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 cryptocurrency industry’s largest thefts have repeatedly demonstrated that the biggest challenge facing digital assets is not simply market volatility but the security of the infrastructure that holds and moves them. A series of major attacks, including the latest theft involving hundreds of millions of dollars, shows how exchanges, digital wallets and blockchain-based systems remain…
Pepco Group’s stronger fourth-quarter trading and upgraded earnings expectations highlight how Europe’s discount retail sector is increasingly relying on volume, inventory discipline and store expansion to generate growth. The company now expects underlying net earnings growth of more than 60% for its financial year, compared with previous guidance of more than 50%, while revenue is…
Anthropic’s planned public offering is revealing a central contradiction in the economics of frontier artificial intelligence: the faster an AI company expands, the more heavily it may have to rely on the technology giants it ultimately competes with. The company’s confidential IPO prospectus shows that Amazon and Google are simultaneously investors, computing suppliers, distribution partners…
Shein’s first results as a publicly listed company have exposed the pressure building beneath the rapid-growth model that made the online fashion retailer one of the world’s largest apparel platforms. The company returned to profit in the second quarter and generated $11.08 billion in sales, but its profit fell sharply compared with earlier periods and…
Nvidia’s decision to add $150 billion to its share-repurchase authorisation reveals how the artificial intelligence boom is changing the capital allocation decisions of the semiconductor industry. The additional authorisation brings the remaining amount available under the company’s programme to $235 billion through fiscal 2028, making it the largest such increase by a United States company.…
Anthropic’s decision to warn prospective investors that advanced artificial intelligence could create catastrophic or existential risks places an unusual responsibility on the company as it prepares for a public offering. The warning is not simply a statement about distant technological possibilities. It appears inside a document designed to explain risks to shareholders, meaning that the…
The latest United States-China trade arrangement is less a settlement than an attempt to create enough economic breathing space for negotiations to continue. Washington and Beijing have agreed to identify roughly $60 billion of bilateral trade for more favourable tariff treatment, while also extending their broader trade truce. The immediate effect is to lower some…
Nvidia’s decision to add another $150 billion to its share repurchase authorization marks a significant shift in how the company is managing the extraordinary cash generation created by the artificial intelligence infrastructure boom. The move takes the remaining authorized repurchase amount to approximately $235 billion and gives the company a mechanism to return a substantial…
Western automakers are increasingly looking toward defence production as governments expand military spending and civilian vehicle demand becomes harder to rely on. Ford, General Motors and Jaguar Land Rover are among the companies pursuing military opportunities, while other manufacturers and suppliers are exploring whether underused factories can be sold or adapted for defence production. The…
The latest meeting between Donald Trump and Xi Jinping demonstrated the value of direct engagement between the leaders of the world’s two largest economies, but it also exposed the limits of summit diplomacy. The visit produced a warmer atmosphere, an extension of the trade truce and several commitments to continue discussions, yet the most difficult…
