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business Archives - Page 23 of 28 - ViewusGlobal

#business (550 Posts)

  • Airbus Workers in Canada Propose New Deal, Company Willing to Negotiate Airbus Canada factory workers are proposing another negotiation. According to an official, amidst declining productivity at the Montreal factory, which is gearing up to increase the assembly of Airbus’s smallest commercial jet, they were considering a new contract proposal by Airbus workers. According to Reuters, Airbus and the union failed to reach an agreement after […]
  • Microsoft Breaks Up Office Suite: Teams Available Separately Worldwide Microsoft is selling its chat and video application Teams separately. On the 1st, Microsoft announced it would sell Microsoft Teams separately worldwide, six months after separating the two products in Europe to avoid the European Union’s (EU) antitrust fines. According to a Microsoft post, it will introduce new commercial Microsoft 365 and Office 365 suites, […]
  • Citigroup's NYC Layoffs: 430 Employees to Go in June Citigroup is now embarking on a massive layoff in New York. On the 1st, Citigroup announced in documents submitted to the Department of Labor that it would lay off 430 employees across multiple departments in New York. According to the documents, the layoffs will target 363 Citibank employees and include employees from the technology and […]
  • Russia's Baltika Slaps Carlsberg Subsidiaries with $900 Million Damage Claim Baltika and Carlsberg of Russia are currently in a dispute over licensing issues. On the 1st (local time), a Russian court revealed that Baltika Brewery in Russia had claimed damages equivalent to 6.24 billion Danish crowns ($897 million) from four Carlsberg subsidiaries. After Moscow seized and took over Baltika, a subsidiary of Carlsberg in Russia, […]
  • Xiaomi Sparks Electric Car Price War in China Xiaomi’s electric vehicle SU7 priced at around $33,000Price reduction for Nio’s luxury SUV after announcementXiaopeng lowered the price of P7i’s top model The Chinese electric vehicle market has plunged into a full-scale price war. Starting with Xiaomi, competing brands are reducing prices one after another. On the 31st, Yonhap News reported, citing Chinese economic media […]
  • Inside George Soros' Portfolio: His Top 8 Stock Picks The top eight stocks held by George Soros, often referred to as a legend in hedge funds, have been revealed. According to Yahoo Finance on the 30th, George Soros’s top eight stocks in his portfolio are Liberty Broadband Corporation, CRH, American Equity Investment Life Holding Company, Amazon, Booking Holdings, Jacobs Solutions, Uber Technologies, and Accenture. […]
  • 9 Noteworthy Stocks in Bill Gates' Portfolio Walmart, FedEx, and Schrödinger are included Nine notable stocks from billionaire Bill Gates’ portfolio have been revealed. According to Yahoo Finance on the 30th, the nine stocks are Caterpillar, Deere & Company, Ecolab, Coca-Cola Femsa S.A.B., Walmart, FedEx Corporation, Waste Connections, Schrödinger, and Crown Castle International. Gates holds a stake in Caterpillar, a construction machinery […]
  • AT&T Resets Passwords for Millions: Customers Alerted to Data Breach AT&T has recently begun to notify millions of customers about personal data theft that has been discovered online. AT&T announced on the 30th (local time) that sets of data found on the dark web include personal information such as the social security numbers of about 76 million current AT&T account owners and about 65.4 million […]
  • Canada Tightens Review of Foreign Investment in AI and Quantum Computing [TheGuru=Sungil Hong] The Canadian government is strengthening its review of foreign capital investments. The move is being analyzed as a step in line with the United States' efforts to curb China. According to industry reports on the 31st, the Canadian government has decided to conduct a strict review of foreign investment proposals in sensitive sectors. The Canadian government released a statement to that effect on Sept. 26 (local time). The move is in response to the recent amendments to the Investment Canada Act. The revised Investment Canada Act requires foreign companies that want to acquire companies in sensitive sectors to notify the Canadian government before the deal is finalized. The sensitive sectors identified by the Canadian government include artificial intelligence (AI), quantum computing, and space technology. Under the enhanced measures, the Canadian government can restrict access to foreign investors seeking to acquire companies in these sectors during the review period. Even if the acquisition is finalized, investors may not have access to the acquired company's data and assets. China has been blamed for the Canadian government's tightening of the review process, which had been open to foreign investment. In fact, last year, the Canadian government ordered Chinese investors to divest their stakes in three lithium companies. Industry analysts believe that Canada is following in the footsteps of the United States, which is wary of China's growing influence. The Canadian government has also mentioned the possibility of expanding the scope of the regulation to other sectors in the future, so the scope of the regulation will be closely watched...
  • U.S. House of Representatives Bans Use of Microsoft's AI Copilot Reuters reported on the 30th (local time) that the U.S. House of Representatives has strictly prohibited congressional staff from using Microsoft’s Copilot AI assistant. Catherine Szpindor, the chief administrative officer of the U.S. House of Representatives, said, “The Microsoft Copilot application has been deemed dangerous by the Cyber Security Bureau due to the threat of […]
  • Goldman Sachs Predicts $32 Billion Stock Sell-Off by US Pension Funds Global investment bank Goldman Sachs has projected a massive stock sell-off by U.S. pension funds, interpreted as a portfolio readjustment. Analysts from Goldman Sachs’ FICC (Fixed Income, Currency, and Commodities) and Equity team stated on the 31st (local time) through an investment note that “We expect pension funds to sell off stocks worth $32 billion […]
  • Xinhua Denies Speculations of Foreign Investment Decline in China [TheGuru=Hong Seong-hwan] China's state-run Xinhua News Agency has refuted speculation that foreign companies are pulling out of China. According to the Korea Institute for Foreign Economic Policy, Xinhua refuted the pullout theory in a commentary on Nov. 21, citing the increasing number of stores in China by large food and beverage companies such as KFC, McDonald's, and Starbucks, Apple's announcement of plans to invest more in the country, GE Healthcare's doubling of R&D investment in China, and AstraZeneca's announcement of a $475 million investment plan. "Foreign capital shows that China is still a fertile ground for foreign investment and business," Xinhua said, "proving that the exaggerated claims by some Western media that there are no more opportunities in the Chinese market are not true." "The State Council issued the 'Action Plan for Expanding the Attraction and Utilization of Foreign Capital through Higher Openness to the World' to expand the market access of foreign capital and increase the degree of freedom for foreign investment, demonstrating China's willingness and action to share development opportunities with the world," Xinhua said. According to the "International Balance of Payments for 2023" released by the State Administration of Foreign Exchange on March 18, foreign direct investment in China totaled $30 billion last year. That's down 82 percent from the previous year. The $27.5 billion was the lowest level since 1993, when it was recorded, Bloomberg analyzed. It's less than a tenth of the $344.1 billion in 2021, when it peaked...
  • Elon Musk's X Ventures into Adult Content: Testing NSFW Feature X (formerly Twitter), a social networking service, is testing a community feature focused on adult content or inappropriate posts that are sexual or violent (Not Safe For Work·NSFW), Bloomberg reported on the 29th. A researcher from Watchful, an app development tracking company, recently revealed screenshots indicating that X is developing this feature. According to Watchful, […]
  • Short-Form Drama Fever Sweeps Through TikTok's Homeland, China [The Guru=Reporter Hong Sung IL] In China, where TikTok (known locally as Douyin) has created a global short-form content craze, even dramas, traditionally long-form content, are produced in short-form. The short-form drama market is rapidly expanding and showing signs of profitability. On the 22nd, KOTRA’s Chongqing Trade Center introduced the current state and prospects of […]
  • Netmarble’s U.S. Subsidiary Jam City Hires Additional Employees in the U.S. And Uruguay Additional hiring amid mass layoffs in the global gaming industry Jam City, the United States subsidiary of Netmarble, is on a hiring spree in the U.S. and Uruguay despite the storm of massive layoffs sweeping the global gaming industry. The company’s expansion of its workforce is drawing attention. According to industry sources, on the 29th, […]
  • China's BYD Hits a High: Records $4 Billion Profit Amid EV Boom BYD, China's largest electric vehicle company, posted record operating profit last year. BYD's revenue last year was CNY602.15 billion (USD11.17 trillion), up 42.04% year-on-year, and operating profit was CNY30.41 billion (USD5.6 trillion), up 8 China's largest electric vehicle company BYD achieved record operating profit last year. BYD's revenue last year was CNY602.15 billion (USD11.17 trillion), an increase of 42...
  • Smilegate Barcelona Closes With All Employees Laid Off Smilegate’s first overseas game development studio, Smilegate Barcelona, has closed its doors. The global gaming industry’s restructuring winds are also affecting Korean game companies. Stephane Blais, former World Director of Smilegate Barcelona, announced on LinkedIn on the 27th (local time) that “Smilegate Barcelona is closing its doors. All staff are being laid off.” Edouard Albert, […]
  • Moderna Secures $750 Million in Funding to Develop a Flu Vaccine, Backed by Blackstone Life Sciences Moderna is developing a flu vaccine with an investment from Blackstone Life Sciences, a Blackstone life science investment platform. On the 27th (local time), Moderna announced that it had signed a $750 million financing agreement with Blackstone Life Sciences to develop an mRNA flu vaccine. Moderna stated that Blackstone Life Sciences will receive commercial milestone […]
  • Valkyrie CIO Predicts Ripple ETF Approval Ahead of Ethereum [Dugguru=Sung-Hwan Hong] It has been observed that a Ripple (XRP) spot exchange traded fund (ETF) is likely to be approved before an Ethereum (ETH) spot ETF. It will be interesting to see if global managers will start to launch Ripple spot ETFs. "I don't think an Ethereum spot ETF will be approved in May because I believe that Ethereum can be a security," said Stephen McClurg, co-founder and chief investment officer of Valkyrie Investments, in a conversation with a reporter from U.S. financial media Fox Business, according to industry sources. "I think it's more likely that Ripple or Litecoin (LTC) will be approved before Ethereum." However, no manager has yet formalized the launch of a Ripple or Litecoin spot ETF. Seven asset managers, including BlackRock, Fidelity, Ark Investments, and Grayscale, have filed to list an Ethereum spot ETF. The U.S. Securities and Exchange Commission (SEC) is expected to make a decision on May 23 on whether to approve ETH spot ETFs. The market is betting that an ETH spot ETF is unlikely to be approved. This is because unlike Bitcoin, which is proof-of-mining (POW), Ethereum is proof-of-stake (POS), which raises ongoing securities issues. Eric Balchunas, an ETF analyst at Bloomberg, previously put the likelihood of an ETH spot ETF approval at 70% in January, but recently downgraded it to 30%. "The approval process for an ETH spot ETF is different from that for a bitcoin spot ETF," he explained, "and we've lowered our odds of approval given the lack of progress with more than 70 days to go before the deadline."
  • Trump's Truth Social Rockets on Wall Street: A 10% Surge Marks Day Two The stock price of Trump Media & Technology Group (TMTG), the parent company of the social media platform Truth Social, founded by former U.S. President Donald Trump, has seen a substantial rise for two consecutive days following its debut on the New York Stock Exchange. According to the Wall Street Journal, on the 27th, TMTG’s […]
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