Bitcoin’s volatile price movements took a downward turn as it slumped to around $57,000 apiece on Thursday, marking a two-month low. This abrupt decline came shortly after the U.S. Federal Reserve released minutes from its June meeting, indicating that the central bank is not yet prepared to cut interest rates. The digital currency experienced a
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The European Union has recently made a decision to increase tariffs on electric vehicles imported from China, citing unfair subsidization as the reason behind their actions. This move has major implications for various automakers, including Chinese giants like BYD and newcomers like Nio and Xpeng. With the tariffs coming into effect imminently, the automotive industry
Microsoft recently settled a case in California by paying a hefty sum of $14.4 million over accusations of retaliating against employees who had taken legally protected time off. California’s Civil Rights Department highlighted the discriminatory adverse impact of Microsoft’s policies, which disproportionately affected women and people with disabilities. The agency emphasized that Microsoft’s actions could
The Chinese electric vehicle manufacturer BYD is making waves in the industry, with projections showing that it is on track to overtake Tesla in battery electric vehicle sales this year. According to a recent report by Counterpoint Research, BYD’s BEV market share is expected to surge, highlighting the dynamic nature of the global EV market.
Tesla’s shares experienced a significant boost after the release of its second-quarter vehicle production and deliveries report, surpassing analyst predictions. The total deliveries for Q2 2024 reached 443,956 vehicles, while the total production for the same period was 410,831 vehicles. This exceeded the estimated 439,000 deliveries projected by analysts and marked a 14.8% increase from
Salesforce investors recently made a bold statement by voting against the company’s compensation plan for its top executives. The resolution to approve the compensation received mixed reactions at the annual meeting, with 404.8 million votes against and 339.3 million in favor. Despite the board’s recommendation to vote in favor of the plan, two influential shareholder
EU regulators have accused Meta, the parent company of Facebook, of failing to comply with the bloc’s antitrust rules regarding its ad-supported social networking service. This accusation comes after the introduction of an ad-supported subscription option that presents users with a “pay or consent” model, giving them the choice to pay for an ad-free experience
Generation Z in Asia-Pacific is revolutionizing the fashion industry by taking cues from idols and influencers, according to a recent report by KPMG. Unlike past generations who relied on department stores and shopping malls for fashion inspiration, Gen Z is turning to online platforms, particularly TikTok, to discover new trends and styles. The report, based
Mt. Gox, once a prominent Japanese bitcoin exchange, faced a major hack a decade ago, resulting in the loss of up to 950,000 bitcoin. However, after years of waiting, creditors are finally set to receive a payout that could amount to roughly $9 billion. Among the claimants is Gregory Greene, who stands to gain substantially
In a strategic move to combat rising competition in the field of artificial intelligence services, Amazon has decided to double the value of credits it offers to some startups to leverage its cloud infrastructure. Starting July 1, startups that have raised a Series A round of funding in the past year will now be eligible