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BUSINESS

  • Ripple, Solana, Cardano: Are These Altcoins Set to Outperform Bitcoin in the Coming Months? Crypto investors are increasingly drawn to Bitcoin and altcoins like Solana, Ripple, and Cardano, highlighting their growth potential.
  • Tesla Hit by Espionage Scandal: Ex-Employee Stole Secrets, Tried to Sell Them Overseas Tesla faces a major threat as a former employee attempts to steal confidential tech for a business in China, thwarted by the FBI.
  • China’s Steel Industry Faces Tough Times: Demand Expected to Drop 1.5% in 2025 China's steel demand is set to decline by 1.5% in 2024 due to a sluggish real estate market and slowing manufacturing growth.
  • Volkswagen Cuts Manager Salaries by 10% Amid Job Reductions and Production Cuts Volkswagen is cutting manager salaries by 10% and reducing jobs by over 35,000 to address production capacity and avoid strikes.
  • iPhone 16 Ban in Indonesia Could Be Lifted Soon After Apple’s Massive Investment Apple plans a $1 billion investment in Indonesia to lift the iPhone 16 sales ban, boosting local production and education initiatives.
  • Rumble’s Stock Soars After $775 Million Investment from Blockchain Giant Tether Rumble secures a $775 million investment from Tether, maintaining CEO control, with plans for a stock buyback in Q1 2025.
  • Stellantis Pulls Back on 1,100 Layoffs in Ohio After CEO Steps Down Stellantis cancels planned layoffs at its Ohio Jeep plant, affecting around 1,100 employees, amid declining North American sales.
  • U.S. Congress Fails to Pass Biosecurity Act, WuXi Biologics Resumes Plant Construction The U.S. Congress has failed to pass the Biosecurity Act this year, a bill aimed at countering Chinese biotech firms.
  • Inflation Fears Push U.S. Treasury Yields to Highest in Six Months Renewed inflation fears in the United States have pushed the yield on 10-year Treasury bonds to its highest level in six months.
  • Apple Faces Tough Competition in China: How Tencent and ByteDance Could Help Apple is seeking AI partnerships in China to enhance iPhones as competition with local brands like Huawei intensifies.
  • Bitcoin Dips, Tesla Drops—Is the Trump Trade Finally Losing Steam? U.S. stocks decline amid mixed signals from the Fed, with concerns over the "Trump trade" and optimism in AI sectors influencing the market.
  • Nvidia Breaks Losing Streak, But Market Still Struggles Amid Fed Uncertainty After the Fed's rate cut, major indices showed mixed results; Dow rose slightly while S&P 500 and Nasdaq fell, dampening investor sentiment.
  • U.S. Cracks Down on NVIDIA’s China Exports as Smuggling Ring Evades Detection The U.S. Department of Commerce has reportedly asked NVIDIA to investigate the distribution of its products to China over the past year.
  • Musk Eyes Unsupervised Driverless Cars in Texas and California Tesla accelerates autonomous driving efforts in Texas, aiming for fewer regulations and advancing technology under Trump's administration.
  • Flying Cars Hit China’s Skies: Xpeng’s Modular 'Land Aircraft Carrier' Stuns China's low-altitude economy is booming, with companies like Xpeng Huitian leading the way in developing flying cars and eVTOLs.
  • Stock Market Opportunity? Analysts Say Now's the Time to Increase Holdings Analysts suggest increasing stock holdings as the Fed signals a halt to rate cuts, despite concerns over inflation and job market stability.
  • Bitcoin Faces a Crash After Trump’s Inauguration, According to Arthur Hayes Arthur Hayes predicts a Bitcoin crash during Trump's inauguration due to a sell-off driven by unmet investor expectations.
  • Billionaire Investor Stanley Druckenmiller Names His Top Stock Pick for Q3 Wall Street legend and billionaire investor Stanley Druckenmiller has named Coupang his top stock pick for the third quarter of this year.
  • Japan’s Auto Giants, Honda and Nissan, Discuss Merger as Financial Woes Mount Honda and Nissan are in merger talks to address financial struggles and enhance competitiveness amid declining EV sales and market share.
  • Microsoft to Buy 485,000 NVIDIA Chips, More Than Triple Last Year’s Purchase Microsoft plans to buy 485,000 NVIDIA Hopper chips in 2024, significantly outpacing competitors like Meta in AI chip acquisitions.
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