Ford Motor Company has recently announced a significant shift in its production plans, opting to expand the manufacturing of its large Super Duty trucks at a Canadian plant that was initially slated for conversion into an all-electric vehicle hub. This new direction will involve an investment of approximately $3 billion, with $2.3 billion allocated to
Following a tech selloff on Wall Street, chip stocks in Asia took a hit on Thursday amidst reports of potential tighter export restrictions from the U.S. The world’s biggest chip supplier, Taiwan Semiconductor Manufacturing Company, saw its shares fall by as much as 4.3% in Asia trade. This decline was echoed in the stocks of
Recently, it has come to light that GitLab, a cloud-based software development tools provider based in the U.S., is considering a sale following interest from potential buyers. The market value of GitLab is estimated to be around $8 billion, making it an attractive prospect for acquisition. This decision has garnered attention from various industry players,
General Motors has unveiled its plans to ramp up production of the Cadillac Escalade V-Series for the upcoming 2025 model year. This flagship SUV is receiving a slew of updates and enhancements that are set to redefine the standard of full-size SUV luxury. With its combination of American craftsmanship, cutting-edge technology, and impressive performance, the
Anthropic, a leading artificial intelligence startup, has joined forces with Menlo Ventures to establish the Anthology Fund, a $100 million initiative aimed at supporting early-stage startups. This collaboration mirrors the successful partnership between Apple and Kleiner Perkins with the iFund, which revolutionized support for developers on Apple’s mobile platforms. Matt Murphy, a partner at Menlo
Former U.S. President Donald Trump recently made headlines with his statement that Taiwan should pay the U.S. for defense, citing that the country “doesn’t give us anything.” This comment came in response to a question about defending Taiwan against China, revealing a complicated stance on international relations. Trump’s remarks raise concerns about the nature of
The semiconductor industry took a hit in premarket trading as some of the largest chip stocks experienced declines. This was attributed to a Bloomberg News report suggesting that the Biden Administration is considering imposing stricter trade restrictions in response to concerns about U.S. companies granting China increased access to domestic semiconductor technology. Nvidia, Taiwan Semiconductor,
China’s financial support for key industrial sectors has come under scrutiny by the World Trade Organization (WTO) due to a perceived lack of transparency. The WTO raised concerns regarding the lack of clarity surrounding the incentives and financial support provided by China to industries such as electric vehicles, aluminium, and steel production over a specific
India’s film industry has seen a significant shift in 2024 with the sci-fi film Kalki 2898 AD emerging as the highest-grossing film for the first half of the year. Starring Amitabh Bachchan, Kamal Haasan, and Prabhas, the film has made a remarkable contribution of 15% to the overall box office earnings, reaching a staggering $92.3M
The International Monetary Fund (IMF) recently issued a warning regarding the potential upside risks to inflation, which could impact the Federal Reserve’s decisions on interest rates in the coming months. According to the IMF’s latest World Economic Outlook update, there has been a concerning slowdown in global disinflation momentum, indicating potential obstacles ahead. The report