Business

China heatwave may have serious impact on its economy

China heatwave may have serious impact on its economy

China’s devastating heatwave is its worst in nearly 60 years and it is expected to have a knock-on effect on its economy, as factories are forced to shut down for days and crop growth is disrupted while livestock are threatened.  China is facing an intense heatwave that has swept the country for more than two…

US Fed sees more rate hikes coming, as inflation remain ‘elevated’

US Fed sees more rate hikes coming, as inflation remain ‘elevated’

The US central bankers have hinted at more interest rate hikes in the coming quarters, as it tries to tame inflation in the economy, according to the minutes of the July joint meeting of the Federal Open Market Committee (FOMC) and the Board of Governors of the Federal Reserve System, released on Wednesday. The central…

Global Semiconductor Industry adjusting to a new normal

Global Semiconductor Industry adjusting to a new normal

Heightened concerns over the demand for semiconductors, geopolitical tensions, and a global economic downturn are together creating a new normal for the semiconductor industry, which serves as a bellwether for the global economy. Semiconductor chips power everything from smartphones to laptops, electric cars, televisions and even high-end medical devices and industrial machinery.  After dealing with…

Apple lay-offs recruiters, as it slows down fresh hiring amid recession fears

Apple lay-offs recruiters, as it slows down fresh hiring amid recession fears

Apple Inc. has laid off dozens of its contract-based recruiters in the past week, as the world’s most valuable company joins other tech companies to rein in hiring and spending. The rare move by the iPhone maker also underscores fears of a slowdown in tech spending as well as that in the broader economy. Apple,…

China cuts interest rate, as key July economic data miss expectations

China cuts interest rate, as key July economic data miss expectations

China resorted to a surprise interest rate cut on Monday after the key macroeconomic data for July fell below analysts’ expectations and raised fresh concerns about growth prospects in the world’s second-biggest economy. In an effort to provide support to the Chinese economy, the People’s Bank of China (PBOC) has reduced the interest rates on…

Elon Musk challenges Twitter CEO to a public debate

Elon Musk challenges Twitter CEO to a public debate

The Chief Executive Officer of Tesla Elon Musk publicly challenged Twitter CEO Parag Agarwal to hold a one-to-one debate and prove that the number of fake users, aka bots, on Twitter is less than 5 percent of the net users. He alleged that the Twitter board showed bogus data when they discussed the terms in…

Amazon Partners With Oscar de la Renta

Amazon Partners With Oscar de la Renta

Amazon Partners With Oscar de la Renta To Foray Into The Luxury Fashion Segment For Prime Members  Amazon.com Inc. (NASDAQ:AMZN) is foraying into the luxury fashion segment through a partnership with Oscar de la Renta. The e-Commerce giant will launch several high-end fashion stores in what is seen as a big blow to the struggling…

Nikola Shares Tank

Nikola Shares Tank

Nikola Shares Tank Following Short-Seller Firm, Hindenburg Research’s Fraud Allegations  Nikola Corporation (NASDAQ: NKLA) shares plunged last Friday by over 14% after the company fired back against fraud allegations report by Hindenburg Research.  The electric vehicle company has denied the allegations of being an “intricate fraud” and considers possible legal action. Hindenburg Research accuses Nikola…

Facebook launch election study

Facebook launch election study

Facebook launch election study Facebook Spending Almost $50 Million On An Election Impact Study Facebook has launched a study on social media impact on elections and democracy. The company has lined up millions of dollars in payments to the study participants. The Facebook election impact study will involve asking people to complete a survey or…

Samsung lands significant 5G contracts

Samsung lands significant 5G contracts

Samsung lands significant 5G contracts – Samsung Gets Closer To Target With $6.6 Billion Verizon 5G Deal Samsung has landed one of its most significant 5G contracts. Verizon signed the South Korean conglomerate for a five-year 5G deal worth more than $6.6 billion. Samsung revealed the Verizon 5G contract in a regulatory filing in Korea…

DoD Reaffirms the JEDI Contract

DoD Reaffirms the JEDI Contract

DoD Reaffirms the JEDI Contract Microsoft, It Is! DoD Reaffirms the JEDI Contract Award Despite Amazon Protestations Microsoft Corporation (NASDAQ:MSFT) remains the Defense Department’s favorite in the controversial Joint Enterprise Defense Infrastructure (JEDI) contract. The Pentagon decided on Friday after a legal battle that has lasted for ten months. Amazon.com, Inc. (NASDAQ:AMZN) was MSFT’s major…

Walmart Confirms Interest in TikTok

Walmart Confirms Interest in TikTok, But Why?

Walmart Confirms Interest in TikTok – Walmart Inc. (NYSE: WMT) is the latest among the suitors looking to snap up TikTok. The Wall Street Journal reported that WMT is co-bidding for the US operations of TikTok with Microsoft Corporation (NASDAQ: MSFT). It would be the latest – and boldest – gambit for Doug McMillon. The…