Pay Gap between CEO and Employees Widens at ChevronThe 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, […]
Italy to Invest $1.1 Billion in AI Over the Next Five YearsItaly 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 […]
U.S. Lawmakers Strike Deal on Data Privacy BillThe draft of an online privacy protection bill has finally been submitted to the U.S. Congress. Two major U.S. lawmakers announced on the 7th (local time) that they had agreed on a bipartisan draft data privacy bill that would limit the consumer data tech companies can collect, prevent them from selling it to Americans, and […]
China's EHang Receives First-ever Approval for Drone Taxi ProductionWorld’s first production certification for EHangMP commercialization will accelerateA $260 bn low-altitude economy is expected by 2026 EHang, a leading Chinese Urban Air Mobility (UAM) company, is on the verge of a groundbreaking leap into commercialization with the approval for mass production of its revolutionary drone taxi, marking a historic global milestone. According to China’s […]
US Bolsters Semiconductor Production with Massive TSMC FundingThe 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 […]
Wingtip Collision at Heathrow: Virgin Atlantic Jet and Parked Plane InvolvedA plane collision occurred at Heathrow Airport, the busiest in the UK. British Airways reported on the 6th (local time) that the wingtip of an empty Virgin Atlantic jet collided with a stationary passenger plane at London’s Heathrow Airport. Heathrow Airport has stated that no passenger injuries have been reported and does not anticipate the […]
Paramount Global Considers Potential Acquisition of Skydance for $5 BillionA 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 CaliforniaTesla 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 CheckThe 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 […]
FAA Investigates Southwest Airlines Incident: Engine Falls Off Boeing 737-800 Mid-FlightSouthwest Airlines is experiencing repeated returns to the airport. The Federal Aviation Administration (FAA) in the United States announced on the 7th (local time) that it would investigate an incident in which a Southwest Airlines Boeing 737-800 engine fell off during takeoff and hit the wing flap, originating from Denver. Flight Southwest 3695, carrying 135 […]
South Korea Investigates AliExpress and Temu Over Data PrivacyThe government has investigated the data collection and usage practices of Chinese e-commerce companies like AliExpress and Temu, which are eroding the domestic market with ultra-low-cost policies. This comes as the U.S. Congress is pushing for a law to ban the use of the Chinese platform TikTok over fears of personal data leaks. The move […]
US Pressures Netherlands to Cease Maintenance of Chinese Semiconductor EquipmentThe Biden administration plans to persuade the Dutch government next week to block semiconductor equipment company ASML from providing equipment maintenance services to China. The administration’s push will extend beyond the Netherlands to Japan, Germany, and South Korea. According to Reuters on the 4th (local time), Alan Estevez, Under Secretary of Commerce for Industry and […]
Spotify to Appoint a New Chief Financial Officer from SaabSwedish music streaming company Spotify is appointing a new veteran Chief Financial Officer (CFO) to improve profitability. Spotify announced on the 4th (local time) that it had appointed Christian Luiga, the former CFO of Saab, as Paul Vogel’s successor. Vogel left in March after about eight years of service. For about four years, Luiga served […]
Tesla Raises AI Engineer Salaries in Fierce Tech CompetitionElon Musk, CEO of Tesla, announced that he is raising the salaries of artificial intelligence (AI) talent. This move comes amid fierce competition among global big tech companies to recruit AI professionals. According to the Wall Street Journal (WSJ), Musk conveyed this stance on his X (formerly Twitter) on the 4th (local time). In a […]
Alibaba's Chairman Daniel Zhang: 'We're Changing Global Perception'“Alibaba is not just a company trying to monopolize the market with cheap Chinese products. We are a global business, and we believe it’s important to change consumers’ perception worldwide.” According to the Chinese IT media outlet ZAKER on the 4th, Daniel Zhang, the chairman of China’s largest e-commerce company, Alibaba, made this statement in […]
Apple Faces Scrutiny Over Alleged Monopoly about In-app Payment Service in RussiaSigns of Apple violating antimonopoly regulations in Russia have been detected. The Federal Antimonopoly Service (FAS) in Russia sent a letter to Apple on the 4th (local time) asking why Russian users cannot utilize all banking and payment services functions while using Apple Inc. devices. The FAS stated that most Russian banks had been excluded […]
Boeing Compensates $160M to Alaska AirlinesBoeing has compensated Alaska Airlines for a plane incident that occurred last January. On the 4th, Alaska Airlines announced that Boeing paid approximately $160 million in the first quarter as an initial compensation to resolve the impact of the temporary landing of the 737 Max 9 jet. According to Alaska Airlines documents, this payment corresponds […]
Nvidia and PT Indosat Invest $200M in Building AI Center in IndonesiaNvidia is investing in the development of AI in Indonesia in collaboration with Indonesian telecom company PT Indosat. On the 4th (local time), the Indonesian Minister of Communications announced that Nvidia and Indosat planned to build a $200 million AI center in Central Java, Indonesia, by 2024. Indonesian Minister of Communication and Information Technology Budi […]
Samsung Wins Over Netlist in U.S. Patent BattleAfter disputes over memory semiconductor module patentsAll five cases raised by Netlist invalidated Samsung Electronics has won a patent invalidation lawsuit against American semiconductor company Netlist over memory semiconductor module patents. According to industry sources, on the 4th, the U.S. Patent Trial and Appeal Board (PTAB) ruled in favor of Samsung Electronics in two patent […]
Tesla's Big Move: Electric Car Giant Eyes IndiaFT said Tesla sent a team for a $2-3bn plantIndia’s lowered tariffs on imported electric vehicles spur Tesla to expand in IndiaTesla is facing challenges in EVs and a shrinking market share in ChinaWill Indian market entry be key to return? The electric vehicle company Tesla is gearing up to move strategically into the Indian […]
Pay Gap between CEO and Employees Widens at Chevron 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, […]
Italy to Invest $1.1 Billion in AI Over the Next Five Years 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 […]
U.S. Lawmakers Strike Deal on Data Privacy Bill The draft of an online privacy protection bill has finally been submitted to the U.S. Congress. Two major U.S. lawmakers announced on the 7th (local time) that they had agreed on a bipartisan draft data privacy bill that would limit the consumer data tech companies can collect, prevent them from selling it to Americans, and […]
China's EHang Receives First-ever Approval for Drone Taxi Production World’s first production certification for EHangMP commercialization will accelerateA $260 bn low-altitude economy is expected by 2026 EHang, a leading Chinese Urban Air Mobility (UAM) company, is on the verge of a groundbreaking leap into commercialization with the approval for mass production of its revolutionary drone taxi, marking a historic global milestone. According to China’s […]
US Bolsters Semiconductor Production with Massive TSMC Funding 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 […]
Wingtip Collision at Heathrow: Virgin Atlantic Jet and Parked Plane Involved A plane collision occurred at Heathrow Airport, the busiest in the UK. British Airways reported on the 6th (local time) that the wingtip of an empty Virgin Atlantic jet collided with a stationary passenger plane at London’s Heathrow Airport. Heathrow Airport has stated that no passenger injuries have been reported and does not anticipate the […]
Paramount Global Considers Potential Acquisition of Skydance for $5 Billion 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 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 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 […]
FAA Investigates Southwest Airlines Incident: Engine Falls Off Boeing 737-800 Mid-Flight Southwest Airlines is experiencing repeated returns to the airport. The Federal Aviation Administration (FAA) in the United States announced on the 7th (local time) that it would investigate an incident in which a Southwest Airlines Boeing 737-800 engine fell off during takeoff and hit the wing flap, originating from Denver. Flight Southwest 3695, carrying 135 […]
South Korea Investigates AliExpress and Temu Over Data Privacy The government has investigated the data collection and usage practices of Chinese e-commerce companies like AliExpress and Temu, which are eroding the domestic market with ultra-low-cost policies. This comes as the U.S. Congress is pushing for a law to ban the use of the Chinese platform TikTok over fears of personal data leaks. The move […]
US Pressures Netherlands to Cease Maintenance of Chinese Semiconductor Equipment The Biden administration plans to persuade the Dutch government next week to block semiconductor equipment company ASML from providing equipment maintenance services to China. The administration’s push will extend beyond the Netherlands to Japan, Germany, and South Korea. According to Reuters on the 4th (local time), Alan Estevez, Under Secretary of Commerce for Industry and […]
Spotify to Appoint a New Chief Financial Officer from Saab Swedish music streaming company Spotify is appointing a new veteran Chief Financial Officer (CFO) to improve profitability. Spotify announced on the 4th (local time) that it had appointed Christian Luiga, the former CFO of Saab, as Paul Vogel’s successor. Vogel left in March after about eight years of service. For about four years, Luiga served […]
Tesla Raises AI Engineer Salaries in Fierce Tech Competition Elon Musk, CEO of Tesla, announced that he is raising the salaries of artificial intelligence (AI) talent. This move comes amid fierce competition among global big tech companies to recruit AI professionals. According to the Wall Street Journal (WSJ), Musk conveyed this stance on his X (formerly Twitter) on the 4th (local time). In a […]
Alibaba's Chairman Daniel Zhang: 'We're Changing Global Perception' “Alibaba is not just a company trying to monopolize the market with cheap Chinese products. We are a global business, and we believe it’s important to change consumers’ perception worldwide.” According to the Chinese IT media outlet ZAKER on the 4th, Daniel Zhang, the chairman of China’s largest e-commerce company, Alibaba, made this statement in […]
Apple Faces Scrutiny Over Alleged Monopoly about In-app Payment Service in Russia Signs of Apple violating antimonopoly regulations in Russia have been detected. The Federal Antimonopoly Service (FAS) in Russia sent a letter to Apple on the 4th (local time) asking why Russian users cannot utilize all banking and payment services functions while using Apple Inc. devices. The FAS stated that most Russian banks had been excluded […]
Boeing Compensates $160M to Alaska Airlines Boeing has compensated Alaska Airlines for a plane incident that occurred last January. On the 4th, Alaska Airlines announced that Boeing paid approximately $160 million in the first quarter as an initial compensation to resolve the impact of the temporary landing of the 737 Max 9 jet. According to Alaska Airlines documents, this payment corresponds […]
Nvidia and PT Indosat Invest $200M in Building AI Center in Indonesia Nvidia is investing in the development of AI in Indonesia in collaboration with Indonesian telecom company PT Indosat. On the 4th (local time), the Indonesian Minister of Communications announced that Nvidia and Indosat planned to build a $200 million AI center in Central Java, Indonesia, by 2024. Indonesian Minister of Communication and Information Technology Budi […]
Samsung Wins Over Netlist in U.S. Patent Battle After disputes over memory semiconductor module patentsAll five cases raised by Netlist invalidated Samsung Electronics has won a patent invalidation lawsuit against American semiconductor company Netlist over memory semiconductor module patents. According to industry sources, on the 4th, the U.S. Patent Trial and Appeal Board (PTAB) ruled in favor of Samsung Electronics in two patent […]
Tesla's Big Move: Electric Car Giant Eyes India FT said Tesla sent a team for a $2-3bn plantIndia’s lowered tariffs on imported electric vehicles spur Tesla to expand in IndiaTesla is facing challenges in EVs and a shrinking market share in ChinaWill Indian market entry be key to return? The electric vehicle company Tesla is gearing up to move strategically into the Indian […]
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