Italy Slams TikTok with $10.8 Million Fine Over Minor Safety BreachPhoto=AFP Yonhap News Italian authorities have fined TikTok, the Chinese short-form video platform, 10 million euros (approximately $10.8 million) for failing to protect minors from harmful content. Meanwhile, in the United States Congress, passing a “bill that could ban TikTok,” justified on the grounds of national security, is gaining momentum, intensifying the Western restriction on […]
Argentina's 'Trump' Milei Triggers Credit Rating Plunge: What's Next?"Bloomberg reported on the 13th (local time) that credit rating agency S&P has downgraded Argentina’s credit rating from “CCC—” to “Selective Default or SD.” The downgrade was attributed to President Javier Milei, known as “Argentina’s Donald Trump,” ordering a bond swap. The Argentine government previously implemented a policy to exchange peso-denominated bonds worth $65 billion […]
Musk's X Cancels Partnership With Former CNN AnchorX 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 […]
Ørsted Strikes Deal to Sell Stake in Four U.S. Wind Farms for $300 MillionDanish 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 PurchaseAT&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 StrategyThe 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 […]
Toyota Tops U.S. Patent Office Rankings for Car BrandsOn 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% […]
China Copper Explores Overseas Investments to Alleviate Copper Supply ConstraintsChina 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 […]
Elon Musk to Open-Source AI Chatbot Grok, Raising Pressure on OpenAIDetails 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 […]
Grayscale Seeks SEC Approval for Mini Bitcoin ETF to Attract InvestorsThe 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 […]
Income Inequality Soars: Top 10% Earn 76 Times More Than Bottom 10%Annual income of the top 0.1% of total income is $1.5 million According to a survey, the gap between the top 10% and the bottom 10% of total income is 76 times. The weekly report “Numbers” No. 229 from the Ministry Data Research Institute on February 27th presented a survey result titled “Polarization of Total […]
Crypto Fever: Bitcoin Hits New Highs, Ethereum Tops $4,000, Altcoins RallyBitcoin has ushered in the era of $72,000. As of the 12th, Bitcoin is trading at about $77,321 on UPbit. According to the cryptocurrency statistics site CoinGecko, at 9:40 a.m. on the 12th, Bitcoin traded at $72,251.69 (the average of the main exchanges), up 4.5% from the previous day. Ethereum was up 6.0% to $4,076.58, […]
Last North Korean Restaurant in Vietnam Shuts Down Amid COVID FalloutThe scene of a Koryo restaurant in Hanoi, Vietnam, closed on the 4th. With the withdrawal of the last North Korean restaurant, the Koryo restaurant, there are no longer any North Korean restaurants left in Vietnam/Hanoi correspondent Jung Ri Na The last North Korean restaurant in Vietnam has closed its doors and withdrawn. According to […]
Amazon Steps Up E-commerce Game with AI Shopping AssistantAnalysts predict that Amazon will upgrade its online shopping and data competitiveness in the age of generative AI. Park Yeon Ju, a researcher at Mirae Asset Securities, said, “The introduction of advanced generative AI technology in the next 2-3 years is expected to alleviate various inconveniences that users experience during online shopping, accelerating the growth […]
Gaeseong Industrial Complex Foundation to be Dissolved Next WeekYonhap News The government plans to announce an enforcement decree next week to dissolve the Gaeseong Industrial District Foundation. Since its establishment in 2007, following the launch of the Kaesong Industrial Region in 2004, the foundation has been supporting the entry permit process, access control, labor, and facility management of companies in the complex. On the 11th, Koo Byung […]
Alaska Airlines Collaborates with DOJ in Probe of Boeing 737 MAX IncidentAlaska Airlines is cooperating with the U.S. Department of Justice (DOJ) to investigate the Boeing 737 Max explosion incident. Reuters reported on the 10th that Alaska Airlines has been cooperating with the DOJ since a criminal investigation into the Boeing 737 Max airplane explosion incident began. In a statement to Reuters, Alaska Airlines said, “It […]
U.S. to Restrict Sale of Strategic Petroleum Reserves to ChinaThe U.S. Congress is pushing for a measure to prohibit the sale of strategic petroleum reserves to China. According to industry sources, on the 10th, U.S. bipartisan leaders agreed on the 3rd to continue operating a significant portion of government functions until the end of the fiscal year 2023 (October 2023 to September 2024) to […]
Egypt's Inflation Rate Reaches 35.7% in FebruaryEgypt’s annual inflation surged in February. According to Capmas statistics on the 10th (local time), Egypt’s annual urban consumer price inflation surged from 29.8% in January to 35.7% in February, fueled by rising food and beverage prices. The central bank stated that core inflation, excluding fuel and some volatile foods, rose from 29% in January […]
Costco's Q2 Sales Slightly Below Expectations, But EPS Exceeds: Hold for NowWith Costco’s (COST) second-quarter earnings per share (EPS) exceeding market expectations, advice suggested that the stock should be held, even amidst valuation concerns. Costco’s sales for the second quarter of the fiscal year 2024 (November 27, 2023 – February 18, 2024, 12 weeks) increased by 5.7% from the previous year to $58.4 billion. The GAAP-based […]
Elon Musk's X Faces Music Copyright Infringement LawsuitsYonhap News Social media platform X (formerly Twitter), acquired by Elon Musk, is potentially facing a payout of over 300 billion won (approximately $227 million) for allegedly neglecting music copyright infringement. According to a report by CNN Business on the 6th, Judge Aleta Trauger of the U.S. District Court in Tennessee has allowed the trial […]
Italy Slams TikTok with $10.8 Million Fine Over Minor Safety Breach Photo=AFP Yonhap News Italian authorities have fined TikTok, the Chinese short-form video platform, 10 million euros (approximately $10.8 million) for failing to protect minors from harmful content. Meanwhile, in the United States Congress, passing a “bill that could ban TikTok,” justified on the grounds of national security, is gaining momentum, intensifying the Western restriction on […]
Argentina's 'Trump' Milei Triggers Credit Rating Plunge: What's Next?" Bloomberg reported on the 13th (local time) that credit rating agency S&P has downgraded Argentina’s credit rating from “CCC—” to “Selective Default or SD.” The downgrade was attributed to President Javier Milei, known as “Argentina’s Donald Trump,” ordering a bond swap. The Argentine government previously implemented a policy to exchange peso-denominated bonds worth $65 billion […]
Musk's X Cancels Partnership With Former CNN Anchor 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 […]
Ørsted Strikes Deal to Sell Stake in Four U.S. Wind Farms for $300 Million 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 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 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 […]
Toyota Tops U.S. Patent Office Rankings for Car Brands 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% […]
China Copper Explores Overseas Investments to Alleviate Copper Supply Constraints 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 […]
Elon Musk to Open-Source AI Chatbot Grok, Raising Pressure on OpenAI 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 […]
Grayscale Seeks SEC Approval for Mini Bitcoin ETF to Attract Investors 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 […]
Income Inequality Soars: Top 10% Earn 76 Times More Than Bottom 10% Annual income of the top 0.1% of total income is $1.5 million According to a survey, the gap between the top 10% and the bottom 10% of total income is 76 times. The weekly report “Numbers” No. 229 from the Ministry Data Research Institute on February 27th presented a survey result titled “Polarization of Total […]
Crypto Fever: Bitcoin Hits New Highs, Ethereum Tops $4,000, Altcoins Rally Bitcoin has ushered in the era of $72,000. As of the 12th, Bitcoin is trading at about $77,321 on UPbit. According to the cryptocurrency statistics site CoinGecko, at 9:40 a.m. on the 12th, Bitcoin traded at $72,251.69 (the average of the main exchanges), up 4.5% from the previous day. Ethereum was up 6.0% to $4,076.58, […]
Last North Korean Restaurant in Vietnam Shuts Down Amid COVID Fallout The scene of a Koryo restaurant in Hanoi, Vietnam, closed on the 4th. With the withdrawal of the last North Korean restaurant, the Koryo restaurant, there are no longer any North Korean restaurants left in Vietnam/Hanoi correspondent Jung Ri Na The last North Korean restaurant in Vietnam has closed its doors and withdrawn. According to […]
Amazon Steps Up E-commerce Game with AI Shopping Assistant Analysts predict that Amazon will upgrade its online shopping and data competitiveness in the age of generative AI. Park Yeon Ju, a researcher at Mirae Asset Securities, said, “The introduction of advanced generative AI technology in the next 2-3 years is expected to alleviate various inconveniences that users experience during online shopping, accelerating the growth […]
Gaeseong Industrial Complex Foundation to be Dissolved Next Week Yonhap News The government plans to announce an enforcement decree next week to dissolve the Gaeseong Industrial District Foundation. Since its establishment in 2007, following the launch of the Kaesong Industrial Region in 2004, the foundation has been supporting the entry permit process, access control, labor, and facility management of companies in the complex. On the 11th, Koo Byung […]
Alaska Airlines Collaborates with DOJ in Probe of Boeing 737 MAX Incident Alaska Airlines is cooperating with the U.S. Department of Justice (DOJ) to investigate the Boeing 737 Max explosion incident. Reuters reported on the 10th that Alaska Airlines has been cooperating with the DOJ since a criminal investigation into the Boeing 737 Max airplane explosion incident began. In a statement to Reuters, Alaska Airlines said, “It […]
U.S. to Restrict Sale of Strategic Petroleum Reserves to China The U.S. Congress is pushing for a measure to prohibit the sale of strategic petroleum reserves to China. According to industry sources, on the 10th, U.S. bipartisan leaders agreed on the 3rd to continue operating a significant portion of government functions until the end of the fiscal year 2023 (October 2023 to September 2024) to […]
Egypt's Inflation Rate Reaches 35.7% in February Egypt’s annual inflation surged in February. According to Capmas statistics on the 10th (local time), Egypt’s annual urban consumer price inflation surged from 29.8% in January to 35.7% in February, fueled by rising food and beverage prices. The central bank stated that core inflation, excluding fuel and some volatile foods, rose from 29% in January […]
Costco's Q2 Sales Slightly Below Expectations, But EPS Exceeds: Hold for Now With Costco’s (COST) second-quarter earnings per share (EPS) exceeding market expectations, advice suggested that the stock should be held, even amidst valuation concerns. Costco’s sales for the second quarter of the fiscal year 2024 (November 27, 2023 – February 18, 2024, 12 weeks) increased by 5.7% from the previous year to $58.4 billion. The GAAP-based […]
Elon Musk's X Faces Music Copyright Infringement Lawsuits Yonhap News Social media platform X (formerly Twitter), acquired by Elon Musk, is potentially facing a payout of over 300 billion won (approximately $227 million) for allegedly neglecting music copyright infringement. According to a report by CNN Business on the 6th, Judge Aleta Trauger of the U.S. District Court in Tennessee has allowed the trial […]
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