In an effort to reduce the cost of electric vehicles overall, Chinese manufacturer Nio and battery giant CATL struck a partnership deal on Thursday to create longer-lasting batteries. William Li, the founder and CEO of Nio, told reporters in Beijing that the company will work together to use their respective technologies to reduce what is…
A Chinese foreign ministry official criticised a bill in the United States that would require TikTok to divest or ban the platform, saying there is “no fairness to speak of” in using national security as an excuse to lessen other nations’ economic edge. The action is the most recent in a slew of steps taken…
Amin Nasser, the chief executive of Saudi Aramco, stated on Sunday that the oil giant was exploring additional investment options in China, where he claimed there was a strong and expanding need for oil. State-owned Aramco has been expanding its business in China through a series of refining and petrochemical partnerships, some of which include…
Three writers have sued Nvidia, a company whose processors enable artificial intelligence, claiming that the company utilised their copyrighted writings without their consent to train its NeMo robot and launch a new AI platform. The works of Brian Keene, Abdi Nazemian, and Stewart O’Nan were removed in October “due to reported copyright infringement.” The dataset,…
In order to better evaluate any supply chain risks, investors want Inditex, the company that owns Zara, to follow competitors H&M and Primark in disclosing the whole list of its suppliers. Among the major apparel retailers, Inditex stands out for not disclosing the manufacturers it sources from. Investors and regulators desire improved disclosure and increased…
Oracle announced that it would be releasing a new tab in conjunction with Nvidia and that it exceeded quarterly earnings projections. Riding high on the surge in demand for generative AI, Oracle’s shares surged by about 14% during extended trading. Oracle’s stock market worth increased by almost $40 billion as a result of the late-day…
A law that would require TikTok’s parent business, located in China, to sell the app within six months of its approval or face a ban, was approved by a US congressional panel. Citing national security concerns, the White House supports a House of Representatives committee that introduced the proposal. According to TikTok, small companies that…
Due of the hype around artificial intelligence, investors have flocked to Nvidia-focused exchange-traded funds (ETFs) this year; on Wednesday, inflows into a bullish fund that tracks the chip maker’s shares reached a record high. LSEG Lipper data shows that net daily inflows into the GraniteShares 2x Long NVDA Daily ETF reached a record of $197…
Shares of Nordstrom fell 10% before the bell after the retailer’s annual results were considerably below Wall Street estimates on Tuesday, indicating a slower-than-expected recovery in demand even as consumers feel some relief from lessening inflationary pressures. Along with Macy’s, the business is indicating dismal sales for 2024 as retailers prepare for more pressure on…
Following the Chinese online retailer’s announcement that it would expand its share repurchase programme and report fourth-quarter revenue above predictions, JD.com shares surged 12% in premarket trade in the United States. Aggressive price reductions helped stimulate demand from consumers facing an uncertain economy in the last three months of 2023, coinciding with the biggest annual…
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