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Stellantis cancels JV with China's GAC to file for bankruptcy

Nov 01, 2022 04:55 am UTC| Business Economy

Stellantis NV announced it has broken off its joint venture with Chinas Guangzhou Automobile Group Co. Ltd. (GAC). The Hoofddorp, Netherlands-headquartered automobile company, also said it would file for bankruptcy of its...

Hana Bank, Lotte E&C partner to launch asset management service for the elderly

Nov 01, 2022 04:28 am UTC| Business Economy

Hana Bank has signed a deal with Lotte Engineering Construction jointly launch an asset management company that will offer special services to the elderly or senior customers. The companies noted that the number of old...

Itaewon’s business revival fades with the Halloween tragedy

Nov 01, 2022 04:02 am UTC| Business Economy

Itaewon has been the center of news the past weekend as the Halloween festival celebration has turned deadly. In the latest report, more than 150 people were confirmed dead, and 26 of them were foreigners that include five...

Revlon mulls company sale amid bankruptcy

Nov 01, 2022 03:53 am UTC| Business Economy

Revlon Inc. revealed last week it is now considering the sale of the company while it is dealing with financial ruin. Bankruptcy lawyers said in court that the American cosmetics firm is connecting with possible buyers to...

New Balance to celebrate Coco Gauff deal extension with signature colorway

Oct 31, 2022 23:51 pm UTC| Sports Economy Business

Tennis Star Coco Gauff has inked a long-term extension for her first contract with New Balance, which she signed at age 14. To celebrate the extension, New Balance is launching a new colorway of 18-year-old Gauffs...

Jaguar Land Rover to use Wolfspeed's Silicon Carbide semiconductors

Oct 31, 2022 23:49 pm UTC| Nature Economy Business

Wolfspeed, Inc. has partnered to supply Silicon Carbide semiconductors to Jaguar Land Rovers next-generation electric vehicles. Wolfspeeds advanced Silicon Carbide technology will be used in the vehicles inverter,...

S. Korea to apply its APR1400 technology in helping build Polish nuclear power plant

Oct 31, 2022 23:43 pm UTC| Nature Economy Business

South Korea will help build a nuclear power plant in Patnow, Poland, which could be its first nuclear power plant export in over a decade. The state-run Korea Hydro Nuclear Power (KHNP) Co. signed a letter of intent...

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Economy

US Dollar Dips as Iran Rejects Ceasefire Amid Rising Middle East Tensions

The US dollar edged lower on Monday as geopolitical uncertainty intensified after Iran rejected a Pakistan-brokered ceasefire proposal, pushing the US Dollar Index down marginally to 99.98. The euro remained flat due to...

India's Central Bank Holds Rates Amid Iran War Energy Shock

Indias Reserve Bank of India (RBI) is widely expected to maintain its benchmark repo rate at 5.25% this Wednesday, as policymakers carefully monitor the economic ripple effects of the ongoing Iran war. The conflict has...

Oil Crisis Escalates: Trump Threatens Iran as Strait of Hormuz Closure Pushes Prices Above $110

Oil prices briefly surged past $110 per barrel on Monday after President Donald Trump escalated military and diplomatic pressure on Iran, demanding the reopening of the Strait of Hormuz by Tuesday evening or face strikes...

Asian Currencies Waver as Dollar Holds Firm Amid Middle East Tensions

Asian currencies struggled to find clear direction on Monday as the US dollar remained resilient, with investors carefully weighing escalating geopolitical risks in the Middle East against emerging ceasefire diplomacy. The...

Bank of Japan Warns of Regional Economic Risks Amid Middle East Conflict and Rising Oil Prices

The Bank of Japan has raised concerns about the potential deterioration of regional economies, citing escalating oil prices and supply chain disruptions linked to ongoing conflict in the Middle East. In its latest...

Politics

Iran-US War Tensions Escalate as Trump Sets Deadline for Strait of Hormuz Deal

Diplomatic tensions between Iran and the United States have reached a critical breaking point as President Donald Trump issued a firm Tuesday night deadline demanding Iran reopen the Strait of Hormuz a strategic waterway...

Hegseth Warns of Heaviest Strikes Yet as Trump Issues Iran Ultimatum Over Nuclear Deal

President Donald Trump escalated tensions with Iran on Monday, warning that the United States could launch devastating attacks on Iranian civilian infrastructure including power plants and bridges unless Tehran agrees to...

Trump's Iran Deadline Is Final: Nuclear Deal Talks at Critical Juncture

With tensions escalating rapidly in the Middle East, U.S. President Donald Trump declared Monday that his Tuesday deadline for Iran to reach a nuclear agreement is firm and unlikely to be pushed back. Speaking to reporters...

Indonesia Files Genocide Case Against Myanmar's Min Aung Hlaing Over Rohingya Crisis

A coalition of civil society organizations filed a landmark criminal complaint in Indonesia on Monday against Myanmars newly elected President Min Aung Hlaing, accusing him of committing genocide against the Rohingya...

Ukrainian Drone Strikes Hit Novorossiysk, Injuring Eight and Cutting Power Across Russia

At least eight people, including two children, were injured Monday after Ukrainian drones struck Novorossiysk, a major Russian Black Sea port city. Local authorities confirmed that several residential buildings sustained...

Science

NASA Artemis II: First Crewed Moon Mission Since Apollo Takes Four Astronauts on 10-Day Lunar Journey

NASAs Artemis II mission launched Wednesday, marking humanitys return to crewed lunar exploration for the first time since the Apollo era. Carrying four astronauts aboard the Orion spacecraft, this historic 10-day mission...

NASA's Artemis II Mission: First Crewed Lunar Journey Since Apollo

NASA's Artemis II Crew Arrives in Florida for Historic Moon Mission

The four astronauts chosen for NASAs Artemis II mission have touched down at Kennedy Space Center in Florida, marking the beginning of final launch preparations for the first crewed lunar journey in over 50 years. NASA...

SpaceX Pivots Toward Moon City as Musk Reframes Long-Term Space Vision

SpaceX CEO Elon Musk has revealed a significant shift in the companys near-term space exploration strategy, announcing that SpaceX is now prioritizing the development of a self-growing city on the Moon rather than focusing...

SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates

Elon Musks SpaceX is shifting its near-term space exploration strategy, choosing to prioritize a return to the Moon before pursuing missions to Mars, according to a recent Wall Street Journal report citing sources familiar...

Technology

Britain Courts Anthropic Amid US Defense Department Dispute

The United Kingdom is actively working to attract Anthropic, the company behind the popular Claude AI app, to expand its footprint in the country. This diplomatic push comes as Anthropic finds itself in the middle of a...

OpenAI Executive Shake-Up Ahead of Anticipated 2026 IPO

OpenAI is navigating a significant leadership restructuring at one of the most pivotal moments in its history. The AI powerhouse confirmed that Chief Operating Officer Brad Lightcap is transitioning into a newly created...

Elon Musk Ties SpaceX IPO Access to Mandatory Grok AI Subscriptions

Elon Musk is reportedly making Grok subscriptions a prerequisite for banks and advisers involved in SpaceXs highly anticipated initial public offering. According to the New York Times, citing insiders familiar with the...

MATCH Act Targets ASML and Chinese Chipmakers in New U.S. Export Crackdown

A bipartisan group of U.S. lawmakers has unveiled the MATCH Act, a landmark piece of draft legislation designed to tighten export restrictions on advanced semiconductor manufacturing equipment destined for China. The...

Microsoft's $10 Billion Japan Investment: AI Infrastructure and Data Sovereignty Push

Microsoft is set to pour approximately $10 billion into Japan between now and 2029, channeling funds into data center expansion and artificial intelligence infrastructure to meet the countrys growing demand for data...