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Apple to face lawsuit for $74 billion investor losses after concealing plunging sales in China

Nov 07, 2020 19:01 pm UTC| Business

A class-action lawsuit by shareholders is awaiting Apple Inc. for Chief Executive Tim Cooks concealment of falling demand for iPhones in China, resulting in $74 billion in investor losses. US District Judge Yvonne...

Over half a million Australians demand probe into Rupert Murdoch's media empire

Nov 06, 2020 09:53 am UTC| Business

Over 500,000 Australians petitioned the parliament to conduct an inquiry into Rupert Murdochs News Corporation, which threatens media diversity and encourages deliberate polarizing and politically manipulating news. The...

US govt blocking Visa's anti-competitive acquisition of Plaid

Nov 06, 2020 09:42 am UTC| Business

The US government sued to block Visa Inc.s $5.3 billion acquisition of financial technology company Plaid for being anti-competitive. Plaid is a financial technology firm with access to financial data from over 11,000...

BMW Q3 profit up 9.6% on Chinese demand for luxury cars

Nov 06, 2020 09:29 am UTC| Business

BMWs third-quarter pretax profit rose 9.6 percent to $2.87 billion, mainly due to rebounding Chinese demand for luxury cars. The German automaker enjoyed a 9.8 percent increase in deliveries of its vehicles during the...

Kakao's Q3 net almost triples to 143.7 billion won

Nov 06, 2020 02:26 am UTC| Business

Kakao Corp.s third-quarter net profit reached 143.7 billion won, rising nearly three times from its 51.1 billion won a year earlier and surpassing a FactSet forecast of 88.99 billion won. The company attributed its...

SsangYong hopes new Rexton SUV would boost sales in S. Korea

Nov 05, 2020 23:00 pm UTC| Business

SsangYong Motor Co. launched the all-new Rexton SUV in South Korea, priced at 37 million won to 50 million won, to boost sales amid the pandemic. The new 2.0-liter diesel engine-equipped SUV with an eight-speed...

Nongshim expects record overseas sales of instant noodles this year

Nov 05, 2020 22:34 pm UTC| Business

Nongshim Co. expects to post record instant noodles overseas sales of US$990 million this year, up 24 percent from last year, due to strong pandemic-triggered demand. According to South Koreas top instant noodle maker,...

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Economy

Asian Stocks Tumble as Tech Selloff Deepens Ahead of Fed Decision, Big Tech Earnings

Asian stock markets posted steep losses on Wednesday as a sharp technology sector selloff continued for a second day, with South Korea leading regional declines ahead of the U.S. Federal Reserves policy announcement and...

Gold Price Holds Near $4,025 Ahead of Fed Decision as Middle East Tensions Lift Oil

Gold prices traded little changed during Asian trading on Wednesday as investors stayed cautious ahead of the U.S. Federal Reserves closely watched interest rate decision, while renewed geopolitical tensions in the Middle...

Hong Kong Home Prices Extend Winning Streak With 13th Straight Monthly Gain in June

Hong Kong home prices continued their upward momentum in June, marking the 13th consecutive month of gains, although the pace of growth slowed as the property market faced fresh economic headwinds. According to data...

Oman Proposes Strait of Hormuz Plan as U.S., Iran Remain Divided Over Shipping Fees

Oman has presented Iran with a Gulf-backed proposal aimed at restoring stability in the Strait of Hormuz, including a system of voluntary contributions from ships using the strategic waterway, according to Reuters citing a...

Chile Central Bank Holds Interest Rate at 4.5% as Inflation and Global Risks Persist

Chiles central bank left its benchmark interest rate unchanged at 4.5% on Tuesday, in line with market expectations, as policymakers weighed persistent inflation against slowing domestic economic activity and ongoing...

Politics

California ICE Detention Center Found to Have Inadequate Medical Care, Court Monitor Says

A court-appointed monitor has concluded that Californias largest immigration detention center failed to provide adequate medical care to detainees, finding the facility out of compliance with a previous federal court order...

US Intercepts Iranian Ballistic Missiles as Middle East Tensions Escalate

The U.S. military said it successfully intercepted multiple ballistic missiles launched by Iran toward American forces in the Middle East on Tuesday, describing the attack as an attempted surprise strike amid heightened...

Trump, Zelenskiy Discuss Patriot Missile Production and Ukraine Peace Talks

U.S. President Donald Trump and Ukrainian President Volodymyr Zelenskiy met in Washington on Tuesday to discuss reviving peace negotiations with Russia, expanding Ukraines air defense capabilities, and strengthening...

U.S., Saudi Forces Launch Precision Strikes on Iran-Backed Militants in Iraq

The U.S. military announced Tuesday that American and Saudi Arabian armed forces carried out coordinated precision strikes in Iraq targeting Iran-backed militant groups accused of threatening regional security. According...

Zelenskiy Urges Trump for More Anti-Ballistic Missile Systems to Strengthen Ukraine Defense

Ukrainian President Volodymyr Zelenskiy said on Tuesday that he used his visit to Washington to press U.S. President Donald Trump and key U.S. senators for additional anti-ballistic missile systems and interceptors,...

Science

Blue Origin New Glenn Explosion Could Delay Launch Operations Until 2028

Blue Origin is facing a significant setback after a dramatic explosion involving its New Glenn rocket severely damaged a launch pad at Cape Canaveral, Florida. According to NASA Administrator Jared Isaacman, repairs to the...

Blue Origin New Glenn Rocket Explodes During Launch Pad Test, Delaying Space Ambitions

Blue Origin suffered a major setback after its uncrewed New Glenn rocket exploded during a launch pad test in Florida on Thursday, raising new challenges for Jeff Bezos space company as it competes with Elon Musks SpaceX...

SpaceX Delays Starship V3 Launch Ahead of Potential Record IPO

SpaceX on Thursday postponed the highly anticipated launch of its 12th Starship rocket test from Texas after technical issues interrupted the final countdown. The company now plans to attempt the Starship V3 launch again...

Trump Administration Releases New UFO Files and Apollo Mission Records

The U.S. Defense Department has released dozens of previously classified UFO-related files following an order from President Donald Trump, sparking renewed debate over unidentified anomalous phenomena (UAP) and government...

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...

Technology

X Challenges Australia’s Expanded Social Media Ban Enforcement Powers

Elon Musks social media platform X has criticized Australias proposal to expand the powers of its online safety regulator, arguing the changes could conflict with U.S. law, threaten international legal principles, and...

Meta CEO Zuckerberg Opposes U.S. Ban on Chinese AI Models, Warns Against Overregulation

Meta CEO Mark Zuckerberg has urged the U.S. government not to prohibit advanced Chinese artificial intelligence models, arguing that such restrictions would not help the United States maintain its competitive edge in the...

Trump Administration to Ban Chinese Robots, Power Inverters Over AI Security Concerns

The Trump administration is set to introduce new restrictions on Chinese technology imports, targeting advanced robots and power inverters as part of a broader effort to strengthen U.S. national security and protect the...

TSMC Gradually Restarts Japan Chip Plant After Kumamoto Earthquake

Taiwan Semiconductor Manufacturing Co. (TSMC), the worlds largest contract chipmaker, has started gradually restoring operations at its Japan semiconductor facility after a powerful earthquake in Kumamoto Prefecture forced...

SK Hynix Q2 Profit Hits Record as AI Memory Chip Demand Fuels Growth

SK Hynix reported record second-quarter earnings as surging demand for artificial intelligence memory chips and stronger memory pricing drove exceptional growth, reinforcing its position as one of the biggest beneficiaries...