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Apple to face lawsuit for $74 billion investor losses after concealing plunging sales in China

Nov 07, 2020 19:01 pm UTC| Business

A class-action lawsuit by shareholders is awaiting Apple Inc. for Chief Executive Tim Cooks concealment of falling demand for iPhones in China, resulting in $74 billion in investor losses. US District Judge Yvonne...

Over half a million Australians demand probe into Rupert Murdoch's media empire

Nov 06, 2020 09:53 am UTC| Business

Over 500,000 Australians petitioned the parliament to conduct an inquiry into Rupert Murdochs News Corporation, which threatens media diversity and encourages deliberate polarizing and politically manipulating news. The...

US govt blocking Visa's anti-competitive acquisition of Plaid

Nov 06, 2020 09:42 am UTC| Business

The US government sued to block Visa Inc.s $5.3 billion acquisition of financial technology company Plaid for being anti-competitive. Plaid is a financial technology firm with access to financial data from over 11,000...

BMW Q3 profit up 9.6% on Chinese demand for luxury cars

Nov 06, 2020 09:29 am UTC| Business

BMWs third-quarter pretax profit rose 9.6 percent to $2.87 billion, mainly due to rebounding Chinese demand for luxury cars. The German automaker enjoyed a 9.8 percent increase in deliveries of its vehicles during the...

Kakao's Q3 net almost triples to 143.7 billion won

Nov 06, 2020 02:26 am UTC| Business

Kakao Corp.s third-quarter net profit reached 143.7 billion won, rising nearly three times from its 51.1 billion won a year earlier and surpassing a FactSet forecast of 88.99 billion won. The company attributed its...

SsangYong hopes new Rexton SUV would boost sales in S. Korea

Nov 05, 2020 23:00 pm UTC| Business

SsangYong Motor Co. launched the all-new Rexton SUV in South Korea, priced at 37 million won to 50 million won, to boost sales amid the pandemic. The new 2.0-liter diesel engine-equipped SUV with an eight-speed...

Nongshim expects record overseas sales of instant noodles this year

Nov 05, 2020 22:34 pm UTC| Business

Nongshim Co. expects to post record instant noodles overseas sales of US$990 million this year, up 24 percent from last year, due to strong pandemic-triggered demand. According to South Koreas top instant noodle maker,...

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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...