Gloomy Alphabet and Microsoft results fueled fears of a global economic downturn, derailing an earnings-led surge in stock markets on Wednesday, while setting the tone for results from other megacap technology behemoths. The Nasdaq fell nearly 2 per cent as… Read More ›
Tightening markets for liquefied natural gas (LNG) around the world, combined with major oil producers cutting supply, have thrown the world into “the first truly global energy crisis,” according to the head of the International Energy Agency (IEA). Rising LNG… Read More ›
Corporate insurers regularly pay hackers a ransom in exchange of stolen customer data, according to a top Australian government cybersecurity provider, as the country’s largest health insurer revealed the scope of a recent breach on Tuesday. The claim from Macquarie Telecom… Read More ›
After years of anticipation, the cryptocurrency ethereum has finally implemented a significant network upgrade that fundamentally alters how the blockchain verifies transactions, mints new coins, and secures its network. This system, known as proof-of-stake, has reduced ethereum’s energy consumption by… Read More ›
Tesla has reduced starting prices for its Model 3 and Model Y cars in China by up to 9 per cent, reversing an industry-wide trend of increases amid signs of weakening demand in the world’s largest auto market. The price… Read More ›
The shortage of parts ranging from chips to windshields that has slowed plane production will last until at least 2023, according to aerospace executives, and manufacturers are spending more to address the issue. Manufacturers are ordering material up to two… Read More ›
Tesla is facing supply shortages, logistics bottlenecks, and rising costs as it rapidly ramps up production of its electric vehicles. While the issues have improved in recent months, they continue to be immediate challenges, according to Tesla’s financial update for… Read More ›
Elon Musk, CEO of Tesla Inc, believes a recession will continue until the spring of 2024, he tweeted on Friday, after initially saying this week that “a sort of recession” in China and Europe was weighing on demand for its… Read More ›
Despite rising inflation, U.S. card companies are expected to benefit as pandemic-weary consumers continue to fuel demand for travel, one of the biggest contributors to revenue. Analysts predict that as more businesses resume business travel and people plan vacations, Visa… Read More ›
Sistema, a Russian telecoms-to-healthcare conglomerate, agreed to a $256 million deal for a stake in Melon Fashion Group on Wednesday, months after the retail outlet canceled plans for an IPO due to the conflict in Ukraine. Melon, based in St…. Read More ›
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