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IKEA Korea's sales drop 9% to suffer first decline since entering S. Korean market

Dec 18, 2022 09:26 am UTC| Economy Business Life

IKEA Koreas sales plunged 9 percent to US$475 million for its fiscal year 2022, suffering its first sales after eight years of continuous growth in its South Korean operations.. The South Korean arm of the Swedish...

Digital Currency Revolution

White Castle gives $25,00 in NFT sales proceeds to employee fund

Dec 18, 2022 09:11 am UTC| Economy Business Life Digital Currency

White Castle is turning $25,000 from the sale of NFTs into employee aid through its Team Member Relief Fund. The 350-unit fast-food chain has been selling 5,001 unique digital images for a year for its 100th...

Indonesia’s GoTo to sell stake in retailer Alfamart to focus on profitability

Dec 17, 2022 14:36 pm UTC| Business Economy Life

Indonesias PT GoTo Gojek Tokopedia has sold its stake in local retailer Alfamart worth US$96.03 million to focus on profitability. GoTo shares are trading at record-low levels. After pre-IPO owners elected to...

High-speed internet infrastructure makes S. Korea a promising cloud gaming hub: Google official

Dec 15, 2022 23:45 pm UTC| Life Technology Economy Business

South Koreas high-speed internet infrastructure like the fifth-generation (5G) network service gives it great potential for success in the cloud gaming industry, according to senior Google official, Sami Kizilbash. The...

Itochu acquires master license rights for LLBean in Japan

Dec 14, 2022 23:28 pm UTC| Business Economy Life

Itochu Corp has acquired the master license rights for the US fashion label LLBean in Japan and the whole sales rights for the brands imported products. The agreement requires Itochu to appoint Minoya Co for product...

Hindustan Unilever enters health and well-being industry

Dec 14, 2022 23:27 pm UTC| Life Economy Business

Hindustan Unilever (HUL) will invest in Zywie Ventures (OZiva) and Nutritionalab (Wellbeing Nutrition) to enter the health and well-being business category. Unilevers Indian subsidiary will initially acquire a 51...

Fonterra and Nestlé to sell joint venture in Brazil for $133 million

Dec 14, 2022 23:27 pm UTC| Life Economy Business

Fonterra and Nestlé will sell their Dairy Partners Americas (DPA) Brazil joint venture to French dairy company Lactalis for $133 million, subject to closing transaction adjustments. The deal is expected to be...

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Economy

Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals

Gold prices reversed early gains and moved lower during Asian trading on Thursday, pressured by a strengthening U.S. dollar and reduced demand for safe-haven assets. Investor focus has shifted toward upcoming central bank...

Thailand Inflation Remains Negative for 10th Straight Month in January

Thailands annual headline inflation rate stayed in negative territory for the tenth consecutive month in January, underscoring continued price pressures driven largely by lower energy costs and government measures aimed at...

Silver Prices Plunge in Asian Trade as Dollar Strength Triggers Fresh Precious Metals Sell-Off

Silver prices tumbled sharply during Asian trading on Thursday, leading a broad sell-off across the precious metals market and erasing most of the short-lived rebound seen earlier this week. The steep decline highlighted...

South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks

South Koreas efforts to stabilise its currency are facing a growing domestic challenge as retail investors continue to pour record amounts of money into U.S. stocks, driving strong demand for dollars while the won trades...

Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady

Federal Reserve Governor Lisa Cook emphasized the importance of protecting the central banks credibility by ensuring inflation returns to its long-term target, signaling continued caution on monetary policy despite recent...

Politics

Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports

The U.S. government is prepared to allow Chinas ByteDance to purchase Nvidias advanced H200 AI chips, but negotiations remain stalled as Nvidia has not agreed to the proposed conditions governing their use. According to...

Trump Endorses Clay Fuller in Georgia Special Election to Replace Marjorie Taylor Greene

President Donald Trump has thrown his weight behind conservative prosecutor Clay Fuller in the upcoming Georgia special election to replace Marjorie Taylor Greene, signaling a major shift in the political dynamics of...

CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences

Hong Kong-based conglomerate CK Hutchison has initiated international arbitration proceedings against the Panamanian government after Panamas Supreme Court annulled licences held by its subsidiary, Panama Ports Company, to...

Trump Stays Neutral on 2028 GOP Successor as Vance and Rubio Emerge as Top Contenders

President Donald Trump has declined to take sides in early speculation over who could succeed him as the Republican presidential nominee in the 2028 election, as Vice President JD Vance and Secretary of State Marco Rubio...

U.S. Justice Department Removes DHS Lawyer After Blunt Remarks in Minnesota Immigration Court

The U.S. Justice Department has removed a government lawyer from a high-pressure assignment in Minnesota following blunt comments made in federal court about her workload and the governments failure to comply with judicial...

Science

NASA and SpaceX Target Crew-11 Undocking From ISS Amid Medical Concern

NASA has confirmed that the agency, in coordination with SpaceX, is targeting no earlier than 5 p.m. Eastern Time (2200 GMT) on Wednesday, January 14, for the undocking of the SpaceX Crew-11 mission from the International...

Neuralink Plans High-Volume Brain Implant Production and Fully Automated Surgery by 2026

Elon Musks brain-computer interface company Neuralink is preparing for a major expansion, announcing plans to begin high-volume production of its brain implant devices and transition to a fully automated surgical procedure...

Jared Isaacman Confirmed as NASA Administrator, Becomes 15th Leader of U.S. Space Agency

The U.S. Senate has officially confirmed billionaire private astronaut Jared Isaacman as the new NASA administrator, making him the 15th leader in the agencys history. The confirmation, which took place on Wednesday, marks...

Senate Sets December 8 Vote on Trump’s NASA Nominee Jared Isaacman

The U.S. Senate Commerce Committee announced it will vote on December 8 on President Donald Trumps renewed nomination of private astronaut and tech entrepreneur Jared Isaacman to lead NASA. Isaacman, known for his...

NASA Cuts Boeing Starliner Missions as SpaceX Pulls Ahead

NASA has significantly scaled back Boeings Starliner program after years of technical issues and delays, announcing that the next Starliner mission to the International Space Station (ISS) will fly without astronauts. The...

Technology

Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch

Major PC manufacturers including HP, Dell, Acer, and Asus are reportedly exploring the option of sourcing memory chips from Chinese semiconductor companies for the first time, as a prolonged global supply crunch continues...

OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering

OpenAI is significantly accelerating its enterprise AI strategy by hiring hundreds of new employees for its technical consulting division, according to a report by The Information, citing a person familiar with the...

SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off

SoftBank Group Corp. (TYO:9984) shares tumbled sharply on Thursday, tracking a steep decline in Arm Holdings (NASDAQ:ARM) after the UK-based chip designer reported weaker-than-expected earnings for the December quarter....

Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised

Sony Corp (TYO:6758) reported stronger-than-expected third-quarter earnings, driven by solid performance in its gaming, music, and image sensor businesses. The Japanese conglomerate also raised its full-year forecast,...

SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO

Elon Musks SpaceX is reportedly exploring ways to secure early inclusion in major stock market indexes ahead of its highly anticipated initial public offering, a move aimed at boosting liquidity and stabilizing its share...