The Financial Times reported on Wednesday that the European Union is drafting plans to levy customs tariffs on inexpensive items purchased from Chinese online merchants including Temu, Shein, and AliExpress. The story cited three people who were briefed on the topic. The article stated that later this month, the European Commission would propose eliminating the…
John Donahoe, the CEO of Nike, seems to be in trouble. Wall Street’s trust is beginning to wane for the former eBay top executive, who has led Nike since January 2020, following the company’s disappointing fiscal year-ending news. Nike issued a warning earlier this week, citing the possibility of a startling 10% decrease in sales…
The political meme has found fresh life thanks to TikTok, which is sardonic, absurd, and occasionally plain unpleasant. However, to what extent is it genuinely impacting the general election? With almost eight million views on a five-second video of him mouthing the lyrics to an Eminem song, “guess who’s back?”, Nigel Farage is the unexpected…
As part of its strategy to reduce debt and concentrate its investments on artificial intelligence, SoftBank has disclosed plans to sell bonds denominated in dollars and euros. The massive Japanese holding firm said that it will issue bonds worth around $900 million in US dollars, payable in two installments, as well as bonds worth 900…
The CEO of Honour, a Chinese smartphone maker, stated in an interview that user data protection is crucial before any artificial intelligence can truly revolutionise the world. His remarks coincide with Apple’s announcement earlier this month that it will begin deploying customised AI features on certain devices in the United States coming autumn. Some AI…
According to CEO Jim Farley, Ford Motor plans to launch a successful all-electric car for $30,000 in around 2.5 years, which he said on Friday at the Aspen Ideas Festival. Farley noted that the vehicle’s primary competitors are projected to be Chinese manufacturers like BYD and an upcoming entry-level car from U.S. EV leader Tesla.…
According to a report by Bloomberg News on Thursday, Japanese technology investor SoftBank Group Corp’s Vision Fund 2 is investing between $10 million and $20 million at a valuation of $3 billion in the U.S. search firm Perplexity AI. SoftBank plans to contribute this sum as a component of a broader $250 million capital round,…
The new co-leaders of UBS, Rob Karofsky and Iqbal Khan, stated in their first internal memo, which was leaked to the public on Thursday, that UBS is implementing adjustments to its wealth management sector. As part of a reorganisation of its executive board, UBS said last month that it would divide its top wealth management…
Shein’s possible London IPO, according to Amnesty International UK, would be a “badge of shame” for the London Stock Exchange due to the fast-fashion company’s “questionable” labour and human rights standards. This was said on Tuesday. According to two people who spoke with Reuters on Monday, Shein secretly submitted documents with the British markets regulator…
Tuesday’s trading in global semiconductor equities was erratic following the previous session’s decline in Nvidia shares. Early trading saw a decline in the stock prices of semiconductor companies in Europe and Asia as investors responded to Nvidia’s more than $500 billion market capitalization loss over the course of three trading days. However, some of the…
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