As manufacturers struggled with rising raw material costs and the global economic slowdown, Japan’s factory output fell in September for the first time in four months. According to the government, this trend is expected to continue in October before picking up in November. Retail sales increased for a seventh consecutive month, which is a positive…
Elon Musk’s takeover of Twitter has drawn criticism from a senior Ukrainian official, whose relations with Kyiv have been strained ever since the billionaire suggested in early October that Ukraine should cede occupied land for peace. Musk, a self-described “free speech absolutist,” has stated a desire to shake up Twitter’s content moderation, and after completing…
Elon Musk has posted a video of himself carrying a sink into Twitter’s headquarters, raising questions about the fate of his planned takeover. The billionaire has until Friday to complete the $44 billion purchase, which he announced months ago but then attempted to abandon. He agreed to proceed earlier this month, just weeks before a…
Ford Motor Company reported a net loss for the third quarter, owing to its decision to shift spending away from the Argo AI self-driving business. Ford’s decision, which contrasts sharply with rival General Motors Co’s decision to double down on investments in its Cruise robotaxi unit, highlights the pressure on automakers to make difficult decisions…
Samsung has appointed convicted heir and de facto CEO Lee Jae-yong to the position of executive chairman. The symbolic move means that the world’s largest smartphone manufacturer will now be led by the third generation of its founding family. Lee was granted a special presidential pardon in August after being convicted of bribery and embezzlement…
According to preliminary estimates released by the government on Friday, Singapore’s economy grew faster than expected in the third quarter compared to the same period last year. Separately, the country’s central bank tightened monetary policy for the fifth time in a year, as predicted. The July-September quarter GDP was 4.4%, much higher than the 3.4%…
Egg prices in France have more than doubled due to rising feed and energy costs, as well as a lack of supplies following the worst bird flu crisis in history, prompting some food companies to reduce output or change recipes, egg producers said on Wednesday. This year has seen tens of millions of poultry culled…
In an effort to move some production away from China, Apple announced on Monday that it is assembling its flagship iPhone 14 in India. “The new iPhone 14 lineup introduces groundbreaking new technologies and important safety capabilities. We’re excited to be manufacturing iPhone 14 in India,” the company said in a statement. The devices are…
Despite a cost-of-living crisis that is eating into household budgets, British home improvement retailer Kingfisher reported a 29.5% drop in first-half profit. CEO Thierry Garnier told reporters that, with the exception of outdoor, sales in all product categories had returned to positive like-for-like growth in the previous week. “When we look at customer demand we…
Elon Musk, the CEO of Tesla, claimed that humans are superior at some tasks and that the company’s reliance on factory robots four years ago caused it to enter “production hell.” According to job postings, Musk’s Texas-based company is reportedly considering ambitious plans to use thousands of humanoid robots, also known as Tesla Bot or…
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