In a strategic move towards the future of electric vehicles, Volkswagen announced a $700 million investment in Xpeng in July 2023. This collaboration aims to develop two new electric cars specifically for the Chinese market by 2026. The vehicles will be based on the platform of Xpeng’s G9, a popular midsize electric crossover SUV. This
The ongoing trial involving the Federal Trade Commission, grocery chain Kroger, and rival Albertsons has brought to light the intersection of antitrust laws and labor market dynamics. Chair Lina Khan’s initiative to utilize antitrust laws to safeguard workers’ rights is being put to the test in this high-profile case. The implications of this trial go
The exponential growth of the crypto industry has led to a significant increase in the population of crypto millionaires worldwide. According to a recent report by New World Wealth and Henley & Partners, the number of individuals holding more than $1 million in crypto assets has surged by a staggering 95% over the past year.
As the demand for artificial intelligence continues to grow, the need for more powerful processors and energy-efficient data centers is becoming increasingly important. Sustainable Metal Cloud, a data center company operating in Singapore and Australia, has introduced the concept of “sustainable AI factories” powered by its innovative HyperCubes. These HyperCubes contain servers equipped with Nvidia
Fans of the Dallas Mavericks and New Orleans Pelicans are eagerly awaiting news on how they will be able to watch their local games in the upcoming NBA season. Both teams have decided to part ways with their regional sports networks owned by Diamond Sports, as revealed in a recent bankruptcy court filing. While the
The S&P 500 closed lower at the end of the trading day on Monday, partly due to the anticipation surrounding Nvidia’s upcoming quarterly report. The stock of the AI giant, Nvidia, fell by 2.25% ahead of its report scheduled for Wednesday, creating angst amongst investors. This decline in Nvidia’s stock price raised concerns among market
Federal Reserve Chair Jerome Powell’s recent speech at the Jackson Hole Economic Symposium has sparked discussions and debates about the central bank’s stance on monetary policy. Powell’s signaling of the Fed’s preparedness to lower interest rates has aligned with market expectations for a series of rate cuts. This move indicates a shift towards supporting the
In recent times, China has been making significant strides in the development of humanlike robots. At the World Robot Conference in Beijing, a record 27 humanoids were unveiled, showcasing the country’s rapid progress in this field. This surge in interest and investment in humanoid robots mirrors China’s previous rush into electric cars a few years
Over the past weekend, the international box office saw exceptional performances from various films, with significant milestones reached. Notably, Disney/Pixar’s Inside Out 2 achieved a major feat by becoming the first animated movie to surpass the $1 billion mark at the international box office, currently standing at $1.003 billion. This remarkable achievement solidifies its position
The federal government has taken a stern approach towards individuals with seriously delinquent tax debts, resulting in potential passport revocation or limitations. This enforcement mechanism, in place since 2018, serves as a last resort to collect unpaid tax levies. The threshold for seriously delinquent tax debt, currently over $62,000, includes federal tax liabilities, penalties, and