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Intel to Cut Over 20% of Workforce in Cost-Saving Restructuring Under New CEO

Apr 23, 2025 04:43 am UTC| Business

Intel Corp. (NASDAQ: INTC) is preparing to lay off more than 20% of its workforce this week, Bloomberg News reported, citing sources familiar with the matter. The move is part of a broader effort by new CEO Lip-Bu Tan to...

Elon Musk Clarifies Role at DOGE as Tesla Faces Investor Concerns

Apr 23, 2025 04:00 am UTC| Politics Business

Tesla Inc (NASDAQ:TSLA) CEO Elon Musk clarified Tuesday that he is not stepping down from the Department of Government Efficiency (DOGE), but is merely reducing his time commitment. Responding to a post on X, Musk stated,...

Tesla’s Optimus Robot Faces Delays Amid China’s Rare Earth Export Curbs

Apr 23, 2025 01:27 am UTC| Business Technology

Tesla CEO Elon Musk revealed that production of the companys Optimus humanoid robot has been delayed due to Chinas new export restrictions on rare earth magnetscritical components in robotics and electric vehicles....

Brazil Emerges as New Cocoa Powerhouse Amid Global Shortage

Apr 23, 2025 01:26 am UTC| Business

In Bahia, Brazil, farmer Moises Schmidt is building what could become the worlds largest cocoa farm, aiming to transform the global chocolate industry. Backed by a $300 million investment, Schmidt plans to cultivate...

Hyundai Steel Faces Investor Backlash Over $6B U.S. Expansion Amid Tariff Uncertainty

Apr 23, 2025 01:26 am UTC| Business

Hyundai Steel is under pressure after announcing a $6 billion U.S. investment, part of Hyundai Motor Groups broader $21 billion pledge made at the White House in March. The move, seen as politically motivated amid evolving...

Tesla Stock Rises Despite Q1 Miss; Musk Promises Renewed Focus on Company

Apr 23, 2025 01:26 am UTC| Business

Tesla (NASDAQ: TSLA) reported weaker-than-expected Q1 earnings, missing both revenue and profit forecasts as vehicle deliveries slumped amid intensifying competition and public backlash tied to CEO Elon Musks political...

Mercedes-Benz Launches Vision V Electric Limousine Line in China

Apr 22, 2025 09:19 am UTC| Business

Mercedes-Benz (OTC:MBGAF) has introduced its latest innovation in the luxury vehicle market with the debut of its all-electric limousine lineup, the Vision V series. Unveiled during a high-profile event in Shanghai, the...

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Economy

Goldman Sachs, ANZ Cut Oil Forecasts Amid U.S.-Iran Ceasefire Hopes

Brent crude oil prices have tumbled more than 11% this week after the United States and Iran agreed to a two-week ceasefire, raising hopes that the Strait of Hormuz one of the worlds most critical oil shipping lanes ...

Bank of Japan Governor Signals Accommodative Stance Amid Negative Real Rates

Bank of Japan Governor Kazuo Ueda reaffirmed on Thursday that Japans real interest rates remain firmly in negative territory, signaling that the countrys financial conditions continue to support economic growth. His...

Japan Consumer Confidence Drops Sharply Amid Rising Fuel Costs and Middle East Tensions

Japans consumer confidence took a significant hit in March, declining for the first time in three months as escalating fuel costs linked to the ongoing Middle East conflict continued to weigh heavily on the countrys...

China Set to Exit Deflation Cycle in Early 2026, ANZ Analysts Say

China may be closer to ending its prolonged deflationary period than financial markets currently anticipate, according to a recent note from ANZ analysts. The bank projects that three key price indicators the producer...

Asian Currencies Hold Steady as Middle East Ceasefire Doubts Weigh on Markets

Asian currencies showed little movement on Thursday following strong gains in the prior session, as investor caution mounted over the stability of a U.S.-Iran ceasefire deal amid escalating Middle East tensions. The U.S....

Politics

Trump Warns Iran: No Deal Means Military Action as U.S. Forces Hold Position

President Donald Trump escalated tensions with Iran on Wednesday, declaring that all U.S. military assets including ships, aircraft, and personnel would remain stationed in the region until a formal agreement with Tehran...

U.S. Pushes for Crypto Regulation to Keep Digital Asset Growth at Home

Treasury Secretary Scott Bessent is calling on Congress to pass landmark federal cryptocurrency legislation, warning that regulatory uncertainty is pushing blockchain innovation and investment out of the United States. In...

North Korea Tests Advanced Cluster Bombs, Electromagnetic Weapons in Latest Military Display

North Korea has conducted a series of weapons tests this week, showcasing cutting-edge military technology including cluster-bomb warheads, electromagnetic weapons, and carbon-fibre bombs, according to state media outlet...

Trump Pardon Clears Juan Orlando Hernández as U.S. Court Dismisses Drug Conviction Appeal

A U.S. federal appeals court has dismissed the case against former Honduran President Juan Orlando Hernández, vacating his prior conviction following a presidential pardon granted by Donald Trump in December. The...

Taiwan Defense Budget: U.S. Senator Urges Legislature to Pass Spending Plan

Republican Senator Jim Banks visited Taipei and delivered a direct message to Taiwans President Lai Ching-te: the islands parliament must stop stalling and approve a proposed special defense budget. Banks, a member of the...

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

Bank of America Identifies Top Asia-Pacific Semiconductor Stocks Poised for AI-Driven Growth

Bank of America has spotlighted a select group of Asia-Pacific semiconductor companies well-positioned to ride the wave of surging artificial intelligence chip demand, with Taiwan Semiconductor Manufacturing Company...

China's AI Stocks Surge as Zhipu and MiniMax Hit Record Highs

Chinese artificial intelligence stocks continued their remarkable rally on Thursday, with Zhipu AI and MiniMax Group posting strong gains in Hong Kong trading as a wave of new model launches and product announcements...

Bendigo and Adelaide Bank Posts Strong Q3 Earnings, Announces AI-Driven Job Cuts

Bendigo and Adelaide Bank delivered an impressive financial performance in its third quarter, reporting a 12.8% surge in cash earnings to A$137.9 million for the three months ending March 31. The result came in roughly 12%...

Alibaba Shares Slide as Jefferies Slashes Price Target Over AI Spending and Business Losses

Alibabas Hong Kong-listed shares (HK:9988) dropped 2.9% to HK$122.70 on Thursday, emerging as one of the heaviest drags on the Hang Seng Index, which closed 0.6% lower. The selloff came after investment bank Jefferies...

Anthropic Fights Pentagon Blacklisting in Dual Federal Court Battles

A federal appeals court in Washington, D.C., has refused to halt the Pentagons national security blacklisting of AI company Anthropic, delivering a temporary win for the Trump administration. The ruling comes as another...