S-OIL Secures Top Spot Again: Named 'Most Admired Company' for 8th Consecutive Year 2024.02.28 [iNews24 reporter Goodyeon Choi]S-OIL has retained the top spot in the Korea Management Association Consulting (KMAC)'s '2024 Most Admired Companies in Korea' for the eighth consecutive year.S-OIL CEO Anwar Al Hijazi...

Buffett's Berkshire Hathaway Boasts All-Time High Cash Reserves: Nowhere to Invest? 2024.02.28 Berkshire Hathaway, the investment company of “Oracle of Omaha” Warren Buffett, recorded its all-time highest cash holdings, continuing its strong performance in the fourth quarter of last year. However, Buffett stated that the chances of achieving the same “eye-popping” results in the coming years are virtually nonexistent. According to the earnings report released by Berkshire […]

OpenAI Accuses NYT of Hacking in ChatGPT Lawsuit 2024.02.28 OpenAI has responded to the New York Times' allegations of hacking ChatGPT with red herrings and requested that the lawsuit be dismissed. The NYT did not respond, and OpenAI said it hopes for a constructive partnership...

Apple's Exit from EV Market Boosts Tesla, Eases Pressure on Competitors 2024.02.28 With Apple’s voluntary withdrawal from the electric vehicle market, there’s a sense of relief among existing electric vehicle manufacturers like Tesla. In the recent cooling down of the electric vehicle market, the departure of a big tech company that holds $61 billion in cash means a lot to these existing companies. On the 27th (local […]

China's BYD Reveals $230K Electric Supercar to Rival Ferrari 2024.02.28 Photo: BYD According to Bloomberg, Chinese auto manufacturer BYD unveiled a high-performance electric supercar worth 1.68 million yuan (about $230 thousand), capable of competing with supercar manufacturers like Ferrari and Lamborghini, on the 25th (local time). BYD unveiled the Yangwang U (Ultimate) 9 at an event in Shanghai on the 25th (local time). It’s a […]

Hyundai vs. Tesla: The Electric Car Showdown Heating Up in the U.S. 2024.02.28 “For those who remember when Hyundai Motor Group (005380) first entered the U.S. auto market, their growth to this day is astounding,” said William Barnett, a professor at Stanford University, during an interview with CNBC on the 25th (local time). He praised Hyundai Motor Group’s rapid growth. Through a 15-minute broadcast report, CNBC focused on […]

Tesla Wins 4 Categories at US Automotive Loyalty Awards 2024.02.28 Tesla has taken four of the top nine spots in the automotive industry's brand loyalty rankings, according to S&P Global Mobility. The study also found that EV buyers are not returning to gasoline vehicles...

Cathie Wood Sells Shares in Nvidia and TSMC, Reducing Exposure to AI Semiconductor Boom 2024.02.27 Cathie Wood, CEO of Ark Invest /AFPBBNews=News1 Cathie Wood, CEO of Ark Invest, has sold her shares in Taiwan Semiconductor Manufacturing Company (TSMC) for the first time in over two years. As Nvidia is a key client of TSMC, this move shows that Wood has been consistently reducing her exposure to Nvidia, leading the “AI […]

Moderna's Q4 Results Exceed Expectations, Boosted by Deferred Revenue and Prospects of RSV Vaccine Approval 2024.02.27 Moderna (MRNA) has released its fourth quarter reports for last year, exceeding market expectations. Moderna’s fourth quarter revenue was $2.81 billion, a 44.7% decrease compared to the previous year, and the adjusted earnings per share (EPS) was $0.55, an 84.8% decrease from the last year. Despite these, the company successfully did a turnaround against the […]

Hong Kong ELS Investors Hit with $751 Million in Losses, Banks Pocket $140 Million in Commissions 2024.02.27 As the losses of customers who invested in ELS linked to the Hong Kong H-Index are expected to exceed $751 million soon, it has been revealed that these banks have earned about $140 million in commissions from H-Index-based ELS commodities. According to the financial sector, on the 26th, the total amount of H-Index-based ELS commodities […]

Moody's: Cyberattack on UnitedHealth Group (UNH.N) Raises Credit Concerns 2024.02.27 The recent hacking of the American healthcare services company UnitedHealth Group appears to hurt its credit. Credit rating agency Moody’s assessed on the 24th (local time) that the recently reported hacking on UnitedHealth Group damages the company’s credit. Moody’s stated that the cyber security attack on Change Healthcare, a technology division of UnitedHealth Group that […]

AT&T Issues Service Credit for Users Affected by Power Outage 2024.02.27 AT&T will refund a day’s communication service to customers affected by a power outage on Thursday. Reuters reported on the 25th (local time) that AT&T will refund a day’s service to over 70,000 users affected by a power outage lasting more than 10 hours at the airline last Thursday. AT&T’s 5G network service, which targeted […]

Samsung C&T Plans to Build Massive Solar Power Plant in Indiana, USA 2024.02.27 Samsung C&T Corporation is building a massive solar power plant in Indiana, USA. They are tightening the reins on expanding solar development projects, which they have pinpointed as a future growth engine. They are in full swing to leap forward as a global eco-friendly energy company. According to a report submitted to the Bartholomew County […]

Shanghai Nickel Surges to Three-Month High Amid U.S. Sanctions on Russia 2024.02.27 Nickel in the Shanghai Futures Exchange has reached its highest level in three months. This is due to the expansion of U.S. sanctions against Russia and growing concerns over supply in Indonesia. According to the Shanghai Futures Exchange (SHFE) on the 26th, the price of nickel in March closed at 135,220 yuan ($18,784.74) per ton […]

Mark Zuckerberg's Visit to South Korea Sparks Discussions on AI and XR Collaboration with LG Electronics 2024.02.27 Potential Discussions on AI and XR CollaborationPossibility of Meeting with Samsung Electronics Chairman Lee Jae Yong Mark Zuckerberg, CEO of Meta, who plans to visit Korea at the end of this month, will likely meet with William Cho, LG’s chief strategy officer. According to Yonhap News, on the 25th, the two parties discussed that Zuckerberg […]

US Stock Market Declines as Investors Await Release of January PCE 2024.02.27 The New York stock market fell this week as it awaits the release of January’s Personal Consumption Expenditures (PCE). This inflation indicator is a Federal Reserve (Fed) policy benchmark. The rise in US Treasury yields put pressure on the stock market. On the 26th (local time), the Dow Jones 30 Industrial Average traded down 62.30 […]

Boeing, SAAB, and IAI Compete in Three-Way Race for South Korea's AEW&C Aircraft Project 2024.02.27 The bidding race for the “Command Center in the Sky” Airborne Early Warning & Control (AEW&C) aircraft, which our military is introducing to monitor and analyze North Korean aerial threats, is warming up. This bidding race is expected to be a three-way race between Boeing, the largest aircraft manufacturer in the United States, SAAB, a […]

BYD Targets Sales of 4 Million Units in 2024, Driven by Low-Cost Models 2024.02.27 China's BYD will have a production capacity of 4.2 million units in 2024 and a sales target of 4 million units, 30% higher than in 2023, China Daily reported on February 26, 2024...

US Congress Targets Chinese E-Commerce Giant Temu Over Forced Labor Allegations 2024.02.27 Chinese e-commerce platform Temu has become a controversial topic in the U.S. political arena over the issue of forced labor. Temu's sales events are garnering increasing attention, and some lawmakers are calling for the company to be regulated...

Critics Blame President Xi Jinping's Control Obsession for Struggles in Chinese Stock Market 2024.02.27 China and Hong Kong stock markets leak $1.5 trillion in January aloneXi Jinping’s obsession with control is the biggest problem, critics sayThe outlook suggests the potential for a rebound similar to JapanGoldman Sachs: “Active fiscal easing and economic adjustment to consumption are necessary” It’s not just the Chinese economy standing at a crossroads. The Chinese […]

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