Apple’s iPhone manufacturer Foxconn has announced that it is increasing its investment in a US electric pickup truck company that could compete with Tesla’s Cybertruck. The massive technology company will invest up to $170 million in shares of the struggling startup Lordstown Motors. The company plans to increase production of its first model, the Endurance,…
Elon Musk started making changes to the social media platform after buying Twitter Inc. for $44 billion. These changes have irritated some users, prompting them to look for alternatives. Musk’s decision to charge for user verification and his thoughts on content moderation are among the changes. Here are some websites that can be used as…
Following a significant production reduction at a China plant infected by a virus, Apple Inc. expects lower shipments of premium iPhone 14 models than previously anticipated, which will negatively impact its sales outlook for the busy holiday shopping season. Apple has been kept afloat by demand for the high-end smartphones made at Foxconn’s Zhengzhou plant,…
The primary objective of a late-stage study intended to demonstrate that GSK’s blood cancer drug Blenrep was superior to an already available treatment on the market was not met, the company said on Monday. As a standalone manufacturer of prescription drugs and vaccines, oncology is a major area of focus for GSK. Following its statement,…
In an effort to reignite growth by luring in budget-conscious users, Netflix has released its first subscription package with ads. However, the hurried release, high prices for slots, and accompanying demands have left some advertisers unconvinced. Basic with Ads, which launched this week in 12 nations, costs £4.99 per month in the UK, £2 less…
Since Elon Musk first said he’d buy Twitter, the price of Tesla stock has decreased by more than 35%. Shares of Tesla CEO Elon Musk’s electric vehicle manufacturer have fallen more than 35% since he revealed his offer to purchase Twitter. However, on Friday, during a market rally that followed a turbulent week, shares of…
While Singapore wants to be a progressive regulator, it is not friendly to cryptocurrency trading, claimed Brian Armstrong, co-founder and CEO of the American cryptocurrency exchange platform Coinbase. After many retail investors lost sizable portions of their savings, the city-state has repeatedly cautioned that cryptocurrencies are highly speculative and volatile. Additionally, it forbids cryptocurrency advertising…
Starbucks’ quarterly earnings and revenue exceeded analysts’ expectations thanks to increased spending by American customers on iced coffee drinks and Pumpkin Spice Lattes. The coffee company, based in Seattle, also reported that U.S. traffic improved in the quarter and has almost reached 2019 levels. “Despite elevated pricing actions taken throughout the year, daily store traffic…
According to three industry sources, Shell’s liquefied natural gas (LNG) trading division suffered a loss of nearly $1 billion in the third quarter of the year after traders were caught off guard by a sharp increase in gas prices in Europe after Russia cut off supplies. The top LNG trader in the world, Shell, last…
The owner of car brands like Fiat and Peugeot said in a statement on Thursday that improved semiconductor supplies helped to boost sales volumes, which led to a 29% increase in Stellantis’ third-quarter revenues. But as the shortage of semiconductors eased, other supply chain problems emerged, particularly in Europe’s logistics, affecting the third-largest automaker in…
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