The world’s most indebted developer, China Evergrande, was ordered to be liquidated by a Hong Kong court on Monday. The action would rock China’s already precarious real estate and capital markets. A procedure like this could be difficult, with political factors to take into account because there are numerous authorities involved. A provisional liquidator and…
According to Wang Wentao, China’s commerce minister, the United States and China are collaborating to make the business environment more stable and predictable. Following the visit of U.S. Commerce Secretary Gina Raimondo to China in the summer of last year, the two nations have decided to regularly schedule talks at the ministerial level and lower.…
Due to its lax immigration laws, attractive incentives for foreign companies and labour, and absence of personal income tax, the United Arab Emirates has long been the preferred hub for technology in the Middle East. However, Saudi Arabia has made it clear on the Davos Promenade this year that it wants to steal some of…
Federal prosecutors filed accusations against a German businessman on Friday, claiming that he conned investors out of almost $150 million through a cryptocurrency scam. Horst Jicha marketed USI Tech, the business he started and oversaw as CEO, according to the prosecution, as a cryptocurrency mining and trading platform “accessible to the average retail investor.” In…
In an effort to win over European antitrust authorities, Apple has promised to allow competitors to access and use its contactless payment technology. Users can make purchases with Apple Pay, the company’s mobile payment function, by only tapping their iPhones, which are powered by the iOS operating system. Its payment technology was previously unavailable to…
At its Port Talbot steelworks in Wales, Tata Steel announced on Friday that it would close its two blast furnaces in the United Kingdom by the end of the year, potentially displacing up to 2,800 workers. The closures are a component of India-owned Tata Steel’s ambition, supported by 500 million pounds ($634.10 million) in government…
The competition inspector of the European Union intends to restrict Amazon.com’s, opens new tab According to persons familiar with the situation, The Wall Street Journal reported on Thursday that the $1.4 billion acquisition of robot vacuum manufacturer iRobot creates a new chapter. Following the bell, shares of the Roomba vacuum manufacturer fell by over 40%…
In a strong indication that individuals are upskilling to take advantage of the future boom in generative AI, CEO Jeff Maggioncalda of the American edutech platform Coursera stated on Thursday that the company will add a new user to its artificial intelligence courses every minute on average starting in 2023. With the help of OpenAI’s…
In an attempt to take on Apple, Samsung Electronics has revealed that its newest high-end smartphones, which were presented on Wednesday, will be equipped with a variety of artificial intelligence features, including simultaneous translation of phone calls into foreign languages. According to data provider International Data Corporation, Apple overtook Samsung in 2023 smartphone shipments and…
A week after announcing price reductions for its Model 3 and Model Y vehicles in China, Tesla has reduced the cost of its Model Y vehicles in a number of European nations. Based on information from the local versions of the company’s websites in each of those areas, the company lowered the pricing of its…
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