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Senate Exposes Pharma: Billions on Execs Over Research, Challenging Drug Price Defenses

Feb 11, 2024 10:24 am UTC| Technology

When big pharmaceutical companies are confronted with their exorbitant prescription drug pricing in the United States, they frequently resort to two well-worn arguments: one, that the high drug prices cover the costs of...

Sam Altman and Elon Musk's Billion-Dollar Bets Mark 'Absurdist Capitalism', Says Tech Insider

Feb 11, 2024 07:20 am UTC| Technology

Many tech industry observers were perplexed by a story this week that OpenAI CEO Sam Altman is looking to raise up to $7 trillion in funding. The amount far exceeds the market capitalization of any corporation, including...

PlayStation 6 Rumors: Sony and AMD to Power Up PS6 with 4K and 8K Gaming

Feb 11, 2024 06:57 am UTC| Technology

Fans are well into the third year of the PlayStation 5, and its successor, apparently named the PlayStation 6, will most likely not be released for another few years. However, the PlayStation 6 rumor mill continues to...

Russian Forces Utilize Starlink in Ukraine, Procured via Third Countries

Feb 11, 2024 05:54 am UTC| Technology

The Russian military is increasingly using Starlink terminals at its positions in Ukraine, which it purchases from third countries, according to Ukrainian military news outlet Militarnyi. Russian Military Increasingly...

Huawei Eyes VR Market with New Vision Headset, Set to Rival Apple

Feb 10, 2024 15:39 pm UTC| Technology

A new report claims Huawei is aiming to offer a brand-new Vision headset, challenging Apple in the Virtual Reality race. Eventually, the Chinese IT behemoth will explore every category while concentrating on the smartphone...

Hyundai Accelerates US EV Plant Launch for $7,500 Tax Credit Eligibility

Feb 10, 2024 15:09 pm UTC| Technology

The first Hyundai plant dedicated to EVs and batteries in the United States will open in October. According to Hyundai Motor America CEO Jose Munoz, the brand is pulling ahead to qualify for the $7,500 EV tax...

Pentagon, SpaceX Counter Claims of Starlink Use in Russia

Feb 10, 2024 09:09 am UTC| Technology

The US Department of Defense and Elon Musks SpaceX have responded to recent reports that Starlink internet terminals were being supplied to and deployed in Russia via a Middle Eastern intermediary. Pentagon and SpaceX...

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Economy

German Retail Sales Drop 3.4% in July

German retail sales fell sharply in July, significantly missing market expectations and raising fresh concerns about consumer demand in Europes largest economy. Retail sales declined 3.4% in July compared with the previous...

Global Markets Brace for Fed Rate Hike as Oil Tops $91

The Japanese yen stabilized near the critical 160-per-dollar level on Tuesday as currency markets remained cautious amid rising U.S. interest-rate expectations, renewed U.S.-Iran tensions and surging oil prices. USD/JPY...

Bessent Urges Japan on Fiscal Discipline, BOJ Rate Hikes

U.S. Treasury Secretary Scott Bessent has urged Japanese policymakers to outline a credible path toward fiscal sustainability and higher interest rates as pressure on the yen and government bond markets intensifies,...

Japan Bond Yields Top 3% as Inflation, Fiscal Risks Rise

Japans benchmark government bond yields climbed above 3% on Tuesday for the first time since September 1996, as investors weighed persistent inflation, growing fiscal concerns and expectations for further interest rate...

India Manufacturing Growth Slows to Five-Year Low in August

Indias manufacturing sector expanded at its weakest pace in five years in August as softer demand weighed on new orders, production and employment, according to the latest private-sector survey. The HSBC India...

Politics

US Approves $800 Million Helicopter Sale to Iraq

The U.S. State Department has approved a potential $800 million military helicopter sale to Iraq, strengthening defense cooperation between Washington and Baghdad as Iraq continues efforts to modernize its armed forces....

China Warns Over Taiwan’s Pacific Islands Forum Presence

China has raised strong objections to Taiwans participation in the Pacific Islands Forum in Palau, warning of unspecified consequences as tensions over Beijings influence in the Pacific take center stage at the regional...

U.S., New Zealand Fund $60M Cook Islands Port Upgrade

The United States and New Zealand will jointly fund a major upgrade of a World War Two-era port in the Cook Islands, strengthening Western infrastructure investment in the Pacific as China expands its regional influence....

South Korea Unveils Record $597 Billion 2027 Budget to Boost AI and Chips

South Korea has proposed a record 821 trillion won ($596.92 billion) government budget for 2027, sharply increasing fiscal spending as the country seeks to strengthen its position in artificial intelligence, semiconductors...

Ukraine Sanctions Chief Heads to Washington to Push Russia Bill

Ukraines top sanctions official will visit Washington this week to press U.S. lawmakers to approve sweeping new Russia sanctions legislation that has already cleared the Senate but faces resistance in the House of...

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

OpenAI Rejects Apple Trade Secret Theft Claims

OpenAI has denied Apples allegations that it obtained confidential trade secrets through former Apple employees, arguing that the iPhone maker has failed to provide evidence showing proprietary information was stolen. In a...

MediaTek Shares Jump 10% on Nvidia’s $3.5 Billion Investment

MediaTek shares surged nearly 10% on Tuesday after Nvidia announced a $3.5 billion investment in the Taiwanese semiconductor designer, strengthening a strategic partnership focused on artificial intelligence...

Apple’s Phil Schiller Steps Back as Leadership Shake-Up Accelerates

Apple veteran Phil Schiller has stepped away from overseeing the App Store and the companys high-profile product launch events, marking another major leadership change as the iPhone maker prepares for a new era under...

SpaceX Mobile Network Could Cost Up to $130 Billion, Bernstein Says

SpaceX (NASDAQ: SPCX) could spend between $50 billion and $130 billion, including spectrum costs, to develop a standalone terrestrial network supporting its direct-to-device mobile service, according to Bernstein analysts....

Faraday Future Delivers First Robots in Middle East, Plans September Launches

Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) has completed its first robotics sale and delivery in the Middle East, marking an early milestone in the electric vehicle and AI technology companys regional...