Gwynne Shotwell, the president of SpaceX, announced during a press conference on Tuesday that the company has begun selling satellite lasers—which are utilised for quick in-orbit communications—to other satellite companies. With fewer ground stations, SpaceX’s network can provide more global internet coverage thanks to its hundreds of Starlink satellites in low-Earth orbit, which communicate with…
China has increased the capital threshold for non-bank financial organisations that offer modest personal loans, further tightening regulations on consumer finance companies. The National Financial Regulatory Administration’s Tuesday announcement of the measures will take effect on April 18. It occurs at a moment when Beijing’s hold over the financial industry is getting stronger. According to…
AstraZeneca, an Anglo-Swedish pharmaceutical company, announced on Tuesday that it will acquire Canadian drug researcher Fusion Pharmaceuticals Inc. for $2 billion in cash as part of its bet on cancer medicines of the future. With this acquisition, AstraZeneca gains a footing in the market for radiopharmaceutical medications, which has drawn interest from investors since Novartis’…
Authorities are still debating how to address the bank’s weaknesses a year after the Credit Suisse banking crisis brought the bank to its knees. This is especially true in Switzerland, where the firm’s acquisition by rival UBS formed a massive entity. The run at little-known U.S. regional institution Silicon Valley Bank in March 2023 put…
In the 1940s, McDonald’s was a physical establishment with employees working at counters, paper menus listing the burgers and fries, and cashier employees accepting payments from customers. It wouldn’t be too much of a stretch to refer to McDonald’s as a tech company that also happens to sell burgers given how pervasive technology is in…
In an effort to reduce the cost of electric vehicles overall, Chinese manufacturer Nio and battery giant CATL struck a partnership deal on Thursday to create longer-lasting batteries. William Li, the founder and CEO of Nio, told reporters in Beijing that the company will work together to use their respective technologies to reduce what is…
Due to growth at car dealerships and petrol stations, U.S. retail sales increased in February; nevertheless, as households struggle with inflation and rising borrowing costs, consumer spending is slowing down. This month, retail sales increased by 0.6%, the Census Bureau of the Commerce Department announced on Thursday. Sales for January were down 1.1% as opposed…
A Chinese foreign ministry official criticised a bill in the United States that would require TikTok to divest or ban the platform, saying there is “no fairness to speak of” in using national security as an excuse to lessen other nations’ economic edge. The action is the most recent in a slew of steps taken…
Amin Nasser, the chief executive of Saudi Aramco, stated on Sunday that the oil giant was exploring additional investment options in China, where he claimed there was a strong and expanding need for oil. State-owned Aramco has been expanding its business in China through a series of refining and petrochemical partnerships, some of which include…
Three writers have sued Nvidia, a company whose processors enable artificial intelligence, claiming that the company utilised their copyrighted writings without their consent to train its NeMo robot and launch a new AI platform. The works of Brian Keene, Abdi Nazemian, and Stewart O’Nan were removed in October “due to reported copyright infringement.” The dataset,…
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