Finance
Honda Issues Stern Warning to Nissan: Collaboration Ends if Partnership with Foxconn Forms
December 19, 2024 – Honda and Nissan are currently engaged in talks regarding a potential merger, as reported by Nikkei on Wednesday, in response to a perceived threat of acquisition by Foxconn (Hon Hai Precision Industry). Although Foxconn is primarily known for its contract manufacturing services, particularly for producing iPhones for Apple, the company announced…
Microsoft CEO Reveals: Google Earns More from Windows than Microsoft Itself
December 18, 2024 – Despite the widespread popularity of Microsoft’s Windows operating system, which boasts the largest user base globally, CEO Satya Nadella revealed in a surprising statement on the latest episode of Brad Gerstner and Bill Gurley’s BG2Pod podcast that Google actually earns more money from Windows than Microsoft itself. “Google makes more money…
Elon Musk Hits New High: Net Worth Surpasses 360Billion,Up130 Billion This Year
December 8, 2024 – According to the Bloomberg Billionaires Index, as of December 6th local time, Elon Musk, the CEO of Tesla and the world’s richest person, has amassed a net worth exceeding 360billion.Thisfigureplaceshim122 billion ahead of the second-richest individual, Amazon founder Jeff Bezos, and represents a staggering increase of $133.3 billion since the start…
Volkswagen CEO Faces Heckling During Tense Negotiations with Workers
December 5, 2024 – Tensions ran high at a recent employee gathering held by German automaker Volkswagen on December 4th, as reported by Reuters. The meeting witnessed a clash between Chief Executive Officer Oliver Blume and labor leaders. Addressing the gathering, Blume emphasized that the management is not living in a fantasy world and must…
Tesla Faces Renewed Order to Scrap Musk’s Lucrative Salary Package
December 3, 2024 – On Monday, Judge Kathaleen St. Jude McCormick of Delaware rejected a request from Elon Musk and Tesla’s board of directors to overturn her previous ruling, which ordered Tesla to rescind Musk’s massive compensation package. Earlier this year, Judge McCormick had determined that there were significant flaws in the negotiation process between…
OpenAI Mulls Advertising Integration to Boost Revenue Streams
December 3, 2024 – According to a report by the Financial Times, OpenAI is contemplating the introduction of advertising into its artificial intelligence products. The company, which is currently valued at $150 billion, is in the process of transitioning towards becoming a profitable enterprise and is exploring new revenue streams. In an interview with the…
KTM Embarks on Restructuring Journey to Dodge Bankruptcy
November 30, 2024 – KTM, the Austrian manufacturer, is navigating through one of the most intricate periods in its history, as reported by foreign media. The company, which is currently grappling with a significant financial crisis, has initiated European restructuring proceedings. Under the terms of the Restructuring of Enterprises (RoE) regulations, KTM is required to…
U.S. Department of Energy Backs Rivian with $6.6 Billion Loan for EV Expansion
November 27, 2024 – Yesterday, local time in California, Rivian, the American pure electric vehicle company, announced that the U.S. Department of Energy has conditionally committed to providing a total loan of 6.6billionundertheATVM(AdvancedTechnologyVehiclesManufacturing)program.Thisloan,whichincludes6 billion in principal and $600 million in capitalized interest, is intended to support Rivian’s expansion plans. If finally approved, the loan will…
Warren Buffett to Leave Just 0.5% of His Wealth to His Three Children, Reveals Estate Plans
November 27, 2024 – In a letter addressed to shareholders of Berkshire Hathaway on the 25th of the month, 94-year-old Warren Buffett announced his decision to convert 1,600 Class A shares of the company into 2.4 million Class B shares. These newly acquired Class B shares will then be donated to four family charitable funds….
US Government Cuts Intel’s Subsidy: Dropping from 8.5BilliontoBelow8 Billion
November 25, 2024 – According to informed sources cited by The New York Times, the Biden administration in the United States is planning to reduce the initial 8.5billionallocationfromtheChipsandScienceActgrantedtoIntelCorporation.Thefundingamount,whichwasannouncedearlierthisyear,isexpectedtobecuttobelow8 billion. This change in conditions takes into account a $3 billion contract obtained by Intel to produce chips for the U.S. military. The U.S. government’s decision to…