Apple's CEO Tim Cook Hits the Ground in China: Here's WhyTim 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 MorePhoto=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 AcquisitionBritish 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 RaceSaudi 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...
Microsoft Recruits DeepMind Co-Founder to Head AI DivisionMicrosoft (MS) announced on the 19th (local time) that it has recruited Mustafa Suleyman, co-founder of the artificial intelligence (AI) company DeepMind and also the founder and CEO of another AI startup, Inflation AI, to head its AI business. According to MS’s disclosure, CEO Satya Nadella informed the employees on the same day that “Suleyman […]
US Finalizes Regulations Favoring Electric Vehicles in Fuel Economy StandardsAn electric vehicle charger is placed outside a Ford dealer in Broomfield, Colorado. AP-Yonhap The U.S. government has finalized regulations that rate electric vehicles lower than internal combustion engine vehicles when calculating car manufacturers’ average fuel efficiency. The calculation aims to further promote the sale of electric vehicles by making them significantly advantageous under the […]
AstraZeneca Bets on New Cancer Treatments By Acquiring Fusion Pharmaceuticals for $2 Billion [AlphaEconomy=(Chicago) Jisun Kim Correspondent] AstraZeneca is acquiring Fusion Pharmaceuticals, a clinical-stage biopharmaceutical company. AstraZeneca said on Nov. 18 (local time) that it is acquiring Fusion Pharmaceuticals for about $20 billion in cash as it bets on next-generation cancer treatments...
Sephora Korea: Closing Down Operations After Brief Five-Year RunGradually shuts down from May 6 News of Sephora’s withdrawal is being met with regret. Sephora Korea Instagram On the 19th, Sephora Korea announced its withdrawal through its official Instagram and online mall. Sephora stated, “With a heavy heart, we have decided to close our operation in Korea” and revealed that they will gradually […]
Starbucks Announces New Global Leadership TeamStarbucks has appointed new global executives. On the 18th (local time), Starbucks announced a new global leadership structure by appointing Michael Conway as the CEO of North America and Brady Brewer as the CEO of Starbucks International. Conway has been a Starbucks partner since 2013 and currently serves as a group representative of the international […]
Google's Gemini AI Engine May Soon Power Features on Apple's iPhone, Sources SayApple is in talks to integrate Google’s Gemini into the iPhone. Bloomberg reported on Monday, citing a source, that Apple is in discussions to incorporate Google’s Gemini AI engine into the iPhone, according to a report on the 18th. According to the source, the negotiations involve a Gemini license for some new features to be […]
Young Chinese Embrace Gold Bean Investments as Economic Slowdown Intensifies, Bloomberg FindsYonhap News Chinese in their 20s and 30s are turning to “Gold Bean” investments, trading small units of gold, to cope with economic stagnation. On the 15th, Bloomberg reported that as China’s economic slowdown crisis intensifies, the popularity of Gold Bean, which allows relatively low-cost investments, is soaring, especially among younger generations. The Gold Bean, […]
Fisker to Halt Production for Six Weeks due to Deteriorating Business ConditionsAmerican electric vehicle startup Fisker announced on March 18, 2024, that it will halt production for six weeks. The company cited deteriorating cash flow and the need to prevent inventory build-up as reasons for the halt. It also added that it is currently in alliance negotiations with major automakers and focusing on avoiding bankruptcy. Fisker […]
Pfizer to Sell $2.5 Billion Worth of Haleon Shares, Focusing on Pharmaceutical InnovationPfizer has started to dispose of its stake in Haleon, as it previously expressed its desire to focus on pharmaceutical innovation. Pfizer plans to sell about 2 billion pounds ($2.5 billion) of Haleon stock, which is the first step in reducing the 32% stake held by Haleon’s largest shareholder. Pfizer has been stating for a […]
2nd Richest Man in China Faces Permanent Ban from Stock Market - Here's WhyXu Jiayin, the chairman of Evergrande who once rode the Chinese real estate boom to become the second-richest person in Asia, has fallen from grace as Chinese securities authorities permanently banned him from entering the stock market. Evergrande once became China’s second-largest real estate developer, but in 2021, it began defaulting on offshore bonds. It […]
Peter Thiel Executes First Sale of Palantir (PLTR.N) Shares for $175 MillionPeter Thiel, a key figure at the software and analytics firm Palantir Technologies, has sold a portion of his shares in the company. Thiel announced on the 16th (local time) that, for the first time, he had sold a portion of his Palantir Technologies stake, worth about $3.4 billion, which he had held for over […]
Apple Foldable iPhone Launch Date Shifts From Late 2026 to Early 2027The release date for the anticipated foldable iPhone by Apple has been adjusted. On the 18th, a high-ranking official familiar with Apple’s internal affairs told Alpha Economy, “We plan to start selling the foldable iPhone a bit later than expected after making thorough preparations, including securing the supply of foldable displays.” The initial sales date […]
US Plans to Give Samsung $6 Billion in Semiconductor Subsidies, More than TSMCOn the 14th (local time), Bloomberg reported that the US government is expected to provide Samsung Electronics with more than $6 billion in semiconductor subsidies. The media, citing an anonymous source, said that this payment decision supports Samsung Electronics’s expansion in the US and the previously announced construction of a factory in Texas. If the […]
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 […]
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...
Microsoft Recruits DeepMind Co-Founder to Head AI Division Microsoft (MS) announced on the 19th (local time) that it has recruited Mustafa Suleyman, co-founder of the artificial intelligence (AI) company DeepMind and also the founder and CEO of another AI startup, Inflation AI, to head its AI business. According to MS’s disclosure, CEO Satya Nadella informed the employees on the same day that “Suleyman […]
US Finalizes Regulations Favoring Electric Vehicles in Fuel Economy Standards An electric vehicle charger is placed outside a Ford dealer in Broomfield, Colorado. AP-Yonhap The U.S. government has finalized regulations that rate electric vehicles lower than internal combustion engine vehicles when calculating car manufacturers’ average fuel efficiency. The calculation aims to further promote the sale of electric vehicles by making them significantly advantageous under the […]
AstraZeneca Bets on New Cancer Treatments By Acquiring Fusion Pharmaceuticals for $2 Billion [AlphaEconomy=(Chicago) Jisun Kim Correspondent] AstraZeneca is acquiring Fusion Pharmaceuticals, a clinical-stage biopharmaceutical company. AstraZeneca said on Nov. 18 (local time) that it is acquiring Fusion Pharmaceuticals for about $20 billion in cash as it bets on next-generation cancer treatments...
Sephora Korea: Closing Down Operations After Brief Five-Year Run Gradually shuts down from May 6 News of Sephora’s withdrawal is being met with regret. Sephora Korea Instagram On the 19th, Sephora Korea announced its withdrawal through its official Instagram and online mall. Sephora stated, “With a heavy heart, we have decided to close our operation in Korea” and revealed that they will gradually […]
Starbucks Announces New Global Leadership Team Starbucks has appointed new global executives. On the 18th (local time), Starbucks announced a new global leadership structure by appointing Michael Conway as the CEO of North America and Brady Brewer as the CEO of Starbucks International. Conway has been a Starbucks partner since 2013 and currently serves as a group representative of the international […]
Google's Gemini AI Engine May Soon Power Features on Apple's iPhone, Sources Say Apple is in talks to integrate Google’s Gemini into the iPhone. Bloomberg reported on Monday, citing a source, that Apple is in discussions to incorporate Google’s Gemini AI engine into the iPhone, according to a report on the 18th. According to the source, the negotiations involve a Gemini license for some new features to be […]
Young Chinese Embrace Gold Bean Investments as Economic Slowdown Intensifies, Bloomberg Finds Yonhap News Chinese in their 20s and 30s are turning to “Gold Bean” investments, trading small units of gold, to cope with economic stagnation. On the 15th, Bloomberg reported that as China’s economic slowdown crisis intensifies, the popularity of Gold Bean, which allows relatively low-cost investments, is soaring, especially among younger generations. The Gold Bean, […]
Fisker to Halt Production for Six Weeks due to Deteriorating Business Conditions American electric vehicle startup Fisker announced on March 18, 2024, that it will halt production for six weeks. The company cited deteriorating cash flow and the need to prevent inventory build-up as reasons for the halt. It also added that it is currently in alliance negotiations with major automakers and focusing on avoiding bankruptcy. Fisker […]
Pfizer to Sell $2.5 Billion Worth of Haleon Shares, Focusing on Pharmaceutical Innovation Pfizer has started to dispose of its stake in Haleon, as it previously expressed its desire to focus on pharmaceutical innovation. Pfizer plans to sell about 2 billion pounds ($2.5 billion) of Haleon stock, which is the first step in reducing the 32% stake held by Haleon’s largest shareholder. Pfizer has been stating for a […]
2nd Richest Man in China Faces Permanent Ban from Stock Market - Here's Why Xu Jiayin, the chairman of Evergrande who once rode the Chinese real estate boom to become the second-richest person in Asia, has fallen from grace as Chinese securities authorities permanently banned him from entering the stock market. Evergrande once became China’s second-largest real estate developer, but in 2021, it began defaulting on offshore bonds. It […]
Peter Thiel Executes First Sale of Palantir (PLTR.N) Shares for $175 Million Peter Thiel, a key figure at the software and analytics firm Palantir Technologies, has sold a portion of his shares in the company. Thiel announced on the 16th (local time) that, for the first time, he had sold a portion of his Palantir Technologies stake, worth about $3.4 billion, which he had held for over […]
Apple Foldable iPhone Launch Date Shifts From Late 2026 to Early 2027 The release date for the anticipated foldable iPhone by Apple has been adjusted. On the 18th, a high-ranking official familiar with Apple’s internal affairs told Alpha Economy, “We plan to start selling the foldable iPhone a bit later than expected after making thorough preparations, including securing the supply of foldable displays.” The initial sales date […]
US Plans to Give Samsung $6 Billion in Semiconductor Subsidies, More than TSMC On the 14th (local time), Bloomberg reported that the US government is expected to provide Samsung Electronics with more than $6 billion in semiconductor subsidies. The media, citing an anonymous source, said that this payment decision supports Samsung Electronics’s expansion in the US and the previously announced construction of a factory in Texas. If the […]
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 […]
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