 1,000 square feet to the 18,000 square foot Lavazza Professional...

Ever Given shipowner asks cargo owners to share Suez damage cost

May 04, 2021 12:05 pm UTC| Economy Business

Shoei Kisen Kaisha Ltd., the Japanese owner of the container ship Ever Given, is asking owners of the onboard freight to share the cost of the damages demanded by Egyptian authorities. The Ever Given blocked the Suez...

Cambodia's durian farmers, traders worry about selling during lockdowns

May 04, 2021 11:24 am UTC| Economy Business

Cambodian durian farmers and traders are voicing out concerns on how to bring their products to the market, with Phnom Penh and Takmao imposing restrictions. Durian yields are traditionally brought to the market from...

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Economy

Trump Eyes 15% Tariff on Canadian Auto Imports in New Trade Deal

The Trump administration is reportedly considering cutting tariffs on Canadian automobile imports to 15% from 25% as part of a broader U.S.-Canada trade agreement. In exchange, Canada would remove retaliatory trade...

US Treasury Doubles Long-Term Bond Buybacks as Yields Surge

The U.S. Treasury has doubled planned buybacks of long-duration government bonds in an effort to improve market liquidity after a sharp Treasury selloff pushed borrowing costs to multi-year highs. Under the revised...

Fed Minutes Signal Rate Hikes Remain Possible as Inflation Risks Persist

Federal Reserve officials indicated that additional interest rate hikes could be necessary if inflation fails to ease, according to minutes from the central banks July Federal Open Market Committee (FOMC) meeting. The Fed...

US Dollar Hits Three-Month Low as Treasury Yields Fall

The U.S. dollar dropped to its weakest level in more than three months on Wednesday as falling Treasury yields pressured the greenback, while investors assessed the Federal Reserves latest signals on inflation and interest...

Gold Tops $4,500 as Dollar Slides After Treasury Bond Move

Gold prices surged on Wednesday, breaking above $4,500 an ounce for the first time since early June as falling U.S. Treasury yields pressured the dollar and boosted demand for the precious metal. Spot gold climbed 4% to...

Politics

Prince Harry and Meghan Markle Reportedly Plan UK Move With Children

Prince Harry and Meghan Markle are reportedly preparing to relocate to Britain with their two children this month, marking a significant return to the UK six years after the couple stepped back from their roles as senior...

Ukraine Names Yevhenii Khmara Defence Minister Amid Election Row

Ukrainian lawmakers appointed Yevhenii Khmara as the countrys new defence minister on Wednesday, deepening a major political shake-up as President Volodymyr Zelenskiy faces pressure over wartime elections and a fresh...

Trump Administration Allocates $206 Million for Gaza Peacekeeping Force

President Donald Trumps administration is allocating more than $206 million to support a proposed Gaza peacekeeping force, marking the first major U.S. financial commitment to its stalled Gaza reconstruction and security...

Israel, Syria Discuss Turkey’s Military Presence Before Airstrike

Israels Mossad chief Roman Gofman held a rare phone call with Syrian Foreign Minister Asaad al-Shaibani on August 14, with Turkeys growing military presence in Syria dominating the discussion, according to three people...

UN Chief Raises Concern Over US Sanctions on ICC Officials

United Nations Secretary-General Antonio Guterres has expressed serious concern over the United States decision to impose sanctions on International Criminal Court President Tomoko Akane and senior trial lawyer Abdoulaye...

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

OpenAI Revenue Rises 18% in Q2 as Losses Widen and Anthropic Surges Ahead

OpenAI reported an 18% increase in second-quarter revenue, but widening losses and rapid growth at rival Anthropic are adding pressure on the ChatGPT maker, according to The Wall Street Journal. OpenAI told investors that...

Unitree Robotics Shares Soar Over 600% in Shanghai Market Debut

Unitree Robotics shares skyrocketed in their Shanghai stock market debut on Wednesday, highlighting surging investor interest in Chinas robotics and artificial intelligence sectors. The Chinese humanoid robot maker saw its...

Goldman Sachs Names 9 Top Japanese Semiconductor and Electronics Stocks

Goldman Sachs has identified nine Japanese semiconductor and electronic components stocks it believes are well positioned for growth, particularly as artificial intelligence and data center demand accelerates. The bank...

Baidu Shares Sink to One-Year Low as Ad Weakness Overshadows AI Growth

Baidu shares plunged to a near one-year low on Wednesday after the Chinese technology giant reported weaker-than-expected second-quarter results, as declining advertising revenue overshadowed strong growth across its...

OpenAI Tightens AI Safety Monitoring After Security Incidents

OpenAI is strengthening oversight of its most advanced artificial intelligence models as the company works to prevent unexpected or potentially dangerous behavior from increasingly autonomous AI systems. The ChatGPT...