The chairman of the International Seabed Authority, the U.N. agency in charge of supervising deep-sea mining, believes that mining the ocean floor for precious metals is probably just a matter of time.Global interest in deep-sea mining has increased to levels not seen since the 1970s, according to Michael Lodge, secretary-general of the ISA, who spoke…
Last week, Sony’s shares saw a value loss of about $10 billion when the Japanese electronics giant reduced its sales projections for the PlayStation 5, its flagship platform, for the upcoming fiscal year. Analysts said that a greater concern for the company is its diminishing margins in its core gaming industry, adding to their already high…
Sources close to the situation claim that talks are underway for the Biden administration to give Intel subsidies worth over $10 billion. According to the article, negotiations are now in progress, and Intel’s award package is expected to comprise both loans and direct grants. Intel and the US Department of Commerce, which is in charge…
When US retailer Walmart Inc. releases its earnings on Tuesday, it is anticipated to adopt a cautious stance for 2024. Walmart most likely had a record-breaking holiday season, but many Americans are still burdened by inflation and their high cost of living. Increased rental costs caused U.S. consumer prices to rise more than anticipated in…
HSBC intends to strengthen risk management at its Hong Kong subsidiary Hang Seng Bank as a result of concerns about a possible increase in bad loans in the face of escalating economic challenges and the property sector crisis in China, according to a Reuters reports quoting information from two persons with knowledge of the situation.…
Just hours after surpassing Amazon, Nvidia surpassed Google-parent Alphabet to take the third spot as the most valuable American corporation on Wednesday, with investors awaiting the leading AI chipmaker’s next quarterly report. The stock of the Santa Clara, California-based corporation increased by 2.46%, making it worth $1.825 trillion, while Alphabet’s stock increased by 0.55%, making…
A fresh charge of 200 million euros ($214.62 million) at its ailing Space unit muted the cheers of record aeroplane orders and higher deliveries, but Europe’s Airbus announced a special dividend on Thursday. The largest commercial aircraft manufacturer in the world reported that core adjusted operating profit increased 4% to 5.8 billion euros while revenue…
Tuesday saw the dominating AI chipmaker Nvidia close in on Alphabet as Wall Street’s third most valuable business, surpassing the latter’s market valuation for the first time in 20 years. After falling 2.15 percent, Nvidia’s stock value of $1.78 trillion eclipsed that of Amazon, the market leader in cloud computing and online commerce, whose value…
Targeting new oilfields that can turn a profit even in the event that oil prices drop to about $30 per barrel, oil majors are reshaping their portfolios in light of the uncertain future of the sector. This is the third year of increased demand. Despite recent strong earnings, investors have not retracted from oil stock…
According to people with firsthand knowledge of the situation, Indian non-bank lenders are considering alternatives to Paytm for loan disbursement because they are concerned about the regulatory issue that the company is facing and how it may affect lending services going forward. Due to consistent regulation violations, the central bank ordered Paytm’s banking division to…
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