Five months after its release, major Chinese third-party retailers JD.com, TMall, and Pinduoduo are fighting for customers by slashing prices on Apple’s iPhone 15, even if sales of the American tech giant are slowing down in China. The most recent round of reductions follows similar large discounts from internet merchants in October. Discounts of up…
According to a key indicator the Federal Reserve analyses when deciding whether to decrease interest rates, U.S. inflation increased in January as predicted. As anticipated by the Dow Jones consensus forecasts, the personal consumption expenditures price index, which excludes food and energy costs, grew by 2.8% from a year ago and by 0.4% for the…
China’s Baidu reported a 6% increase in revenue for the fourth quarter, attributed to growth in its advertising business and profits from its AI applications. According to LSEG statistics, the company generated sales of 34.95 billion yuan ($4.92 billion) for the three months ending in December, which was about in line with analysts’ average expectation…
Google’s artificial intelligence (AI) tool Gemini has got, to put it mildly, an absolute kicking online during the past several days. The cultural conflict between left- and right-leaning groups has thrown Gemini into a very big conflagration. In essence, Gemini is Google’s take on ChatGPT, the popular chatbot. It can produce images in response to…
Through a collaboration with Indian vaccine manufacturer Biological E, Japan’s Takeda Pharmaceutical plans to increase production of its dengue vaccine Qdenga, the firms announced on Tuesday. By 2030, governments in endemic countries will have access to these dosages for use in their national immunisation efforts. According to the firms, Biological E. will increase its production…
According to a top U.S. bank regulator, banks that collaborate with financial technology businesses to provide banking services ought to aggressively manage the risks connected to those partnerships. Acting Comptroller of the Currency Michael Hsu has long voiced concerns regarding some regulatory vulnerabilities in the payments system, highlighting the regulators’ obligations to make sure banks…
Tech is going to have a huge year in 2024. Nvidia recently exceeded analyst earnings forecasts. The growth in artificial intelligence is still going strong. The tech-heavy Nasdaq index has increased by over 8% so far this year. The U.S. economy is also performing remarkably well; in January, it added 353,000 jobs, far more than…
Joe Tsai, a co-founder of Alibaba, has stated that the Chinese e-commerce behemoth is once again poised to dominate the market following a period of strain. After a number of internal reorganisations, a cancelled cloud computing IPO, and competition for its primary e-commerce business, concerns about Alibaba’s future have grown. The long-standing titan of Chinese…
Nearly 20 years after it first launched as an online message board, Reddit is going ahead with plans to offer shares to the general public. On Thursday, the business formally filed for an initial public offering (IPO) with US financial regulators. The amount of money the company hopes to raise by listing on the New…
The world economy is clearly splitting into two distinct blocs two years after Russia invaded Ukraine, and the multilateral trade agreements that have supported trade for almost 30 years are in jeopardy. Sanctions, trade restrictions, and indications of a growing rift between nations supporting Russia and those supporting Ukraine are the results of growing geopolitical…
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