According to a report published in the Financial Times, Apple Inc is set to sign a contract with Chinese contract manufacturer Luxshare Precision Industry Co Ltd to produce premium iPhone models. Luxshare has been producing small quantities of the iPhone 14 Pro Max at its Kunshan plant to compensate for lost production at Foxconn’s Zhengzhou plant…
Google has told an Indian tribunal that the country’s antitrust investigators copied parts of a European ruling against the company for abusing its market dominance with its Android operating system, arguing that the decision should be overturned, according to court documents. The Competition Commission of India (CCI) fined Alphabet Inc’s Google $161 million in October…
Sam Bankman-Fried pleaded not guilty on Tuesday to criminal charges that he defrauded investors in his now-defunct FTX cryptocurrency exchange and caused billions of dollars in losses in a “epic” fraud, according to prosecutors. He entered his plea in federal court in Manhattan, where he faces eight criminal charges, including wire fraud and money laundering…
According to correspondence obtained by CNBC, SpaceX, Elon Musk’s manufacturer of reusable rockets and provider of satellite internet, is raising $750 million in a new round of funding that values the company at $137 billion. The news that SpaceX was allowing insiders to sell shares at a price of $77 per share, or about $140…
According to a statement from the company’s Japan subsidiary, Japanese FTX users will be able to begin withdrawing funds from the defunct cryptocurrency exchange in February. FTX Japan announced on Thursday that it was working on a system to resume withdrawals through the website of Liquid Japan, a cryptocurrency exchange it purchased earlier this year.…
Analysts predict that Chinese airlines will be the early winners of the country’s international reopening, having kept most widebody planes and personnel ready while foreign carriers struggled with capacity constraints following previous border openings. According to a McKinsey analysis of Cirium data, less than one-fifth of China’s widebody fleet of about 500 planes is in…
As it looks for acquisitions to accelerate growth, Infineon is prepared to spend several billion euros on the ideal takeover target, according to Chief Executive Jochen Hanebeck in an interview that was published on Wednesday. Hanebeck told Frankfurter Allgemeine Zeitung that the German chip manufacturer is constantly “on the lookout” for suitable businesses (FAZ). “I…
Elon Musk, the CEO of Tesla Inc., advised staff not to be “bothered by stock market craziness” after the company’s shares dropped nearly 70% this year due to concerns about waning interest in electric vehicles and Musk’s diversion from running Twitter. Musk expressed his opinion that Tesla will eventually be the most valuable company on…
Richter, a Hungarian pharmaceutical company, said on Tuesday that it anticipates paying an additional 28 billion forints ($74.44 million) in taxes this year due to tax increases on large corporations implemented to close budget gaps. The government of Prime Minister Viktor Orban declared on Friday that a windfall tax imposed on pharmaceutical companies based on…
Woolworths has announced that hot cross buns will be arriving on shelves a little early now that Christmas Day has officially passed. The announcement has some customers incensed. Even though the holiday is still more than three months away, Woolworths has announced that hot cross buns with Cadbury Caramilk chips, which are only available in…
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