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General Motors warns Indian state that blocking its exit could hit future investment

Jan 24, 2021 15:15 pm UTC| Economy Business

American automaker General Motors (GM) warned that the Maharashtra governments move to block it from shutting a plant and exiting India may alarm potential investors. Earlier this week, the state of Maharashtra rejected...

Volkswagen may sue suppliers Bosch and Continental over chip shortages

Jan 24, 2021 14:44 pm UTC| Economy Business

German car manufacturer Volkswagen may sue its suppliers Bosch and Continental for damages due to a lack of semiconductors that shut its assembly lines. Volkswagen is reportedly in talks with alternative semiconductor...

Tesla: Elon Musk’s company sues a newly-hired engineer for allegedly stealing thousands of confidential documents

Jan 24, 2021 14:26 pm UTC| Business

Tesla is taking legal action against one of its engineers after accusing him of stealing important company documents. It was said that the man was newly-hired and has been working for Elon Musks company for mere two weeks,...

UK advising firms to set up hubs in EU to avoid trade disruption

Jan 24, 2021 14:13 pm UTC| Economy Business

UK is encouraging its firms who are exporting to the EU to set up subsidiaries in the bloc to avoid disruption under new trade rules, even if it means moving investment out of the country. Firms have been hit by extra...

Uber to sack 185 Postmates workers after it acquired the food delivery app

Jan 24, 2021 14:01 pm UTC| Business

Uber reportedly dismissed more than 180 employees, and most of them work in its Postmates division. This figure is around 15% of the total workforce of the local delivery company that was acquired by Uber in December last...

Godiva Chocolatier succumbs to COVID-19 and will shut down 128 stores in North America

Jan 24, 2021 12:35 pm UTC| Business

Godiva is one of the most well-known chocolate brands in the world, and it was reported that it decided to close down all of its 128 stores in North America. The chocolatier blamed the COVID-19 pandemic for what has become...

Ford to lose $610M after the NHSTA ordered a recall and replacement of airbags in 3 million vehicles

Jan 24, 2021 11:56 am UTC| Business

Ford will be losing money after the National Highway Traffic Safety Administration rejected its appeal in the airbag recall order. The NHTSA has been asked to recall three million vehicles earlier this month for the...

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Economy

Gold Holds Near Two-Month High as Treasury Yields Fall

Gold prices remained close to a more than two-month high on Thursday as falling U.S. Treasury yields, a softer dollar and expectations for easier financial conditions boosted demand for the precious metal. Spot gold...

Oil Prices Rise as Trump Threatens Tougher Iran Economic Measures

Oil prices climbed on Thursday, extending their winning streak to five sessions as escalating tensions between the United States and Iran heightened concerns over global crude supply. Brent crude futures gained 0.3% to...

Australia Unemployment Rate Hits 4.5% as Jobs Fall in July

Australias unemployment rate climbed to 4.5% in July, signaling further weakness in the labor market and potentially influencing the Reserve Bank of Australias (RBA) interest rate decision at its September meeting....

Japan Trade Deficit Widens as Imports Surge on Energy and AI Demand

Japan recorded a trade deficit of 634.58 billion yen ($4.01 billion) in July as strong export growth was outweighed by an even sharper rise in imports, according to data from the Ministry of Finance. The July trade deficit...

Asian Currencies Steady as Dollar Weakens After Treasury Bond Buybacks

Asian currencies stabilized on Thursday following strong gains in the previous session, while the U.S. dollar remained under pressure as investors assessed Washingtons efforts to ease volatility in the Treasury bond...

Politics

South Korea Estimates North Korea Has Up to 120 Nuclear Warheads

South Korea estimates that North Korea may possess between 80 and 120 nuclear warheads, Defence Minister Ahn Gyu-back said Thursday, offering a significantly higher range than U.S. President Donald Trumps recent figure of...

Australia Summons Israeli Ambassador Over Gaza Aid Worker Death

Australia has summoned Israels ambassador and condemned the Israeli militarys decision not to pursue criminal proceedings over the 2024 Gaza airstrike that killed Australian aid worker Zomi Frankcom and six of her World...

Trump Threatens Economic Penalties on Countries Supporting Iran

U.S. President Donald Trump has threatened sweeping economic consequences against countries providing what he described as a lifeline to Iran, escalating pressure nearly six months into the U.S.-Israel war with Tehran. The...

Russia Strikes Kyiv With Drones and Airstrikes, Targets Military Facilities

Russia launched a series of airstrikes and drone attacks on Kyiv and the surrounding region, targeting military and logistics facilities, according to the Russian Defence Ministry. In a statement published on Telegram, the...

Trump Threatens ‘Crushing’ Iran Sanctions as Hormuz Standoff Deepens

U.S. President Donald Trump said Wednesday evening that Washington is preparing tougher economic restrictions on Iran as tensions between the two countries continue over the Strait of Hormuz. Trump warned that countries...

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

Samsung Eyes $72 Billion Shareholder Return Plan as AI Chip Boom Fuels Profits

Samsung Electronics is reportedly preparing a new shareholder return policy worth more than 100 trillion won ($71.75 billion), as booming demand for artificial intelligence chips drives expectations of record profits at...

SK Hynix Shares Surge on Record $28.6 Billion Buyback

SK Hynix shares staged a strong rebound on Thursday after the South Korean memory-chip giant announced a record 40 trillion won ($28.6 billion) share buyback and cancellation plan, providing fresh confidence to investors...

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...