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BUSINESS

  • Tesla's Cybertruck Woes Continue with Major Recall Tesla announced on Tuesday that it is recalling up to 20,000 units of its Cybertruck pickup, marking the fourth vehicle recall.
  • Microsoft in Hot Water: EU Challenges Teams App Sales Strategy The European Union (EU) has reached a preliminary conclusion that Microsoft’s practice of bundling its video conferencing app, Teams, constitutes a violation of antitrust laws. The EU announced the results of an investigation stating that Apple also violated the EU’s tech company regulation law, the Digital Market Act (DMA), showing a tough stance against American […]
  • Israel Pours $250 Million into National AI Program, Eyes Global Leadership The chief executive of the state-backed Israel Innovation Authority said Israel is set to launch its first supercomputer on Wednesday.
  • Fatal Fire in Korea Highlights Reliance on Migrant Labor for Undesirable Jobs Amidst the confirmation that most of the fatalities in the fire at the Aricell factory in Hwaseong, Gyeonggi Province on June 24 were foreign temporary workers. Media outlets have highlighted the increasing dependence on foreign labor in South Korea. AP News and The New York Times (NYT) reported on June 25 that “a fire at […]
  • Bentley's Latest: Ultimate Grand Tourer GT Speed Revealed Bentley Motors, a Volkswagen Group subsidiary, unveiled the 4th generation, The New Continental GT Speed.
  • Is the Election Holding Back Car Buyers? U.S. Sales Trends Suggest So Amidst a plethora of economic uncertainties including the upcoming November elections, the speed of car sales in the United States is expected to wind down. Before deciding on their purchase, individual consumers are likely to wait for the results of the November elections and the direction of the next administration. On the 25th (local time), […]
  • NVIDIA Execs Cash Out, Stock Drops 6% in One Day Amid a 6% plunge in a single day, NVIDIA CEO and other executives' stock sales have been pointed out as fueling investor anxiety.
  • Apple Slashes Workforce by 50%: Automation Takes Over iPhone Assembly Apple proposed its supply chain and production automation initiatives, which were postponed due to high initial costs.
  • How Short Sellers Cashed in on Nvidia's Decline Nvidia short sellers have made a profit through a three-day sell-off. According to data analysis company Ortex Technologies on the 25th (local time), Nvidia short sellers made about $5 billion in paper profits through a drastic sell-off over the previous three rounds. Furthermore, with Nvidia’s 6.6% drop on Monday, short sellers raked in $2.4 billion, […]
  • Tesla's Cybertruck Recall Hits 11,383 Units: What You Need to Know Tesla is recalling its Cybertruck electric pickup truck due to issues with both interior and exterior trims. Back in April, nearly 4,000 Cybertrucks were recalled to address an issue where the acceleration pedal pad could become loose and potentially get caught in the interior trim. According to the U.S. National Highway Traffic Safety Administration (NHTSA), […]
  • Senate Report Warns of AI Risks in Financial Markets The U.S. Senate raised concerns that the expanding use of artificial intelligence by hedge funds could pose risks to investors and the financial market. It remains uncertain whether the U.S. political arena will initiate regulations on this matter. According to industry sources on the 26th, the U.S. Senate Committee on Homeland Security and Governmental Affairs […]
  • EU Eyes Massive Fines Over Apple App Store Rules The European Union (EU) has imposed sanctions on Apple through its Digital Markets Act (DMA). If the EU regulatory authorities ultimately determine that Apple has violated the provisions of the DMA, they will impose a fine of up to 10% of Apple’s global sales. The EU Commission is expected to make a final decision on […]
  • Certification Scandal Halts Toyota’s Latest Lexus SUV Rollout Toyota Motor Corporation, which was caught in certification fraud, is delaying the production and release of the new Lexus GX550. According to the Nihon Keizai Shimbun (Nikkei) on the 25th, Toyota is expected to delay the production and release of 100 Lexus GX550s that were pre-sold until mid-last month. Although this model was not found […]
  • How Rivian Plans to Dominate the Electric SUV Market by 2026 Rivian announced that its profitability is dramatically improving through cost reductions. Rivian sold more than 50,000 units in 2023.
  • YouTube Cracks Down on VPN Users to Stop Cheaper Premium Subscriptions YouTube has begun cracking down on users who use VPNs to change their internet access and subscribe to the paid service at a cheaper cost.
  • Dow Up, S&P Down: What's Driving Wall Street's Rollercoaster? The major New York Stock exchanges experienced mixed closes for the third consecutive day.
  • Nvidia Faces 98% Drop Amid Market Bubble Warnings Nvidia, which has risen 174% this year, has fallen sharply for three trading days, bringing back concerns about the second dotcom bubble.
  • Ferrari's First EV Comes With a $535,000 Price Tag An inside source shared with Reuters that Ferrari’s first electric vehicle (EV) will cost at least $535,000. The luxury automaker is preparing to open a plant that will make the model, which could boost group production by up to a third. Ferrari’s first EV is scheduled to be launched in the second half of 2025. […]
  • The AI Bubble: Bursting Soon? Nvidia and Others Lose Ground NVIDIA has been struggling since it briefly became the most valuable publicly traded US company last week.
  • Bank of England Aims for Predictability Amid Price Fluctuations Despite the drop in U.K. inflation, the Bank of England (BOE) maintained interest rates at 5.25%. Euronews reported on the 20th (local time) that the BOE decided on monetary policies in line with the market expectations and maintained the interest rate for the seventh consecutive time. Although the possibility of a decrease was raised as […]
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