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Rockport Group Files for Second Bankruptcy in 5 Years, Eyes Potential Sale Amid Restructuring Efforts

Jun 19, 2023 09:17 am UTC| Business Economy

The Rockport Group, an established American footwear brand, has filed for Chapter 11 bankruptcy protection in Delaware for the second time in half a decade. Despite posting $203 million in revenue in 2022, the company is...

POSCO to Revolutionize Safety Management in Steelworks With Advanced Robotics

Jun 19, 2023 08:29 am UTC| Economy Business

South Koreas steel giant POSCO is partnering with Withrobot Co. and Aidin Robotics to develop high-tech robots for safety management. The initiative focuses on creating intelligent mobile robot solutions, enhancing...

Harley-Davidson Targets Japanese Market With Electric Bikes, Eyeing 2024 Launch Under LiveWire Brand

Jun 19, 2023 07:43 am UTC| Economy Business Nature Life

Harley-Davidson, an iconic American motorcycle maker, plans to launch its electric motorcycle line in Japan by 2024 under its independent electric division, LiveWire Group Inc., according to CEO Jochen Zeitz. The move...

Hyundai Elevator Lands Largest-Ever Contract With $33.9M Deal for Seoul Apartment Rebuild

Jun 19, 2023 07:31 am UTC| Business Economy

Hyundai Elevator Co. Ltd., in its largest-ever contract since its inception in 1984, had secured a $33.9 million deal to supply 256 elevators and 58 escalators for a significant Seoul apartment reconstruction, marking a...

7-Eleven Ramps up Robotic Delivery Testing in Urban Seoul, in Line With Post-COVID Trends

Jun 19, 2023 07:20 am UTC| Technology Economy Business

Korea Seven Co. has announced a third testing round for its robotic delivery services, a partnership with Neubility, enhancing urban delivery with robots capable of navigating adverse conditions, set to roll out in parts...

GM Asian Unit Faces $208K FTC Fine for Unfair Marketing Practices, Hector Villarreal Appointed New CEO

Jun 19, 2023 06:33 am UTC| Law Economy Business

General Motors Asian distributor has been fined $208,000 by South Koreas Fair Trade Commission (FTC) for unjustly forcing local dealers to share marketing costs, marking the FTCs first action against an imported car...

Disney CFO Christine McCarthy Steps Down Amid Tumultuous Company Restructuring

Jun 19, 2023 06:20 am UTC| Business Economy

Longtime Walt Disney CFO Christine McCarthy announced her abrupt resignation, leaving amid rumors of discord with top brass during a critical period of company restructuring and a management shake-up. McCarthys exit may...

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Economy

Oil Prices Jump Nearly 3% as Iran Holds Firm on Hormuz Conditions

Oil prices surged on Monday as tensions between the United States and Iran fueled concerns over prolonged disruption to the Strait of Hormuz, a critical route for global energy supplies. Brent crude futures for November...

Nvidia China Chip Sales Report Sends Chinese Semiconductor Stocks Lower

Chinese semiconductor stocks fell sharply on Monday after a report suggested Beijing could allow some domestic technology companies to purchase advanced Nvidia chips, potentially increasing competition for Chinas homegrown...

UK Housebuilder Stocks Surge on New First-Time Buyer Loan Scheme

British housebuilder stocks rallied on Monday after the UK government announced plans for a state-backed equity loan program designed to help first-time buyers purchase new-build homes with deposits as low as 2.5%. The...

Japan Warns Markets Over Yen Weakness

Japans top currency diplomat Atsushi Mimura warned markets on Monday to take Tokyo and Washingtons recent message on the yen seriously, signaling that Japanese authorities remain prepared to respond to excessive currency...

U.S. Stock Futures Fall as Iran, Oil and AI Risks Rattle Markets

U.S. stock futures declined Monday as investors weighed renewed U.S.-Iran tensions, surging oil prices and growing concerns over artificial intelligence development. By 03:50 ET, SP 500 futures were down 0.42% at 7,710.7,...

Politics

California Bans Memecoins Issued by Public Officials Under New Law

California Governor Gavin Newsom has signed legislation barring public officials in the state from issuing memecoins, adding new restrictions aimed at preventing officials from financially benefiting from their public...

China Cuts Tariffs on U.S. Farm Goods but Excludes Soybeans

China is preparing to reduce tariffs on a wide range of U.S. agricultural products, including corn, wheat, meat and dairy, as Beijing and Washington move to ease trade tensions following last weeks summit between Chinese...

Bitcoin Slides Below $84K as Trump Signals Possible New Iran Strikes

Bitcoin and U.S. technology stocks started the new week under pressure as renewed uncertainty over the U.S.-Iran conflict weighed on risk appetite and pushed oil prices higher. Bitcoin (BTC) fell 1.3% to around $83,324 at...

Russian Bomb Strike on Kharkiv Injures 22, Including Children

A Russian guided aerial bomb struck an apartment building in Kharkiv, Ukraines second-largest city, injuring 22 people, including children, local authorities said early Monday. Kharkiv Mayor Ihor Terekhov reported the...

China, US Extend Trade Truce Through January 10 After Trump-Xi Summit

China confirmed Monday that its trade truce with the United States will be extended by two months through January 10, giving the worlds two largest economies additional time to assess existing agreements and pursue further...

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

Vitalik Buterin Says Hegota Could Be Ethereum’s Last Conventional Fork

Ethereum co-founder Vitalik Buterin expects the Hegota upgrade planned for 2027 to become the networks final conventional hard fork before Ethereum shifts toward advanced cryptography, quantum-resistant technology and...

OpenAI Investigates Rogue AI Agents After Data Leaks and Security Incidents

OpenAI is continuing a broad investigation into unauthorized and unexpected activity by its AI agents, two months after disclosing that agents had broken containment and accessed Hugging Face systems. The ChatGPT developer...

TSMC Accelerates 2nm Expansion as AI Chip Demand Surges

Taiwan Semiconductor Manufacturing Co. (TSMC) is accelerating the expansion of its advanced 2-nanometre chip production capacity as rising demand from artificial intelligence and high-performance computing customers drives...

Morgan Stanley Raises TD Synnex Price Target to $359 on Strong AI Demand

Morgan Stanley raised its price target on TD Synnex Corp (NYSE: SNX) after the technology distributor delivered stronger-than-expected fiscal third-quarter results and an upbeat outlook, supported by accelerating...

OpenAI, Anthropic CEOs Summoned to Australia AI Inquiry

OpenAI CEO Sam Altman and Anthropic CEO Dario Amodei have been asked to appear before an Australian Senate inquiry into artificial intelligence following revelations that an OpenAI agent accessed the countrys Medicare...