Indonesia’s $220 million Nusantara-2 satellite was destroyed after a Chinese rocket malfunctioned shortly after launch in April 2020, severely harming the archipelago’s attempts to fortify its communication networks. However, it gave one individual an opportunity. Elon Musk, the proprietor of SpaceX, the most successful rocket launcher in the world, capitalised on the fact that his…
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…
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…
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…
According to inspection records accessed by Reuters, Elon Musk’s SpaceX was fined $3,600 last month by US worker safety inspectors following an incident at the company’s Washington state location that resulted in a “near amputation.” According to a late-year Reuters investigation, Musk’s rocket company ignored conventional operating procedures and worker safety laws at its locations…
The Indian Express revealed on Sunday that Israel’s Tower Semiconductor has put in a bid to construct a $8 billion chip manufacturing plant in India. In order to implement its proposal, Tower plans to manufacture 40 and 65 nanometer chips domestically while pursuing government incentives. One of Prime Minister Narendra Modi’s top business priorities is…
According to reports on Sunday, an approximately $25 billion cash and stock merger between rival U.S. shale oil producers Diamondback Energy and Endeavour Energy Resources is almost complete, creating an oil and gas business valued at over $50 billion. According to the people, Diamondback may make an announcement as soon as Monday that would give…
Xiaomi, a Chinese company, informed the Indian government that their stringent oversight of Chinese businesses has discouraged suppliers of smartphone components from opening offices in India, according to reports quoting information based on a letter and a person with direct knowledge of the situation. According to the letter dated February 6, Xiaomi, which holds the…
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