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,…
Mondelēz International’s decision to produce chocolate crumb locally at its Cadbury plant in Malaysia illustrates how multinational manufacturers are redesigning supply chains around speed and resilience rather than relying solely on the lowest sourcing cost. By investing about 90 million Malaysian ringgit in a new crumb facility at Shah Alam, the company can eliminate the…
The return of some manufacturing to China is exposing a weakness in the tariff-driven supply chain strategy that encouraged companies to move production elsewhere. Businesses that shifted orders to countries such as India, Vietnam and Indonesia to reduce exposure to United States tariffs are discovering that lower duties do not necessarily translate into lower overall…
Britain is entering its next budget with a narrower margin for fiscal manoeuvre after the government paid a record yield to borrow over 30 years. The sale of 4.25 billion pounds of long-term government bonds at a yield of 5.8168 percent was the highest recorded in the modern gilt market since the Debt Management Office…
US Republican party candidates are increasingly making Islam and Muslim identity part of their campaign messaging ahead of the 2026 United States midterm elections, turning questions about terrorism, national security, religion and political loyalty into electoral issues. The pattern is visible in attacks on Abdul El-Sayed, a Muslim Democrat running for the Senate in Michigan,…
Volkswagen’s agreement to pursue another major reduction in its workforce is less a sudden response to one bad year than an attempt to address several structural problems that have accumulated across its European business. The compromise allows management to move ahead with substantial job reductions while avoiding an open confrontation with unions, the German state…
The United States and China are preparing to open a new channel on artificial intelligence safety at a moment when the technology is becoming a national security issue as much as an economic one. The proposed discussions, expected around mid-September, would be the first official bilateral talks focused exclusively on AI safety since Donald Trump…
China’s manufacturing sector improved in August, but the recovery remained too weak to pull factory activity back into expansion. The official manufacturing purchasing managers index rose to 49.8 from 49.2 in July, beating market expectations but remaining below the 50 threshold that separates expansion from contraction. The result marked a second consecutive month of contraction…
Aon is reportedly nearing an agreement to acquire USI Insurance Services from private equity firm KKR for about $17 billion including debt, in a transaction that would deepen Aon’s position in the highly fragmented insurance brokerage market. If completed, the acquisition would give Aon a much larger platform in the middle market, where businesses often…
The trade conflict between the United States and Canada is moving beyond a dispute over individual tariffs and into a broader test of one of the world’s most integrated economic relationships. Washington’s latest 50 percent duties on a range of Canadian goods have prompted Ottawa to respond with matching tariffs, while companies on both sides…
France is emerging as one of the clearest examples of how high public debt, weak growth and political fragmentation can reinforce one another in a major developed economy. Government borrowing costs have risen sharply, with the 10 year French government bond yield reaching around 4.1% in late August, while investors are becoming increasingly focused on…
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