Among the 27 businesses granted permission to produce IT gear in India under a production-linked incentive programme are global tech behemoths Dell, HP, and Lenovo from China. India wants to increase local manufacturing and draw significant investments across the value chain. The government of India authorised the PLI Scheme 2.0 for IT gear in May,…
McDonald’s announced that it has reached an agreement to increase its ownership of its business in China to just less than 50%, demonstrating its optimism in the burger chain’s future in the second-largest economy in the world. The action stands in stark contrast to the current trend of global firms pulling back their investments in…
One day after the board removed Sam Altman as CEO, investors in OpenAI are pressing for his reinstatement, according to reports quoting information from sources with knowledge of the situation. Several of OpenAI’s leading supporters, including Microsoft, Tiger Global, and venture capital company Thrive Capital, are involved in an attempt to have Altman reinstated, according to…
On Saturday, SpaceX launched its second Starship rocket flight, marking yet another significant advancement in the creation of Elon Musk’s massive spacecraft. Starship took off from the company’s Texas facility at around eight in the morning ET and flew for over seven minutes, safely separating from its booster before the rocket’s onboard technology purposefully killed…
Despite increasing its sales and profit projections for the year, Walmart, the country’s largest retailer, has stated that American shoppers are becoming more frugal with their spending as the holiday season approaches. The company’s stock dropped 7.7% on Thursday as management revealed that sales over the previous two months have been “somewhat uneven” due to…
Cars are the newest commodity that Amazon, which began as the “everything store” in its mission to become the online shopping destination. According to a statement from the corporation, buyers in the US will be able to peruse and buy cars from dealers on Amazon beginning in the next year. “Changing the ease with which…
Fearing that overcapacity would fuel a fresh wave of cheap exports, China’s policymakers, keen to improve manufacturing, are directing money towards manufacturers of high-tech products, from semiconductors to electric vehicles.` China’s central bank’s lending statistics provides an indication of the priorities of the government: as of September’s end, outstanding loans to the industrial sector increased…
Exxon Mobil is expected to reveal its much awaited lithium strategy on Monday, stating that it intends to begin producing the metal used in EV batteries in Arkansas by 2026, says a Reuters report quoting a source with firsthand knowledge of the oil major’s plans. Exxon’s entry into the industry coincides with new technologies that…
For the first time, the Canadian emissions monitoring company GHGSat launched a satellite on Saturday with the goal of identifying carbon dioxide emissions from specific facilities, such as steel mills and coal plants, from space. According to GHGSat, the satellite, called Vanguard, took out from California’s Vandenberg Space Force Base. Utilising space-age technology, it is…
“Black Swan” director Darren Aronofsky is directing a biopic on Elon Musk at the New York-based studio A24, according to rep[orts quoting information from a source acquainted with the situation. The source said that A24 has acquired the rights to Walter Isaacson’s biography of the richest person in the world. Protozoa Pictures, director Aronofsky’s production…
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