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SK Telecom, LG Uplus, KT Fined for Alleged Rent Price Fixing Collusion

Jan 25, 2024 07:15 am UTC| Business

South Koreas Fair Trade Commission (FTC) fined SK Telecom, KT Corporation, and LG Uplus on Thursday, Jan. 25. The commission said the local telecom firms were penalized for unfair business practices centered on rental...

Apple Dominated the Chinese Smartphone Market in 2023

Jan 25, 2024 06:19 am UTC| Business Technology

A shift of power on the global stage has also impacted China, the largest smartphone market worldwide. For the first time, Apple has emerged as the leading smartphone company in China, securing an impressive market share...

Lotte Secures Exclusive Franchise and Distribution Rights for Bacha Coffee in South Korea

Jan 25, 2024 05:53 am UTC| Business

Lotte Department Store is set to open Bacha Coffees first brick-and-mortar store in South Korea this year. This comes after the company secured a local franchise and exclusive distribution rights for the luxury coffee...

Skydance Media Places Bid to Buy Paramount Global

Jan 25, 2024 05:47 am UTC| Business

Skydance Media LLC is exploring the acquisition of Paramount Global and has now placed its bid for the takeover. The company founded by David Ellison and its financial supporters have submitted an offer, and people...

Kia Corp. Reports 21% Decline in Q4 Net Profit on Rising Costs and Stronger Won

Jan 25, 2024 03:57 am UTC| Business

Kia Corp., South Koreas second-largest carmaker by sales, announced a 21% drop in net profit for the fourth quarter compared to the previous year. The decline was attributed to higher costs and the strengthening...

Australia's Domino's Pizza Enterprises Faces Record Drop in Shares, Withdraws Outlook

Jan 25, 2024 03:50 am UTC| Business

Shares in Australias Dominos Pizza Enterprises experienced a significant decline on Thursday, following the companys decision to withdraw its fiscal 2024 outlook. The retail food outlet operator also fell short of...

Boeing 737 Max 9 Can Resume Flights But FAA Blocks Production Expansion

Jan 25, 2024 02:56 am UTC| Business

Boeing 737 Max 9 planes may return to service as the Federal Aviation Administration (FAA) cleared the planes after inspections. However, before the grounded aircraft can fully resume flights, airlines must adhere to the...

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Economy

Australia Extends Fuel Sulphur Relaxation Amid Iran War Supply Disruptions

Australia has extended its temporary easing of fuel-quality standards through September, as ongoing disruptions from the Iran war continue to strain the countrys fuel supply chains. Energy Minister Chris Bowen confirmed...

Stocks Surge as Strait of Hormuz Reopens, Oil Prices Plunge

U.S. stock markets closed sharply higher on Friday as easing Middle East tensions and the temporary reopening of the Strait of Hormuz sent investor confidence soaring. The SP 500 gained 1.2% to finish at 7,125.36, the...

Oil Prices Plunge as Strait of Hormuz Reopens Amid U.S.-Iran Ceasefire Talks

Global oil prices fell sharply on Friday after Iran and the United States jointly announced the temporary reopening of the Strait of Hormuz, easing fears over a major disruption to the worlds oil supply. Brent crude...

Dollar Retreats as Strait of Hormuz Reopens, Easing Safe-Haven Demand

The U.S. dollar surrendered most of its war-driven gains on Friday after Iran announced the Strait of Hormuz was completely open, reducing the safe-haven appeal that had propped up the currency since the U.S.-Iran conflict...

IMF Warns Middle East War to Deepen Economic Divide Across Latin America and Caribbean

The ongoing Middle East conflict is expected to widen economic inequality across Latin America and the Caribbean, according to the International Monetary Fund. While oil-exporting nations stand to gain short-term...

Politics

Trump's Iran Claims Spark Market Confusion Over Strait of Hormuz

Global financial markets and world leaders are navigating a wave of cautious optimism mixed with uncertainty after President Donald Trump announced a breakthrough in U.S.-Iran negotiations, including what he described as...

Anthropic CEO Meets Trump Officials to Discuss Powerful New AI Model Mythos

Anthropic CEO Dario Amodei sat down with senior Trump administration officials last Friday in what analysts are calling a pivotal move to repair a strained relationship between the AI company and the federal government....

Trump and IRS in Settlement Talks Over $10 Billion Tax Return Leak Lawsuit

Donald Trumps legal team and the Internal Revenue Service are reportedly engaged in settlement negotiations over a $10 billion federal lawsuit stemming from the unauthorized disclosure of the presidents private tax...

UNICEF Condemns Killing of Aid Workers Delivering Water in Gaza

The United Nations childrens agency UNICEF has expressed outrage following the fatal shooting of two contracted truck drivers who were delivering clean water to families in the Gaza Strip. The deadly incident occurred on...

Iran Reopens Strait of Hormuz Amid Fragile Ceasefire and Ongoing Nuclear Tensions

Iran has temporarily reopened the Strait of Hormuz to commercial shipping following a U.S.-brokered ceasefire between Israel and Lebanon, sparking cautious optimism in global markets. However, Tehran issued a stark warning...

Science

China vs. NASA: The New Moon Race and What's at Stake by 2030

The space race is back and this time, its a direct competition between the United States and China for dominance on the lunar surface. NASAs Artemis II mission recently made history when four astronauts flew farther into...

NASA Artemis II: First Crewed Moon Mission Since Apollo Takes Four Astronauts on 10-Day Lunar Journey

NASAs Artemis II mission launched Wednesday, marking humanitys return to crewed lunar exploration for the first time since the Apollo era. Carrying four astronauts aboard the Orion spacecraft, this historic 10-day mission...

NASA's Artemis II Mission: First Crewed Lunar Journey Since Apollo

NASA's Artemis II Crew Arrives in Florida for Historic Moon Mission

The four astronauts chosen for NASAs Artemis II mission have touched down at Kennedy Space Center in Florida, marking the beginning of final launch preparations for the first crewed lunar journey in over 50 years. NASA...

SpaceX Pivots Toward Moon City as Musk Reframes Long-Term Space Vision

SpaceX CEO Elon Musk has revealed a significant shift in the companys near-term space exploration strategy, announcing that SpaceX is now prioritizing the development of a self-growing city on the Moon rather than focusing...

Technology

Apple Wins ITC Ruling, Keeping Blood-Oxygen Feature on Apple Watch

A U.S. trade tribunal sided with Apple on Friday, rejecting Masimo Corporations push to reinstate an import ban on Apple Watch. The U.S. International Trade Commission chose not to review an earlier judges ruling that...

OpenAI's $20 Billion Cerebras Deal Signals Massive AI Infrastructure Push

OpenAI is reportedly set to spend over $20 billion with AI chip startup Cerebras over the next three years, marking a significant expansion of an already substantial computing partnership. According to The Information, the...

Tesla's Terafab: AI Chip Factory Eyes Taiwan's Semiconductor Talent

Tesla is actively recruiting semiconductor engineers in Taiwan for its ambitious Terafab project a fully vertically integrated AI chip manufacturing facility that aims to consolidate logic, memory, packaging, testing, and...

Japan to Subsidize Sony's Image Sensor Plant in Kumamoto with $380 Million

The Japanese government has announced plans to provide Sony with subsidies of up to 60 billion yen, equivalent to approximately $380 million, to support the construction of an image sensor manufacturing facility in...

NiSource Signs Long-Term Energy Deals with Alphabet and Amazon to Power Indiana Data Centers

NiSource, a U.S. utility company, has secured a long-term energy supply agreement with an Alphabet subsidiary to power a major data center in northern Indiana. The announcement also included an expanded partnership with...