Apple Discounts iPhones in China as Competition Heats Up
Apple has announced discounts of up to 500 yuan ($68.50) on its iPhone models in China, marking a rare move to maintain its foothold in the world’s largest smartphone market.…
Chinese EV Maker Xpeng Targets 6,000 New Hires in 2025
Xpeng, the Chinese electric vehicle manufacturer, is gearing up to hire over 6,000 new workers in 2025. This ambitious expansion comes as the company braces for heightened competition in the…
Nvidia Adds $2 Trillion in Market Value in 2024
Nvidia surged to the forefront of market capitalization gains in 2024, with its value climbing over $2 trillion, driven by unprecedented demand for its AI-focused chips. The company’s market value…
BYD Factory in Brazil Faces Human Trafficking Controversy
Brazilian labor authorities have alleged that 163 Chinese workers at a construction site for a BYD factory in Bahia are victims of human trafficking. The claims have escalated tensions surrounding…
Nvidia Finalizes $700 Million Acquisition of AI Startup Run:ai
Nvidia has officially completed its $700 million acquisition of Israeli startup Run:ai, a company that helps developers optimize AI hardware infrastructure. The deal faced months of regulatory scrutiny, including a…
Honda Nissan Partnership Could Challenge BYD’s Global Dominance
Honda Motor Co’s proposed acquisition of Nissan Motor Co could provide the scale needed to challenge China’s BYD Co, sales data revealed Wednesday. The move highlights mounting pressure on Japanese…
Xiaomi Opens Its First Directly Managed Store in Singapore
Xiaomi has officially launched its first directly managed store in Singapore, located in Funan, on December 21, 2024. This marks a departure from its earlier distributor-operated outlets, as Xiaomi Singapore…
OpenAI Announces Plan to Become Public Benefit Corporation
OpenAI has confirmed its plans to restructure as a for-profit entity, officially announcing a transition that has been the subject of speculation for months. The company says it will transform…
Global Production Slows for Toyota Despite Rising Sales
Toyota Motor Corp. revealed that its global production dropped for the 10th consecutive month in November, manufacturing 869,230 vehicles—a 6.2% decrease compared to the same period last year. Despite this…
Hertz Offers Renters a Chance to Buy Their EVs
Hertz has begun contacting electric vehicle (EV) renters with offers to purchase their rental cars at prices reflecting its used car sales program. Renters of vehicles such as the Tesla…
Lyft Challenges San Francisco Over $100 Million Tax Dispute
Lyft has accused San Francisco of overcharging $100 million in taxes between 2019 and 2023, claiming the city miscalculated its gross receipts by including driver compensation as part of the…
Growth in China’s Foldable Smartphone Market Slows This Year
China’s foldable smartphone market is losing momentum in shipment growth, according to Counterpoint Research. While the country is projected to account for over half of global foldable handset shipments in…
Netflix Sues Broadcom’s VMware Over Virtual Machine Patents
Netflix has filed a lawsuit against VMware, a subsidiary of Broadcom, claiming that the company has infringed on five of its patents related to virtual machine operations. The lawsuit, submitted…
Telegram Achieves Profitability as Revenue Hits $1 Billion in 2024
Telegram has reached profitability, according to founder Pavel Durov, who shared the milestone in a post on Monday. The popular messaging app achieved over $1 billion in total revenue for…
CFPB Sues Walmart Over Unauthorized Bank Accounts for Delivery Drivers
The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against Walmart and payroll service provider Branch Messenger, alleging they engaged in deceptive and abusive practices affecting gig workers. The…
Lumen Technologies Begins Process to Sell Consumer Fiber Unit
Lumen Technologies has begun the process of selling its consumer fiber business, signaling a shift in its operational focus while addressing its substantial debt, sources familiar with the matter disclosed.…
Elon Musk’s xAI Raises $6 Billion
Elon Musk’s AI company, xAI, has secured another $6 billion in funding, bringing its total raised to $12 billion in just half a year. The latest investment round, confirmed in…
X Raises Premium+ Subscription Price to $22 Monthly
Elon Musk’s X, formerly known as Twitter, has announced a steep price hike for its Premium+ subscription, marking the most significant increase since Musk acquired the platform in 2022. The…
Singapore’s Bolttech Raises Over $100 Million to Reach $2.1 Billion Valuation
Insurance technology company bolttech, headquartered in Singapore, has announced raising over $100 million in its Series C funding round. Led by Dragon Fund, Mitsubishi UFJ Financial Group, and fintech direct…