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business Archives - Page 25 of 28 - ViewusGlobal

#business (550 Posts)

  • Iran's Currency Crisis: Rial Hits Record Low as Diplomatic Tensions Soar Amid Persian New Year celebrations, Iran’s currency plummeted to an all-time low of 613,500 rials per dollar on March 24th. On the last working day before the March 18th holiday, it was 590,000 rials per dollar. The exchange rate significantly affects other markets, including housing and rentals. Many Iranians have seen their life savings evaporate […]
  • McDonald's Pulls Out of Sri Lanka: Closes All 12 Stores Following Contract Termination A lawyer for McDonald’s Sri Lanka announced on the 24th (local time) that McDonald’s has terminated its contract with its regional partner in Sri Lanka and has closed all 12 of its stores in the country. Sanath Wijewardane, a spokesperson for McDonald’s, said, “McDonald’s has decided to terminate its contract with the franchisee due to […]
  • China Eases Data Export Restrictions to Attract Foreign Investment Chinese authorities have decided to ease some rules on companies sending data abroad. This change seems like a reaction to complaints that several rules, like data export limits and security steps, have been too much for foreign investors. It’s led some to leave China altogether. On March 24th (local time), Chinese media outlets like the […]
  • From Virtual Try-Ons to Smart Mirrors: The Latest in US Beauty Tech The winds of technological innovation are blowing strongly in the American beauty industry. According to analysts, the American beauty tech market is expected to grow rapidly, but there are still many challenges to overcome. On the 23rd, the KOTRA Los Angeles Trade Office introduced the current status and prospects of the American beauty tech market […]
  • Analysts Warn of BYD's Vulnerabilities in Global Market Due to Brand Image Amidst the rapid growth of Chinese electric car manufacturer BYD in its unique domestic market, analysts warn that its expansion strategy is beginning to reveal its limitations amid increased global competition in the electric vehicle industry. The Korea Automobile Research Institute released a report titled ‘The Light and Shadow of BYD’s Global Expansion Strategy’ on […]
  • U.S.-China Relations in Focus: Yellen's Strategic Visit to Address Overproduction Scheduled next month, U.S. Treasury Secretary Janet Yellen is poised to embark on high-level talks in China, focusing on managing U.S.-China relations. This visit marks her first trip to China in nine months, coinciding with rising concerns in global markets about China’s industrial overproduction. Politico reported on March 24th that Yellen will meet with high-ranking officials […]
  • Federal Reserve Chair Powell Cautious on Long-Term Outlook Despite Interest Rate Hike Federal Reserve officials raised the long-term target interest rate on March 20th (local time). However, Jerome Powell stated that this does not necessarily signal a continuous rate increase. The current target rate is between 5.25% and 5.50%, with a forecasted rate cut of 0.75% this year. The administrators have raised the long-term forecast for the […]
  • Nvidia CEO Jensen Huang Gives Handwritten Approval to Samsung's HBM3E at GTC 2024 Jensen Huang, CEO of Nvidia, visited Samsung Electronics’ booth at ‘GTC 2024’ and left a handwritten approval for their 5th generation high-bandwidth memory ‘HBM3E’ 12-layer product. Previously, Huang had announced through a global media briefing that he had tested Samsung’s HBM and had high expectations. This handwritten approval from CEO Huang is interpreted as an […]
  • Ruble Holds Steady: All Eyes on Interest Rate Decision Russian Ruble. (Photo=Yonhap News) The Russian ruble is showing signs of stability. On the 21st (local time), the Russian ruble showed stability, boosted by high oil prices, ahead of the central bank meeting on Friday. The central bank is expected to maintain the interest rate at 16% for the second consecutive meeting. The ruble traded […]
  • Chevron Settles Record $13 Million Fine Over California Oil Spills The energy giant Chevron is to pay a fine in California. Chevron has agreed on the 21st (local time) to pay a fine of over $13 million for dozens of oil spill incidents in California in the past, marking the largest fine ever imposed on the company. David Shabazian, Director of the California Department of […]
  • Apple Faces Antitrust Probe from U.S. and EU Authorities, Threatened with Sanctions Apple Faces Sanctions from U.S. and European Regulatory AuthoritiesCompeting in the Market with Advanced Technology Apple, the manufacturer of the iPhone, is now under sanctions from U.S. and European regulatory authorities. Apple’s closed ecosystem has come under scrutiny. According to the Financial Times, on the 21st (local time), the U.S. Department of Justice and 16 […]
  • Chinese Millennials Seek Fortune in Lottery Amid Economic Uncertainty Lottery sales in China hit a record high last year, and the game is gaining popularity. Analysts suggest that Chinese youths, struggling with the most severe unemployment crisis ever, are buying lottery tickets to vent societal frustrations and pinning their hopes on striking it rich overnight. According to a Bloomberg report on the 21st, citing […]
  • Mondelez Resilient in Face of Price Hikes: Sales Stay Strong American confectionery company Mondelez (MDLZ) continues to see steady sales despite price increases. Mondelez has implemented price hikes in key regions such as Europe and Latin America. However, the company is believed to be defending against a decrease in sales volume based on brand loyalty. “The company is proactively responding to offset the cost burden […]
  • Hyundai, Kia's Record Sales Streak Overshadowed by EPA's Fuel Economy Blow Hyundai Motor and Kia are readjusting the fuel economy ratings for some models sold in the United States. Following fuel economy tests by local environmental authorities, it was pointed out that the mileage ratings needed to be lowered. This is the first time in 24 years that vehicle fuel economy ratings have been changed due […]
  • Sanctions Showdown: U.S., EU, and China Clash Impacts Western Firms As Western countries and China engage in a tit-for-tat sanction battle, escalating tensions, the business environment for American and European Union (EU) companies operating in China is becoming increasingly challenging. Particularly among European companies, there is growing discontent that government regulations are overly focused on, which diminishes the competitiveness of their own businesses. According to […]
  • Apple's CEO Tim Cook Hits the Ground in China: Here's Why Tim Cook of Apple has finally made a personal visit due to a slowdown in sales in China. Apple CEO Tim Cook met with suppliers, including Biel Crystal, on the 20th as sales in China decreased, emphasizing China’s importance in the supply chain. Cook revealed on his SNS post that he enjoyed a local breakfast […]
  • NVIDIA Boosts Collaboration with Chinese Carmakers: BYD, Xiaopeng, and More Photo=BYD NVIDIA announced on the 18th at the opening of the annual developers’ conference, GTC (GPU Technology Conference) 2024 that it is expanding its cooperation with Chinese automakers like BYD. According to a Securities Times report, they will provide the next-generation vehicle chip “DriveThor” for BYD vehicles next year. DriveThor is a car computer that […]
  • BAE Systems Plans $4 Billion Bond Sale for Ball Aerospace Acquisition British defense company BAE Systems is preparing to sell corporate bonds to finance the acquisition of Ball Aerospace. According to an insider, as of the 18th (local time), BAE Systems is recruiting investors to sell corporate bonds that could exceed $4 billion to refinance the bridge loan used to acquire Ball Aerospace. The final size […]
  • Saudi Arabia Unleashes $40 Billion Blitz in Global AI Race Saudi Arabia plans to invest approximately $40 billion in the artificial intelligence (AI) industry. Major governments worldwide are racing to increase their investments to gain an edge in AI supremacy. According to the New York Times and other sources, on the 20th, Saudi Arabia plans to establish a $40 billion fund to invest in AI. […]
  • NVIDIA Unveils Next-Generation AI-Enhanced Humanoid Robots [AlphaEconomy=(Chicago) Kim Jisun Correspondent] Nvidia has unveiled a humanoid robot with AI capabilities. Nvidia announced a hardware and software platform for building human-like robots, including generative AI capabilities...
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