Rare discounts offered by Chinese battery giant CATL to automakers have accelerated a plunge in lithium prices, and the market is set to drop a further 25% with supply growth outpacing demand, analysts and traders say. After a frenzied rush by electric vehicle makers to secure raw materials over the past two years, which drove […]
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European shares fell on Tuesday, with UK’s Ocado sinking after a worse-than-expected full-year loss, while data from France and Spain pointed to inflation being stickier than feared. The continent-wide STOXX 600 index slipped 0.3% in the first hour of trading, after closing sharply higher in the previous session. “Whether it be Spain, France or Germany, […]
At the exact point where the northward urban sprawl of Johannesburg meets the southernly expansion of Tshwane (formerly Pretoria) sits the nerve center of Vodacom, the only Vodafone company in the world with a different name. Vodacom Park. Far from being an actual park, the HQ of South Africa’s biggest network operator is a bustling […]
U.S. President Joe Biden’s administration unveiled on Thursday a long-awaited overhaul of arms export policy with increased emphasis on human rights, backing off a Trump-era policy of giving more weight to commercial concerns. As Reuters reported on Wednesday, the new Commercial Arms Transfer (CAT) policy covers review of security assistance, government-to-government weapons transfers and licensed […]
U.S. Commerce Secretary Gina Raimondo on Thursday said the government will encourage companies to build at least two advanced domestic computer chip factories employing thousands of union workers, as part of a $52.7 billion dollar initiative. The centers would also include a “robust supplier ecosystem,” Raimondo said in a speech in Washington. “America needs to […]
As the artificial intelligence boom takes off, Nvidia Corp is expected to emerge as the biggest – though not the only – winner in the AI chip race among chipmakers after years of focusing on the technology has made it a go-to supplier for tech firms. AI has emerged as a bright spot for investments […]
Nio plans to build its first battery plant in China to produce big cylindrical cells similar to those used by Tesla, two people familiar with the matter said, as the Chinese EV maker seeks to cut its reliance on CATL for supplies. The plant underscores Nio’s ambition to ramp up its presence in the electric […]
Elon Musk will confront a critical challenge during Tesla’s Investor Day on March 1: Convincing investors that even though rivals are catching up, the electric-vehicle pioneer can make another leap forward to widen its lead. Tesla Inc was the No. 1 EV maker worldwide in 2022, but China’s BYD and others are closing the gap […]
It often happens while I’m scrolling on social media, an ad for a magically fat loss product pop out of nowhere. I assume you’re nodding and saying, “I know, right? it happened to me, too as well.” Social media can enter our minds and trigger any mental illness or insecurity. The use of photoshopped images […]
Telecom equipment maker Ericsson will lay off 8,500 employees globally as part of its plan to cut costs, a memo sent to employees and seen by Reuters said. While technology companies such as Microsoft, Meta and Alphabet have laid off thousands of employees citing economic conditions, Ericsson’s move would be the largest layoff to hit […]