BUSINESS Archives - Page 60 of 73

Citadel CEO Ken Griffin Bets Big on Amazon's AI Future 2024.04.12 Citadel LLC CEO Ken Griffin has increased his stake in Amazon.com, Inc. This decision is based on Amazon’s growing prominence as a leader in AI (Artificial Intelligence) within the cloud and e-commerce platforms. According to industry sources on the 10th, Griffin’s Citadel hedge fund has more than tripled its investment in Amazon.com, Inc. Citadel’s top […]

US and Australia Struggle as China Cancels Wheat Orders 2024.04.11 Chicago wheat futures prices have fallen by 10% since the start of the yearChina cancels order for 504,000 tons of U.S. wheatFood Security Law to take effect in JunePressure to curb grain imports increases Wheat prices have plummeted as China, the world’s largest grain importer, recently canceled large wheat orders from the U.S. and Australia. […]

Meta's Artemis: Revolutionizing AI and Energy Efficiency 2024.04.11 Meta unveiled a new AI chip. Meta revealed the details of its next-generation in-house AI accelerator chip on the 10th (local time). Internally referred to as Artemis, the new chip is expected to help Meta reduce its reliance on Nvidia’s AI chips and cut overall energy costs. Meta stated in a social media post, “The […]

U.S. EV Market Brand Loyalty is Highest for Tesla at 87% 2024.04.11 It was investigated that brand loyalty for Tesla remains high in the U.S. market. According to a survey by Bloomberg Intelligence, Tesla boasted the highest brand retention rate at 87%, followed by Lexus at 68%, Toyota at 54%, Ford at 53%, Honda at 51%, Nissan at 49%, BMW at 44%, Subaru at 42%, Jeep at […]

China Surges Ahead as Saudi Arabia's Top Greenfield Investor 2024.04.11 China emerges as the largest greenfield investor China emerged as Saudi Arabia’s largest greenfield investment country last year. This signifies a deepening relationship between the two nations. According to the Institute for International Economic Policy, on the 10th, China invested $16.8 billion in Saudi Arabia last year, securing its position as a major greenfield foreign […]

Apple's Diversification Strategy: 1 in 7 iPhones Now Made in India 2024.04.11 Apple diversifies production basesiPhone sales in China down 24% YoY As Apple’s iPhone production in China decreases, its production in India significantly increases. This shift is attributed to the struggles faced by China’s lockdown policies during the COVID-19 pandemic and a significant drop in iPhone sales due to competition from local companies like Huawei. Bloomberg […]

China's Economic Outlook Darkens as Fitch Downgrades Its Credit Rating 2024.04.11 AP and Yonhap Fitch, an international credit rating agency, has downgraded China’s national credit rating outlook. The agency cited the country’s struggle to extricate itself from a real estate-driven economic crisis. According to Bloomberg News, on the 10th, Fitch downgraded China’s national credit rating outlook from stable to negative. Fitch explained the reason for the […]

Pay Gap between CEO and Employees Widens at Chevron 2024.04.11 The wage gap between Chevron’s CEO and its employees has widened. According to a securities report released on the 10th (local time), Chevron’s CEO, Michael Wirth, was paid $26.5 million in 2023. This represents a 12.2% increase from the previous year, exceeding the average pay increase of the employees. Additionally, the second-highest-paid executive, Mark Nelson, […]

Middle East Tensions Ease, Oil Prices Fall 2024.04.11 The price of oil, nearing $90, has started to decline. Oil prices fell from a five-month high on the 8th (local time) after Israel announced it would withdraw some of its troops from Gaza, helping to cool some of the geopolitical gains from last week. Brent crude futures plummeted by 2.6% before recovering some losses, […]

Italy to Invest $1.1 Billion in AI Over the Next Five Years 2024.04.10 Italy is moving towards becoming an economic powerhouse through investments in AI and cybersecurity. On the 8th (local time), Italy’s state-run lending institution announced that the venture capital division of the Italian Cassa Depositors’ Association (Cassa Depositi e Prestiti, CDP) would invest 1 billion euros ($1.1 billion) in AI and cybersecurity over the next five […]

Elon Musk Predicts AI Supremacy Over Humans in Just a Year 2024.04.10 Replies during an interview with Norway wealth fund CEO Elon Musk, the CEO of American electric vehicle company Tesla, predicted that an AI surpassing human intelligence could emerge within the following year. This outlook suggests a more rapid development of AI than the prediction made by Jensen Huang, CEO of leading AI chip manufacturer Nvidia, […]

China's EV Bubble Bursts: Xiaomi and Evergrande Grapple with Bankruptcy Threats 2024.04.09 Fierce competition in China’s global EV marketXiaomi and Evergrande EV struggle Chinese electric vehicle (EV) companies, once heralded for their global market dominance, are recently facing a crisis with a wave of bankruptcies. Unless the authorities intervene, there is a possibility that the entire market may wobble. This is a view of an EV company […]

Kia's EV9 Selected as 'Best New Car of 2024' by Auto Trader 2024.04.09 Another win after Women’s World Car of the Year (WWCOTY) and World Car of the Year Kia’s flagship large electric Sports Utility Vehicle (SUV), the EV9, has once again been recognized for its value in the United States. Following its win last month as the World Car of the Year at the World Cars Awards […]

US Bolsters Semiconductor Production with Massive TSMC Funding 2024.04.09 The U.S. government has announced it will provide up to $6.6 billion in support to the Taiwanese semiconductor company TSMC. On the 8th (local time), the U.S. Department of Commerce pledged to provide up to $6.6 billion to expand the facilities that TSMC is constructing in Arizona and to enable the production of cutting-edge semiconductors […]

Samsung's Texas Chip Factory: A $7 Billion Vote of Confidence from U.S. Government 2024.04.09 Samsung Electronics is building a foundry factory in Taylor, Texas, reportedly receiving up to $7 billion in subsidies from the U.S. government. On the 8th (local time), Reuters reported, citing sources, that the U.S. government will announce a subsidy of $6 to $7 billion for Samsung Electronics next week under the semiconductor support law. One […]

Yellen's Battle Cry: US New Industries Won't Fall Like Steel 2024.04.09 During her visit to China, U.S. Treasury Secretary Janet Yellen emphasized that new American industries will not follow the same path to decline as the steel industry due to Chinese subsidies. According to foreign media outlets such as Reuters and The Washington Post on the 8th (local time), Secretary Yellen, who wrapped up a series […]

Musk's Surprise Announcement: Tesla's Robotaxis Coming This August 2024.04.09 Elon Musk, CEO of Tesla, announced plans to unveil self-driving robot taxis in August. This move is seen as a strategy to stimulate new growth amid disappointing first-quarter sales, which fell short of market expectations. On May 5 (local time), Musk posted on his X (formerly Twitter) account, “The Tesla robot taxi will be unveiled […]

Paramount Global Considers Potential Acquisition of Skydance for $5 Billion 2024.04.08 A major media corporation is seemingly considering the acquisition of an independent studio. The Wall Street Journal reported on the 6th that Paramount is poised to acquire Skydance for approximately $5 billion. Reuters reported that Paramount’s board members have opted for exclusive merger negotiations with the independent studio Skydance Media rather than a $26 billion […]

Tesla Faces $5 Million Lawsuit Over Alleged Wage Law Violations in California 2024.04.08 Tesla faces a new class-action lawsuit over alleged wage law violations in California amid ongoing workplace bias and union-busting allegations. According to Reuters, on the 6th (local time), two former employees of Tesla’s Fremont assembly plant in California filed a lawsuit in a Sacramento federal court on behalf of thousands of Tesla workers statewide, seeking […]

Saudi Arabia's Futuristic City Dream Faces Reality Check 2024.04.08 The Saudi Arabian government is expected to slow down the development of the Neom City project, a key initiative of Crown Prince Mohammed bin Salman. This has diminished expectations for a construction boom in our industry. Bloomberg reported on the 8th, citing sources, “Saudi Arabia has scaled back the midterm goals for Neom City, the […]

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