Apple Inc supplier Foxconn on Wednesday said it plans to ramp up investment outside of China and efforts to attract automakers to its contract manufacturing business, as the company reported weaker demand for consumer electronics. Foxconn, which assembles around 70% of iPhones, has been diversifying production away from China, whose strict COVID restrictions disrupted its […]<
Global bank shares slid on Monday even as U.S. authorities moved swiftly to stem contagion following the collapse of startup-focused Silicon Valley Bank. HSBC bought the UK arm of stricken SVB for a symbolic one pound, rescuing a key lender for technology start-ups in Britain and helping curb the fallout from the biggest bank collapse […]
Main Street investors are facing off against Wall Street in an attempt to sway the U.S. Securities and Exchange Commission in its proposed revamp of stock trading. Individuals coordinating online have flooded the SEC with more than 1,300 comment letters, mostly voicing their support, on rules the regulator proposed in December that represent the biggest […]
1. Lithium Price Slide Deepens as China Battery Giant Bets on Cheaper Inputs By now, it is out in the open that the COVID-19 pandemic played a remarkable role in hastening the global reliance on lithium for EV batteries as the world pushes to reduce carbon emissions as it marches on a path towards an […]
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 […]
China on Thursday put Lockheed Martin Corp and Raytheon Technologies Corp on an “unreliable entities list” over arms sales to Taiwan, banning them from imports and exports related to China in its latest sanctions against the two U.S. companies. The measures come amid heightened tensions after the U.S. military shot down what it says was […]
Saudi Arabia has attracted more than $9 billion in investments in future technologies, including by U.S. giants Microsoft and Oracle Corp, which are building cloud regions in the kingdom, a government minister said on Monday. Saudi Minister of Communication and Information Technology Abdullah Alswaha said Microsoft will invest $2.1 billion in a global super-scaler cloud, […]
In light of Microsoft’s recent expensive investment in OpenAI after their generative artificial intelligence (AI) ChatGPT went viral, everyone is wondering how the game has changed since Big Tech giants set the rules for the rest of us. OpenAI is a startup company specializing in artificial intelligence research to promote and develop friendly AI to […]
The World Bank’s private investment arm sees huge potential to boost investment in Africa and help support entrepreneurship and digital transformation on the continent, top officials with the International Finance Corp (IFC) said. U.S. President Joe Biden this week hosted a three-day summit attended by 45 African national leaders that was aimed at bolstering trade […]
South Africa is the third largest economy on the continent and has remained robust in these uncertain times. Many consider South Africa the front door to investing there. Consequently, it has attracted investors from all over the world. Recently, these investments in South Africa have come from China and the Middle East. The economy in […]
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