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Formula One great Gordon Murray sets sights on developing electric vans, SUVs

May 11, 2021 22:56 pm UTC| Business Economy

The Gordon Murray Group plans a $420 million expansion over the next five years, mostly to be spent on efforts to developing electric SUVs and delivery vehicles towards an all-electric supercar by 2030. The company is...

S. Korean shipbuilders lose top spot to Chinese rivals in new orders in April

May 11, 2021 22:52 pm UTC| Economy Business

South Korean shipbuilders obtained new orders of 34 ships, or 1.19 million compensated gross tons (CGTs) in April, losing their No. 1 ranking to Chinese rivals, which had 53 ships, or 1.64 million CGTs. South Korean...

S. Korea's exports soar 81% on May 1-10 mainly due to chips, autos, petroleum products

May 11, 2021 22:50 pm UTC| Business Economy

South Koreas exports soared 81.2 percent on-year to $12.5 billion in the May 1-10 period from $6.9 billion a year earlier as global economic recovery kept robust the shipments of chips, autos, and petroleum goods. The...

Lee Jae Yong: S. Korea President Moon Jae In reportedly opens possibility for pardon grant to Samsung heir

May 11, 2021 10:22 am UTC| Business Economy

Lee Jae Yong, the imprisoned Samsung heir and company head, may be walking out of prison earlier than his actual time to serve. This is because South Koreas President Moon Jae In reportedly softened a bit, leaving the door...

Mattel launches recycle program for used Barbie dolls and toys

May 11, 2021 10:15 am UTC| Business Economy

Mattel announced a new program where kids can return their Barbie dolls and old toys once they are done with them. In other words, the American toymaker is also getting into the recycling trend for a better world. A...

Honda Accord: U.S. NHTSA investigating 1.1 million units over steering control issues

May 11, 2021 09:19 am UTC| Business Economy

Honda Accord car units are said to be under investigation for safety issues. The U.S. National Highway Traffic Safety Administration revealed on Monday, May 10, that it has formally launched a probe on around 1.1 million...

Celltrion to supply COVID-19 treatment to Pakistan in a new deal

May 11, 2021 08:22 am UTC| Business Economy

Celltrion, the South Korean pharmaceutical company, revealed that it had sealed its first deal for shipments of its Rekirona COVID-19 antibody treatment. The firm made the announcement on the supply transaction to Pakistan...

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Economy

Oil Prices Slip as OPEC+ Boosts August Output, Oversupply Concerns Weigh on Crude Market

Oil prices edged lower in early Asian trading on Monday after OPEC+ agreed to increase production targets for August, adding to expectations of stronger global crude supplies and easing concerns over disruptions in the...

US Stock Futures Rise as Investors Eye Fed Minutes, AI Stocks, and Q2 Earnings

U.S. stock index futures moved higher on Sunday evening as investors prepared for a key week featuring the release of the Federal Reserves June meeting minutes and the unofficial start of the second-quarter earnings...

Gold Price Rises as Softer Dollar and Fed Rate Expectations Boost Bullion Demand

Gold prices climbed during Asian trading on Monday as a weaker U.S. dollar and fading expectations of another Federal Reserve interest rate hike this year supported demand for the precious metal. The recovery extended...

Asian Markets Slip as AI Earnings Season Looms, Oil Prices Fall Ahead of Key Fed Signals

Asian stock markets traded lower on Monday as investors turned cautious ahead of a critical earnings season expected to highlight the strength of artificial intelligence (AI) demand. At the same time, falling oil prices...

Japan Defense Stocks Rally on Report of New Defense Ministry Bureau for Global Cooperation

Japanese defense-related stocks rallied sharply on Monday after a report by the Yomiuri newspaper said the government is preparing to establish a new bureau within the Ministry of Defense to strengthen international...

Politics

Australian PM Anthony Albanese Apologizes After Kylie Minogue Podcast Remarks Spark Backlash

Australian Prime Minister Anthony Albanese issued a public apology on Monday after making controversial remarks about pop icon Kylie Minogue during a comedy podcast interview, drawing criticism from opposition lawmakers...

Iran Begins Oil Sale Talks With Japan Under U.S. Sanctions Waiver Amid Shipping Risks

Iran has opened preliminary discussions with Japanese companies about resuming crude oil exports under a temporary U.S. sanctions waiver, although potential buyers are seeking a longer exemption and stronger assurances...

Trump to Meet Zelenskiy at NATO Summit in Turkey to Push Ukraine Peace Efforts

U.S. President Donald Trump is set to meet Ukrainian President Volodymyr Zelenskiy during this weeks NATO summit in Turkey as part of a renewed diplomatic effort to end the war in Ukraine, according to a senior U.S....

Israel Cabinet Rejects Supreme Court Ruling, Sparking Constitutional Crisis Fears

Israels cabinet has voted to reject a Supreme Court ruling involving the countrys broadcast regulator, triggering fresh concerns over a potential constitutional crisis and deepening tensions between Prime Minister Benjamin...

Israeli Airstrike Kills Two in Gaza City as Ceasefire Violations and Truce Talks Persist

At least two Palestinians were killed and several others were wounded in an Israeli airstrike in central Gaza City on Sunday, according to Palestinian health officials, as violence continued despite an October ceasefire...

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

Foxconn Q2 Revenue Surges Nearly 40% on Strong AI Server Demand

Foxconn, officially known as Hon Hai Precision Industry, reported a sharp rise in second-quarter revenue as booming demand for artificial intelligence infrastructure continued to drive growth across its cloud and...

Citi Raises TSMC Price Target as AI Chip Demand Strengthens Growth Outlook

Citi has raised its target price for Taiwan Semiconductor Manufacturing Co. (TSMC) to NT$3,800 from NT$2,875, while maintaining its Buy rating, citing stronger confidence in the chipmakers long-term growth as demand for...

AI Memory Chip Shortage Likely to Persist Despite Korea Investment Boom, Nomura Says

Concerns that a new wave of investment announcements by South Korean memory chipmakers could trigger another memory chip oversupply cycle may be exaggerated, according to Nomura analysts, who believe strong artificial...

Samsung Q2 Profit Seen Soaring as AI Memory Demand Keeps Chip Prices Elevated

Samsung Electronics is expected to report another record-breaking quarter as booming artificial intelligence (AI) demand continues to fuel higher memory chip prices and tighten global supply. Analysts estimate the South...

Meta Cloud Ambitions Could Challenge AWS, Azure, and Google Cloud, Says Morgan Stanley

Meta Platforms (NASDAQ: META) is preparing to expand into the cloud computing market, a move that could position the company as a future rival to Amazon Web Services (AWS), Microsoft Azure, and Google Cloud. According to...