BUSINESS Archives - Page 62 of 68

Why Did Apple Drop Their Apple Car Project After a Decade? 2024.03.15 Apple’s decision to fold the Apple Car project, a venture they had nurtured for 10 years, was disappointing news for Apple enthusiasts anticipating their dream electric car. What could have led Apple to abandon the Apple Car project that they invested in for a decade? The answer seems to lie in their overly ambitious concept […]

Another Day of Decline in the Stock Market 2024.03.15 Reuters/Yonhap News On March 14 (Eastern Time), all three major New York Stock Exchange indices fell. According to Yonhap News, on the New York Stock Exchange (NYSE), the Dow Jones 30 Industrial Average ended down 137.66 points (0.35%) 38,905.66. The Standard & Poor’s (S&P) 500 Index closed at 5,150.48, down 14.83 points (0.29%) from the […]

Golden Opportunity: Australian Real Estate Boom Attracts Retiree Investors 2024.03.15 Australia has seen a return to record high prices and transaction volumes in most areas as retirees with substantial cash reserves begin to invest in real estate in earnest./Wikimedia A report suggests the aging population could be a boon for the real estate market. The Sydney Morning Herald reported on the 13th (local time) that […]

Next-Gen Golf Experience: LG Electronics Partners with Atomic Golf in Las Vegas 2024.03.15 LG Electronics has partnered with Atomic Golf, a major golf entertainment company in the United States. They pioneer the next generation of landmark golf destinations in the United States and offer users a unique digital experience. According to the North American subsidiary of LG Electronics, on the 13th, they signed a partnership with Atomic Golf, […]

Musk's X Cancels Partnership With Former CNN Anchor 2024.03.15 X decided not to establish a commercial partnership after careful review.Musk’s “lack of authenticity in CNN’s approach on social media.” The social media X (former Twitter), owned by Tesla CEO EloSocials, abruptly canceled its partnership with Don Lemon, a former CNN anchor. According to CNBC in the US, Lemon was informed of this decision on […]

Next Generation Fighter: KAI Unveils Plans for Single-Seat FA-50 Development 2024.03.15 Will KAI Build a Single-Seat Fighter F-50?Investing $29.7 million in FA-50 Single-Seater Development Korea Aerospace Industries (KAI) announced at a board meeting held on the 7th that it will invest $29.7 million in developing a single-seat FA-50 light attack aircraft. KAI plans to expand its portfolio by developing a single-seat version of the FA-50, KAI’s […]

Ørsted Strikes Deal to Sell Stake in Four U.S. Wind Farms for $300 Million 2024.03.14 Danish energy company Ørsted is selling its stake in U.S. wind farms. Ørsted announced on Wednesday that it had agreed to sell its stake in four U.S. onshore wind farms with a total capacity of 957 megawatts (MW) to investment group Stonepeak for approximately $300 million. Ørsted said, “Through this transaction, we have been able […]

AT&T Partners with Occidental's 1PointFive for Carbon Credit Purchase 2024.03.14 AT&T, the largest telecommunications company in the United States, is set to contract carbon credits with 1PointFive, a carbon capture company of Occidental Petroleum. 1PointFive announced on the 13th that AT&T has agreed to purchase carbon credits as part of its goal to reduce and neutralize carbon emissions from global operations by 2035. 1PointFive is […]

Shell Slashes Trading Team: 20% Workforce Reduction Signals Cost-Cutting Strategy 2024.03.14 The world’s second-largest oil company, Royal Dutch Shell of the United Kingdom, is laying off employees. According to an anonymous source on the 13th (local time), Shell plans to cut at least 20% of its trading team employees while restructuring its business units to save costs. The source revealed that Shell had informed hundreds of […]

Hyundai's Solaris Reimagined: A New Chapter in Russian Automotive History 2024.03.14 Hyundai’s compact sedan model, Solaris, has been reborn as a Russian car brand. Four models are produced locally under the Solaris brand, simply rebranded versions of existing Hyundai and Kia models. According to the industry, on the 14th, AGR Automotive Group started producing four types of Solaris brand vehicles, HS, HCR, KRS, and KRX, at […]

IIHS Study Finds Driver Attention Systems Falling Short in Safety Standards 2024.03.14 According to a study by the Insurance Institute for Highway Safety (IIHS), most electronic systems that perform some driving tasks for humans do not adequately check if the driver is paying attention, do not issue strong enough warnings, or do not take other measures to prompt the driver to act. Of the 14 partially automated […]

Future is Here: Waymo Unveils Fully Autonomous Ride-Hailing in LA 2024.03.14 Waymo, the autonomous driving division of Google’s parent company Alphabet, announced that it will begin offering a fully autonomous ride-hailing service to the general public in Los Angeles starting March 14, 2024, and plans to launch in Austin, Texas, by the end of this year. Waymo has been testing its Level 4 autonomous ride-hailing service […]

Toyota Tops U.S. Patent Office Rankings for Car Brands 2024.03.14 On March 12, 2024, Toyota’s U.S. branch announced that it obtained the most patents among car manufacturers from the U.S. Patent and Trademark Office (USPTO) in 2023. Toyota added that it secured the most patents as a car manufacturer for ten consecutive years. Although the total number of patents across all industries decreased by 3% […]

Next Generation Presidential Helicopter: Lockheed vs. Bell vs. Leonardo vs. Airbus 2024.03.14 It seems the Lockheed Martin Sikorsky S-92A+ and Bell’s B 525 are set to compete with Italy’s Leonardo AW-101 and the European Airbus Helicopters H225M 17 years after the deployment of three VH-92 presidential helicopters in 2007, the military authorities are set to embark on the inauguration of a successive helicopter. The previous VH-92 model […]

Moody's Downgrades China's Vanke Amid Real Estate Sector Concerns 2024.03.13 A construction site of Vanke in Shanghai, China. Reuters-Yonhap Moody’s, an international credit rating agency, has downgraded Vanke, China’s second-largest real estate developer’s credit rating to “non-investment grade.” According to Bloomberg News, on the 11th (local time), Moody’s announced that it had downgraded Vanke’s rating from the lowest investment grade, Baa3, to the non-investment grade, […]

China Copper Explores Overseas Investments to Alleviate Copper Supply Constraints 2024.03.13 China Copper, a subsidiary of the Aluminum Corporation of China (Chalco), is turning to overseas copper mine development to overcome the shortage of copper supply in China. Xiong Weiping, the CEO of Chalco, said in an interview with Reuters on the 11th (local time), “China Copper has launched an acquisition of overseas copper mines as […]

BYD Founder Wang Chuanfu Faces Crisis Over Alleged Extramarital Affair 2024.03.13 Chairman Wang Chuanfu of BYD, a major Chinese electric vehicle company, is recently rumored to have illegitimate children in the United States—/Search engine Baidu. Wang Chuanfu, 58, founder of BYD, a major Chinese electric vehicle company comparable to Elon Musk’s Tesla, is suddenly embroiled in rumors of having illegitimate children in the United States, facing […]

Elon Musk to Open-Source AI Chatbot Grok, Raising Pressure on OpenAI 2024.03.13 Details of what will be open-sourced have not yet been disclosed Elon Musk, CEO of Tesla, announced on the 11th (local time) on his social media platform X (formerly Twitter) that he plans to release the source of the AI chatbot Grok this week, according to The Wall Street Journal (WSJ). The article did not […]

Pentagon Initiates Efforts to Develop Domestic Rare Earth Element Supply 2024.03.13 The U.S. Department of Defense is taking steps to establish a supply chain for rare earth permanent magnets to reduce dependence on China and secure its domestic supply network. Laura D. Taylor-Kale, Assistant Secretary of Industrial Policy, stated on the 11th, “We have been working to secure the supply chain for rare earth elements needed […]

Grayscale Seeks SEC Approval for Mini Bitcoin ETF to Attract Investors 2024.03.13 The world’s largest cryptocurrency operator, Grayscale Investments, is set to introduce a mini Bitcoin spot exchange-traded fund (ETF) with lower commissions. This move is seen as a strategic step to reclaim the market dominance from competitors like BlackRock and Fidelity. According to Reuters and other sources, on the 13th, Grayscale applied to the U.S. Securities […]

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