A U.S. labour agency recently accused Elon Musk’s SpaceX of forcing laid-off or dismissed workers to sign illegal contracts that prevent them from criticising the business and participating in class-action lawsuits against it. A regional representative of the National Labour Relations Board (NLRB) in Seattle submitted the complaint late on Wednesday. SpaceX has already been…
The week leading up to March 20 saw significant inflows into global equities funds, propelled by positive expectations on potential rate cuts by the US Federal Reserve later in the year as well as positive industrial and retail statistics from China. LSEG data shows that following around $21.95 billion in net accumulation the week before,…
According to local media, Tim Cook, the CEO of Apple, praised China’s role in the company’s supply chain when visiting suppliers on Wednesday, including BYD Electronics. The visit coincided with a decline in Apple’s sales in China. Cook shared a post on his Weibo social media account, stating that he had eaten a local breakfast…
Gwynne Shotwell, the president of SpaceX, announced during a press conference on Tuesday that the company has begun selling satellite lasers—which are utilised for quick in-orbit communications—to other satellite companies. With fewer ground stations, SpaceX’s network can provide more global internet coverage thanks to its hundreds of Starlink satellites in low-Earth orbit, which communicate with…
China has increased the capital threshold for non-bank financial organisations that offer modest personal loans, further tightening regulations on consumer finance companies. The National Financial Regulatory Administration’s Tuesday announcement of the measures will take effect on April 18. It occurs at a moment when Beijing’s hold over the financial industry is getting stronger. According to…
AstraZeneca, an Anglo-Swedish pharmaceutical company, announced on Tuesday that it will acquire Canadian drug researcher Fusion Pharmaceuticals Inc. for $2 billion in cash as part of its bet on cancer medicines of the future. With this acquisition, AstraZeneca gains a footing in the market for radiopharmaceutical medications, which has drawn interest from investors since Novartis’…
Authorities are still debating how to address the bank’s weaknesses a year after the Credit Suisse banking crisis brought the bank to its knees. This is especially true in Switzerland, where the firm’s acquisition by rival UBS formed a massive entity. The run at little-known U.S. regional institution Silicon Valley Bank in March 2023 put…
In the 1940s, McDonald’s was a physical establishment with employees working at counters, paper menus listing the burgers and fries, and cashier employees accepting payments from customers. It wouldn’t be too much of a stretch to refer to McDonald’s as a tech company that also happens to sell burgers given how pervasive technology is in…
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…
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