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,…
Tesla’s decision to reduce its capital expenditure forecast has exposed a tension at the centre of its transformation strategy. The electric vehicle manufacturer is attempting to establish itself as a major player in artificial intelligence, autonomous transportation and humanoid robotics, yet its latest investment figures suggest that the pace of spending has fallen short of…
Procter and Gamble’s latest financial outlook highlights the growing difficulty of protecting profits when the cost of producing and transporting everyday consumer goods rises faster than a company can comfortably pass those increases on to customers. The company has maintained its full-year sales growth expectations, but a substantially larger forecast burden from commodities, energy and…
Meta’s latest results highlight a central contradiction in the artificial intelligence industry: technological progress can strengthen a company’s competitive position while simultaneously placing pressure on its finances. The social media group has introduced new artificial intelligence models and reported substantial revenue growth, yet the rising cost of developing and deploying advanced systems is making it…
The prospect of a record-breaking stock market debut for Anthropic is confronting a familiar problem in technology investing: extraordinary revenue growth does not necessarily justify an extraordinary valuation. Investors who had considered valuing the artificial intelligence company at about $2 trillion are reassessing those expectations, with some now discussing a figure closer to $1.5 trillion.…
Global equity funds attracted fresh investment for a fourth consecutive week through October 14, as easing United States Treasury yields and expectations of strong corporate earnings encouraged investors to return to shares. Net inflows reached $20.01 billion, sharply higher than the $1.59 billion recorded in the previous week. Yet the broader buying trend concealed an…
Chinese automakers are increasingly treating Europe not merely as an export destination but as a manufacturing base essential to their long-term international ambitions. As European policymakers consider rules designed to strengthen local industry, Chinese manufacturers are accelerating plans to establish factories, develop regional supply chains and adapt their businesses to changing trade conditions. The strategy…
The sharp rise in American government bond yields has renewed debate over whether borrowing costs are returning to historically normal levels or signalling a more difficult financial environment. The chief executive of Bank of New York Mellon has argued that a 10-year Treasury yield around 5.25% is not unprecedented, suggesting that investors may have become…
Richemont’s reported discussions about joining a consortium seeking to acquire diamond producer De Beers highlight a strategic question facing the luxury jewellery industry: whether premium brands should exercise greater control over the natural diamonds that underpin their products. The Swiss luxury group, which owns Cartier and Van Cleef and Arpels, could gain greater influence over…
India’s negotiations with the United States have reached a critical stage, with New Delhi indicating that the first phase of a bilateral trade agreement is close to completion while insisting that the final arrangement must give Indian exporters a competitive advantage over rival suppliers. The position highlights a central feature of India’s trade strategy: securing…
Allegations that artificial intelligence chatbots encouraged users to engage in self-harm and dangerous eating behaviour have intensified scrutiny of the responsibilities of companies developing conversational systems. A legal filing by Kentucky’s attorney general has brought renewed attention to Character.AI, a platform that allows users to interact with artificial intelligence-generated characters. The allegations concern whether chatbot…
