Finance
Intel to Completely Exit 5G Market by July
According to a report by Dr. Ian Cutress of More than Moore, Intel is set to transfer its 5G WWAN product development technology to MediaTek and Fibocom before the end of May and will completely exit the 5G market by July of this year. This move will not have any financial impact on Intel, as…
Hyundai Motor Group Sells Over 100,000 Electric Vehicles in the US Market
Hyundai Motor Group, which includes Hyundai, Kia, and Genesis brands, has sold over 100,000 electric vehicles in the US market after 8 years, according to industry data. As of the end of January this year, the three brands have sold a total of 104,326 electric vehicles in the US. Kia has been the best-selling brand,…
Ford Reports Q4 Revenue Above Expectations, Up 17% YoY
Ford announced its financial results for the fourth quarter of 2022 on Thursday, revealing revenue of $44 billion, a 17% increase from the previous year. This figure was higher than the expected $39.8 billion by the market. Despite this positive news, the company’s net profit was $1.3 billion in the fourth quarter, lower than the…
Indonesia Offers Incentives to Attract Tesla Investment
Indonesia is Luring Tesla to Invest As a leading player in the electric vehicle industry, Tesla is reportedly planning to build more factories globally. Indonesia is one of the countries that are attracting Tesla’s investment with a series of incentives, including tax breaks and nickel mining. Abundant Nickel Resources Indonesia is a country rich in…
China ChatGPT is Coming: Baidu Stock Rises Over 13% in US, Over 7% in Hong Kong
According to recent reports, Baidu is set to launch China’s ChatGPT. This has led to a surge in Baidu’s stock prices, with the US stock rising by almost 15% and Hong Kong stock by over 7%. Many institutions have released information regarding the significant growth potential for Baidu. Macquarie has adjusted its earnings per share…
Baidu Plans to Launch AI Chatbot Similar to OpenAI’s ChatGPT
Baidu is set to launch a new artificial intelligence (AI) chatbot service in China, similar to the popular ChatGPT. The chatbot is expected to become a highly anticipated product in China’s competitive chatbot market. According to sources, Baidu plans to launch the ChatGPT-style application in March this year, initially integrating it into its main search…
CATL Launches First European Factory in Germany
Contemporary Amperex Technology Limited (CATL) is a Chinese battery manufacturer that has launched its first factory in Europe in Arnstadt, Germany. This marks the company’s first factory outside of China. The factory is expected to have an annual production capacity of 30 million cells, enough to assemble 185,000 to 350,000 electric vehicles. The project has…
Intel’s 2022 Q4: A Disappointing Turnaround with a $700 Million Net Loss
Intel announced its fourth quarter financial results for 2022. The company reported a net loss of $700 million, a significant reversal from the previous year’s profit of $3.4 billion. The loss was attributed to a number of factors, including increased competition and a slowdown in the personal computer market. One of the biggest reasons for…
Tencent Shareholder Prosus and Parent Company Naspers to Cut 30% of Workforce
Dutch technology investment company Prosus and its South African parent company Naspers have announced that they will be cutting 30% of their workforce at their offices worldwide. This move comes as the company aims to focus on specific areas and reduce costs. A spokesperson for Prosus stated, “We are adapting to changes in the macro…
Amazon’s Second Wave of Layoffs: Over 3,000 Employees in New York, California, and Washington to be Affected
Amazon has recently announced that over 3,000 of its employees in New York, California, and Washington will be losing their jobs. This is part of the company’s second round of large-scale layoffs. The company has submitted layoff notices to these three states in accordance with legal requirements over the past two weeks. According to documents,…
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