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,…
The revival of the Orient Express brand is being shaped by a significant shift in global luxury spending, with its owners betting that the world’s fastest-growing group of ultra-wealthy individuals will increasingly favour exclusive experiences over additional luxury possessions. As new fortunes emerge from the technology sector, particularly those linked to artificial intelligence, the iconic…
Saks Global has emerged from Chapter 11 bankruptcy with a dramatically reshaped business and a clear strategic direction: concentrating on the highest end of the luxury retail market in an effort to rebuild sales, strengthen relationships with premium fashion houses and restore financial stability. The company’s leadership believes narrowing its focus to affluent consumers and…
The rapid expansion of artificial intelligence has triggered an unexpected challenge for the world’s largest technology companies: access to computing power is becoming as strategically important as access to advanced AI models. Recent reports indicating that Google has limited the amount of Gemini model capacity available to Meta have brought this issue into sharper focus,…
Volkswagen’s efforts to reshape its global manufacturing network have sparked a new debate over whether the company’s deep ties with China could help safeguard its industrial base in Germany. As the automaker confronts falling demand in Europe, rising competition from Chinese manufacturers and growing pressure on profitability, a proposal from one of its most influential…
The FIFA World Cup has once again become one of the biggest commercial battlegrounds for the global sportswear industry, but early market indicators suggest that Adidas is extracting greater business value from football’s biggest tournament than its long-time rival Nike. While both companies have invested heavily in sponsorships, team partnerships and merchandising, early sales data…
As prolonged heatwaves become an increasingly common feature of European summers, they are reshaping consumer behavior and creating unexpected commercial opportunities for Asia’s leading air-conditioner manufacturers. Record-breaking temperatures across several European countries have accelerated demand for cooling solutions, prompting households, businesses and public institutions to invest in air-conditioning systems at levels rarely seen before. The…
Europe’s latest heatwave has exposed a growing weakness in the continent’s education system, with thousands of schools forced to close, shorten teaching hours or adopt emergency measures as classrooms become dangerously hot. What was once considered an occasional disruption is increasingly becoming a recurring challenge, raising questions about whether Europe’s schools are equipped for a…
The planned US stock market listing by South Korea’s SK Hynix represents more than a large fundraising exercise. It highlights how the artificial intelligence boom is reshaping capital markets, forcing semiconductor companies to secure unprecedented amounts of funding to expand production, develop advanced technologies and maintain their positions in an increasingly competitive industry. As demand…
The latest extreme heatwave across Europe has demonstrated how a specific atmospheric phenomenon can transform a period of hot weather into a prolonged public safety, economic and infrastructure crisis. While rising global temperatures have increased the likelihood of heatwaves, meteorologists say the severity and persistence of some of Europe’s most damaging heat events are often…
The challenge facing Binance in Europe has become a defining example of how the cryptocurrency industry’s relationship with regulators is entering a new phase. For years, major crypto platforms expanded rapidly across multiple jurisdictions, often benefiting from fragmented regulatory frameworks and evolving oversight. Today, however, the landscape is changing as governments introduce comprehensive rules designed…
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