BUSINESS Archives - Page 39 of 68

Chinese Car Brands to Dominate 33% of Global Sales by 2030 2024.06.28 Vehicle sales outside China are projected to increase from 3 million units this year to around 9 million units by 2030.

UK Auto Market Predicts Massive Expansion by 2035 2024.06.28 The UK's Society of Motor Manufacturers and Traders (SMMT) urges the next government to collaborate closely with the automotive industry.

Tesla's Dominance Challenged: U.S. Market Share Could Dip Below 50% 2024.06.28 According to data from MarkLines, Tesla's sales in the U.S. market from June to May this year amounted to 618,000 units.

Wall Street Breathes Easy: U.S. Banks Ace Federal Stress Tests 2024.06.28 Major U.S. banks were found to have robust financial health and strong enough to withstand a global recession. On June 26, Yahoo Finance reported that in the Federal Reserve’s stress tests, 31 large U.S. banks showed financial soundness despite the relaxation of minimum capital requirements. This assessment hypothesized a situation in the next two years […]

Montana Faces Economic Blow with Potential Mine Closure 2024.06.28 The Montana palladium mine owned by Sibanye Stillwater, a South African mining company, is expected to shut down.

IMF Warns: U.S. Trade Sanctions on China Could Backfire on Economy 2024.06.28 The IMF has pointed out that trade sanctions against China negatively impact both the global and U.S. economies.

How NVIDIA's Early Bet on AI Paid Off Big Time 2024.06.28 On June 26, Nvidia CEO Jensen Huang, stated, “Nvidia’s dominance in the AI chip field was due to a decision made over a decade ago.” Speaking at the annual shareholders meeting that day, Huang said, “With billions of dollars in AI investments and a team made up of thousands of engineers, we have become an […]

Amazon to Roll Out Cheap Goods to Trump Temu and Shein 2024.06.28 With fierce competition from Chinese e-commerce platforms, Amazon is launching a dedicated section exclusively for ultra-low-priced products.

46% of American EV Owners Might Go Back to Gas-Powered Vehicles 2024.06.28 46% of American EV owners responded that they intend to switch to a gas-powered car in their next purchase, according to a recent survey.

Volkswagen Backs Rivian with $5 Billion: New Era for Electric Vehicles Begins 2024.06.28 Volkswagen Group announced Tuesday that it is establishing a joint venture with Rivian for next-generation electric vehicles.

Tesla's Cybertruck Woes Continue with Major Recall 2024.06.28 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 2024.06.27 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 2024.06.27 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 2024.06.27 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 2024.06.27 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 2024.06.27 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 2024.06.27 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 2024.06.27 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 2024.06.27 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 2024.06.26 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), […]

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