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SVB Financial Files For Bankruptcy As The Banking Crisis Continues

SVB Financial Files For Bankruptcy As The Banking Crisis Continues

Days after its former subsidiary Silicon Valley Bank was taken over by American regulators, SVB Financial Group announced on Friday that it had filed for a court-supervised reorganization under Chapter 11 bankruptcy protection to seek buyers for its assets.   The decision to start bankruptcy...
Tesla Seeks Asian Partnerships To Tackle Concerns About The 4680 Battery

Tesla Seeks Asian Partnerships To Tackle Concerns About The 4680 Battery

It's decision time at Tesla Inc, where Elon Musk is trying to figure out how to make better, cheaper batteries.   According to people familiar with the plans, the electric-vehicle maker is recruiting Chinese and Korean materials suppliers to help lower the cost and increase the energy of its...
WeWork Negotiating With Investors For Restructuring Of More Than $3 Bln Debt: Report

WeWork Negotiating With Investors For Restructuring Of More Than $3 Bln Debt: Report

The New York Times reported on Tuesday that WeWork Inc is in talks with investors to restructure its more than $3 billion in outstanding debt and raise more cash.   Following the news, the company's stock rose about 5% in extended trading.   The company, which provides workstations,...
Nvidia, And AMD Are Grappling With The Latest US Restrictions On China's Inspur

Nvidia, And AMD Are Grappling With The Latest US Restrictions On China's Inspur

After being added to a U.S. export blacklist last week, Nvidia Corp, Advanced Micro Devices Inc, and other tech companies are rushing to determine whether they must halt sales to divisions of China's Inspur Group Ltd.   Inspur was last week added to the US's trade sanctions list for...
Foxconn Is In A Rush To Join The EV Field

Foxconn Is In A Rush To Join The EV Field

Foxconn wants to replicate its success with the iPhone for electric vehicles (EVs), but it must first identify the next Apple quickly.   When it comes to building white-label EVs that can be customized for customers, including major automakers, delivery services, and other businesses, the...
Tesla Reduces Prices Of Model S And Model X In The US By 4% To 9%

Tesla Reduces Prices Of Model S And Model X In The US By 4% To 9%

Tesla Inc has reduced prices on the two most expensive electric vehicles in the United States, according to information from the website of the company. This comes just a few days since the company's Chief Executive Elon Musk said that the recent price discounts on...
IndiGo Ignites Competition Between Boeing And Airbus For Record-Breaking Jet Orders

IndiGo Ignites Competition Between Boeing And Airbus For Record-Breaking Jet Orders

According to industry sources, Indian low-cost carrier IndiGo is in negotiations with both Boeing and its current supplier Airbus to order more than 500 passenger jets, which could top the record set by domestic rival Air India a few weeks ago.   The largest airline in India has only...
Ford Is Examining Ways To Increase Production Of The Gas-Powered F-150

Ford Is Examining Ways To Increase Production Of The Gas-Powered F-150

Ford Motor Company has stated that as part of a larger plan to increase production of several models, it is looking into ways to increase output of gasoline-powered and hybrid F-150 trucks at a Michigan factory.   The second-largest US automaker announced that it will increase production of...
French Energy Behemoth EDF Reports Its Worst Performance Ever

French Energy Behemoth EDF Reports Its Worst Performance Ever

Despite the fact that energy prices rose to previously unheard-of heights, 2022 was a miserable year for France's state-controlled power company EDF, which posted annual losses of a record €17.9 billion.   Energy price caps for French consumers had a significant negative impact on EDF's...
Even With Pressure On Earnings, Mercedes-Benz Seeks To Increase Direct Sales.

Even With Pressure On Earnings, Mercedes-Benz Seeks To Increase Direct Sales.

In light of the uncertain economic climate, Mercedes-Benz Group on Friday issued a warning about lower earnings this year and announced plans to increase direct vehicle sales in important markets like Germany and Britain while maintaining its focus on high margins on stable volume.   Even...
Plans For Microsoft's Bing To Make Early Pitches For AI Ads To Advertisers

Plans For Microsoft's Bing To Make Early Pitches For AI Ads To Advertisers

As the tech giant attempts to challenge Google's hegemony, Microsoft has begun talking with advertising agencies about how it intends to monetize its updated Bing search engine.   An advertising executive who spoke about the private meeting on the condition of anonymity said that Microsoft...
Tencent Abandons Plans For VR Hardware As Its Bet On The Metaverse Fails: Reuters

Tencent Abandons Plans For VR Hardware As Its Bet On The Metaverse Fails: Reuters

According to three sources familiar with the situation, Tencent Holdings is giving up on its plans to enter the virtual reality hardware market as a dim economic outlook forces the Chinese tech giant to reduce spending and staffing at its metaverse division.   At a "extended reality" XR unit...
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World

Global Warming Causes The First 12-Month Period Above 1.5C

Global Warming Causes The First 12-Month Period Above 1.5C
According to the European Union's climate change monitoring service, the world just had its warmest January on record, making it the first 12-month period in which average temperatures were more than...

2023 Was The Second-Warmest Year Ever For The UK

2023 Was The Second-Warmest Year Ever For The UK
The national weather service of the United Kingdom, Met Office, announced that 2023 was the second-warmest year on record for Britain. This finding highlights the increasing influence of human-caused...

Fury And Dissatisfaction As The COP28 Draft Language Leaves Out The Phase-Out Of Fossil Fuels

Fury And Dissatisfaction As The COP28 Draft Language Leaves Out The Phase-Out Of Fossil Fuels
On the last day of the global conference, the proposed language for a COP28 climate agreement that does not call for the phase-out of fossil fuels has come under heavy fire from influential figures,...

Brazil Joins The Global Climate Accord To Increase Renewable Energy Usage By Three Folds

Brazil Joins The Global Climate Accord To Increase Renewable Energy Usage By Three Folds
Brazil has joined a potential agreement supported by the United Arab Emirates, the United States, and the European Union to treble the amount of renewable energy produced globally by 2030 and move...

The Rise of India and the Decarbonisation of its Economy

The Rise of India and the Decarbonisation of its Economy
Ranked 14th in the world for gas consumption in 2022, with a growing dependence on imports, India plans to further increase its use of LNG. This appetite stems from both the economic development of...

People

New Study Finds People Who Were Class Bullies Could Make Higher Incomes In Their Middle Age

New Study Finds People Who Were Class Bullies Could Make Higher Incomes In Their Middle Age
A recent study challenges the widely held belief that school bullies would eventually get their comeuppance by indicating that they are likely to end up with greater earnings. The Institute for...

In A New York Corporate Fraud Lawsuit, Trump Slapped Fines And Interest Of $454 Million

In A New York Corporate Fraud Lawsuit, Trump Slapped Fines And Interest Of $454 Million
A New York judge ruled in the former president's civil business fraud trial on Friday, ordering him to pay a total of approximately $454 million in penalties.   According to an attorney...

Survey Finds 80% Employees In Asia Face Moderate To High Risk For Mental Health Issues

Survey Finds 80% Employees In Asia Face Moderate To High Risk For Mental Health Issues
Employees in Asia are under "significant mental health strain," with 82% at moderate to high risk of being depressed.   According to a recent study by insurance broker Aon and TELUS Health,...

The Way Bankman-Fried Of FTX Obtained A $250 Mln Bail

The Way Bankman-Fried Of FTX Obtained A $250 Mln Bail
On Thursday, FTX founder Sam Bankman-Fried agreed to a bail deal that would see him released on a $250 million bond secured against his parents' property, with movement restrictions.  ...

Majority Of Elon Musk’s Twitter Followers Do Not Want Him As Twitter Chief, Shows A Musk-Conducted Pool

Majority Of Elon Musk’s Twitter Followers Do Not Want Him As Twitter Chief, Shows A Musk-Conducted Pool
Less than two months after taking over as CEO of the social media platform, Elon Musk faced backlash from Twitter users who voted in a poll for him to resign.   According to the poll the...