In a significant development U.S.-headquartered digital currency exchange CrossTower has set up a local unit in India and has launched a trading platform to increase its traction in the burgeoning domestic crypto market. The development comes at a time when the fate of cryptocurrency is still unclear in India. CrossTower India has hired 35 people…
On Monday, Oliver Blume, the CEO of luxury sports car maker Porsche AG said, the carmaker is attracting huge demand for its all-electric coupe Taycan model, causing wait times to stretch to up to six months. “Our original production capacity for the Taycan was 20,000 units this year – we’ve sold that many in the…
On Friday, China’s Semiconductor Manufacturing International Corp said, it will invest $8.87 billion to build a chip plant in Shanghai. The development underscores Beijing’s efforts to boost its independence in the chip manufacturing sector. The development comes at a time when global chipmakers are struggling to fulfill orders from the electronics and automotive industries triggering new…
In a statement the CEO of global cryptocurrency exchange Binance said, its U.S. arm could potentially see an initial public offering in the next three years. “Binance.US is just going to do what Coinbase did,” said Zhao. He went on to add, Binance.US is set to close on a large private funding round in the…
On Wednesday, in a statement Royal Dutch Shell announced its plans to significantly expand its network of electric vehicle charging points in Britain. Shell plans on installing 50,000 on-street charging stations by 2025; it plans on implementing its plan through ubitricity, an on-street charging point company that it acquired earlier this year in February. Incidentally,…
HSBC could be preparing to return to India’s equity broking market after more than 13 years, as the rapid expansion of the country’s capital markets and growing demand from affluent investors potentially create a more attractive opportunity than the one that existed when the bank left the business. People familiar with the matter have indicated…
A dispute at the top of Tata Sons is forcing Indian companies to examine a question that is usually addressed only when relationships break down: how effectively can a major shareholder enforce its rights when the company’s board interprets governance rules differently? The confrontation between Tata Trusts and Tata Sons has brought that issue into…
Nanexa shares surged more than 150% at the opening of trading in Stockholm after the Swedish drug-delivery company announced a global licensing agreement with Novo for its PharmaShell technology. The stock later gave back part of the initial gain but remained sharply higher, leaving it close to its previous record level and turning a relatively…
The failure of the Clarity Act in the United States Senate has exposed a problem that money alone cannot solve: political influence becomes less effective when an industry cannot build agreement around the substance of the legislation it wants passed. The crypto sector entered the latest congressional battle with substantial financial resources, an expanding network…
McDonald’s is making a substantial investment in its restaurants because the next phase of growth depends increasingly on improving the economics and customer experience of existing locations rather than relying only on opening more outlets. The company plans to provide as much as $8.5 billion in support to franchisees through 2036, including about $5 billion…
Qualcomm’s latest flagship smartphone processors arrive at a difficult point for the global handset industry. The company is promoting its new Snapdragon 8 Elite Gen 6 and Snapdragon 8 Elite Extreme Gen 6 platforms as the foundation for a new generation of smartphones in which artificial intelligence performs more tasks directly on the device. At…
Apple is turning its latest desktop computers into a much broader challenge to the economics of artificial intelligence. Rather than competing only on processor speed or graphics performance, the company is positioning its newest Mac mini and Mac Studio systems as alternatives to continuously paying for cloud computing. The strategy reflects a growing industry shift:…
Artificial intelligence is beginning to change online shopping from a process controlled directly by consumers into one in which software can search, compare, recommend and eventually purchase products on their behalf. The attraction is clear: an AI agent can process large amounts of information quickly and potentially complete routine purchases with little human involvement. But…
Oil prices are coming under pressure as two developments reduce some of the supply risk that had pushed crude sharply higher: the restoration of Saudi Arabia’s East-West oil pipeline and renewed indications that diplomatic channels between the United States and Iran remain possible. Together, the developments are changing how traders assess the immediate balance between…
Bitcoin’s move above $85,000 marks more than a recovery from a recent selloff. It shows that demand for the cryptocurrency has strengthened even while several conditions that normally challenge speculative assets remain in place. Bitcoin briefly reached about $85,229 on September 21, its highest level since January, after gaining more than 7 percent over five…
