In an effort to encourage families to contribute to China’s fight against climate change, the local government is encouraging passengers at a glittering new metro station on the outskirts of Shenzhen to collect “carbon coins” that they can then exchange for shopping vouchers and travel cards. The “Carbon Road for Everyone” programme in the southeast…
The conflict between hybrids and electric cars appears to have taken a new turn as Elon Musk of Tesla Inc. has apparently decided to put more emphasis on hybrids. According to a Wall Street Journal story, Musk confronts a struggle as U.S. EV sales growth slows and hybrids acquire new popularity. Musk wants to overtake…
For 12,000 workers in the UK, KPMG has frozen pay; they will not receive raises unless they are promoted. This follows the deals advisory arm’s layoffs and salary freezes. Roughly 12,000 UK employees’ salaries have apparently been suspended by KPMG, one of the Big Four accounting firms. The Financial Times reported that KPMG executives told…
In what looked to be a more muted Black Friday than in previous years, consumers descended upon stores worldwide in search of deals on electronics, apparel, and household products as the start of the holiday shopping season—a critical period for major retailers. Brokerage TD Cowen predicted flat Black Friday traffic, so it cut its projection…
According to government data, electronics worth a record $74 million, including solar panels and microchips primarily from Malaysia and Vietnam, were either refused entry into the United States in September or had their components inspected for evidence of forced labour in China. Tighter U.S. regulations aimed at addressing human rights abuses in China’s Xinjiang region—home…
As the firm launches technologies that might upend industries, Sam Altman’s return to the CEO position at OpenAI will likely tighten his hold on the company and reduce the number of checks on his authority, according to analysts and specialists in corporate governance. Only a few days after being fired, Altman is returning to OpenAI,…
Among the 27 businesses granted permission to produce IT gear in India under a production-linked incentive programme are global tech behemoths Dell, HP, and Lenovo from China. India wants to increase local manufacturing and draw significant investments across the value chain. The government of India authorised the PLI Scheme 2.0 for IT gear in May,…
McDonald’s announced that it has reached an agreement to increase its ownership of its business in China to just less than 50%, demonstrating its optimism in the burger chain’s future in the second-largest economy in the world. The action stands in stark contrast to the current trend of global firms pulling back their investments in…
One day after the board removed Sam Altman as CEO, investors in OpenAI are pressing for his reinstatement, according to reports quoting information from sources with knowledge of the situation. Several of OpenAI’s leading supporters, including Microsoft, Tiger Global, and venture capital company Thrive Capital, are involved in an attempt to have Altman reinstated, according to…
On Saturday, SpaceX launched its second Starship rocket flight, marking yet another significant advancement in the creation of Elon Musk’s massive spacecraft. Starship took off from the company’s Texas facility at around eight in the morning ET and flew for over seven minutes, safely separating from its booster before the rocket’s onboard technology purposefully killed…
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