Bitcoin’s price plummeted to $57,000 per coin on Thursday, marking a two-month low. This drop came shortly after the U.S. Federal Reserve released minutes from its June meeting signaling that they are not yet considering a reduction in interest rates. The digital currency saw a significant 5% decrease in value within a 24-hour period, falling
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The European Union recently announced its decision to increase tariffs on electric vehicles imported from China, citing unfair subsidization practices within the industry. This move has significant implications for Chinese automakers, European brands with manufacturing plants in China, and even U.S. automaker Tesla. The tariffs will range from 17.4% to 37.6%, affecting the pricing and
Microsoft recently agreed to pay $14.4 million to settle a case in California regarding allegations of retaliating against employees who took legally protected time off. The California Civil Rights Department announced the proposed settlement, which will primarily benefit California workers who have taken parental leave, family care-taking leave, or disability leave dating from 2017 to
In a recent report by Counterpoint Research, Chinese electric vehicle maker BYD is on the path to surpassing Tesla in battery electric vehicle (BEV) sales for the year. The report highlights a significant surge in BEV market share for BYD, showcasing the dynamic nature of the global EV market. This shift is evident as BYD’s
Tesla’s second-quarter vehicle production and deliveries data for 2024 failed to meet analyst expectations, with total deliveries amounting to 443,956 vehicles and total production reaching 410,831 vehicles. Analysts had predicted Tesla deliveries to reach 439,000 in the period ending June 30. The figures represented a 4.8% decline from the previous year’s numbers but marked a
The recent vote against Salesforce’s compensation plan for top executives, including CEO Marc Benioff, reflects widespread shareholder disapproval of the company’s equity awards. The board had urged shareholders to support the resolution, but shareholder advisory groups Glass Lewis and Institutional Shareholder Services recommended against it. This discrepancy, with 404.8 million votes against and 339.3 million
Meta, the parent company of Facebook, is facing accusations from EU regulators of violating antitrust rules through its ad-supported social networking service. The European Commission has raised concerns about the new subscription model introduced by Meta, which gives users a “pay or consent” choice – either pay for an ad-free experience or consent to their
Generation Z in Asia-Pacific is reshaping the fashion industry by taking cues from idols and influencers, as revealed in a recent report by KPMG. Unlike previous generations who visited brick-and-mortar stores for shopping, Gen Z is now turning to online platforms to stay ahead of the latest trends and styles. By following idols and influencers
The collapse of Mt. Gox, a Japanese bitcoin exchange, sent shockwaves through the cryptocurrency world a decade ago. The exchange fell victim to a major hack in 2011, resulting in the loss of up to 950,000 bitcoins. This incident occurred when bitcoin was still in its nascent stages and traded for a fraction of its
In a strategic move to compete with Microsoft in the realm of artificial intelligence services, Amazon has decided to double the value of credits it offers to select startups utilizing its cloud infrastructure. Beginning on July 1, startups that have recently secured a Series A round of funding will now be eligible to receive $200,000