Chinese Automakers Rising: BYD's Strategy to Overhaul the Market On March 27, 2024, the Chinese automaker BYD conducted an investor meeting where it made several announcements regarding next-generation technologies and sales targets. During the meeting, BYD revealed its plan to launch the 5th generation of DM (Dual Mode) hybrid technology in May. This technology reduces fuel consumption to 2.9 liters per 100km (around 81 […]
China's BYD Hits a High: Records $4 Billion Profit Amid EV Boom BYD, China's largest electric vehicle company, posted record operating profit last year. BYD's revenue last year was CNY602.15 billion (USD11.17 trillion), up 42.04% year-on-year, and operating profit was CNY30.41 billion (USD5.6 trillion), up 8 China's largest electric vehicle company BYD achieved record operating profit last year. BYD's revenue last year was CNY602.15 billion (USD11.17 trillion), an increase of 42...
Smilegate Barcelona Closes With All Employees Laid Off Smilegate’s first overseas game development studio, Smilegate Barcelona, has closed its doors. The global gaming industry’s restructuring winds are also affecting Korean game companies. Stephane Blais, former World Director of Smilegate Barcelona, announced on LinkedIn on the 27th (local time) that “Smilegate Barcelona is closing its doors. All staff are being laid off.” Edouard Albert, […]
China's Real Estate Struggles Deepen, Beijing Allows Home Purchases Through Sham Divorce Regulation of restricting home purchase for 3 years after divorceAttempting to encourage purchases by quietly abolishingChina’s January-February new home sales were 12.7% lower than in at the time of the pandemic China mired in a real estate slump and quietly removed a regulation that banned the purchase of new homes for three years after a […]
There's a Reason for the Sudden Spike in Dogecoin and Bitcoin Cash Prices The reasons behind the rise of Dogecoin (DOGE) and Bitcoin Cash (BCH) are garnering attention. As of 11:05 a.m. on the 28th, Dogecoin was trading at $0.21, up 10.81% from 24 hours ago, and Bitcoin Cash was trading at $582.44, up 12.34% on Bithumb. Dogecoin rose to $0.22, and Bitcoin Cash rose to $591. The […]
Citigroup: More Cuts Expected as Part of Global Reorganization [AlphaEconomy=(Chicago) Paul Lee Correspondent] Citigroup's major restructuring is nearing completion...
Moderna Secures $750 Million in Funding to Develop a Flu Vaccine, Backed by Blackstone Life Sciences Moderna is developing a flu vaccine with an investment from Blackstone Life Sciences, a Blackstone life science investment platform. On the 27th (local time), Moderna announced that it had signed a $750 million financing agreement with Blackstone Life Sciences to develop an mRNA flu vaccine. Moderna stated that Blackstone Life Sciences will receive commercial milestone […]
Valkyrie CIO Predicts Ripple ETF Approval Ahead of Ethereum [Dugguru=Sung-Hwan Hong] It has been observed that a Ripple (XRP) spot exchange traded fund (ETF) is likely to be approved before an Ethereum (ETH) spot ETF. It will be interesting to see if global managers will start to launch Ripple spot ETFs. "I don't think an Ethereum spot ETF will be approved in May because I believe that Ethereum can be a security," said Stephen McClurg, co-founder and chief investment officer of Valkyrie Investments, in a conversation with a reporter from U.S. financial media Fox Business, according to industry sources. "I think it's more likely that Ripple or Litecoin (LTC) will be approved before Ethereum." However, no manager has yet formalized the launch of a Ripple or Litecoin spot ETF. Seven asset managers, including BlackRock, Fidelity, Ark Investments, and Grayscale, have filed to list an Ethereum spot ETF. The U.S. Securities and Exchange Commission (SEC) is expected to make a decision on May 23 on whether to approve ETH spot ETFs. The market is betting that an ETH spot ETF is unlikely to be approved. This is because unlike Bitcoin, which is proof-of-mining (POW), Ethereum is proof-of-stake (POS), which raises ongoing securities issues. Eric Balchunas, an ETF analyst at Bloomberg, previously put the likelihood of an ETH spot ETF approval at 70% in January, but recently downgraded it to 30%. "The approval process for an ETH spot ETF is different from that for a bitcoin spot ETF," he explained, "and we've lowered our odds of approval given the lack of progress with more than 70 days to go before the deadline."
Visa Adds New AI Tools to Improve Payment Security [AlphaEconomy=(Chicago) Paul Lee Correspondent] Visa is adding three new AI-powered fraud prevention tools to improve security...
U.S. Urges Allies to Limit Services to China The U.S. Commerce Department is asking allies to stop providing service for certain semiconductor manufacturing equipment sold to Chinese customers. This follows similar requests to the Netherlands and Japan after the US restricted exports of equipment for advanced semiconductor manufacturing...
Kia EV9 Wins the World Car of the Year 2024, Making It a Two-time Winner Kia’s flagship electric sports utility vehicle (SUV), model EV9, has won the World Car of the Year, the highest honor at the World Cars Awards 2024. It also clinched the title of World Electric Vehicle, making it a two-time winner. Hyundai’s Ioniq 5 N also won in the performance car category. According to the WCA, […]
Nvidia Accelerates New Product Releases, Solidifies AI Dominance Nvidia, the global AI leader, is expected to strengthen its dominance in the AI market as the launch cycle of its new products is being shortened. Moon Jun Ho, a researcher at Samsung Securities, believes that “The anticipation of Nvidia’s dominance in the AI market is continuously strengthening due to the shortened new product launch […]
Colin Huang Becomes China's Second Richest Thanks to 'Temu Effect' Colin Huang, the founder of the Chinese e-commerce company Pinduoduo, has surpassed Tencent chairman Ma Huateng to become the second wealthiest person in China. This is mainly due to the rapid rise of Pinduoduo’s ultra-low-cost online shopping mall, Temu, in global markets, including the United States, which has driven up Pinduoduo’s stock price. According to […]
Chinese Railroad Company Pulls Out of Bulgaria as EU Probes Into Unfair Subsidy Begins A Chinese state-owned company, which had won a public tender project in Bulgaria, a member of the European Union (EU), has abandoned the contract after initiating an EU investigation into unfair subsidies. The EU Commission announced on the 26th (local time) that CRRC Qingdao Sifang, a subsidiary of CRRC, withdrew from the tender contract for […]
China Challenges U.S. at WTO Over Inflation Reduction Act China “not environmental protection, but ‘discriminatory law'” China has filed a lawsuit at the World Trade Organization (WTO) against the United States’ Inflation Reduction Act (IRA). According to reports from Yonhap News and the WTO on the 27th, the dispute resolution process began at the WTO following China’s request to rectify the discriminatory subsidy execution […]
Apple's iPhone Shipments to China Drop 33% in February In February, shipments of Apple’s iPhone to China fell by more than 30% compared to last year. This marked a struggle for Apple in the Chinese market as shipments decreased for two consecutive months. Bloomberg quoted statistics from the China Academy of Information and Communications Technology (CAICT) on the 26th that iPhone shipments to China […]
Callaway: 'There Have Been No Discussions of Acquisition' “Korean company’s acquisition rumor is out of the question. There will be no response in the future.”Callaway’s sales are strong, revenue increased 7% year-over-year Callaway has officially stated that there were “no discussions” about the acquisition from a Korean company. This comes as a rare official denial in response to reports that a Korean Strategic […]
Krispy Kreme Shares Soar After Partnering With McDonald's Krispy Kreme’s stock price has soared following a partnership with McDonald’s. Krispy Kreme shares rose by up to 23% in pre-market trading on September 26th after McDonald’s announced plans to supply Krispy Kreme doughnuts to all U.S. stores by the end of 2026. The two companies have announced that the partnership will begin in the […]
General Electric (GE) Prepares to Become a Pure-Play Aerospace Company General Electric (GE) is set to become a pure space and aviation company following its spin-off. General Electric (GE) has undergone a significant restructuring of its business since 2018, which has involved asset sales and other means of realignment. As a result, it has split its operations into three divisions: aviation (GE Aerospace), energy (GE […]
Elon Musk Offers Free Test Drive of Tesla's Full Self-Driving System to Boost Sales Tesla, an electric vehicle company, is offering its Full Self-Driving (FSD) system free for a month to customers in the United States. This move is seen as a response to a slowdown in sales despite the growing popularity of electric vehicles. According to Reuters and other sources, on the 26th, CEO Elon Musk wrote on […]
Chinese Automakers Rising: BYD's Strategy to Overhaul the Market On March 27, 2024, the Chinese automaker BYD conducted an investor meeting where it made several announcements regarding next-generation technologies and sales targets. During the meeting, BYD revealed its plan to launch the 5th generation of DM (Dual Mode) hybrid technology in May. This technology reduces fuel consumption to 2.9 liters per 100km (around 81 […]
China's BYD Hits a High: Records $4 Billion Profit Amid EV Boom BYD, China's largest electric vehicle company, posted record operating profit last year. BYD's revenue last year was CNY602.15 billion (USD11.17 trillion), up 42.04% year-on-year, and operating profit was CNY30.41 billion (USD5.6 trillion), up 8 China's largest electric vehicle company BYD achieved record operating profit last year. BYD's revenue last year was CNY602.15 billion (USD11.17 trillion), an increase of 42...
Smilegate Barcelona Closes With All Employees Laid Off Smilegate’s first overseas game development studio, Smilegate Barcelona, has closed its doors. The global gaming industry’s restructuring winds are also affecting Korean game companies. Stephane Blais, former World Director of Smilegate Barcelona, announced on LinkedIn on the 27th (local time) that “Smilegate Barcelona is closing its doors. All staff are being laid off.” Edouard Albert, […]
China's Real Estate Struggles Deepen, Beijing Allows Home Purchases Through Sham Divorce Regulation of restricting home purchase for 3 years after divorceAttempting to encourage purchases by quietly abolishingChina’s January-February new home sales were 12.7% lower than in at the time of the pandemic China mired in a real estate slump and quietly removed a regulation that banned the purchase of new homes for three years after a […]
There's a Reason for the Sudden Spike in Dogecoin and Bitcoin Cash Prices The reasons behind the rise of Dogecoin (DOGE) and Bitcoin Cash (BCH) are garnering attention. As of 11:05 a.m. on the 28th, Dogecoin was trading at $0.21, up 10.81% from 24 hours ago, and Bitcoin Cash was trading at $582.44, up 12.34% on Bithumb. Dogecoin rose to $0.22, and Bitcoin Cash rose to $591. The […]
Citigroup: More Cuts Expected as Part of Global Reorganization [AlphaEconomy=(Chicago) Paul Lee Correspondent] Citigroup's major restructuring is nearing completion...
Moderna Secures $750 Million in Funding to Develop a Flu Vaccine, Backed by Blackstone Life Sciences Moderna is developing a flu vaccine with an investment from Blackstone Life Sciences, a Blackstone life science investment platform. On the 27th (local time), Moderna announced that it had signed a $750 million financing agreement with Blackstone Life Sciences to develop an mRNA flu vaccine. Moderna stated that Blackstone Life Sciences will receive commercial milestone […]
Valkyrie CIO Predicts Ripple ETF Approval Ahead of Ethereum [Dugguru=Sung-Hwan Hong] It has been observed that a Ripple (XRP) spot exchange traded fund (ETF) is likely to be approved before an Ethereum (ETH) spot ETF. It will be interesting to see if global managers will start to launch Ripple spot ETFs. "I don't think an Ethereum spot ETF will be approved in May because I believe that Ethereum can be a security," said Stephen McClurg, co-founder and chief investment officer of Valkyrie Investments, in a conversation with a reporter from U.S. financial media Fox Business, according to industry sources. "I think it's more likely that Ripple or Litecoin (LTC) will be approved before Ethereum." However, no manager has yet formalized the launch of a Ripple or Litecoin spot ETF. Seven asset managers, including BlackRock, Fidelity, Ark Investments, and Grayscale, have filed to list an Ethereum spot ETF. The U.S. Securities and Exchange Commission (SEC) is expected to make a decision on May 23 on whether to approve ETH spot ETFs. The market is betting that an ETH spot ETF is unlikely to be approved. This is because unlike Bitcoin, which is proof-of-mining (POW), Ethereum is proof-of-stake (POS), which raises ongoing securities issues. Eric Balchunas, an ETF analyst at Bloomberg, previously put the likelihood of an ETH spot ETF approval at 70% in January, but recently downgraded it to 30%. "The approval process for an ETH spot ETF is different from that for a bitcoin spot ETF," he explained, "and we've lowered our odds of approval given the lack of progress with more than 70 days to go before the deadline."
Visa Adds New AI Tools to Improve Payment Security [AlphaEconomy=(Chicago) Paul Lee Correspondent] Visa is adding three new AI-powered fraud prevention tools to improve security...
U.S. Urges Allies to Limit Services to China The U.S. Commerce Department is asking allies to stop providing service for certain semiconductor manufacturing equipment sold to Chinese customers. This follows similar requests to the Netherlands and Japan after the US restricted exports of equipment for advanced semiconductor manufacturing...
Kia EV9 Wins the World Car of the Year 2024, Making It a Two-time Winner Kia’s flagship electric sports utility vehicle (SUV), model EV9, has won the World Car of the Year, the highest honor at the World Cars Awards 2024. It also clinched the title of World Electric Vehicle, making it a two-time winner. Hyundai’s Ioniq 5 N also won in the performance car category. According to the WCA, […]
Nvidia Accelerates New Product Releases, Solidifies AI Dominance Nvidia, the global AI leader, is expected to strengthen its dominance in the AI market as the launch cycle of its new products is being shortened. Moon Jun Ho, a researcher at Samsung Securities, believes that “The anticipation of Nvidia’s dominance in the AI market is continuously strengthening due to the shortened new product launch […]
Colin Huang Becomes China's Second Richest Thanks to 'Temu Effect' Colin Huang, the founder of the Chinese e-commerce company Pinduoduo, has surpassed Tencent chairman Ma Huateng to become the second wealthiest person in China. This is mainly due to the rapid rise of Pinduoduo’s ultra-low-cost online shopping mall, Temu, in global markets, including the United States, which has driven up Pinduoduo’s stock price. According to […]
Chinese Railroad Company Pulls Out of Bulgaria as EU Probes Into Unfair Subsidy Begins A Chinese state-owned company, which had won a public tender project in Bulgaria, a member of the European Union (EU), has abandoned the contract after initiating an EU investigation into unfair subsidies. The EU Commission announced on the 26th (local time) that CRRC Qingdao Sifang, a subsidiary of CRRC, withdrew from the tender contract for […]
China Challenges U.S. at WTO Over Inflation Reduction Act China “not environmental protection, but ‘discriminatory law'” China has filed a lawsuit at the World Trade Organization (WTO) against the United States’ Inflation Reduction Act (IRA). According to reports from Yonhap News and the WTO on the 27th, the dispute resolution process began at the WTO following China’s request to rectify the discriminatory subsidy execution […]
Apple's iPhone Shipments to China Drop 33% in February In February, shipments of Apple’s iPhone to China fell by more than 30% compared to last year. This marked a struggle for Apple in the Chinese market as shipments decreased for two consecutive months. Bloomberg quoted statistics from the China Academy of Information and Communications Technology (CAICT) on the 26th that iPhone shipments to China […]
Callaway: 'There Have Been No Discussions of Acquisition' “Korean company’s acquisition rumor is out of the question. There will be no response in the future.”Callaway’s sales are strong, revenue increased 7% year-over-year Callaway has officially stated that there were “no discussions” about the acquisition from a Korean company. This comes as a rare official denial in response to reports that a Korean Strategic […]
Krispy Kreme Shares Soar After Partnering With McDonald's Krispy Kreme’s stock price has soared following a partnership with McDonald’s. Krispy Kreme shares rose by up to 23% in pre-market trading on September 26th after McDonald’s announced plans to supply Krispy Kreme doughnuts to all U.S. stores by the end of 2026. The two companies have announced that the partnership will begin in the […]
General Electric (GE) Prepares to Become a Pure-Play Aerospace Company General Electric (GE) is set to become a pure space and aviation company following its spin-off. General Electric (GE) has undergone a significant restructuring of its business since 2018, which has involved asset sales and other means of realignment. As a result, it has split its operations into three divisions: aviation (GE Aerospace), energy (GE […]
Elon Musk Offers Free Test Drive of Tesla's Full Self-Driving System to Boost Sales Tesla, an electric vehicle company, is offering its Full Self-Driving (FSD) system free for a month to customers in the United States. This move is seen as a response to a slowdown in sales despite the growing popularity of electric vehicles. According to Reuters and other sources, on the 26th, CEO Elon Musk wrote on […]
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