Iran's Currency Crisis: Rial Hits Record Low as Diplomatic Tensions SoarAmid 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 […]
From Virtual Try-Ons to Smart Mirrors: The Latest in US Beauty TechThe 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 […]
U.S.-China Relations in Focus: Yellen's Strategic Visit to Address OverproductionScheduled 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 […]
Ruble Holds Steady: All Eyes on Interest Rate DecisionRussian 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 […]
Chinese Millennials Seek Fortune in Lottery Amid Economic UncertaintyLottery 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 […]
Hyundai, Kia's Record Sales Streak Overshadowed by EPA's Fuel Economy BlowHyundai 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 FirmsAs 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 […]
Peru's Copper Production Dip Sparks Global Price SurgePeru, the world’s second-largest copper producer, saw a slight decrease in production in January. With the recent surge in copper prices, all eyes are on whether Peru’s production decline will have an impact. Peru’s Ministry of Energy and Mines reported on the 19th (local time) that the country’s copper production in January was about 205,375 […]
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 […]
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 […]
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 […]
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, […]
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 […]
Goldman Sachs Expects Gold to Be $2300 This YearGoldman Sachs, a global investment bank (IB), predicted a sharp rise in the price of gold this year. This reflects expectations of a decrease in interest rates despite the uncertainty of U.S. interest rates. Goldman Sachs predicted on the 18th that the price of gold this year would reach $2300 per ounce. Previously, Goldman Sachs […]
Fisker Inc. Prepares for Possible Bankruptcy FilingAccording to The Wall Street Journal, Fisker Inc. has reportedly hired restructuring advisors to prepare for a possible bankruptcy filing. The company is currently facing a challenging period, with the possibility of its stocks being delisted due to recent declines. In its latest annual report, Fisker warned that it may be unable to continue operations. […]
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 […]
Moody's Downgrades China's Vanke Amid Real Estate Sector ConcernsA construction site of Vanke in Shanghai, China. Reuters-Yonhap Moody’s, an international credit rating agency, has downgraded Vanke, China’s second-largest real estate developer’s credit rating to “non-investment grade.” According to Bloomberg News, on the 11th (local time), Moody’s announced that it had downgraded Vanke’s rating from the lowest investment grade, Baa3, to the non-investment grade, […]
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 […]
BYD Founder Wang Chuanfu Faces Crisis Over Alleged Extramarital AffairChairman Wang Chuanfu of BYD, a major Chinese electric vehicle company, is recently rumored to have illegitimate children in the United States—/Search engine Baidu. Wang Chuanfu, 58, founder of BYD, a major Chinese electric vehicle company comparable to Elon Musk’s Tesla, is suddenly embroiled in rumors of having illegitimate children in the United States, facing […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
Peru's Copper Production Dip Sparks Global Price Surge Peru, the world’s second-largest copper producer, saw a slight decrease in production in January. With the recent surge in copper prices, all eyes are on whether Peru’s production decline will have an impact. Peru’s Ministry of Energy and Mines reported on the 19th (local time) that the country’s copper production in January was about 205,375 […]
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 […]
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 […]
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 […]
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, […]
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 […]
Goldman Sachs Expects Gold to Be $2300 This Year Goldman Sachs, a global investment bank (IB), predicted a sharp rise in the price of gold this year. This reflects expectations of a decrease in interest rates despite the uncertainty of U.S. interest rates. Goldman Sachs predicted on the 18th that the price of gold this year would reach $2300 per ounce. Previously, Goldman Sachs […]
Fisker Inc. Prepares for Possible Bankruptcy Filing According to The Wall Street Journal, Fisker Inc. has reportedly hired restructuring advisors to prepare for a possible bankruptcy filing. The company is currently facing a challenging period, with the possibility of its stocks being delisted due to recent declines. In its latest annual report, Fisker warned that it may be unable to continue operations. […]
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 […]
Moody's Downgrades China's Vanke Amid Real Estate Sector Concerns A construction site of Vanke in Shanghai, China. Reuters-Yonhap Moody’s, an international credit rating agency, has downgraded Vanke, China’s second-largest real estate developer’s credit rating to “non-investment grade.” According to Bloomberg News, on the 11th (local time), Moody’s announced that it had downgraded Vanke’s rating from the lowest investment grade, Baa3, to the non-investment grade, […]
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 […]
BYD Founder Wang Chuanfu Faces Crisis Over Alleged Extramarital Affair Chairman Wang Chuanfu of BYD, a major Chinese electric vehicle company, is recently rumored to have illegitimate children in the United States—/Search engine Baidu. Wang Chuanfu, 58, founder of BYD, a major Chinese electric vehicle company comparable to Elon Musk’s Tesla, is suddenly embroiled in rumors of having illegitimate children in the United States, facing […]
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