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Huawei Executive Dismisses Notion That Lack Of Superior Chips Could Impede China's AI Aspirations

A top official at the Chinese tech behemoth Huawei refuted on Thursday the notion that the nation's ambition to become a leader in artificial intelligence will be hampered by a lack of the most cutting-edge chips, stating that creativity is required to solve the problem.   The remarks made...

Indonesia's First EV Battery Facility Inaugurated By Hyundai Motor And LG Energy Solution

The first battery cell production factory for electric cars in Indonesia was opened on Wednesday by LG Energy Solution (LGES) and the Hyundai Motor Group of South Korea. The project can produce 10 gigawatt hours (GWh) of battery cells annually.   The factory, which is a part of Hyundai Motor...

Indian Authorities Interrogate Executives About Recruiting When They Visit The Foxconn iPhone Facility

Indian labour inspectors inquired about Foxconn's recruiting procedures during a visit to a southern plant this week, an official said. The inquiry followed Reuters' revelation that the company, a key Apple supplier, had been turning away married women for iPhone assembly positions.   A....

As Microsoft Cloud Gets Traction, Amazon Is Increasing The Value Of Credits For Some Firms To Develop On AWS

Amazon reportedly plans to increase the value of credits it gives select businesses to utilise its cloud infrastructure by double because of increased competition from Microsoft in the artificial intelligence services market.   The Amazon cloud subsidiary informed venture capitalists this...

In China, Apple's Vision Pro Is Being Delivered At A Greater Cost Than In The United States

This week, Apple's mixed-reality headset—which retails for around 18% more than it does in the United States—started shipping to China.  In China, the device's starting price is 29,999 yuan, or $4,128; in the United States, its retail price is $3,500.   When questioned by the media, a...

Citigroup Requests That The Former Managing Director's Whistleblower Case Be Dismissed

A former managing director claimed the bank fired her in punishment for not lying to regulators about the firm's risk management procedures, and Citigroup requested a judge to reject the action.   As per a complaint made on Thursday night in Manhattan federal court, the third-largest U.S....

US Prosecutors Meet With Victims Of The Boeing Disaster As A Decision About Criminal Charges Approaches

A deadline of July 7th for the Justice Department to choose whether to charge the planemaker criminally is approaching, and U.S. prosecutors are meeting with Boeing and the family of those killed in crashes, according to two individuals with knowledge of the situation and emails seen by Reuters....

Uber Compensates US Drivers To Use Alternate Forms Of Transportation For A Period Of Five Weeks

In an attempt to increase business and contribute to emissions reduction, Uber said on Thursday that it will provide $1,000 in credits to certain commuters in the United States and Canada who give up driving for five weeks in favour of public transportation and other options.   For a number...

June Sales Decline And Uncertainty Over The Margin Target Cause H&M Shares To Fall

After missing quarterly profits estimates and projecting a decline in June sales, H&M raised doubts about its full-year profit margin objective on Thursday. This caused shares of the second-largest apparel retailer in the world to drop by over 14%.   According to the Swedish corporation,...

BP Stops Recruiting And Slows The Roll-Out Of Renewable Energy To Woo Investors

Amidst investor dissatisfaction with BP's energy transition plan, Murray Auchincloss, the firm's new CEO, has put a stop to recruiting and stopped new offshore wind projects. According to sources within the business, Auchincloss is placing a fresh emphasis on oil and gas.   The actions,...

Volkswagen Drops Concerns Over The Expenses And Ramifications Of The Rivian Deal

Volkswagen's stock dropped on Wednesday as investors expressed concern about the costs and unknowns associated with a joint venture with American EV manufacturer Rivian, which was intended to strengthen the European automaker's lead in EV sales.   In an effort to share EV systems and...

With The Teams App, Microsoft Faces An EU Antitrust Lawsuit And A Large Punishment

The European Commission accused Microsoft of illegally connecting its chat and video programme Teams with its Office product, giving it an unfair edge over competitors like Slack. As a result, Microsoft risks a hefty antitrust penalties.   The EU competition watchdog's most recent move,...
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