TikTok’s Owner ByteDance Accused Of Helping China Spy On Hong Kong Activists

ByteDance, the company that owns TikTok, has been charged with enabling members of the Chinese Communist Party (CCP) access to the information of Hong Kong human rights activists and demonstrators. Former ByteDance executive Yintao Yu claims in a US court filing that users who submitted “protest-related content” were also recognised and monitored. According to Yu,…

Inditex, Owner Of Zara, Has A Successful Start To The Summer

Inditex, the company that owns Zara, reported on Wednesday that sales of the spring/summer collection accelerated to increase 16% in May as the retailer offsets increasing labour expenses and retains customers amid a crisis in the cost of living. The largest fast-fashion retailer in the world announced a better-than-anticipated 54% increase in net profit of…

UBS CEO Forewarns Of Difficult Job Decisions Following Credit Suisse Acquisition

Sergio Ermotti, chief executive officer of UBS, cautioned on Friday of difficult decisions regarding layoffs following the acquisition of Credit Suisse, which he said he hoped would be finalised in the coming days. “We won’t be able to create, short term, job opportunities for everybody. Synergies is part of the story,” Ermotti said at an…

Japanese Privacy Watchdog Alerts ChatGPT Maker OpenAI On User Data

The privacy authority in Japan said on Friday that it had cautioned OpenAI, the Microsoft-backed business that created the ChatGPT chatbot, not to gather private information without people’s consent. The Personal Information Protection Commission stated in a statement that OpenAI should limit the sensitive data it gathers for machine learning, adding that it may take…

Concerns Related To Chinese Narrowbody Aircraft Does Not Worry Boeing CEO Too Much

Boeing Co. CEO Dave Calhoun brushed down rumours that the duopoly now maintained by the American aircraft manufacturer and its European rival Airbus SE may expire after China’s first commercial flight of its homegrown C919 narrowbody jet. A C919 carrying passengers from Shanghai to Beijing on Sunday by China Eastern Airlines 600115.SS marked a significant…

Cost Reduction Efforts Helps Dell’s Quarterly Earnings To Decline Less Than Anticipated

After months of collapsing demand, better cost controls enabled Dell Technologies Inc to surpass expectations for first-quarter profit on Thursday. However, a full rebound is still some time away because Dell predicted current-quarter revenue below Wall Street forecasts and cautioned that IT investment would remain conservative. The results contrasted with rivals HP Inc. and Lenovo…

Ways To Avoid The Hype Around AYI Before Inventing In AI Stocks

In an overvalued market, seasoned tech investors are looking for inexpensive chances. The question is how to invest in the promise of artificial intelligence (AI), which advanced in November with the introduction of the ChatGPT bot by Microsoft-backed OpenAI, without entering a bubble. Since the introduction of ChatGPT, the stock price of Nvidia, a manufacturer…

Chinese Automakers Like BYD, Are Its Biggest EV Competitors, Says Ford CEO Jim Farley

Chinese automakers, not American leader Tesla or neighbouring foe General Motors, are Ford Motor’s biggest rivals in the electric vehicle market, according to CEO Jim Farley. Farley claimed that when it comes to electric vehicles, notably battery chemistry and other cutting-edge technology, Chinese firms, like the BYD company financed by Warren Buffett, are ahead of…